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MALAYSIA MY SECOND HOME
(MM2H & S-MM2H)
The Malaysia My Second Home (MM2H) programme is an initiative by Malaysian Government to attract and allow foreigners who fulfill certain criterias, to stay in Malaysia on a 5 +5 years renewable Social Visit Pass with multiple entry.
Participants may bring along their spouse, unmarried children below 21 years old and parents or parents in law.
Dependents below the age of 18 are permitted to study in Malaysia. Participants aged 50 years and above are permitted to work 20 hours per week in certain sectors.
MM2H
ELIGIBILITY & REQUIREMENTS
It is open to citizens of countries recognized by Malaysia regardless of race, religion, gender. Minimum eligible age is 35 years old.
Prove liquid assets of MYR 1,500,000 + monthly income of MYR 40,000
Submission of a Letter of Good Conduct
Processing time: Approximately 4 – 5 months
TERMS & CONDITIONS AFTER APPROVAL
Successful applicants will be issued a Conditional Approval Letter where they are required to enter Malaysia and comply with the following requirements within a 6-month period:
Open a Fixed Deposit Account in Malaysia
MYR 1,000,000 (MYR 500,000 can be withdrawn after 1 year with T&C)
Additional dependent of age 35-49 is subject to Additional MYR 50,000 fixed deposit per person
Subscribe to a local medical Insurance for each applicant below 60 years old
Submission of a Medical Report from a local clinic
BENEFITS
5 + 5 years Mutiple Entry Visa
Applicants are allowed to purchase residential houses at lower threshold price from MYR500,000
Applicants are allowed to apply 1 maid per household
Unmarried children can be added as dependent until 31 years old
Tax Exemption is given to remittance of offshore pension fund or funds transferred from foreign countries into Malaysia.
Applicants can own their business as Directors in Malaysia without the requirement of any local Malaysians in the company
Applicants over 50 years old are eligible to work part time
Tax exemption on import of personal/household items
Applicants are eligible to apply for Malaysia Tax Resident status
Applicant is entitled for 1 Duty Free Car (CKD)
S-MM2H
ELIGIBILITY & REQUIREMENTS
Applicants are required to show proof of financial capability either, one of the below :
Opening a Fixed Deposit account with any local bank in Sarawak
RM 150,000 (Individual)
RM 300,000 (Couple)
OR
Pension Funds (for applicants 50 years old and above)
RM 7,000 (Individual)
RM 10,000 (Couple)
OR
Monthly off-shore income funds (for applicants 30 years old and above)
RM 7,000 (Individual)
RM 10,000 (Couple)
TERMS & CONDITIONS AFTER APPROVAL
Applicants from age 30 to 49 need to meet one of the additional requirements below to be eligible for S-MM2H application :
Applicants are receiving long term medical treatment in Sarawak
Children below 18 years old are pursuing education in Sarawak
Purchase of Sarawak real estate property of not less than RM 600,000