Sabah Launches Its Unique 'Malaysia My Second Home' Program Malaysia

In an exciting development for potential expatriates and investors, Sabah, a state in Malaysia, has introduced its own version of the 'Malaysia My Second Home' (MM2H) program. Officially launched on June 30th, this initiative offers a distinctive set of benefits tailored to attract foreigners seeking a second home in Malaysia, distinct from the federal MM2H program.

Who is Eligible?

The Sabah MM2H program is open to individuals aged 30 and older from countries that maintain diplomatic relations with Malaysia. This opens the door to a diverse group of expatriates and investors looking for long-term residence in one of Malaysia's most picturesque regions.

Financial and Property Requirements

Applicants are required to invest in high-rise properties within the state, with a minimum value of RM600,000. Additionally, financial prerequisites include a fixed deposit of RM150,000 for individuals or RM300,000 for families. To qualify, prospective residents must also demonstrate a steady monthly income—RM10,000 for singles and RM15,000 for families.

Residence Permit Details

One of the standout features of Sabah’s MM2H program is the generous residence permit it offers. Successful applicants will receive a 10-year residence permit, with the only requirement being a minimum stay of 30 days in Sabah each year. This provides significant flexibility for those who travel frequently or have business commitments in other parts of the world.

Additional Restrictions

It is important to note that participants in this program are not permitted to purchase properties under the affordable homes scheme. Furthermore, the MM2H pass cannot be used as a work permit in Malaysia, underscoring the program’s focus on residential rather than occupational relocation.

Comparison with Other MM2H Programs

Sabah’s MM2H scheme stands out in several ways when compared to other regional offerings:

• Sabah MM2H: Requires substantial financial deposits and proof of income, but grants a lengthy 10-year residence permit.
• Sarawak MM2H: Offers similar financial requirements but only a five-year residence permit, which is renewable.
• Malaysia Federal MM2H: Features three tiers with varying deposit requirements, does not stipulate an annual income requirement, but demands higher property investment values.

Why Sabah?

Sabah is an attractive destination for foreign investors and expatriates due to its natural beauty, cultural richness, and the availability of modern amenities. With approximately 3,000 vacant condominiums currently on the market, now is an opportune time for those considering a second home in Malaysia to explore what Sabah has to offer.

This tailored approach by Sabah to the MM2H program reflects a strategic move to boost foreign investment while ensuring that local housing remains affordable for its citizens. For those meeting the criteria, Sabah offers a promising new home with both tropical allure and substantial expatriate benefits.