Latest news with #MalaysiaMySecondHome
The Star
11 hours ago
- Business
- The Star
Refine offerings to woo migrant investors
RECENTLY, Malayan Banking Bhd introduced a package for successful Malaysia My Second Home (MM2H) applicants. This was done in collaboration with the Tourism, Arts and Culture Ministry (Motac). The package offers preferential rates, low fixed-rate charges for unit trust investments, automatic Premier banking status, and financial advisory services. Billed as RM9.73 for the 1st month then RM13.90 thereafters. RM12.33/month RM8.63/month Billed as RM103.60 for the 1st year then RM148 thereafters. Free Trial For new subscribers only
New Straits Times
5 days ago
- Business
- New Straits Times
Second Home Plan makes MM2H debut, eyes global market
KUALA LUMPUR: Newly established Second Home Plan (MM2H) Sdn Bhd has made its debut in the Malaysia My Second Home (MM2H) space, offering end-to-end relocation services for foreign nationals seeking long-term residency in the country. Managing director June Chang said the company provides a full suite of support covering healthcare, education, property, legal, financial, and lifestyle needs. "The company's mission is not only to facilitate the process of moving to Malaysia but also to ensure that applicants feel truly at home. "A second home should not mean second place," he said at the launch ceremony officiated by chairman Tunku Kamariah Aminah Maimunah Iskandariah Sultan Iskandar. The MM2H programme is a government initiative aimed at attracting foreign investment, stimulating tourism, and driving economic growth. It is promoted by the Tourism, Arts and Culture Ministry, while visa approvals are handled by the Immigration Department under the Home Affairs Ministry. Second Home Plan chief executive officer SP Chang said the company aims to be Southeast Asia's most trusted MM2H platform. "We are prepared to serve applicants from all corners of the world—China, Hong Kong, Taiwan, Singapore, Europe, America, Dubai, Bangladesh, and many more. "Wherever there is aspiration to live in Malaysia, we stand ready with structure, service, and sincerity," he said. The launch also saw the signing of a memorandum of understanding between Second Home Plan and the Zhejiang China and Malaysia Overseas Friendship Organisation to promote MM2H in Zhejiang and its international networks. Introduced in 2002 as a successor to the 1996 Silver Hair programme, MM2H offers long-term residency to foreign nationals. The programme was recently revamped into four categories, namely Silver, Gold, Platinum and Special Economic or Financial Zone, each with distinct requirements. Applicants must be at least 25 years old and place a fixed deposit in a Malaysian bank ranging from US$32,000 to US$1 million, depending on the category. Under the scheme, visas are valid for five to 20 years, with only the Platinum category allowing employment or business participation. Participants are also required to spend at least 90 cumulative days in Malaysia each year. Applications must be submitted through licensed MM2H agents and are subject to background checks, health screenings and valid medical insurance coverage.
