Malaysia My Second Home

Applicants are expected to be financially capable of supporting themselves on this programme in Malaysia.

Upon application:

Applicants aged below 50 years are required to show proof of liquid assets worth a minimum of RM500,000 and offshore income of RM10,000 per month.
Applicants aged 50 and above may comply with the financial proof of RM350,000 in liquid assets and off shore income of RM10,000 per month. For those who have retired, they are required to show proof of receiving pension from government approved funds of RM 10,000 per month.
New applicants who have purchased properties worth at least RM 1 million qualify to place a lower fixed deposit amount upon approval.

Upon approval:

Successful applicants are required to comply with the following financial criteria upon receipt of the "conditional approval letter" from Immigration Department of Malaysia.

Aged Below 50 years old

Open a fixed deposit account of RM300,000.00.
After a period of one year, the participant can withdraw up to RM150,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
Must maintain a minimum balance of RM150,000.00 from second year onwards and throughout stay in Malaysia under this programme.

Approved participants who have purchased and owned property which were bought at RM1 million and above in Malaysia may comply with the basic fixed deposit requirement of RM 150,000. This amount may not be withdrawn until the participant decides to terminate his participation in MM2H programme.

Aged 50 years and above

Can either choose to:
- Open a fixed deposit account of RM150,000.00 ; OR
- Show proof of government approved pension funds of RM10,000
After a period of one year, participant who fulfills the fixed deposit criterion can withdraw up to RM50,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
Participant must maintain a minimum balance of RM100,000.00 from the second year onwards and throughout his/her stay in Malaysia under this programme.

Approved participants who have purchased and owned property which were bought at RM1 million and above in Malaysia may comply with the basic fixed deposit requirement of RM 100,000. This amount may not be withdrawn until the participant decides to terminate his participation in MM2H programme.

All applicants and their dependants are required to submit a medical report from any private hospital or registered clinic in Malaysia.

Approved participants and their dependants 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.

Participants of Malaysia My Second Home Programme are provided with various incentives to make their stay more comfortable and enjoyable in Malaysia. The incentives provided are as follows:

a. House Purchase
Participants are allowed to purchase residential properties priced at a minimum of RM 250,000 per unit, depending on the location of the property :

1. Minimum RM300,000 per unit for certain areas in the state of Sarawak (Kuching, Miri and Sibu)
2. Minimum RM250,000 per unit for the other states

b. Car Purchase/Import
Car Purchase
Each participant is allowed to bring in his/her own personal car OR to purchase a locally-assembled car without the need to pay import duty, excise duty and sales tax.

Car Import
Application to IMPORT a motorcar from the participant's country of citizenship/last domicile must be forwarded to the Ministry of Finance within a period of six months from the endorsement date of Malaysia My Second Home (MM2H) social visit pass. The condition for such importation is that the MM2H participant should be the owner of the motorcar prior to obtaining the MM2H visa, as evidenced in the motorcar registration document.

Locally-Assembled Car
An Application to PURCHASE a new motorcar made or assembled in Malaysia must be must be forwarded to the Ministry of Finance within a period of one year from the endorsement date of Malaysia My Second Home (MM2H) social visit pass.

Note:

Completed application forms with relevant documents which are submitted to Ministry of Finance will be processed within 10 working days.
Do not make an outright purchase of the motorcar before obtaining approval for tax/duty exemption from the Ministry of Finance. However, a booking for a motorcar may be made prior to obtaining approval from the Treasury.
Importation or purchase of motorcar must be for personal use only and not for commercial use.
'Personal Car' is referred to a car which was purchased by participant before joining the MM2H programme.
Participants are only allowed to sell their imported/locally purchased car after 2 years' stay on the programme.

c. Domestic Helper
Each applicant is allowed to apply for one maid subject to the prevailing guidelines of the Immigration Department of Malaysia.

d. Education
Applicants are allowed to bring their children who under 21 years old and not married as their dependants under this programme.

Children who intend to continue their schooling in Malaysia are required to apply for a Student Pass and should be insured throughout their stay under this programme.

e. Tax
Participants are bound by the policies, systems and regulations of taxes of this country and they do not have exemption qualifications as granted to Diplomatic Missions in Malaysia.

However, tax exemption is given to pension remitted into Malaysia. Participants are required to obtain the endorsement from the Authorities in their country of origin as to the total amount of yearly pension received. A copy of this letter has to be submitted in their application.