356 applications approved under new My Second Home rules

A TOTAL of 356 applications have been approved since the implementation of the SarawakMalaysia My Second Home (SMM2H) Enhanced Requirements and Regulations this year, said Dato Sri Abdul Karim Rahman Hamzah.

The Tourism, Creative Industry and Performing Arts Minister said this was a big jump of 1,218.52 per cent compared to the corresponding period last year.

“For 2022, the top five nationalities are Hong Kong (58), United States of America (54), United Kingdom (49), Singapore (38) and Japan (32),” he said in his ministerial winding-up speech at the State Legislative Assembly (DUN) sitting yesterday.

S-MM2H is a programme under the ministry to attract and allow foreigners who fulfil certain criteria to stay in Sarawak with a multiple-entry visa.

Since its adoption in January 2007, Sarawak had approved a total number of 1,689 participants.

Abdul Karim explained that in August this year, with a view to ensure that the S-MM2H programme continues to benefit Sarawak, further refinement was approved to the Enhanced Requirements and Regulations of S-MM2H Programme.

Among the new requirements is the mandatory opening of a fixed deposit account with any local bank in Sarawak.

“The required amount remains at RM150,000 for individual applicants and RM300,000 for couples.

“Besides that, proof of pension funds or offshore income or savings are required as proof of financial capability to support themselves while staying in Sarawak,” he added.

Abdul Karim said all S-MM2H pass holders are also required to fulfil a minimum annual stay duration in Sarawak for 30 days in a year.

“This is one of the conditions for consideration of extension or renewal of the pass.”

He said participants of SMM2H may be allowed to work, be employed or involved in active investment and business during participation duration of this programme, subject to approval from the state government.

“They are restricted to professionals and investors. This refinement of requirements was effective from Sept 1, 2022,” he said.