The number of Bangladeshis getting Malaysia's long-term residency programme crossed 4,000.
A total 4,018 Bangladeshis have availed the "Malaysia My Second Home" (MM2H) facility since its inception in 2002, according to the Kuala Lumpur authority.
The MM2H programme provides social visit pass that enables beneficiaries to stay in Malaysia for 10 years. The Malaysian government is now promoting its country as a 'retirement destination' through the programme.
According to the ministry of tourism, arts and culture Malaysia (Motac), around 40,000 citizens from more than 130 countries received the facility from 2002 through June 2018.
Chinese citizens topped the position with 11,820 approved applications, followed by 4,618 Japanese, and 4,018 Bangladeshis.
These countries are followed by the United Kingdom (2,608), South Korea (2,069), Singapore (1,421), Iran (1,381), Taiwan (1,347), Pakistan (1,017) and India (1,008).
Bangladeshis currently share more than 10 per cent of the total MM2H beneficiaries.
In 2005, the highest number of Bangladeshis (852) availed the benefits. The second highest number was 451 in 2017.
To avail a second home in Malaysia under the programme, any Bangladeshi aged below 50 years old has to present his/her proof of liquid assets worth a minimum of RM 0.50 million or around US$ 0.12 million along with an offshore income of RM 10,000 or at least US$ 2,450 per month.
For the applicant aged 50 years or above, there is a relaxation. He or she has to show a proof of RM 0.35 million or around $ 86,000 along with an offshore income of RM 10,000 per month.
Thus, a Bangladeshi citizen has to invest at least Taka 7.20 million to get the 10-year residency permit in Malaysia.
Bangladeshis availing the MM2H are believed to have stashed a good amount of money from the country as there is no legal scope to transfer funds to the second country investing in real estate.
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