By popular request from KLCCcondominiums.com.my readers, we are compiling a collection of resources pertaining to the Malaysia My Second Home (MM2H) scheme. Note that policies may change from time to time, and as such, information presented below may not be updated on a real-time basis. If you have any questions however just post a comment at the end of this short guide. 🙂
What Is MM2H?
MM2H is the abbreviation for “Malaysia My Second Home“, and is a Malaysia government program which allows foreigners to reside in the country for long periods (up to ten years).
Who Is Eligible?
The MM2H program is open to citizens of countries recognized by Malaysia (this means that citizens of countries like Israel are not eligible). There are no discrimination along racial, gender and religious lines. Successful applicants are permitted to bring along their spouses and children (below 21 years of age and unmarried).
What Are The Eligibility Criteria?
Here’s a list (which may not be exhaustive):-
- Health requirements:-
- Medical reports from a Malaysian hospital
- Possession of a valid insurance policy (may be waived for applicants above 59 years of age)
- Financial requirements:-
- If below 50 years of age: fixed deposit account with at least RM300,000 at any bank with a Malaysian branch.
- If above 50 years of age: fixed deposit account with at least RM150,000 at any bank with a Malaysian branch, OR proof of offshore pension of at least RM10,000 per month.
Who Manages The MM2H Program?
Approval of applications and the promotion of the program is managed by the Tourism Ministry. The issuance of visas are under the purview of the Immigration Department (Jabatan Imigresen Malaysia). There are also agents with license to handle applications. They also provide other services such as helping successful applicants in their relocation to Malaysia.
What Are The Benefits Of MM2H?
Some good stuff, but not that great, actually. Below is a list of (non-exhaustive) benefits ranging from property purchases to part time jobs to tax exemptions – I might have left some out though:-
- Real estate purchase. Participants can purchase homes priced RM1,000,000 and above.
- Tax exemptions. Funds remitted to Malaysia are tax-free. Income derived from sources outside Malaysia are not taxable.
- Car purchase. This one’s a biggie. Participants can import or purchase a car locally without the associated taxes (sales tax, excise and import duties).
- Employment. Participants aged 50+ are allowed to work on a part-time basis. Note that those below age 50 are not allowed to obtain employment unless if given explicit permission.
- Maids. Each participant is eligible to bring in a maid subject to terms and conditions as outlined by the Immigration Department.
Huzzah! I’m Ready To Plunge. How Do I Apply?
Either directly (go to the MM2H One-Stop Centre), or through a licensed agent. The One-Stop Centre is at the Ministry of Tourism, Level 1, No 2, Tower One, Jalan P5’6, Presint 5, 62200 Putrajaya (or Google Map here). Licensed agents can be found by Googling “MM2H” (look for the paid links on top!).
How Do I Check The Status Of My Application?
- Government site. As one would expect – the government site is straight laced, dry and looks like it was built with the 1998 version of Microsoft FrontPage.
- Expat forum. Discussions around MM2H as hosted by ExpatGoMalaysia forum site.
- Guide from Henry Butcher (PDF – right click and select save as).
- Guide From TheExpat.com
Got questions? Leave me a message below.
PS: We are not an agency which helps with MM2H applications, unfortunately. There are lots of these agencies around, but we can’t vouch for any for now. Thank you for understanding. 🙂