Revisions to Sarawak MM2H to "increase participation". Already back-dated to be effective as of September 1st.
https://www.theborneopost.com/2020/09/0 … oreigners/
I think they will actually see the opposite effect unless the press conference did not cover all the provisions....it looks like it was written by the property agents.
Here are some of the highlights:
1) New category 40 and 50-years-old - Must invest in property, specifically for residential purposes with a total amount of at least RM600,000. [So good...but bad]
2) Increase in Fixed deposit -
From RM100,000 to RM150,000 for individuals
From RM150,000 to RM300,000 for couples.
[No mention if the will retain the "proof of salary" option, or if withdrawals will increase.
I have advised them that the FD actually does not bring economic benefit to Sarawak...unless it can be spent within Sarawak]
3) Minimum for House/Condo Purchase increases
From RM350,000 to RM600,000 for Kuching division
From RM300,000 to RM500,000 for other divisions in Sarawak
[This could actually reduce the purchase of housing and condos ]
4) Residency Requirement
All S-MM2H pass holders need to stay a minimum of 15 days per year in the state to qualify them for a renewal of S-MM2H pass after five years.
[Unclear if this is every year or if it can be concentrated in one visit of 2.5 months?]
5) Dependents
[There has been an expansion of the types of dependents who may come. This makes sense as they are lower the age of application.]
Previously parents of the applicants were not allowed now parents may also be awarded a visa. Previously children above 18 were not allowed now children below the age of 21 and not married are allowed to accompany the applicants,
6) Health Insurance
Applicants are required to purchase medical insurance for themselves and dependents.
[Prior to this there was no insurance requirement and the applicant was expected to pay costs over-the-counter. Is there an option to demonstrate sufficient coverage on alternative insurance schemes?]
7) Letter of Good Conduct:
Applicants would need to submit a letter of good conduct from relevant government authorities in their home country and the S-MM2H pass can be revoked if participants had any criminal offences.
[Home country or country of long-term residence?]
8) Security Bond:
“The imposition of security or personal bonds to act as a refundable security deposit in case of any breach or non-compliance to the Immigration Ordinance or Regulations or when unexpected incidents happen to S-MM2H participants and can be used for cost of deportation if necessary”
[It's unclear if this is required in lieu of a sponsor, as on the Peninsula, or how much is required. It is refundable.]
7) Processing: An establishment of a one-stop panel comprising of multiple government agencies to approve S-MM2H applications. This will ensure that all applications are processed and approved promptly and efficiently.
[Unclear benefit. Sarawak already had a fairly fast approval rate. What really is needed is a prominent campaign to promote the program].
8) Agents/Sponsors
It seems that they will continue to require sponsors (or maybe only if the applicant uses an agent)...the major issue with applications. However "agents registered with the state ministry are now allow to submit an application on behalf of applicants, to ease the difficulties faced by applicants in finding a sponsor, while helping tourism agencies in the state to be S-MM2H agents."
[Unless there is an option to apply individually, without a sponsor, the problem of finding a sponsor continues. Why have a sponsor that "vouches" for you if you can just "buy one"? It takes any "security value" out of having a sponsor. Of course the approving Ministries will generate income by licensing fees. What are the requirements to become a SMM2H sponsor? Do they require a Sarawak co-director? What are the fees?]
Any new applications after September 1st would be required to abide by the new regulations. So they backdated the policy so that those attempting to get grandfathered in cannot take the earlier option.
I'll likely stroll over to the Ministry of Tourism on Monday to find out more about the new program.
[BTW I was not invited to the Press Conference to ask questions]