Malaysia to review 10-year visa program within two months

July 5, 2023

It may take up to eight weeks to obtain approval from the government before the latest conditions on the Malaysia My Second Home program could be finalized, the minister said, as cited by The Star newspaper.

The visa program, which was launched in 2002, allows foreigners to stay in Malaysia for up to 10 years.

In August 2021, the government imposed stricter conditions, requiring applicants to provide proof of RM1.5 million (US$338,000) in liquid assets and a minimum of RM40,000 in monthly income.

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Previously, applicants only needed savings of between RM300,000 and RM500,000.

Earlier, many associations and experts called on the Malaysian government to quickly resolve issues in its 10-year visa program to help raise government revenue and stir up the stagnant housing market.

Source: VNExpress