Malaysia My Second Home Programme
Malaysia My Second Home Programme (MM2H) is a Malaysian Government's initiative to encourage and attract citizens from all countries recognized by Malaysia regardless of race, religion, gender or age, who fulfill certain qualifying criteria, to reside in Malaysia for as long as possible on a social visit pass with a multiple entry visa. The social visit pass is valid for an initial period of ten (10) years renewable thereafter subject to the validity of the passport.
Participants are also allowed to bring with them their spouse and unmarried children up to eighteen (18) years of age.
Terms And Conditions
Aged Less than 50 years old
- Open a fixed deposit account of RM300,000.00
- After a period of one year, the participant can withdraw up to RM240,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
- Must maintain a minimum balance of RM60,000.00 from second year onwards and throughout stay in Malaysia under this programme
Aged more than 50 years old
- Open a fixed deposit account of RM150,000.00
- After a period of one year, participant who fulfills the fixed deposit criteria can withdraw up to RM90,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes
- Participant must maintain a minimum balance of RM60,000.00 from the second year onwards and throughout his/her stay in Malaysia under this programme - or - Show proof of monthly off-shore income of RM10,000.00 such as pension scheme.
WE PROVIDE THE FOLLOWING SERVICES:
- Brief on the prevailing terms and conditions of the programme.
- Familiarization with Malaysia and/or visit if required.
- Compilation of appropriate support documentation.
- Completion and lodgement of application.
- Keep you informed throughout the application approval process.
- Inform you of conditional approval and the terms & conditions thereof.
- Meet you on arrival and arrange for accommodation.
- Arrangement for medical check-up and medical report.
- Arrangement for medical insurance policy.
- Introduction to a banker of your choice for the opening of fixed deposit account.
- Arrangement for visit to the Immigration Department of Malaysia for endorsement of passport with the Malaysia My Second Home visa.
- House purchase or rental.
- Mortagage arrangement.
- Business start-up advisory.
- Application for importing a personal car or purchasing a locally assembled car free of duties and taxes.
- Application for bringing in a foreign domestic helper.
- Registration in private colleges and universities and application for student pass for dependent children.
- Any other services upon request.
INCENTIVES AVAILABLE UNDER THE PROGRAMME
- Participant will be given a renewable ten (10) year social visit pass with multiple entry visa (MEV). No restrictions on the number of visits and the length of stay for each visit.
- Eligible for import of a personal car or purchase of a locally assembled car free of import duty, excise duty and sales tax (conditions apply).
- Each participant is allowed to bring in a foreign domestic helper (conditions apply).
- Each participant is allowed to purchase residential properties in Malaysia subject to the following minimum prices:-
- RM300,000 each for the State of Sarawak with the exception of Kuching, Sibu and Miri where the minimum purchase price is RM350,000.
- RM250,000 each in Kuala Lumpur and all other states.
- Overseas pensions and other income remitted to Malaysia are not taxable in Malaysia.
- Interest income derived from the participant’s fixed deposit account in Malaysia is exempted from income tax subject to the following conditions:
- -If the fixed deposit is for a period exceeding twelve (12) months, all interest derived is tax exempt.
- If the fixed deposit is for a period of twelve (12) months or less, only interest on deposit up to a maximum amount of RM100,000 is tax exempt.
Malaysia is a tropical paradise with pleasant, warm and balmy weather. Temperatures generally range from 21° to 32° Celsius with moderate rainfall in most parts of the country throughout the year.
- CULTURE & LANGUAGE
Malaysia, with a population of about 24 million (2005), is a multi-cultural society made up of mainly Malays, Chinese, Indians and other indigenous people including the Kadazans and Ibans in Sabah & Sarawak.
The national language is Bahasa Melayu. Many other languages such as English, Mandarin and Tamil are also widely used and spoken in Malaysia.
- COST OF LIVING
Cost of living in Malaysia is considered as one of the lowest in Asia with reasonable prices in housing, food, clothing, education, healthcare, entertainment & recreation and most other goods and services.
- POLITICAL STABILITY
The ruling coalition government in Malaysia is one of the longest serving elected governments in the world, comprising several political parties representing a diversity of ethnic groups in Malaysia.
Islam is the official religion of Malaysia but the constitution guarantees the right of people to practice other religions.
Malaysia offers a vast array of local and international cuisines catering to all tastes and budgets.
Malaysia has one of the best developed education systems in the region, offering high quality education which is flexible and challenging. There are many English medium international schools available in most major cities. There are also many local private colleges and universities offering twinning programs with major colleges and universities from around the world.
- MEDICAL FACILITIES
The country has a well developed healthcare system where medical services of international standards are available at reasonable costs. Private hospitals and clinics with state-of-the art medical facilities and highly qualified doctors and nurses are readily accessible in all major cities.
From local ethnic handicrafts to the best of international brands, there is something for everyone in Malaysia. You can shop in the comfort of air-conditioned shopping centres and hypermarkets or meander through the many shopping arcades and laneways easily accessible in all major cities.
There are many housing options available in Malaysia. Terraced and semi-detached houses, townhouses and condominiums, bungalows, beach houses etc are available all over the country.
Participants under the Malaysia My Second Home Programme are allowed to purchase up to two units of residential properties subject to some conditions
Please contact us to receive more information