Start small with new MM2H rules

KUCHING: Sarawak will adopt a measured approach to the revamped Malaysia My Second Home (MM2H) programme, starting with a limited land offering for participants.

Minister for Tourism, Creative Industry and Performing Arts, Datuk Seri Abdul Karim Rahman Hamzah, said this decision was due to the high deposit requirement stipulated in the new federal guidelines.

“Implementing this rule in Sarawak might discourage participation initially.

“Therefore, we’ll secure a smaller land allocation first and seek cabinet approval,” he said during the Freedom To Own campaign at Naim Sales Gallery today (July 13).

Sarawak will have the authority to set its own MM2H terms and conditions.

“We won’t mirror the federal programme’s deposit or fixed deposit amounts.

“Sarawak has the power to establish terms for the Sarawak-Malaysia My Second Home (S-MM2H) programme and issue MM2H agent licenses,” he added.

Separately, Abdul Karim encouraged potential MM2H participants and property investors to explore projects by NAIM, a local developer.

“Their projects boast ideal locations.

“With Kuching’s development, property prices are going to double or triple in the next 10 to 20 years.

“Early investors and those with foresight recognise property as a sound investment for the future,” he said.