MM2H senior assistant director Sharifah Ikhlas cited the two reasons in a report by the Japan Times, adding that the reduced numbers could also be attributed to a lack of funds to promote the programme.
She was referring to data showing that around 200 Japanese citizens moved here under the programme this year, compared with a high of 816 in 2012.
However, the director of a company appointed as an official agent by MM2H, said that the lower number of Japanese migrating here this year was nothing out of the ordinary.
NS Vision Marketing director Naoki Nakamura said it is about the same rate of migration by Japanese to Malaysia under MM2H prior to the devastating March 2011 earthquake and tsunami, and the consequent nuclear disaster, in Japan.
“We had seen a surge in visa applications as people wanted to escape the risks (posed by the nuclear disaster),” he said.
He added that the recent decline in people wanting to migrate was because fewer people feared a repeat of such a cataclysmic event as that which affected the Fukushima, Miyagi and Iwate prefectures in northeast Japan.
According to the daily, among the primary reasons given by Japanese wanting to resettle in Malaysia were the low cost of living, tropical climate and MM2H tax benefits.
“With the majority of migrants from Japan being 50 years or older, overseas long stays can be one of the ideal options for their second life,” Sharifah was quoted as saying.
Malaysia My Second Home
The MM2H programme, which was launched in 2002, is open to all foreigners subject to certain conditions.
Those under 50 years of age need to bring in at least RM500,000 in terms of cash and have a monthly income of RM10,000.
For those over 50, all that is required is RM350,000 cash and a monthly income of RM10,000.
Meanwhile, foreigners who have retired in their country of origin, just need to show they are earning a pension or other forms of monthly income amounting to RM10,000 per month.
According to the tourism and culture ministry, the number of Japanese approved under the programme stood at 4,295 as of June this year, with the Japanese being second only to migrants from China, who number at 9,280.