The most important thing to know under the MM2H programme is that you are not allowed to have a paid work in Malaysia. Yet you are allowed to invest in Malaysia or to own businesses in Malaysia! Read below all the advantages of the Malaysia my second home programme.

MALAYSIA, My Second Home (MM2H) programme

(From Starbiz 2006)

MALAYSIA, My Second Home (MM2H) programme is promoted by the Government to allow people from all over the world who fulfil the stipulated criteria to stay in the country for as long as possible on a social visit pass with a multiple entry visa.

The social visit pass is initially for a period of 10 years (depending on the validity of the applicants’ passport) and is renewable.

Among the benefits under the programme are:

• Those who qualify for the programme are offered a 10-year social visit pass and multiple-entry visa.
• After 10 years, renewal is guaranteed if there is no violation of laws and rules of Malaysia.
• During these 10 years, the person is free to stay in Malaysia and travel as often as he likes. .
• He can import his car or purchase a new completely knocked down car tax-free.
• School-going children will be giving student pass to further their studies at international colleges and universities.
• Can bring in a maid from the country of origin to Malaysia after the approval.
• Can be an investor and own businesses in Malaysia.
• For housing loan, can obtain up to 80% as compared to the normal 60% for foreign applicants (subject to credibility).
• No need to obtain Foreign Investment Committee (FIC) approval for purchasing properties in Malaysia.
• For participants from countries that have double taxation agreement with Malaysia, their pension fund that are remitted to Malaysia will
  be exempted from tax if the person has stayed more than 184 days in the country.

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Chronology of changes to MM2H

A summary of the requirements of the Malaysia My Second Home program, listed in the Malaysia newspaper "New Straits Times" (1st July, 2006)

Malaysia my second home: Eligibility

• 1996: Citizens of all nations (except Israel and Yugoslavia) welcomed to enter and stay under a social visit pass.
• From 2002: Open to citizens of countries recognised by Malaysia regardless of race, religion, gender or age. Applicants allowed to bring along their spouse and children below 18 years old who are not married.

Malaysia my second home: Age

• 1996: 50 years old and above.
• From 2002: No age limit.

Malaysia my second home: Finance/ Income

• 1996: Individuals required to have savings of at least RM100,000.00, while individuals with spouses need at least RM150,000. Otherwise, an individual had to have a monthly income of RM7,000, while individuals with spouses needed at least RM10,000.
• From 2006: Foreigners below 50 years old require a Fixed Deposit account of RM300,000, while those aged 50 years and more can choose either to open a Fixed Deposit account with RM150,000 or show proof of monthly off-shore income of RM10,000 (such as through a pension scheme).

Malaysia my second home: Withdrawal of Deposit

• 1996: Not allowed throughout the Malaysia my second Home Programme.
• From 2006: Foreigners below 50 years old can withdraw up to RM240,000, while those aged 50 years or more can withdraw RM90,000 after one year for approved expenses relating to house purchase, educating their children in Malaysia and medical purposes. A minimum balance of RM60,000.00 from the second year must be maintained throughout the Malaysia my second Home Programme for both age categories.

Malaysia my second home: Validity

• 1996: Yearly renewal, (multiple entry visa to Malaysia)
• 2002: 5-year visa, (multiple entry visa to Malaysia)
• 2006: 10-year visa, (multiple entry visa to Malaysia)

Malaysia my second home: Insurance/Medical Report

• Since 1996: Foreigners need to have a valid Medical Health Insurance issued by a Malaysian insurance company and a Medical Report by any recognised local private medical hospital or Government hospital.

Malaysia my second home: Sponsor

• 1996: Either own, or sponsored by any Malaysian.
• 2006: Either own or through a licensed agent of the Ministry of Tourism.

Malaysia my second home: Duration of Approval

• 1996: 14 working days.
• 2002: 21 working days.
• 2006: 30 working days. 

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