MALAYSIA MY SECOND HOME (MM2H) PROGRAM

What is MM2H?

MM2H (Malaysia my second home program) is a government programmed for all foreigners to stay in Malaysia for a long period, via a long-term social visit pass renewable every 10 years.

Why Malaysia?

Malaysia is situated in the heart of South East Asia, it reflects the very essence of Asia: the exotic blend of cultures? Malay, Chinese, Indian and the influences of the British, Dutch, Portuguese and Thais, can be found in just one destination.

A land with so much to see, do and experience. Malaysia is filled with natural beauty, exciting nature adventures, world class sporting events, friendly people and best of all; it offers the most diverse type of food in the region. Its relatively high standard of living with one of the lowest cost of living in this region, strategic location supported by excellent infrastructure, easily accessible via air, sea or land. All these have made Malaysia a top choice for a relaxing, good quality and easy lifestyle second home.

Furthermore, with the availability of good properties at much lower prices as compared to other regions, medical centers and private clinics are found in all states with 24-hour emergency service. There are also quite a number of international schools private colleges and universities situated in all major cities for higher learning at a reasonable cost.

MM2H benefits

Applicants will receive a 10 years multiple entry visa to stay in Malaysia. It is continuously renewable unless you volute the rules and laws of the country.

Applicants are free to stay and travel in and out of the country as often as they wish. There are no restrictions on the period of stay.

Applicants’ spouse and children (who are under 21 years of age) are allowed to join automatically.

Applicants will enjoy high standards of living for a relatively low cost.

Applicants can choose to either import one used car, which belongs to him personally from his country of residence subject to approved permit (AP), which is exempted from payment of import duty, excise duty and sales tax (within 6 months from the endorsement date of MM2H pass) OR purchase one locally - assembled car in Malaysia which is exempted from payment of excise duty and sales tax (within 1 year period from the endorsement date of MM2H pass).

Applicants are given up to 85% margin on housing loans as opposed to 60% for non-MM2H foreigners.

Applicants do not need FIC (foreign investment committee) approval for property purchase and their properties are 100% registered under their names.

All income received from overseas will not be taxed by the Malaysian government.

Who can apply?

TERMS & CONDITIONS

1. Aged Below 50 years old

   Opened a fix deposit account of RM300,000
   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 can withdraw up to RM150,000 for the purchase of house, education for children in Malaysia and medical purposes. Applicants must maintain a minimum balance of RM150,000 from second year onwards and throughout the stay in Malaysia under this program.

2. Aged 50 years and above

Opened a fixed deposit account of RM150,000 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.
Applicants who fulfills the fixed deposit criteria can withdraw up to RM50,000 for the purchase of house, education for children in Malaysia and medical Purposes. Applicants must maintain a minimum balance of RM100,000 from second year onwards and throughout the stay in Malaysia under this program.

Note: Successful applicants need to open their fixed deposit accounts in Ringgit Malaysia (RM).

LATEST ANNOUNCEMENT FROM THE MINISTRY OF TOURISM MALAYSIA

1. Qualified MM2H participants aged 50 and above with specialized skills and expertise that are required in the critical sectors of the economy, are allowed to work not more than 20 hours per week.
The approval to work part-time is subject to the following conditions:

2. The application is approved by the MM2H Special Committee,
   The work contract needs to state that the MM2H participant is working part time and to attach the work schedule, total number of hours of week does not exceed 20 hours.
   MM2H participants are allowed to invest and actively participate in business, subject to existing Government policies, regulations and guidelines which are in force for the relevant sectors.

3. Foreign spouses of Malaysian nationals are eligible to apply for MM2H, subject to the terms and conditions of the MM2H program. Alternatively, they have the option to apply for the Spouse Program.

4. The ten-year Social Visit Pass is extended to all Silver Hair and MM2H participants who were previously approved under the five-year Social Visit Pass, subject to the validity of their passports.

5. Employment Pass holders who wish to participate in the MM2H program are exempted from the “cooling off period” on the condition that their application to participate in MM2H program is submitted 3 months before the expiry of the Employment Pass.

6. ID-Cards will be issued to MM2H participants with permanent address in Malaysia. This is validated by submitting the Sales and Purchase Agreement or Tenancy Agreement in Malaysia.

7. Age limit of unmarried dependent children is raised from 18 years to 21 years. A declaration stating that the child is unmarried and all expenses during the stay in Malaysia will be borne by the principal participant of the MM2H program is required.

8. ‘Dependants’ include unmarried children aged 21 years and below, step-children, disabled children and parents.

Basic documents needed to apply

1. Letter of application (cover letter)
2. Certified copy (S) of passport. And copy of all pages.
3. Certified copy of marriage certificate.
4. Certified copy (s) of birth certificate.
5. Certificate of good conduct. (Police clearance certificate)
6. Resume of main applicant.
7. (6) pieces of color photograph.(Passport size)
8. Original last 3 months bank statement.
9. Month certified copies of pension slip/salary slip/income statement etc. which can proof offshore income of RM10,000 (USD2,800).
10. MM2H application forms

Note: Download application forms for MM2H here.

How long does it take?

Basically, after submission of your documents, it will take around 4-8 weeks for processing; it takes a long time, as they will verify all documents we sent. If all goes well, we will receive an approval letter from the government, we will notify you and you will need to come to Malaysia within 6 months of approval to get your passport steamed.

To get your passport stamped, you will need

1. The approval letter
2. Insurance coverage from Malaysia insurance agency
3. Medical checkup.
4. Fixed deposit certificate (RM150,000/RM300,000)
5. Attending at Immigration counter to get your passport stamped with MM2H sticker.

For further information about procedure and fees, kindly contact our experts.