Malaysia My 2nd Home

 

 

MM2H

 

Malaysia My Second Home Program is an initiative promoted and supported by the Government of Malaysia to allow people from all over the world who fulfil certain criteria, to stay in Malaysia as long as possible on a social visit pass with a multiple entry visa. The MM2H visa permit is initially for a period of ten (10) years (depending on the validity of the applicants’ passport) and is renewable.

 

MM2H visa permit– Benefits & Incentives

Once your application is successful, there are various benefits & incentives provided as below:

MM2H Visa Permit

·                     10 year Social Visit Pass with Multiple Entry will be granted

·                     Stay as long as you wish & leave Malaysia anytime as you please

·                     Renewable after 10 years

House Purchase

Each participant is allowed to purchase residential houses valued above RM500,000 in Kuala Lumpur state. The minimum price for house purchases is generally set at RM500,000 or above for all states except Sabah & Sarawak at RM350,000 . But for the state of Penang, it can be RM250,000 and above for MM2H Visa holders only otherwise RM500,000 like other states.

Car Purchase

Each participant is allowed to bring in his/her own car (used) or purchase a new locally-assembled car without having to pay import duty, excise duty and sales tax. However, they must apply for prior approval within the 6month / 1years time period given by the Finance Ministry and Ministry of International Trade and Industry. Participants are only allowed to sell their imported/locally purchased car after 2 years' stay on theMM2H programme by paying the prevailing duties)

Domestic Helper

Each applicant can apply for one maid subject to the prevailing guidelines of the Immigration Department

Education

MM2H participants are allowed to bring their children who are below 21 years old and not married as their dependants.

Tax

Tax Exemption is given to remittance of offshore pension fund into Malaysia

Business & Investment

You can own and actively run your own business. Terms apply

Working Part Time

Over 50 year olds can work part time. Terms apply other

·                     Import personal / household items, tax exempted

·                     Invest in local companies, share market & unit trusts

·                     Interest gained from bank fixed deposit is tax exempted

·                     Your parents can also join you as dependents under a renewable long term (6 monthly) visa

 

MM2H Visa Permit – Requirements


Applicants are required to comply with the following financial criteria upon successful submission of their MM2H application.

AGE

LIQUID ASSETS

MONTHLY
INCOME

HOUSE OPTION 

FIXED DEPOSIT

50+

RM350,000

RM10,000

NIL

RM150,000

50-

RM500,000

RM10,000

NIL

RM300,000

50+

RM200,000

RM10,000 
(GOVT PENSION)

NIL

NIL

50-

RM200,000

RM10,000

RM1M+

RM150,000

50+

RM200,000

RM10,000

RM1M+

RM100,000

 

Successful applicants are required to comply with the following financial Fixed Deposit placements upon receipt of the “conditional approval letter” from Malaysia Immigration Department. 

Aged Below 50 years old 

·                     Open a fixed deposit account of RM300,000.

·                     After a period of one year, the participant can withdraw up to RM150,000 for

approved expenses relating to house purchase, education for children in Malaysia and medical purposes.

·                     Must maintain a minimum balance of RM150,000 from second year onwards and throughoutstay in Malaysia under this Malaysia My Second Home programme.

Aged 50 years and Above

·                     Will either:
- Open a fixed deposit account of RM150,000; OR
- Show proof of monthly off-shore income of RM10,000 pension without placing a fixed deposit.

·                     Only applicants who are drawing from Government Pensions can be considered for the" Monthly off - Shore Income " criteria.

·                     After a period of one year, participant who fulfills the fixed deposit criteria can withdraw up toRM50,000 for approved expenses relating to house purchase, education for childrenin Malaysia and medical purposes.

·                     Participant must maintain a minimum balance of RM100,000 from the second year onwards and throughout his/her stay in Malaysia under this MM2H programme. 

Note:

·                     Successful applicants need to open their fixed deposits in Ringgit Malaysia (RM) only.

·                     Participants need to obtain approval from Ministry of Tourism before proceeding to withdraw the fixed deposit.

