What is the Malaysia My Second Home program (MM2H)
Malaysia My Second Home Programme is promoted by the Government of Malaysia to allow foreigners who fulfill certain criteria, to stay in Malaysia for as long as possible on a multiple-entry social visit pass.
The Social Visit Pass is initially for a period of ten (10) years, and is renewable.
ELIGIBILITY
It is open to citizens of countries recognised by Malaysia, regardless of race, religion, gender or age. The programme allows applicants to bring with them their spouses, parents and children. Foreign spouses of Malaysians and expatriates who wish to retire in Malaysia after expiry of their Employment Passes are also eligible to apply to stay in Malaysia on this programme.
Applicants are allowed to bring their spouses, unmarried children below the age of 21 and parents above the age of 60 as dependants.
PROGRAM INCENTIVES
House Purchase
Please be informed that property purchase is not a pre-requisite for participating in MM2H programme.
Any foreigner may purchase any number of residential property in Malaysia, subject to the minimum rates established for foreigners by the different states. They start from RM500,000 per unit for most states, from 1st January 2010. Land is a state matter and it is important to check state laws before making any commitment, as the minimum purchase price is not standardised between states.
The Ministry of Tourism advise buying homes which are already issued with certificates of fitness but if you intend to purchase from developers, ensure that it is a reputable company.
Also ensure that your lawyer does a thorough check with the local land office that you have ownership rights to any property that you are purchasing. Profit made on the sale of property is 5% (Real Property Gains Tax).
Car Purchase/Import Each participant is allowed to bring in his/her own personal car OR to purchase a locally-assembled car without
the need to pay import duty, excise duty and sales tax.
Application to IMPORT a motorcar from the participant’s country of citizenship/last domicile must be forwarded to the Ministry of Finance within a period of six months from the endorsement date of Malaysia My Second Home (MM2H) social visit pass. The condition for such importation is that the MM2H participant should be the owner of the motorcar prior to obtaining the MM2H visa, as evidenced in the motorcar registration document.
Domestic Help
Each applicant is allowed to apply for one maid subject to the prevailing guidelines of the Immigration Department of Malaysia.
Education
Applicants are allowed to bring their children who under 21 years old and not married as their dependants under this programme.Children who intend to continue their schooling in Malaysia are required to apply for a Student Pass and should be insured throughout their stay under this programme.
Taxation
Participants are bound by the policies, systems and regulations of taxes of this country and they do not have exemption qualifications as granted to Diplomatic Missions in Malaysia. However, tax exemption is given to pension remitted into Malaysia. Participants are required to obtain the endorsement from the Authorities in their country of origin as to the total amount of yearly pension received. A copy of this letter has to be submitted in their application.
Setting up a business or working part-time
For further information on this please click the following link:http://www.mm2h.gov.my/incentive7.php#
The MM2H program welcomes applicants of all ages subject to meeting certain requirements
