Wednesday, 18 July 2012

Malaysia My Second Home (MM2H)

Malaysia My Second Home (MM2H) programme is promoted by the Government of Malaysia to allow foreigners who fulfill certain criteria to stay in Malaysia as long as possible on a social visit basis with multiple entry Visa.
Malaysia My Second Home (MM2H) programme

The Social Visit pass is for a period of ten (10) years (depending on the validity of the applicants’ passport) and is renewable.
Why you should choose Malaysia My Second Home (MM2H)?
  • This Malaysia My Second Home (MM2H) program is fully  supported by the Government of Malaysia
  • You will have high standard of living with modern infrastructure and facilities
  • The cost of living is one of the lowest in Asia
  • This is the country that political stability
  • People live peacefully with multi racial and this is a cultural country
  • All recreation / entertainment / shopping / medical / education facilities well equipped
  • There are alot of quality residences in Malaysia

What are the Benefits / incentives of Malaysia My Second Home (MM2H)
  • You will have multiple entry visa of 10 years
  • May import 1 motorcar from country of citizenship or where last domiciled or purchase 1 new motorcar made or assembled locally free of excise duty & sales tax subject to terms & conditions.
  • May purchase up to 2 units of residential houses at a minimum prices above RM250,000 each except for certain areas in Sarawak (Kuching, Miri, Sibu) with the minimum price of RM300,000 each
  • May apply for one maid / domestic helper subject to the guidelines of immigration department of Malaysia
  • Allow to bring the children who under 18 years old and not married as their dependants.

Do you need to pay Tax?
  • Participants are bound by the taxation policies and regulations of this country. However, pension remitted into Malaysia is exempted.

What are the financial requirements?
a. Upon Application
If you are age below 50 years old
  • To show proof of liquid assets worth minimum of RM500,000/- and offshore income of RM10,000/- per month
If you are age 50 years old and above
  • To show proof of liquid assets worth minimum of RM350,000/- and offshore income of RM10,000/- per month. For those who have retired, show proof of receiving pension from government of RM10,000 per month
b. Upon Approval
If you are age below 50 years old
  • To open a fixed deposit account of RM300,000
  • To maintain a minimum balance of RM150,000 from 2nd year onwards under this programme
If you are Age 50 years old and above
  • To open a fixed deposit account of RM150,000 or monthly off-shore income of RM10,000
  •  To maintain a minimum balance of RM100,000 from 2nd year onwards under this programme

MM2H
What are the medical requirement?
  • All applicants and their dependents are required to submit medical report from any private hospital and clinic registered in Malaysia.
  • All applicants and their dependents must possess medical insurance policy which is applicable in Malaysia .

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