Malaysia My Second Home (MM2H) is a program promoted by the Malaysia Tourism Authority and the Immigration Department of Malaysia, to allow foreigners to stay in Malaysia for a period of ten (10) years.
Eligibility
It is open to citizens of all countries recognised by Malaysia regardless of race, religion, gender or age. Applicants can bring their spouses and unmarried children below the age of 21 as dependents.
So far over 42,000 people have been approved for the MM2H visa (as at 2018 statistics). http://www.mm2h.gov.my/index.php/en/home/programme/statistics
Malaysia My Second Home Program (MM2H)
FINANCIAL REQUIREMENTS
Applicants are expected to be financially capable of supporting themselves on this program in Malaysia.
Upon Application:
Applicants aged below 50 years
Required to show proof of liquid assets worth a minimum of RM500,000 and offshore income of RM10,000 per month. For certified copy(s) of Current Account submitted as financial proof, applicants must provide the latest 3 months’ statement with each month’s credit balance of RM 500,000.
Applicants aged 50 and above
Comply with the financial proof of RM350,000 in liquid assets and offshore income of RM10,000 per month. For certified copy(s) of Current Account submitted as financial proof, applicants must provide the latest 3 months’ statement with each month’s credit balance of RM 350,000. For government pensioners, they can show proof of receiving pension of at least RM 10,000 per month.
Upon Application:
Applicants aged below 50 years
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 program
Applicants aged 50 and above
Open a fixed deposit account of RM 150,000.00
After a period of one year, participant who fulfils 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 program.
To summarize the above, please refer to the table below:
| Age | Minimum Liquid Assets | Minimum Offshore Monthly Income | Fixed Deposits Amount |
| Below 50 years old | RM500,000 | RM10,000 | RM300,000 |
| 50 years old and above | RM350,000 | RM10,000 | RM150,000 |
MEDICAL REPORT & INSURANCE
All applicants and their dependents are required to submit a medical report from any private hospital or registered clinic in Malaysia.
Approved participants and their dependents must possess valid medical insurance coverage that is applicable in Malaysia from any insurance company.
PERSONAL BOND
Applicants applying are required to fulfill the personal security bond. Please refer to personal bond rate per person by nationality, ranging from RM200 to RM2,000.00.
RESTRICTION
Participants are not allowed to work or be employed while staying in Malaysia. Persons wishing work in Malaysia must apply employment pass visa (EP) via Immigration Department of Malaysia.
Participants should not participate in activities that can be considered sensitive to the local people and/or a threat to the security of the country.
REGISTER OF BUSINESS
MM2H holders can register a business incorporated in Malaysia. Guideline for incorporation of a Malaysian company can obtain from Companies Commission of Malaysia via registered company secretarial service provider.
You can own and run your business activities as the director of the company without having to employ any Malaysian national as a director. You can invest in Malaysia’s share market and unit trust to earn revenue too. You can even put your money into investment properties.
However, be warned that as a company’s investor, the Malaysian Government restricts MM2H holders to be actively involved in the daily activities of the business. It is only permissible if you are willing to change your visa status from MM2H to a Director / Employment Pass Visa.
DOCUMENTS TRANSLATION
All documents can be presented in English. In the event the documents aren’t in English, need to translate and notary by respective notarial department.
PROPERTY PURCHASES
Each participant is permitted to purchase residential houses at a minimum price above MYR 1,000,000 (1M) each such as Kuala Lumpur and Penang that are pre-approved by the Foreign Investment Committee of Malaysia. In many other areas the minimum price or purchased property is lower.
MM2H holders can take a home loan to finance your house. The loan tenure will up to the maximum age of 65 years or up to 30 years, whichever is lower.
Loan margin ranging from 60 – 80% depending on your borrowing profile, you are advise to consult with us / bank partners for confirmation.
Real Property Gain Tax
First 5 years – 30%
6th year onwards – 10%
CAR PURCHASE
As an MM2H holder, you can buy a car to commute in Malaysia. Petrol and car maintenance are relatively cheap in Malaysia. Moreover, securing a car loan is straight forward – all you have to do is to fork up a maximum of 30% of the purchase price up front and the rest can be financed by a hire purchase loan.
Previously, you could import a car from your country of origin or buy a locally assembled car in Malaysia free of any taxes. However, with effect from 1 January 2018, MM2H holders will be subjected to excise duty and sales tax for the purchases of new or second-hand cars.
As for a driver’s license, you can attend any driving school in Malaysia and sit for a driver’s exam to obtain a domestic driver’s license. This is applicable even if you had a driver’s license previously because foreigners are not allowed to convert their license unless they have diplomat pass or own a Singaporean driving license.
CREDIT CARDS
You can apply for any number of credit cards as you wish considering that you have a good credit score and have an annual income of at least RM 30,000. Since your records are already showing a monthly offshore income of RM 10,000 monthly and that you have a fixed deposit account for your MM2H program, you will not have any problem getting your application (s) accepted.
DOMESTIC HELPER
Each participant can apply for one maid subject to the prevailing guidelines of the Immigration Department of Malaysia. Please refer to immigration department for the latest requirement
EDUCATION
MM2H participants can bring their children who are below 21 years old and not married as their dependents. Dependents who intend to continue their schooling in Malaysia are required to apply for a student pass. However, the participants are required to be responsible for all the living costs including study fees for their dependents while living in Malaysia.
TAX
Tax exemption is given to remittance of offshore pension fund into Malaysia. Foreign-source income is not taxable in Malaysia.
STEPS TO APPLY MM2H
Step 1: Pre-submission
Step 2: Submit Your Application
Step 3: Conditional Approval Letter Issued
Step 4: Arrival In Malaysia
Step 5: Submit Remaining Documents
Step 6: Collect Visa
Chinese: 马来西亚第二家园计划签证
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