Malaysia My Second Home Programme (MM2H)
Application and Requirements
Successful applicants are required to comply with the following financial criteria upon receipt of the conditional approval letter from the Immigration Department of Malaysia.
Aged Below 50 Years Old
Open a fixed deposit account of RM300,000
After a period of one year, the participant may withdraw up to RM150,000 for approved.
Expenses relating to house purchase, education for children in Malaysia and medical purposes.
Participant must maintain a minimum of RM150,000 from the second year onwards and throughout the stay in Malaysia under this programme.
Approved participants who have purchased and owned property bought at RM1 million and above in Malaysia may comply with the basic fixed deposit requirement of RM150,000 on condition that the property has been fully paid and ownership documents such as grant and land title have already been issued. This amount may not be withdrawn until the participant decides to terminate his/her participation in the MM2H programme.
Aged 50 Years and Above
Under this category, you may either choose to :
– Open a fixed deposit account of RM150,000; or
– Present proof of government-approved pension funds of RM10,000 per month
After a period of one year, the participants who fulfill the fixed deposit criterion may :
– Withdraw up to RM50,000 for approved expenses relating to house purchase, education for children in Malaysia and medical expenses.
– Participant must maintain a minimum of RM100,000 from the second year onwards and throughout his/her stay in Malaysia under this programme.
Approved participants who have purchased and owned property bought at RM1 million and above in Malaysia may comply with the basic fixed deposit requirement of RM100,000 on condition that the property has been fully paid and ownership documents such as grant and land title have already been issued. This amount may not be withdrawn until the participant decides to terminate his/her participation in the MM2H programme.
BENEFITS OF THE MM2H PROGRAMME
Continuous Stay in Malaysia
Participants can stay in Malaysia as long as they can renew their MM2H visa as long as they wish.
Freedom to Travel
There is no minimum stay requirement for participants to fulfill. You are free to travel around at any time.
Special Visa for Parents
Parents of participants who are over 60 years old are allowed to come together under a special social visit for duration of 6 months, renewable till the expiry of participants’ visa.
Malaysia has bilateral agreements for the automatic conversion of driving licenses with 156 different countries.
Car Purchase / Import
Participants are allowed to purchase a locally-assembled car without the need to pay import duty, excise duty and sales tax, which can save up to 40%. The application for tax exemption shall be submitted within 1 year from the date of MM2H visa endorsement.
Alternatively, participants can also bring in their “Personal Car” which they owned before the application for MM2H program by forwarding the application to the Ministry of Finance, Malaysia within 6 months from the date of MM2H visa endorsement.
However, the particpants must keep the personal car for 2 years before his/her is allowed to transfer to the new owner. Prior approval must be obtained from the Ministry of Finance, Malaysia before the transfers, besides settling the incurred taxes either by participant or buyer to the Royal Malaysian Customs Department.
Participants are allowed to purchase any number of residential properties priced RM500,000 and above per unit.
Children who are below 21 years old and not married will be allowed to follow as dependants under this program. However, they will have to apply for a Student Pass after they have secured the entry to a Private Education Institute and should be insured throughout their stay under this program.
Investment / Business
Participants are allowed to invest in Malaysia. You may hold executives position with ownership to the company. Besides, participants are also allowed to start their own business in Malaysia as log as it is incorporated and registered with the Registrar of Companied Malaysia.
Working Part Time
Participants aged above 50 years old are allowed to work 20 hours a week at approved sectors.
Participants are bound by the policies, systems and regulations of taxes of this country and they do not have exemption qualifications as granted to Diplomatic Missions in Malaysia. However, tax exemptions are given to pension remitted into Malaysia. Participants are required to obtain the endorsement from the authorities in their country of origin as to the total amount of yearly pension received. A copy of this letter has to be submitted in their application.
The cost of full-time domestic help in Malaysia starts from as low as RM500 per month (approximately USD130).