251 HK residents seek move to MalaysiaLocal | 21 Aug 2019 4:12 pm
A Malaysian program to attract wealthy foreigners has drawn 251 applications from Hong Kong residents this year, compared with 193 approved last year, a government official said, Reuters reports.
Property consultants said interest in the “Malaysia My Second Home” (MM2H) initiative has surged among residents of Hong Kong.
Sharifah Ikhlas Aljaffree, the director of the program run by Malaysia’s tourism ministry said the program had received 3,500 applications this year as of yesterday, versus 6,279 in 2018. None of this year’s applications has been approved, she said.
Hong Kong applicants are on either side of 50 years and work in sectors such as information and communications technology, Sharifah added.
Those approved get renewable multiple-entry resident visas and are allowed to buy property valued at 1 million ringgit (US$239,234) or more, and own vehicles. But they cannot work full-time without an employment pass, the program website shows.
People from China have accounted for 30 percent of the more than 42,000 applications approved from 2012 to 2018.