Welcome to Fascinating Malaysia ... Malaysia My Second Home ......
Plantation in Cameron

Putrajaya

 
Terms & Conditions
     
  Financial Requirement
    (updated:15 May 2012)
    Successful applicants (after 1 April, 2006) are required to comply with the following financial criteria upon receipt of the 'conditional approval':
Effective 1 July 2008, new applicants who have purchased and owned residential property which were bought at RM1 million and above in Malaysia are eligible to apply for exemption from placing the full FD amount required of MM2H participants. They only have to comply with the basic financial requirement of FD or RM100,000/RM150,000. This amount may not be withdrawn until the participants decide to terminate their participation in MM2H programme
     
  i) Aged Below 50 years old
     
    Applicants aged below 50 years are required to show proof of liquid assets worth a minimum of RM800,000 and offshore income of RM10,000 per month. For certified copy(s) of Current Account submitted as financial proof, applicants must provide the latest 3 months’ statement with each month’s credit balance of RM 800,000.
     
  Upon approval, open a fixed deposit account of RM300,000.00.
  After a period of one year, the participant can withdraw up to
    RM150,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
  Must maintain a minimum balance of RM150,000 from second year
    onwards and throughout stay in Malaysia under this programme.
     
    Approved participants who have purchased and own property which were bought at RM1 million and above in Malaysia may comply with the basic fixed deposit requirement of RM 150,000 on condition that the property has been fully paid and ownership documents such as grant and land title have already been issued. This amount may not be withdrawn until the participant decides to terminate his participation in MM2H programme.
     
  ii)  Aged 50 years and above
     
  Applicants aged 50 and above may comply with the financial proof of RM350,000 in liquid assets and off shore income of RM10,000 per month. For certified copy(s) of Current Account submitted as financial proof, applicants must provide the latest 3 months’ statement with each month’s credit balance of RM 350,000. For those who have retired, they are required to show proof of receiving pension from government approved funds of RM 10,000 per month.
     
  Upon approved, can either choose to:
    - Opened a fixed deposit account of  RM150,000.00 OR
    - show proof of government approved pension funds of RM10,000
  After a period of one year, participant who fulfills the fixed deposit
    criteria can withdraw up to RM50,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
  Participant must maintain a minimum balance of RM100,000.00
    from second year onwards and throughout stay in Malaysia under this programme.
     
    Approved participants who have purchased and owned property which were bought at RM1 million and above in Malaysia may comply with the basic fixed deposit requirement of RM 100,000, on condition that the property has been fully paid and ownership documents such as grant and land title have already been issued.This amount may not be withdrawn until the participant decides to terminate his participation in MM2H programme.
     
    Note : Successful applicants need to open their fixed deposits in Ringgit Malaysia (RM).
     
    EXISTING PARTICIPANTS (JOINED BEFORE 1 APRIL, 2006)
     
   

Existing participants will not be subjected to the new financial requirements when they next renewed their stay in Malaysia under this programme. However, the approvals of the renewal are subjected to the fulfillment of the condition required by the Government of Malaysia.

Participants who complied with the earlier fixed deposit criteria are allowed to withdraw their fixed deposit as follows after a one year stay in Malaysia:

     
  i) Single Participant with fixed deposit of RM100,000.00
     
  Can withdraw up to RM40,000.00 for the purchase of house education for children in Malaysia and medical purposes. Must maintain a minimum balance of RM60,000.00 from second year onwards and throughout stay in Malaysia under this programme.
     
  ii) Participant with spouse with fixed deposit of RM150,000.00
     
  Can withdraw up to RM90,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.Must maintain a minimum balance of RM60,000.00 from second year onwards and throughout stay in Malaysia under this programme.
     
    Note: Participants under this programme (both new and existing) may withdraw their entire fixed deposit anytime should they decide to terminate their stay in Malaysia under this programme. However, they must obtain prior approval from the Ministry of Tourism.
     
  Medical Report
     
    Applicants are required to submit a medical report from any public or private hospital in Malaysia.
     
     
    Medical Insurance
     
   

Approved participants and dependents must possess a valid medical insurance policy from any insurance company that is applicable in Malaysia.

     
     
    Incentives
     
   

Participants of Malaysia My Second Home Programme are provided with various incentive s to make their stay even more comfortable and enjoyable in Malaysia. The incentives provided are as follows:

House Purchase

Each participant is allowed to purchase any residential properties including residential land at a minimum prices of RM500,000 and above each, depending on the location of the property.

In some states, the minimum amount are set at RM750,000 and above each.

     
   

Car Purchase

Each participant is allowed to bring in his/her own car (used) OR to purchase a locally-assembled car without the need to pay import duty, excise duty and sales tax.

However,participants must apply for prior approval within the time period given to the Ministry Of Finance and Ministry of International Trade and Industry before bringing in car from country residence or buying the locally-assembled car in Malaysia. Interested applicant kindly contact: gilvin@hotmail.com

     
     
  Education
     
  Applicants are allowed to bring their children who under 18 years old and not married as their dependants under this programme.

  Dependants who intend to continue their schooling in Malaysia are required to apply for a Student pass.

