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ENJOY LONG TERMS STAY WITH
FAMILY UNDER THE
"MALAYSIA MY SECOND HOME" (MM2H) PROGRAM
Malaysia My Second Home
program is open to all foreign citizens wishing to
retire or reside in Malaysia on a long term basis.
It is fully endorsed by the Government of Malaysia
and your immediate family (spouse and children) can
also participate in the program. Here are some of
the key benefits of the program. You will get a
10-year Visit Pass and Multiple-Entry Visa
(renewable every ten years) which will eventually
give you a lifetime easy access to the country
(perpetual visa). You can import your car or
purchase a new car, tax-free and enjoy other tax
incentives. You can invest and own businesses in
Malaysia. This is like owning a second passport, or
a second citizenship in Malaysia. The best thing is
that you still retain your citizenship and all its
privileges in your own country.
The Great Qualities of
Malaysia for a Peaceful Life
Malaysia also has
world-class highways that connect all the States in
Peninsula Malaysia, modern urban transportation
systems that make traveling to the city a breeze,
and has among the best medical facilities in Asia.
Here are a few other reasons why Malaysia is the
best place to retire.
Above 50 years of age
- Fixed deposit of RM150,000 OR monthly off-shore pension of RM10,000 (government pension is 100% accepted
but the committee will evaluate if it is from a private source. If the
pension organization is reputable, then it might be accepted. If not, the
approval will be changed from pension to fixed deposit)
- Government pension - husband & wife's pensions can
be combined.
- Fixed deposit of RM150,000 is only required only after
the approval is obtained
- Fixed deposit - you can withdraw RM50,000 after one (1)
year
- Must maintain a minimum balance of RM100,000 from
second year onwards and throughout stay in Malaysia under this program.
If the applicant has
purchased properties worth more than RM1million, they may be exempted from
putting in the full amount into the fixed deposit. However, they have to pay up
fully for their property.
YOUR SOUND FINANCIAL
STRENGTH EVIDENCE:
All applicants must show that they have at least RM500,000 (RM350,000 for those
above the age of 50) equivalent in cash, deposits, bonds, securities,
properties and other assets.
YOUR MEDICAL INSURANCE
Medical insurance is required for all applicants (including spouse and
children). Prices starts from RM 100 upwards and it depends on the age of the
applicant.
YOUR MEDICAL REPORT
Medical checkup is required for all participants (including spouse and
children). It will be done only when you come in for passport endorsement, not
during application.
- The money can only be withdrawn to purchase residential properties, education
for children in Malaysia and for medical purposes in Malaysia only.
- For residential property purchase, the sales and
purchase agreement has to be signed AFTER the 1 year period. Otherwise, it
is not valid. and you cannot withdraw to purchase the property.
- The deposit can be made in banks in Malaysia only.
- Deposit cannot be placed in a Malaysian bank overseas.
- All deposits has to be made in Malaysian Ringgit only
- For the pension method, there is no requirement for you
to transfer the money over to Malaysia. A letter from the pension board
and other financial documents (fixed deposits, bank statements) is
required.
- Visa holders are NOT allowed to work or seek employment
in Malaysia.
- Property purchase is NOT a requirement. You can rent a
place to stay if you want to.
- There is NO
"minimum-days-to-stay-in-Malaysia" requirement for this visa.
- To do business under MM2H visa, you must follow the
guidelines from the Ministry of International Trade.
- The main applicant may be the husband or wife. Whoever
has the higher financial strength should be the main applicant.
- Part time work (20 hours per week) is allowed but it
must be approved by the MM2H committee.
- 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.
- Unmarried children under the age of 21 are allowed to
join this program as dependents of the parents.
- Parents of applicants (including parents-in-law) are
allowed to join applicant as dependent but they will get a yearly visa.
The parents must be more than 60 years old.
- You are entitled to purchase one car tax-free OR you
are allowed to import your own car tax-free
- No taxes on the income/pension.
- You are allowed to stay in Malaysia (without leaving
the country) until the visa expires and you don't need to leave the
country during renewal.
- You can come and go as many times as you may wish
having a 10 Years Multiple Visa as a Social Pass.
FOR LATEST RATES OF EXCHANGE FOR VARIOUS
COUNTRIES, CLICK TO FIND OUT AT:
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