Malaysia My Second Home Program (MM2H)

Home Malaysia My Second Home Program (MM2H)

Malaysia My Second Home Program (MM2H)

Malaysia My Second Home Program (MM2H) is promoted by Malaysia’s Government to allow foreigners/retiree who fulfill the requirements to stay in Malaysia as their Second Home. The MM2H visa will be granted for a period of ten (10) years and is renewable and there are no “minimum days to stay in Malaysia” requirement.

MM2H visa holders can stay anywhere in Malaysia except Sabah and Sarawak where they need to convert the visa to the Sabah/ Sarawak version.

Eligibility for MM2H Program

Category Aged below 50 years old Aged 50 & above
1.Cash in bank (home country) Equivalent to RM500,000,00 * Equivalent to RM350,000,00 *
2.Monthly Offshore Income Equivalent to RM10,000,00 Equivalent to RM10,000,00
3.Upon Approval a) Open Fixed Deposit account RM300,000.00 at Panel Bank in Malaysia

b) After 1 year, you can withdraw up to RM150,000.00 for housing, medical and education purpose,

b) 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.,However, exemptions may be given for participants who face difficulty in obtaining a medical insurance due to their age or medical condition.,

c) From 2nd year onwards, the FD account should maintain RM150,000.00 throughout the program,

Approved participant who has purchased and own property which was bought at RM1 million and above in Malaysia may state his/her intention in letter of application during submission to lower down basic fixed deposit requirement of RM300,000 to RM150,000 on condition that the property has been fully paid and ownership documents such as grant and land title have already been issued. This amount may not be withdrawn until the participant decides to terminate his participation in MM2H program.

a) Open Fixed Deposit account RM150,000.00 at Panel Bank in Malaysia

b) After 1 year, you can withdraw up to RM50,000.00 for housing, medical and education purpose,

b) 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.,However, exemptions may be given for participants who face difficulty in obtaining a medical insurance due to their age or medical condition.,

c) From 2nd year onwards, the FD account should maintain RM100,000.00 throughout the program,

Approved participant who has purchased and own property which was bought at RM1 million and above in Malaysia may state his/her intention in letter of application during submission to lower down basic fixed deposit requirement of RM150,000 to RM 100,000 on condition that the property has been fully paid and ownership documents such as grant and land title have already been issued. This amount may not be withdrawn until the participant decides to terminate his participation in MM2H program.

*** Approved participant who has purchased and own property which was bought at RM1 million and above in Malaysia may state his/her intention in letter of application during submission to lower down basic fixed deposit requirement.

Security Bond

APPLICATION THROUGH AGENT – Licensed companies are required to provide the personal bond for their clients who have been approved under the MM2H Program.

Information Required

– passport whole book copy (all applicants)
– marriage certificate
– birth certificate (children below aged 21 yrs old)
– letter of good conduct
– account history statement (6 months)
– income statement (3months)
– 4 pcs photo (passport size photo)
– resume (main applicant)

Professional services include:

– Professional advises on the application procedures and required supporting documents
– Assist in the preparation of documents of the application, documents translation and application submission
– We will sponsor MM2H applicants in personal bond
– Liase with the relevant authorities for application approval.
– Assist in the entire endorsement process upon the approval being granted by the authorities such as insurance, medical examination, account opening etc.

Application Process

01

AGENT ADVISORY

– Takes 7 days

02

Documents preparation , Application submission

– Takes 3 months

03

Application approved

– Visa endorsement within 6 months

04

FD Placement, Medical and Insurance Procedures

– Takes 3 days

05

MM2H Visa Endorsement

– Takes 1 day

Why MM2H Program?

Eligibility to purchase house

MM2H holder can purchase any unit of residential houses at a minimum price of RM 1,000,000 depending on the location of the property.

Eligibility to purchase vehicle

MM2H holder is allowed to bring in his/her own personal car from home country OR to purchase a locally-assembled car with car duty exemption.

Maid / Helper

MM2H holder is allowed to apply for one maid subject to the prevailing guidelines of the Immigration Department of Malaysia.

Education (Approval to study)

MM2H holder is allowed to bring their children under 18 years old and not married under this programme.

Children above 18 years old should apply a Student Pass under the student’s name.

Lower Tax

Tax exemption is given to remittance of offshore pension fund into Malaysia.

Eligibility to setup business / work part time

MM2H holder can incorporate a Private Limited company in Malaysia as own investment.

If applicant is over 50 years old can apply to work part time in critical sector not more than 20 hours per week.

FAQs

Do I need to purchase a house in Malaysia before I can apply for MM2H program?

Coming soon.

Can I withdraw my Fixed Deposit to invest in my business after 1 year?

Coming soon.

How I can enjoy the benefit of car duty exemption?

Coming soon.

Can I open my Fixed Deposit account in a Malaysia bank in my home country?

Coming soon.