Contribution of MM2H Programme to the Malaysian Economy

One should applaud the futuristic vision of the Malaysian Government behind the framing of Malaysia My Second Home Visa Programme (MM2H visa programme). MM2H visa had been framed in order to invite the retired foreigners to relocate in Malaysia. The visa permits a person to stay in the country for 10 years continuously. One can renew it after the completion of the term. The MM2H Programme has benefitted the Malaysian economy in a huge manner. In the year 2016, the Programme had contributed RM1 2.9 billion to the economy.

The Financial Contribution of the MM2H Program

According to the Malaysian foreign minister Mr. Datuk Seri Nazri Aziz, Malaysia My Second Home programme has contributed RM 2.9 billion in the year 2016. If we segregate the earnings it would amount to an earning of RM 6.85 million from visa fees, RM 542.55 million from the new savings accounts opened by the foreigners and RM 673.96 million from the purchase of the property. This total list does not include the earnings from the expenditure made on the purchase of household articles, money spent on children’s education, on the purchase of medical insurance and the money invested in buying new vehicles. Undoubtedly, MM2H programme has a powerful influence on Malaysian economy.

Overall Impact of MM2H Programme on Malaysia

Since the launch of the visa programme in the year 2002, people from 126 countries have migrated and settled here in Malaysia. The highest number of settlers came from China, followed by Japan, Bangladesh and UK. This programme has put Malaysia on the world map. According to International-Living.com, Malaysia is placed on 6th rank in the list of top places to settle down after retirement. Interestingly, Malaysia is the first Asian country to be placed on the list. In addition, a survey conducted by Longstay Foundation Japan has confirmed that according to most of the 40 above Japanese, Malaysia is the ideal place to settle down after retirement.

Top Benefits of MM2H Programme

Many writeups have been already written down depicting the helpful principles of the visa programme. To mention the top benefits we can start with the ease of buying homes, vehicles and medical insurances. Then, one can easily enroll his or her children to local educational institutions. The foreigners have the permission to bring in their parents, maid-servants and pet animals with them. The visa also permits the foreigners to apply for part-time jobs (with restrictions).

The popularity of MM2H programme is based upon its principles that help the foreigners to settle down in Malaysia. In addition to progressive policies implemented by the government and the rising Malaysian economy, the helpful principles of MM2H prgramme encourage people around the world to come down and settle here. Undobtedly, the programme is mutually beneficial to both sides.