MM2H targets wealthy mainland Chinese

 
SHANGHAI: Tourism Minister Datuk Seri Dr Ng Yen Yen recently hosted some 1,000 distinguished guests from various parts of China during a campaign in Shanghai to introduce well-heeled Chinese to the Malaysia My Second Home (MM2H) programme.
 
Ng noted that those being sought for the MM2H programme were no ordinary people. Only those who qualify, those who really have financial resources, can make Malaysia their second home. In turn, Malaysia offers a multicultural and dynamic environment, natural resources, a stable political climate and a robust economy for the Chinese to grow their wealth.
 
"MM2H is meant to attract more investors to Malaysia. They not only come to live in Malaysia, but also to invest," Ng told Bernama, adding that about 1,000 mainland Chinese were expected to participate in MM2H in 2013.
 
Under the programme, foreigners who fulfill the requirements are allowed to reside in Malaysia as long as they choose and are provided multiple-entry visas. They are also offered access to education, allowed to invest in properties, and their income from offshore activities are exempted from taxes.
 
"These people want to procure assets, open businesses and invest. So they are not only coming to stay in Malaysia, but also to invest in Malaysia," explained Ng.
 
Nevertheless, from January to August 2012 475 Chinese nationals joined the programme, a increase of 25.7 per cent compared with the same period in 2011.
 
"Through MM2H, they will stay longer in the country and contribute to our country's economy," she pointed out. Apart from participating in MM2H, the ministry also encourages tour agents
to promote Malaysia's eco-tourism, as this is a sector that is increasingly attractive to younger Chinese.
 
Among the locations preferred by these Chinese are Sabah and Sarawak, known for their rich and unique flora and fauna. This is also in line with Visit Malaysia Year 2013. 
 
Source: Bernama.com, 27 Nov 2012