Malaysia My Second Home Programme
Malaysia has a diverse culture, vast natural resources, fertile investment opportunities, and a fast-growing economy. Moreover, it boasts of modern infrastructure and an affordable cost of living. For these reasons, it has become one of the top choices for foreigners to consider a second home in SouthEast Asia.
Malaysia My Second Home (MM2H) Programme is a government initiative to permit foreigners who satisfy a particular set of requirements to extend their stay in Malaysia for an indefinite period. Through this scheme, visitors with multiple-entry visas are initially granted 10-year access in the country but can be renewed afterward if necessary.
Regardless of religion, age, gender, or race, the MM2H visa permit is open to citizens of countries around the world recognized by Malaysia. In addition, spouses and unwed children below 21 years of age can be granted access as dependents by the applicant.
Once the application is approved, the applicants will be permitted to stay in the country for however long they prefer, so long as it’s within the validity of the MM2H permit. Besides Sarawak and Sabah, the visa holder is allowed to reside anywhere in the country. If the applicant wishes to stay in the restricted areas, they must convert their visas accordingly.
Criteria for MM2H ApplicantsFor interested applicants, you are eligible to apply for the MM2H Programme if and only if you meet the following financial criteria:
- Applicants below the age of 50 must have a liquid asset amounting to a minimum of RM 500,000 and a monthly income of at least RM 10,000.
- Applicants 50 years of age and above must have a liquid asset of at least RM 350,000 and an income of at least RM 10,000 every month.
Once approved, the applicant needs to accomplish the following steps:1. Get Medical Insurance
- Every applicant and their dependents need to submit a medical report acquired from a registered clinic or a private hospital in Malaysia. After which, they need to secure valid medical insurance for any insurance company in the country.
- For instances where the applicant is facing difficulty in obtaining medical insurance due to old age or health conditions, an exemption may be granted.
Applicants below the age of 50 must open a deposit account of RM 300,000. After one year, the applicant can withdraw up to RM 150,000 for essential expenses related to children’s education, medical reasons, and house purchases. Additionally, the applicant must maintain an outstanding balance of at least RM 150,000 for the second year of their stay onwards.
Applicants aged 50 years and above can either open a fixed account of RM 150,000 or show valid proof that they receive a monthly pension of RM 10,000 from the government. After a year, they may also withdraw money amounting to RM 50,000 for expenses related to education, housing, and medical purposes. Furthermore, the applicant must maintain an outstanding balance of at least RM 150,000 for the second year of their stay onwards.
Direct applicants must fulfil the security bond requirements amounting to a minimum of RM 200 to RM 2000, depending on the rate per person.
Foreigners applying through a third-party agent must be given a personal bond by the licensed company.
The bonds are used as a protective measure for government authorities to easily contact applicants found guilty of fraudulent activities in the country.
Requirements for MM2H ApplicantsBefore applying, the applicant must obtain the necessary requirements:
- Approved marital certificate (if applicable)
- Birth Certificate (for applicants below the age of 21)
- Good Conduct Letter
- Statement of Account from a bank in their country of origin (at least 6-months’ worth)
- Income Statement (at least 3-months’ worth)
- Four copies of passport photo
Benefits and Incentives of MM2H Programme
- Home Purchase – Approved applicants are allowed to purchase a house or property worth RM 1 million or more. The price of the land is dependent on the state in which they are bought.
- Domestic Helper – Through this program, applicants can apply for one domestic helper so long as the Immigration Department guidelines are followed.
- Education – MM2H applicants are allowed to bring their unmarried children below the age of 18 as dependents. As such, they can acquire education in the country of Malaysia within the duration of their stay.
- Tax Incentive – Tax exemption is granted to offshore pension as remittance to the Malaysian economy.
- Business and Investment – Applicants with an MM2H visa permit can set up their private limited company and actively participate in business activities. Likewise, visa holders can apply for employment in any organization in the country.
If the applicant is more than 50 years old, he/she can apply for part-time employment that does not subject them to more than 20 hours of work per week.
Our ServicesWe are dedicated to providing the optimum support so our clients can successfully apply for the MM2H Programme. Our services include:
- Consultation on the application procedure and required documents
- Coordination with authorities to approve applications
- Review of documents to ensure all requirements are accounted for and their translation is accurate
- Assistance throughout the endorsement process in order to obtain accounting documents and medical insurance, among other things
- Submission of MM2H Application