Written by Syazrinie Jalil and Tan Chun Han
What is Malaysia My Second Home
Malaysia My Second Home (‘MM2H’) is a distinguished initiative endorsed by the Ministry of Tourism Malaysia, aimed at promoting Malaysia as an appealing destination for potential residents from around the globe. This program offers non-Malaysian expatriates and retirees the opportunity to reside in Malaysia, providing them with a social visit pass and a multiple-entry visa issued by the Malaysian Immigration Department. These visas are valid for five years and can be renewed thereafter, ensuring long-term residency options.
Since its inception, the program has undergone numerous improvements to enhance its accessibility and appeal. One of the key changes is the introduction of a direct application process, allowing interested individuals to apply without the need for an appointed agent. However, for those who prefer assistance, the option to apply through agents remains available. This flexibility ensures that the program caters to a wide range of preferences and needs, making it easier for potential residents to embark on their journey to make Malaysia their second home.
Benefits offered with a MM2H visa permit
Property Purchase
Participation in this program entitles you to the acquisition of a residential property. The state in which a house is located determines the minimum value of that property. However, it is strictly forbidden for participants to rent out the properties.
Tax exemptions
Participants only pay income tax on revenue derived from investments in local businesses and the local market; international income is not subject to filing a tax return in Malaysia.
Education
Participants with dependents below 21 years old are entitled to pursue studies in Malaysia without the need of obtaining a Student Visa.
Business and investments
Without the need for a Malaysian to be involved in the business, participants can register for a private limited company in Malaysia. They are also eligible to participate in local businesses, share markets, and unit trusts.
Part-time work
This program prohibits participants from working as an employee. However, participants who are over 50 are granted an exception to work part-time.
Domestic Helper
Participants may request to bring a domestic helper with them. That being said, this is contingent upon the current Immigration Department policies. The age requirement for the domestic helper is 21 years old or older, but not 45.
Requirement and Conditions of MM2H
- Aged between 35 – 49 years old; or 50 years old and above;
- Stay in Malaysia for at least 90days (cumulative) a year;
- No criminal record;
- Minimum liquid assets of RM1,500,00;
- Minimum monthly off-shore income of RM40,000;
- Additional RM50,000 per dependent’s fixed deposit; and
- Annual fee payment of RM500 per year and annual process fee of RM5,000 for participant and RM2,500 for each dependant.
Application Procedures
- Submit an application by filling out the form available in Immigration Department of Malaysia, Ministry of Home Affairs along with supporting documents, among others;
- Intention letter of Application;
- MM2H Application form;
- Original & copy of Participant and Dependent passport;
- Copy of Conditional Approval Letter by Immigration unit;
- Original & copy of medical insurance for participant and dependent below 60 years old;
- Original Medical Report (Form MFII);
- Duly stamped Personal Bond Letter;
- Certified True Copy of Marriage Certificate for participant and spouse;
- Birth Certificate;
- Certified True Copy of latest 3 months’ of Pay Slip, Pension Slip or Income Statement; and
- Letter of Good Conduct by all participant and dependent.
- Approval letter issued by Immigration Department.
- Submission of Supplementary Documents to Immigration Department:
Upon arrival, these supplementary documents should be submitted to the Immigration Department-
- Fixed Deposit Certificate – participants are required to open a fixed deposit account with any bank in Malaysia with a minimum amount of RM1,000,000.
- Medical Certificate – Possess a valid health insurance policy of Malaysia.
- Medical Report – Medical check up done by local Doctor.
- Endorsement of Malaysia My Second Home visa stamp on passport.
Withdrawal of the fixed deposit
From a second year onwards (effective from the date of MM2H Social Visit endorsement in the passport) participants may make withdrawals for approved expenses relating to house purchases, education for children, medical expenses and other expenses which are deemed justifiable and have been approved by the Ministry of Tourism, however this withdrawal is subject to a condition that has been set up to a maximum of 50% only.
Conclusion
In summary, the MM2H program offers a unique opportunity for non-Malaysian expatriates and retirees to experience the vibrant culture and welcoming environment of Malaysia. With its flexible application process, long-term residency options, and the ability to purchase residential properties, the program is designed to cater to a diverse range of preferences and needs. By continuously improving and adapting to the needs of its participants, MM2H remains a highly attractive option for those looking to make Malaysia their second home.
Published on 6 September 2024