August 20, 2009 — KUALA LUMPUR, MALAYSIA — If you were looking to relocate to another country for business or personal purposes, wouldn’t it be nice to receive a handful of tax exemptions and loan breaks in the process? Cabana Worldwide, a relocation consultation company based in Malaysia, helps its clients save money and live well in Malaysia with a relocation package called the Malaysia My Second Home Program (MM2H).
The Malaysia second home program is sanctioned by the Malaysian government and provides several benefits to the applicant. According to www.mm2h.gov/my, in addition to filling out the MM2H application, new applicants are required to provide a resume, a copy of his or her passport, letter of conduct from his or her government, marriage certificate (if applicable), birth certificate, bank statements, certified income statements, and more. Also, applicants have to provide proof of asset levels. These asset level requirements vary upon age and other criteria established by the Malaysian government.
Many individuals looking to establish themselves in Malaysia find it difficult to handle the application process, especially when it comes to property laws for non-citizens and taxation says Amin Najafizadeh of Cabana Worldwide.
“Things can get pretty complicated when moving from one country to another,” said Najafizadeh. “Keeping up with the application process,
collecting the proper materials for the application, and filing the application correctly can become a daunting task. Fortunately, Cabana Worldwide can help businesses and individuals looking to enter Malaysia get established with minimal hassle and without worry. We make sure our clients are 100% ready to enter Malaysia, and we know how to get them a few bonuses along the way.”
Through the MM2H Malaysia program, Cabana Worldwide can help clients to a 10-year long-term social visit pass, which also allows a visa holder’s family into Malaysia automatically if they are below 21. Also, the applicant’s spouse is admitted without question and parents are admitted as dependants as long as they are over the age of 60.
“One of the great things about MM2H is that the visa holder can bring his or her family to Malaysia with very little trouble,” said Najafizadeh. “It is a great feeling to not only help our clients enter beautiful Malaysia, but to help them bring their entire family along for the incredible journey.”
When starting out in Malaysia, MM2H visa holders will also benefit from considerable advantages when applying for a housing loan. Applicants can be approved for a loan up to 85% of the property’s value, whereas non MM2H foreigners receive 60%. This means that non MM2H foreigners have to pay 40% of the property value up front, whereas MM2H visa holders pay 15%.
“The housing loan reductions alone are reason enough to apply for a MM2H visa,” said Najafizadeh. In addition to the loan breaks, MM2H holders will not need the Foreign Investment Committee’s (FIC) approval, and all property deeds are wholly registered under the foreigner’s name.
MM2H visa holders are also allowed to import a vehicle within the first six months of being awarded the visa. Importing an automobile under MM2H provides exemptions from import duty, excise duty, and sales tax payments upon receiving an approved permit (AP). Applicants can also purchase a vehicle in Malaysia within the first year of receiving the MM2H visa and benefit from sales tax and excise duty exemptions.
Perhaps the biggest benefit of the MM2H program is the lack of taxation on income, notes Najafizadeh. Under this program, visa holders will not be liable to pay income tax to the Malaysian government for income received overseas.
“Many people think that countries of South East Asia such as Malaysia are inaccessible or backwards,” says Najafizadeh. “Cabana Worldwide is showing the world that Malaysia is a diverse, verdant country with so much to offer its citizens and foreigners, one client at a time.”
Regulations of the MM2H program, including loan rates and tax exemptions may vary per applicant. For more information on the MM2H program, visit the Cabana Worldwide Web site at http://www.cabanaco.com/.
In addition to MM2H consultation, Cabana Worldwide offers help to those looking to rent, buy, or sell property in Malaysia. The company also provides assistance for people looking to establish a company in Malaysia or offshore formation. On the company Web site, Cabana Worldwide also provides information on Malaysia’s tourism attractions and other information about the country.
Learn More
If you would like to learn more about the MM2H Malaysia program or the other programs available through Cabana Worldwide, visit: http://www.cabanaco.com/ , email: info@cabanaco.com, or call: +603 23002485
Cabana Worldwide
Cabana Worldwide is a company established by property and business consultant professionals with a clear vision of how to provide world-class services. The group, having its substantial presence in Malaysia (Kuala Lumpur) and Dubai has an excellent understanding of local economies,laws, and procedures. This enables Cabana Worldwide to provide full assistance throughout every step of our service programs.
Cabana Worldwide specializes in property and business consultation, and aims to establish itself as the market leader in international business and property consultation. Due to the vast experience and resources at the disposal of our staff, the company is able to offer clients assistance in all aspects of property consultation, property management, offshore and (Sendirian Berhad) company formation, financing consultation, and the MM2H Program in Malaysia.
Cabana Worldwide strives to help its clients excel and our people respond successfully to an ever-changing business environment. We also look to remain competitive and deliver premium services to our clients. Cabana Worldwide draws on the unparalleled expertise of its staff and aims toover-deliver on results.
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