Malaysia My Second Home

Visit Malaysia for the culture, food and the shopping! Stay for the lifestyle!

Now under the Malaysia My Second Home program spearheaded by the Malaysian Ministry of Tourism, foreigners who fulfill certain criteria, can stay in Malaysia on a renewable 10-year multiple-entry social visit pass.

ELIGIBILITY

It is open to citizens of all countries recognised by Malaysia regardless of race, religion, gender or age. Applicants are allowed to bring their spouses and unmarried children below the age of 18 as dependants.

Applicants are expected to be financially capable of supporting themselves on this programme in Malaysia.

  • Applicants aged below 50 years are required to show proof of liquid assets worth a minimum of RM500,000 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 500,000.
  • 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.
  • New applicants who have purchased properties worth at least RM 1 million qualify to place a lower fixed deposit amount upon approval.

INCENTIVES

There is a list of incentives for participants in the Malaysia My Second Home program, of which some are listed below

home ownership

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.

car purchase

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.

domestic helper

Each applicant is allowed to apply for one maid subject to the prevailing guidelines of the Immigration Department of Malaysia.

tax

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.

This is just a summary of the Malaysia My Second Home program. More details can be obtained from the official Tourism Malaysia MM2H website.

Namcom would like to recommend SE7EN @ Tun Dr Ismail for considersation in your decision on making Malaysia your second home. SE7EN @ Tun Dr Ismail is a luxurious low density condo in the heart of Ipoh. With Ipoh just a 2-hour drive from Penang or Kuala Lumpur and cost of living at just a fraction that of either mentioned cities, Ipoh makes an ideal candidate for your MM2H plans. Currently there are daily 90-minute Ipoh-Singapore flights, and now with the expansion of the Ipoh Airport underway, flights to more destinations are being added. Kuala Lumpur is also accessible via the 1-hour-40-minute High Speed Rail. Hence, give Ipoh the consideration it deserves.