Over 3,500 Bangladeshis join KL’s 2nd home scheme

Staff Correspondent | Update:

Twin towerBangladeshis are the third largest group in making Malaysia their second homes, taking advantage of Kuala Lumpur’s official scheme to attract rich foreigners, according to media reports.

Reports of setting up of second home abroad and siphoning off money to overseas banks by Bangladeshis created a lot of controversies, especially on the political front, in recent times.

Official data show, as many as 3,546 Bangladeshis have secured approval of their houses by the Malaysian government since the inception of the programme in 2002, said The New Straits Time in a report published on Thursday.

Only the Chinese and Japanese nationals are reportedly ahead of Bangladeshis - there are a total of 8,714 approved participants from China and 4,225 from Japan.

Since its inception in 2002, the Malaysia My Second Home (MM2H) programme has approved the applications of 33,300 people from 126 countries, the newspaper pointed out.

It quoted tourism and culture minister Datuk Seri Nazri Aziz as saying that Malaysia My Second Home (MM2H) programme has clearly been well received.

"China remains the top participating country, with almost 8,714 approved participants, followed by Japan with 4,225; Bangladesh (3,546); the United Kingdom (2,412); lran (1,336); Singapore (1,295); Taiwan (1,208); South Korea (1,266); Pakistan (973); and lndia (890)," he was said to have told an MM2H national workshop.

The Time quoting Nazri said tangible benefits and revenue contributed to the local economy by MM2H participants amount to RM12.8 billion to date.

"Visa fee collection (including multiple entry, social pass and journey performance visa where applicable) amounts to RM52 million. The yearly collection target is RM7.5 million.”

Fixed deposits amount to RM4.9 billion; the purchase of automobiles amount to RM148 million; while the purchase of property amounts to RM4.9 billion, said the newspaper report.

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