The Malaysia My Second Home program offers a wide range of MM2H incentives aimed at making your transition to Malaysia as comfortable as possible.
For more detailed and terms of each of the MM2H incentives we would advise that you visit the Government MM2H website here
These are the current MM2H incentives:
A 10 Year Multi-entry renewable visa
The Social Visit Pass is initially for a period of ten (10) years, and is renewable.
MM2H Incentives : Property 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. We 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).
Property purchase in Penang
From 01/07/2012 the minimum property purchase threshold for foreigners wishing to buy in Penang will be RM 1m for condos and RM 2m for landed property. MM2H visa holders will have a minimum purchase price of RM 500K, please note that MM2H visa holders will be limited to only owning two properties at any one time
MM2H Incentives : Vehicle Purchase and 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. Please be informed that starting from November 2010, the application for tax exemption for the locally purchased and imported car need to be done through the online MM2H vehicle application system at https://smpc.treasury.gov.my/sop/workdesk/login.jsp and manual application is not acceptable.
Bringing in a Domestic Helper under MM2H
Each applicant is allowed to apply for one maid subject to the prevailing guidelines of the Immigration Department of Malaysia.
MM2H Incentives : 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.
Education for children under MM2H
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.
Bringing Pets into the country under MM2H
Business and Investment