ASEAN KEY DESTINATIONS
China tops Malaysia's residency scheme
There were 3,332 Chinese participants as of August, making it the highest number of all MM2H participants, said Tourism Minister Dr Ng Yen Yen.
From January to August, 475 Chinese nationals joined the programme compared with 133 the same period last year, she said.
“We expect to see a substantial increase in the number of participants from China from next year onwards,” she said during the memorandum of understanding signing ceremony between the ministry and the Bank of China (BOC), for the latter to promote MM2H to all its bank customers through its branches in China and other parts of the world.
Dr Ng pointed out that with 10,961 branches in and outside China (six in Malaysia), the bank has 300,000 high net worth (more than US$1 million) customers.
Dr Ng said Malaysia needed to maintain its economic vibrancy not just by drawing tourists in but also by getting them to stay longer.
For the programme, successful applicants are given a 10-year social visit pass with a multiple entry visa which is renewable for as long as they like. besides enjoying tax-free income from abroad.
Ambassador of China to Malaysia Chai Xi said he foresaw the number of Chinese nationals participating in MM2H to triple in five years.
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