We present the status and the perspectives of the MEG experiment which searched for the Lepton Flavour Violating decay $\mu^{+} \rightarrow {\rm e^{+}} \gamma$ for several years. In the full dataset corresponding to $7.4 \times 10^{14}$ positive muons stopped on target we didn't find any evidence for this decay and we set an upper bound on the $\mu^{+} \rightarrow {\rm e^{+}} \gamma$ branching ratio of $4.2 \times 10^{-13}$ at $90\,\%$ C.L., with a sensitivity of $5.3 \times 10^{-13}$, which improves our previous world best limit by a factor of $1.5$ and the best limit set by past experiments by a factor of $30$. On the basis of the experience gained in MEG phase I we elaborated an upgrade plan of our detector, which was approved by the host laboratory and is presently in setting-up stage. We discuss here the status of the MEG upgrade (MEG II), which aims to improve the experimental sensitivity by a further order of magnitude.