WHAT IS THE Malaysia My Second Home Program?
The Malaysia My Second Home Program grants a 5-year renewable multiple-entry visa to successful investors and their qualifying family members.
Advantages of Malaysia
- Low cost of living, good lifestyle, strategic geographical location, business friendly, offshore tax haven of Labuan, minimal capital flow restrictions with a strong and stable economy.
- Offshore income is non-taxable. Malaysia also has Double Taxation agreements with many countries. No Inheritance Tax.
- Cosmopolitan and multi-cultural with English as official language of business & widely spoken along with Malay & various Chinese & Indian dialects.
- World-class and international hub for healthcare and education.
- Relaxed property ownership rules for foreigners with a minimum threshold of RM 600,000 per property applicable for the state of Kuala Lumpur. This varies from state to state.
- Must make a fixed deposit placement of RM 1,000,000.
- An additional RM 50,000 fixed deposit must be placed for each dependent if main applicant is aged 35-49 years.
- A maximum withdrawal of 50% of the principal of the fixed deposit is permitted after one year for the purposes of healthcare, education and property acquisitions in Malaysia.
Advantages of MM2H
- 5-year renewable long-term multiple-entry social visit pass granted to successful applicants.
- May include spouse, common-law partner, children (biological/step-child/legally adopted) below 21 years of age and 21-34 years of age (single and unmarried) in the application as dependents.
- Disabled children regardless of age as well as parents and parents-in-law of principle can also be included.
- Main applicant must have a minimum offshore monthly income of RM 40,000.
- Proof of liquid assets of at least RM 1,500,000.
- Main passholders and/or their respective spouses must reside in Malaysia for at least 90 days/year or 450 days/5 years cumulatively.
- Minimum age requirement for principal applicant is 35 years.
- Government processing fee of RM 5,000 (principal applicant) and an additional RM 2,500 per dependent.
- Government annual visa fee of RM 500.
- Other Visa and Security Bond/Bank Guarantee fees also apply whereby existing rates vary by nationality.
- Preparation and submission of application.
- Conditional approval letter issued.
- Arrive in Malaysia for:
- Fixed deposit account opening with any bank in Malaysia.
- Purchasing of/submission of medical insurance* that is applicable in Malaysia.
- Obtaining of medical report* from any private hospital or registered clinic in Malaysia.
- Submit remaining documents:
- Fixed deposit certificate, medical insurance policy* & medical report*.
- Obtain visa
* Main applicant and dependents are required to pass a medical check-up and possess medical insurance coverage that is applicable in Malaysia from any insurance company.
See also, Singapore Start-up visa