ABOUT THE PROGRAM
Malaysia My Second Home Programme (MM2H) is sponsored by the Government of Malaysia to welcome expatriates with fulfilled criteria, to stay in Malaysia on a multiple-entry social visit pass or obtain legal residency. This Social Visit Pass is valid for ten (10) years, and thereafter is renewable.
It is open to citizens of countries recognized by Malaysia – regardless of race, religion, gender or age. The programme allows applicants to bring with them their spouses, parents (above the age of 60) and unmarried children (below the age 21). Foreign spouses of Malaysians and expatriates who wish to retire in Malaysia after the expiration of their Employment Passes are also eligible to apply to stay in Malaysia through this programme.
TERMS AND CONDITIONS
FINANCES / INCOME
1. Applicants aged below 50 years are required to show proof of liquid assets worth a minimum of RM500,000 and offshore income of RM10,000 per month.
2. Applicants aged 50 and above may comply with the financial proof of RM350,000 in liquid assets and off shore income of RM10,000 per month. For those who have retired, they are required to show proof of receiving pension from government approved funds of RM 10,000 per month.
3. New applicants who have purchased properties worth at least RM 1 million qualify to place a lower fixed deposit amount upon approval.
Successful applicants are required to comply with the following financial criterias upon receipt of the `conditional approval letter’ from Immigration Department of Malaysia.
1) Upon Approval: Aged Below 50 years old
– Open a fixed deposit account of RM300,000.00
– After a period of one year, the participant can withdraw up to RM150,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
– Must maintain a minimum balance of RM150,000.00 from second year onwards and throughout stay in Malaysia under this programme.
Approved applicants are required to comply and own a property bought at RM1 million and above in Malaysia may comply with the basic fixed deposit requirement of RM 150,000 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 This amount may not be withdrawn until the participant decides to terminate his participation in MM2H programme.
2) Upon Approval : Aged 50 years and above
Can either choose to:
– Open a fixed deposit account of RM150,000.00 ; OR
– Show proof of government approved pension funds of RM10,000
After a period of one year, participant who fulfills the fixed deposit criterion can withdraw up to RM50,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
Participant must maintain a minimum balance of RM100,000.00 from the second year onwards and throughout his/her stay in Malaysia under this programme.
Approved applicants are required to comply and own a property bought at RM1 million and above in Malaysia may comply with the basic fixed deposit requirement of RM 100,000, 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 participation in MM2H programme.
Approved participants and their dependants must possess valid medical insurance coverage that is applicable in Malaysia from any insurance company.
However, exemptions may be given for participants who face difficulty in obtaining a medical insurance due to their age or medical condition.
Medical checkup is required for all participants (including spouse and children). The procedures only take place when you come in for passport endorsement, not during application.
Any participant is allowed to purchase any number of residential properties in Malaysia, subject to the minimum rates established by the respective state governments. It is advisable to check with local state governments for the effective minimum purchase price for foreigners before making a commitment.
Each participant is allowed to bring in his / her own personal car OR to purchase a locally-assembled car without the need to pay import duty, excise duty and sales tax.
Each applicant is allowed to apply for one domestic helper subject to the prevailing guidelines of the Immigration Department of Malaysia.
Applicants are allowed to bring their children (below the age 21 years old and not married) as their dependants under this programme. Children who intend to continue their schooling in Malaysia are required to apply for a Student Pass and should be insured throughout their entire stay under this programme.
Participants are bound by the policies, systems and regulations of taxes of the country and they do not have exemption privileges granted to diplomats in Malaysia. However, tax exemption is given to pension remitted into Malaysia.