Please refer to the Ministry of Higher Education Malaysia's website : www.mohe.gov.my for a complete list of all private institutions of learning in this country

     
     
  Taxes
     
   

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 for tax exemption.

Please refer to Inland Revenue Board Malaysia’s website: www.hasil.org.my for the tax system

     
     
    Malaysia Immigration Fees
     
   

A payment of RM90.00 per year is charged for the issuance of a Social Visit Pass under the “ Malaysia My Second Home Programme”. Applicants from certain countries will be required to pay for the issurance of Multiple Entry Visa ranging from RM15 to RM100 peryear.

Visa fee is chargeable according to the existing rate applicable to each country. Please refer to Immigration Department of Malaysia (www.imi.gov.my) for a listing of the visa fee chargeable according to country of origin.

     
     
  Application Procedures
  New Applications
   

All applicants who wish to apply to stay in Malaysia under Malaysia My Second Home Programme must submit the following documents:

  1) Letter of Application
  2) Two (2) copies of Form IM.12 (Social Visit Pass Form)
  3) Two (2) passport-sized photographs
  4) A certified copy of Passport / travel document (all pages)
  5) A certified copy of a Marriage Certificate (if accompanied by spouse)
  6) A certified copy of birth certificate (if accompanied by Children)
  7) A certified copy of latest bank statement /other related finacial
    document to indicate the financial capability to support stay in Malaysia
  8) A certified copy of Monthly Income Proof
     
  Fixed Deposit
     
   

The following documents are required for the opening of FD Account:

 
  Identity Card/Passport (for Individual)
  Application Form for Opening of Fixed Deposit Account
  Specimen Signatures
  Conditional Approval from Immigration Department
  Customer's Declaration to confirm the following: To authorize the
   

Bank to confirm the existence of the FD when required by the relevant Government authorities. Any Other Relevant Registration Documents that may be deemed necessary

Maximum period on FD is One (1) year renewable subject to the extension of the Social Pass Visit issued by the Immigration Department upon expiry. Interest earned on the FD can be withdrawn by participant excluding principal amount before the one-year period.

Emergency withdrawal of FD is allowed subject to prior approval by Immigration Department without affecting stay in Malaysia under Malaysia My Second Home Programme. FD can be withdrawn anytime if the participant wishes to terminate his stay in Malaysia with notification to Ministry of Tourism. Ministry of Tourism will issue a letter confirming participant intent to terminate stay under this programme.

* Any interest earned on premature FD withdrawal is subject to the participating bank’ ù(s discretion.

     
     
  Restrictions
     
 

Under Malaysia My Second Home Programme, seeking of Employment is not allowed. However, Successful Applicants can invest in Business in Malaysia and be a Director of His/her company.

In addition, they should not participate in activities that can be considered as sensitive to the local people and a threat to the security of the country; for example in political activities, missionary activities and provocative or instigative activities.

     
  Incentives
     
    House Purchase
   

Each participant under this programme is allowed to purchase residential proeprties valued at more than RM500,000.00 each depending on the location.

Please note that the ceiling for houses in other States has been set at RM750,000.00 and above each.

   
    Car Purchase
   

A participant can choose to either import one car which belongs to him personally from his country of residence subject to approved permit (AP), which is exempted from payment of import duty, excise duty and sales tax (within 6 month from the endorsement date of MM2H pass) OR purchase one locally made car in Malaysia which is exempted from payment of excise duty and sales tax (within 1 year period from the endorsement date of MM2H pass).Interested applicant kindly contact: gilvin@hotmail.com

     
  Domestic Helpers
     
    Each applicant is allowed to apply for one maid subject to the prevailing guidelines of the Immigration Department of Malaysia.
     
     
  Approval
     
    Under normal circumstances, all applications that fulfil the criteria should be processed and approved within 60 working days after submission of the application.
     
     
  Extensions
     
    Extension - Change of Passport
   

This applies to those who did not receive the full duration of the 10-year Visa because of the short validity period of their passport at the time of approval and would like to receive the remaining period upon the issuance of a new passport.

The applicant must appear in person at the Immigration Department of Malaysia and is required to bring the following documents :

   
  1) Old and New Passport
  2) Photocopy of the New Passport
  3) IM.12 Form
  4) Payment of RM 90 per year for the Visa, payable to the Immigration
    Department of Malaysia
     
    * The above process applies for those that did not receive the full duration of the 10 years Visa because of short validity period of their passport at the time of approval and would like to receive the remaining period upon the issuance of a new passport.
     
    Extension - After 10 years period
   

The applicants must be present in person at the Immigration Department of Malaysia and is required to bring the following documents:

     
  1) Letter of intent to continue stay in Malaysia under this Programme
  2) Passport
  3) Photocopy of Passport
  4) IM.55 Form
  5) Payment of RM 90 per year for the Visa, payable to the Immigration
   

Department of Malaysia

     
     
  Termination
     
    The applicant should forward the following documents to the Malaysia My Second Home Centre:
     
  1) Letter of intent to terminate stay in Malaysia under this Programme
  2) Passport
  3) Photocopy of Passport

 


   
designed by : : gil design house : : 2003