2014 Make Malaysia My 2nd Home (MM2H) Statistics

Make Malaysia My 2nd Home (MM2H) is the program started by Malaysia in 2002 to encourage expats to stay in Malaysia by offering a long term (10 year) visa. The MM2H program is a very good idea to aid economic development in my opinion. It brings in foreign currency which is very useful: both from fixed deposits and spending by expats.

The currency help is especially helpful right now. The Malaysian Ringitt has collapsed in the last few months to just 3.57 MYR to the US $ now. It was stable at about 3 a couple years ago and slowly declined to 3.3 over a couple years before the recent collapse. The collapse is due to high government and consumer debt in Malaysia and the recent collapse of oil prices. Malaysia was running up large debts even when oil prices were high and the danger of doing so has come home to roost.

The MM2H program targets retirees and future retires and provides a relatively small but still consistent and useful inflow of hard currency which helps support the Ringitt (the recent collapse would be even worse without this support).

Since the program was started in 2002, 27,000 expats have been approved.

country 2014 total
China 1,294 6,219
Japan 362 3,546
Bangladesh 252 3,007
UK 93 2,169
Iran 23 1,312
Singapore 77 1,109
Taiwan 83 1,043
Pakistan 63 919
Korea 114 911
India 46 774

*data for 2014 is for 11 months, through November 2014.

China participation has exploded to 40% of the total in the last 2 years. From 2002 through 2012 China was granted 18% of MM2H visas.

It appears likely 2014 will finish with the 3rd largest number of MM2H visa granted just behind 2013 and 2012.

North America had 75 in 2014 and 1,017 total. South America has just 24 total. Africa had 31 in 2014 and 318 total while Oceana (which includes Australia and New Zealand) had 52 in 2014 and 743 total. Europe overall had 194 in 2014 and 3,553 total while Asia had 2,500 in 2014 and 21,212 total (which is 79% of all MM2H visas).

Related: Make Malaysia My 2nd Home (MM2H) Statistics (2012)Looking at the Malaysian Economy (2013)Iskandar Housing, Real Estate Investment Considerations

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