Global Asia Asset, the Japanese asset consulting firm, is spearheading efforts to build a small community in Malaysia that would attract Japan's wealthy, according to local reports. 

The proposed "Little Japan" township is a self-contained community located in Johor Baru and is complete with restaurants, medical facilities and retirement homes for Japanese individuals interested in making Malaysia their second home. 

At a recent charity event held in aid of victims of the disasters that hit Japan in 2011, Fujimura Masanori, chief executive of Global Asia Asset, told the media that the project has received positive response from Japanese clients, who have so far bought 50 per cent of a high-end condominium project in Little Japan.

To-date, some 70 Japanese individuals have relocated to Malaysia under the Malaysian Government's "Malaysia My Second Home" programme. The company says it hopes to bring in as many as 2,000 Japanese settlers and investors to the development over the next few years.

"Johor Baru's proximity to Singapore, coupled with good infrastructure, fine weather, the government's commitment to boost safety and security and the virtual absence of natural disasters like earthquakes, makes it an ideal place for Japanese to make it their second home," Fujimura was quoted as saying. 

Under the Malaysia My Second Home programme, foreigners are granted a visa that allows them to stay in Malaysia for up to ten years provided they meet certain criteria.