Foreigners who fulfill certain criteria may apply, and a successful applicant is allowed to bring a spouse, an unmarried child under the age of 21, and parents who are over 60 years old.
[6] Applicants below 50 years of age are required to show proof of liquid assets worth a minimum of RM500,000 and offshore income of RM40,000 per month.
[7] Applicants below 50 years old are required to open a fixed deposit account in Malaysia of MYR300,000.00 at any bank with a local branch.
[8] After a period of one year, the participant can withdraw up to MYR150,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
After a period of one year, the participant who fulfills the fixed deposit criteria can withdraw up to MYR50,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
Applicants in the Sarawak program must EITHER 1) show proof of monthly off shore income /government guaranteed pension funds of RM 7,000 for unmarried applicants or RM10,000 for married couples or RM; OR 2) Open a fixed deposit account of RM100, 000 in a bank or financial institution for single individuals or RM150, 000.00 for married couples.
After a period of one year Sarawak MM2H participants who choose to open a fixed deposit account may withdraw up to RM90, 000 (couple) or RM40, 000 (single) for approved expenses relating to the purchase of a house, car, and education of children or for medical purposes.
[8] All applicants and their dependents (spouse and children) are required to submit a medical report from any private hospital in Malaysia.
Approved participants and dependants (spouse and children) must possess a valid medical insurance policy covering their stay in Malaysia.
However, Ministry of Finance will give special consideration to MM2H participant with first MM2H’s Visa approved beginning 1 January 2017 until 31 December 2017 to submit complete application via Sistem Maklumat Pengurusan Cukai / Sistem Maklumat Pengurusan Cukai Kerajaan Malaysia not later than 31 December 2018.
[citation needed] Applications for those wishing to reside in Peninsular Malaysia are accepted at the MM2H One-Stop centre in Kuala Lumpur.
[citation needed] On 2 July 2020, Minister of Tourism, Arts and Culture Nancy Shukri announced that the MM2H programme has been temporarily frozen until December 2020 for review and further improvement.