MM2H programme

Malaysia My Second Home Programme (MM2H) is promoted by the Government of Malaysia to allow foreigners who fulfil certain criteria, to stay in Malaysia for as long as possible on a multiple-entry social visit pass. The Social Visit Pass is initially for a period of ten (10) years, and is renewable. Foreigners married to Malaysians are not eligible and are required to obtain a spouse permit.


ELIGIBILITY

It is open to citizens of countries recognised 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 of 21 as dependants. Foreign spouses of Malaysians and expatriates who wish to retire in Malaysia after expiry of their Employment Passes are also eligible to apply to stay in Malaysia on this programme.

Applicants are allowed to bring their spouses, unmarried children below the age of 21 and parents above the age of 60 as dependants.

The Malaysia My Second Home programme grants visa holders a renewable, ten year, multiple entry social visa pass. The following sets out the terms and conditions and other benefits for visa holders.

FINANCIAL REQUIREMENT
Applicants are expected to be financially capable of supporting themselves on this programme in Malaysia.
Upon application:
  • 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.
  • 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.
  • New applicants who have purchased properties worth at least RM 1 million qualify to place a lower fixed deposit amount upon approval.

MEDICAL REPORT
All applicants and their dependants are required to submit a medical report from any private hospital or registered clinic in Malaysia.

MEDICAL INSURANCE
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 medical insurance due to their age or medical condition.

SECURITY BOND
Direct Application only
Applicants applying directly are required to fulfill the security bond condition. Please refer to Personal Bond for rate per person by nationality, ranging from RM200-RM2000.

PERSONAL BOND
Application Through Agent
Licensed companies are required to provide the personal bond for their clients who have been approved under the MM2H Program.

 

UPON APPROVAL
Successful applicants are required to comply with the following financial criteria upon receipt of the `conditional approval letter' from the Immigration Department of Malaysia.

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 the second year onwards and throughout stay in Malaysia under this programme.

Approved participants who have purchased and own property which was 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 participation in the MM2H programme.

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 participants who have purchased and own property which was 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 participation in the MM2H programme.

TAXES
Successful applicants are bound by the policies, systems and regulations of taxes of this country however their overseas income will not be taxed in Malaysia.

SECURITY VETTING
Approvals are given subject to security vetting clearance conducted by the Royal Malaysian Police.

RESTRICTIONS
Successful applicants are STRICTLY forbidden from the following:
  • Being employed anywhere in Malaysia unless approved by the government.
  • Participating in activities that can be considered as sensitive to the local people such as political or missionary activities.


 
BENEFITS FOR MM2H VISA HOLDERS
 
Ten Year Visa
Successful applicants will receive a ten year visa which allows them multiple entry and exit from the country. This visa will be renewed at the end of its validity.

House Purchase
Please be informed that property purchase is not a pre-requisite for participating in MM2H programme.
Any foreigner may purchase any number of residential property in Malaysia, subject to the minimum rates established for foreigners by the different states. They start from RM500,000 per unit for most states, from 1st January 2010. Land is a state matter and it is important to check state laws before making any commitment, as the minimum purchase price is not standardised between states.
We advise buying homes which are already issued with certificates of fitness but if you intend to purchase from developers, ensure that it is a reputable company.
Also ensure that your lawyer does a thorough check with the local land office that you have ownership rights to any property that you are purchasing. Profit made on the sale of property is 5% (Real Property Gains Tax).

Education
Applicants are allowed to bring their children who are under 21 years old and are 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 stay under this programme.

Domestic Helper
Each applicant is allowed to apply for one maid subject to the prevailing guidelines of the Immigration Department of Malaysia.
  Tax
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 exemption is 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.

Car Purchase
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. Application to IMPORT a motorcar from the participant’s country of citizenship/last domicile must be forwarded to the Ministry of Finance within a period of six months from the endorsement date of Malaysia My Second Home (MM2H) social visit pass. The condition for such importation is that the MM2H participant should be the owner of the motorcar prior to obtaining the MM2H visa, as evidenced in the motorcar registration document.
An Application to PURCHASE a new motorcar made or assembled in Malaysia must be must be forwarded to the Ministry of Finance within a period of one year from the endorsement date of Malaysia My Second Home (MM2H) social visit pass.
 
Disclaimer :
This information has been extracted from the principal site and may not be the latest. For details, please visit http://www.mm2h.gov.my