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Malaysia My Second Home Programme, MM2H
The
Malaysian government has designed ‘Malaysia My Second Home Program’ as an attractive settlement plan and welcomes people from countries all over
the world, who meet certain criteria to live in Malaysia.
They
would be given a 10-year Social Visit Pass with a Multiple Entry Visa that
is guaranteed renewable unless they have violated the Malaysian rules & regulations.
This program is opened to
foreigners of 18 years old and above together with their dependants from
countries politically recognized by Malaysia.
Second home holder are not
allowed to work / be employed in the country, but can be investors.
The
main criteria for application is as
follows:
Financial requirements
New Regulations (with
effect from 1st April 2006):
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Age below 50 years old |
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Place a fixed deposit account of RM300,000 (USD94,000) with any
bank in Malaysia.
AND
Show proof of monthly off-shore income of RM10,000 (USD3,150)
(e.g. payment slip, bank statement, income tax statement, etc) |
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After a period of one year, the participant can withdraw up to
RM240,000 (USD75,000) for purchase of houses, medical expenses or
children’s education. |
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Age 50 years old and
above |
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Can either choose to:
Place a fixed deposit account of RM150,000 (USD47,000) with any
bank in Malaysia
OR
Show proof of monthly off-shore income of RM10,000 (USD3,150)
(Only for Government Pension Fund) |
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After a period of one year, the participant can withdraw up to
RM90,000 (USD29,000) for purchase of houses, medical expenses or
children’s education. |
Applicant
must maintain a minimum balance
of RM60,000 (USD19,000) in the fixed deposit account from the second year
onwards and throughout his stay in Malaysia under this program.
**US Dollar is only an indication
figure.
It is not a pre requisite to own
properties to qualify for this program, but you are encouraged to invest as it
is much cheaper as compare to other countries in the region.
MM2H FAQ
Q1. How long will it take for my
application to be approved?
In about 2 to 3 months, provided all the documents submitted are complete, in order and fulfilled the authority’s requirements.
Q2. Why were some of the
applications rejected?
Mainly are due to failure in meeting the financial requirements i.e. fixed deposit and proof
of foreign income are the minimum requirements.
In order to improve the
chances of approval, a strong financial background is needed, by providing bank deposit
statements, asset statements and proof of any additional incomes from rental,
pension fund etc. All these statements will provide an additional advantage.
Q3. When must I fulfill the
condition of approval and obtain the pass after the approval?
It has to be completed within 6 months from the date of approval.
Q4. Can the Social Visa Pass
and Multiple Entry Visa be renewed after 10 years?
Yes. It is guaranteed renewable, provided the person does not commit any
offense, crime or any other activities that are deemed against the Malaysian
laws set by the authority. You need to apply for
renewal three (3) months before the expiry period either by yourself or seek
the assistance of any Malaysian Official MM2H Sponsor/Agent.
Q5. If the applicant has been
staying in Malaysia for a long time, can he/she still to eligible to apply for
this program ?
Yes, provided the applicant fulfills all the requirements and applicant is
in possession of a valid Social Visa at the point of application. Registration can
be made in Malaysia.
Q6. How can I apply for this
program and how to get a sponsor/agent to assist in this application?
At Richmond Consultants (MM2H) Sdn Bhd, we are the official sponsor/agent appointed by the
Malaysian Government, to assist any foreigner that could like to register and
apply for this program.
Q7. Can I withdraw my fixed
deposit after successfully joining this program?
After 1 year, you must maintain a minimum balance of
RM60,000 in the fixed deposit account throughout your stay in Malaysia under this program.
Q8. Can foreign students
continue their studies easily in Malaysia?
Yes. There are lots of international and foreign schools, institutions and
universities located in in Malaysia, with international standards.
Q9. Can I receive medical
treatment?
24 hours Clinics, medical centres, hospitals are found in all states and
towns. The fees
are very competitive.
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Immigration Department of Malaysia |
Ministry of Tourism Malaysia |
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