There are legitimate claims that our borders are porous. We have an estimated 4.6 million illegal foreign workers in the country. What are we doing about this? Ermm.. we're tightening MM2H approvals and don't think it's worth promoting to the fullest.
MM2H applicants must show proof of a minimum income of RM10,000 per month outside of Malaysia. They have to place RM300,000 in fixed deposit at a local bank for the duration of their visa (if they're above 55 years, then it's RM150,000). They also buy properties in the luxury segment.
In the video below, I share my thought on MM2H.
In closing, think about this: 10,000 MM2H approvals would mean about RM3 billion inflow into the country as FD. That is also potentially 10,000 properties sold.