Make Malaysia My 2nd Home (MM2H) is the program from Malaysia to encourage expats to stay in Malaysia by offering a long term (10 year) visa, often referred to as a retirement visa (though you needed be retired to qualify).
Applicants aged below 50 years are required to show proof of liquid assets worth a minimum of RM500,000 (approximately USD 125,000 given the exchange rate as I write this post) and offshore income of RM10,000 per month ($2,500/month). And on approval are required to deposit 300,000 MYR (USD 75,000 in a local bank account).
Applicants aged 50 and above may comply with the financial proof of RM350,000 (US$87,500) in liquid assets and off shore income of RM10,000 per month. On approval they are required to deposit 150,000 MYR (USD 37,500 in a local bank account).
The MM2H program was started in 2002 and since that time 34,591 expats have been approved to receive the MM2H visa. That is an average of 2,232 a year (the 2017 data is for only 6 months). The data is provided on MM2H government website.
Recently the program has gained popularity as the totals in the last 5 years all except 2015 reached levels well above that average. During 2012 approvals reached 3,227; 2013 had 3,675; 2014 had 3,074; 2015 had 2,211; 2016 had 3,347 and 2017 had 1,854 in the first 6 months.
27,544 of those receiving MM2H visas since the start of the program are from Asia (80% of the total), 4,225 from Europe (12%), 1,309 from the Americas (4%), 996 from Oceania and 424 (3%) from Africa (1%). Europe has seen a slight decline recently while Asia has increased during the last few years from the totals earlier in the program.
Countries that are consistently among the top countries yearly are: China (27% of the total from 2002 until now), Japan (12%), Bangladesh (11%), UK (7%), Korea (4%) and Singapore (4%). Korea has had a large increase in the last 4 years (they make up 6% of the total from 2014 to 2017).
The MM2H is a very good idea to aid economic development in my opinion. It provides a way for people to look into Malaysia as a retirement location, prior to retiring. That is a great way to encourage interest in the country. I would setup a similar program if I was responsible for another country (I don’t know of any such programs elsewhere) – I would imagine there will be several countries doing so in the next 10 years. I have a feeling there may be countries in South America that have something similar but I am not sure.
Related: 2014 Make Malaysia My 2nd Home (MM2H) Statistics – Make Malaysia My 2nd Home (MM2H) Statistics (2012) – MM2H statistics page – Residence Pass for Talented Expats – Malaysia Automated Clearance System (MACS), between Singapore and Johor Bahru