The Star
21-05-2025
- Business
- The Star
Maybank partners with ministry for MM2H initiative
Maybank said its wealth management arm, Maybank Premier, will offer a range of solutions tailored to successful MM2H applicants. PETALING JAYA: Malayan Banking Bhd (Maybank) is the first among a select group of banks in Malaysia to partner with the Tourism, Arts and Culture Ministry for the Malaysia My Second Home (MM2H) programme. In a statement, Maybank said its wealth management arm, Maybank Premier, will offer a range of solutions tailored to successful MM2H applicants, supporting national efforts to attract global talent and long-term foreign residents. The MM2H programme offers long-term visas that can be renewed every five to 20 years. It is aimed at retirees, professionals, and global investors. The latest framework includes three categories, with extra benefits for those who invest in Malaysia's Special Economic Zones and Special Financial Zones. Maybank is launching a series of international roadshows and activities as part of the collaboration, starting with a recent event in Maybank Tower in Singapore. Trading ideas: Maybank, Velesto, Duopharma, IHH, Malakoff, EcoWorld, SCable, MBSB, Kimlun, Sapura Industral, Eversendai, SunCon, PetChem, Aeon, TSH, MyEG
The Star
20-05-2025
- Business
- The Star
Maybank partners with Motac for MM2H programme initiative
KUALA LUMPUR: Malayan Banking Bhd (Maybank) is the first among a select group of banks in Malaysia to partner with the Ministry of Tourism, Arts and Culture (MOTAC) for the Malaysia My Second Home (MM2H) programme. In a statement, Maybank said its wealth management arm, Maybank Premier, will offer a range of solutions tailored to successful MM2H applicants, supporting national efforts to attract global talent and long-term foreign residents. The MM2H programme offers long-term visas that can be renewed every five to 20 years. It is aimed at retirees, professionals, and global investors. The latest framework include three categories — Silver, Gold, and Platinum — with extra benefits for those who invest in Malaysia's Special Economic Zones (SEZs) and Special Financial Zones (SFZs). Maybank is launching a series of international roadshows and activities as part of this landmark collaboration, starting with a recent event at MSpace@ Maybank Tower in Singapore. Following the event in Singapore, Maybank and MOTAC will continue to host MM2H-focused roadshows across key regional markets. The bank is also providing a package for successful MM2H applicants that includes preferential rates, low fixed charges on unit trust investments, automatic Premier banking status, comprehensive financial advisory services, and more. Maybank president and group CEO Datuk Khairussaleh Ramli said the strategic collaboration underscored Maybank's commitment to supporting Malaysia's economic goals by positioning the country as a top destination for global investors and long-term residents. 'As a banking partner for MM2H, we are proud to offer a holistic financial ecosystem that not only meets the sophisticated needs of international clients, but also reinforces Malaysia's appeal as a vibrant, forward-looking nation.'
New Straits Times
17-05-2025
- Automotive
- New Straits Times
Move to end foreign licence conversion gains praise over fraud concerns
KUALA LUMPUR: The government's decision to discontinue the conversion of foreign driving licences to Malaysian licences has been welcomed as a positive step to strengthen the process and help prevent potential issues, including alleged fraud cases. Ch'ng Toh Ghee, managing director of Malaysia My Second Home (MM2H) agency Alter Domus, said the policy shift is understandable as Malaysia seeks to tighten compliance and improve road safety standards involving foreigners. He said while MM2H participants are exempted from the ruling, the move is still timely and necessary to ensure uniformity and prevent abuse. "This policy is a good move as it helps strengthen the process and enables authorities to prevent potential issues, such as document fraud during the conversion of foreign licences," he told the New Straits Times. He added that the decision likely stems from previous cases of possible fraud, prompting the authorities to act. "Some countries do not follow Malaysia's standards when issuing driving licences. "By standardising the process, the government is ensuring that all drivers, regardless of nationality, meet local safety and competency standards," he said. Ch'ng also acknowledged that, although the announcement came at the last minute, it demonstrates the government's urgency in addressing the matter. "Although the announcement was only made on May 17, with implementation set for May 19, we understand the urgency. It shows the government is serious about curbing issues related to licence fraud. "While last-minute, it is a necessary and commendable move that deserves support." The Road Transport Department (RTD) on Saturday had announced that all applications to convert foreign driving licences to Malaysian driving licences (LMM) will be discontinued effective May 19. Its director-general, Datuk Aedy Fadly Ramli, said that foreigners requiring an LMM will now have to follow the existing procedures to obtain the licence, just like Malaysian citizens. However, several categories of applicants will not be affected by the new ruling, including members of the diplomatic corps and participants in the MM2H programme. Meanwhile, foreigners residing in Malaysia temporarily for less than 12 months are subject to specific conditions. Citizens from countries that are signatories to the 1949 Geneva Convention on Road Traffic and the 1968 Vienna Convention on Road Traffic are allowed to drive using an International Driving Permit issued by the relevant authorities of their respective countries. As for Asean nationals, they only need to use their domestic driving licences, in accordance with the 1985 Asean Agreement on the Recognition of Domestic Driving Licences.
