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What Is The Malaysia My Second Home Program
The Malaysia My Second Home program, also called the MM2H programme grants a 5-year renewable multiple-entry visa to successful investors and their qualifying family members.
The Benefits
Residency
- 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.
- 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.
Travel and Quality of Life
- 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.
Requirements and Taxation
- Offshore income is non-taxable. Malaysia also has Double Taxation agreements with many countries. No Inheritance Tax.
- 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.
MM2H program requirements
- 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.
Malaysia Residency Program Investment Options
The Fixed Deposit Option
- 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.
The Process
Due Diligence and Application
- 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.
* 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.
Approval and Investment
Submit remaining documents including fixed deposit certificate, medical insurance policy* & medical report*.
Residency
The applicant obtains the Malaysia MM2H visa.
Contact an office nearest to you
With 30 years of immigration experience, each of Harvey Law Group’s lawyers carefully studies each client’s needs, resources and determines the immigration solution that best aligns with our client’s vision and values.
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