PETALING JAYA: Johor Ruler Sultan Ibrahim Sultan Iskandar said he met the prime minister today over the tighter conditions announced recently for the Malaysia My Second Home (MM2H) programme.
In a Facebook post, Sultan Ibrahim said he called for an immediate review of the recent conditions imposed under the programme.
He said Johor remained one of the main destinations for foreign investors, adding that the state is also one of the main contributors to the country’s economic growth.
“The MM2H programme is one of the main contributors to the state,” Sultan Ibrahim added.
During the meeting with Prime Minister Ismail Sabri Yaakob at Istana Pasir Pelangi in Johor Bahru, he said he discussed various matters involving the development of the state.
Johor menteri besar Hasni Mohammad was also present at the meeting.
Sultan Ibrahim added this was the first official visit by Ismail to the palace after he had taken office as the 9th prime minister on Aug 21.
The sultan had previously slammed the home ministry over its reluctance to review the tighter conditions announced recently on the MM2H programme.
With the tighter conditions set to deter new participants, it could lead to an “enormous” loss of revenue for Johor, he said.
Calling for less stringent requirements, Sultan Ibrahim added that the home ministry should only revoke the visas of errant MM2H participants instead of enforcing any blanket ruling, if indeed the nation’s security was its main concern.
The new requirements require participants to have permanent savings of at least RM1 million and a declaration of liquid assets of at least RM1.5 million. Previously, they only needed to have savings of between RM300,000 and RM500,000.
An MM2H holder must now also have an offshore income of at least RM40,000 a month, up from RM10,000 per month.