·                     Participants under this program may withdraw their entire fixed deposit anytime should they decide to terminate their stay in Malaysia under this program. However, they must obtain prior approval from the Ministry of Tourism.

New applicants who have purchased and owned residential property which were bought at RM1 million and above in Malaysia are eligible to apply for exemption from placing the full FD amount required of MM2H participants. They only have to comply with the basic financial requirement of FD of RM100,00 for over 50 & RM150,000 for under 50 respectively. This amount may not be withdrawn until the participants decide to terminate their participation in MM2Hprogramme.

·                      New applicants have to observe the following conditions:

·                     The purchased residential property may be a fully completed unit or one under construction. For any property purchased, applicants aged below 50 and those aged 50 and above must produce copies of payments made to developers, amounting to a minimum of RM1,000,000.This amount does not include legal fees, transfer fees, commissions and any other related payments

·                     The property must cost a minimum of RM1 million OR

·                     Several properties totaling RM1 million and above can be accumulated for this exemption

·                     Properties must have been bought in the last 5 years only

 

Medical Report

All applicants and their dependents (spouse and children) are required to submit a medical report from any private hospital / registered clinic in Malaysia.

Medical Insurance

Approved participants and dependents (spouse and children) must possess a valid medical insurance policy, which is applicable in Malaysia.

Restrictions

Participants under Malaysia My Second Home Programme are not allowed to work/be employed while staying in Malaysia In addition, they should not participate in activities that can be considered as sensitive to the local people and a threat to the security of the country.

 

MM2H Visa Permit – How To Apply

Get ready to join “ Malaysia My Second Home Program ” 

 

Step 1. Submit an Online Enquiry or Email us 

Receive our official MM2H Information Pack including details of our Company & Services & Official Forms for application.

 

Step 2. Submit your documents for application

Documents required:

·                     Signed Instruction Letter & Terms & Conditions

·                     Letter of Application from main applicant

·                     Resume/ CV of main applicant

·                     1 Set of MM2H Application Forms - for each person

·                     4 Coloured Passport Size Photographs - foe each person

·                     Certified copy of Passport/ Travel Documents (All Pages) - for each person

·                     Certified copy of Marriage Certificate (for Applicants with spouse)

·                     Certified copy(s) of Birth Certificates (for Applicants with children) 

·                     Certified copy(s) of latest three months bank statement or other related financial document(s) to proof financial capability to support your stay in Malaysia

·                     At least 3 months certified copies of pay slip, pension slip or income statement

·                     Bank statements showing income as deposits into personal account

·                     Letter of Conduct from government agency - Police report from country of residence or citizenship (for main applicant only)

 

All copies must be certified TRUE COPIES OF ORIGINAL DOCUMENTS by EMBASSY / HIGH COMMISSION/ SOLICITOR/ JUSTICE OF PEACE/ NOTARY PUBLIC/ COMMISIONER FOR OATHS / GOVERNMENT OFFICIAL

The processing and approval process will take 6 - 8 weeks from the date of submission of the application (provided the documentation is complete) 

 

Step 3. Approval letter issued by Immigration Dept

 

Step 4. You arrive in Malaysia 

 

Step 5. We submit the supplementary documents to Immigration Department

·                     FD Certificate - Open a fixed deposit account with any bank of Malaysia 

·                     Medical Certificate - Possess a valid medical insurance in Malaysia

·                     Medical Report – Medical check up done with local Doctor

·                     We will assist and advise you in obtaining all these requirements

 

Step 6. Get endorsement of Malaysia My Second Home MM2H Visa Stamp in passport

·                     Issuing fee of Social Visit Pass is RM90 per year

·                     Duration of the Pass is based on your passport validity 

·                     We will assist and escort you to the Immigration Department

 

All Done !!!

 

 

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Add: G-3-13, Plaza Arkadia, Jalan Residen 3, Desa Park City, 52200 Kuala Lumpur
Tel: +603 2711 1138 Fax: +603 2712 1138 Email: info@sherwood.com.my