Malaysia My Second Home Programme (MM2H)

The Malaysia My Second Home Programme (MM2H) offers non Malaysians a ten year renewable visa and various other MM2H privileges. So far some 12,000 people have been approved and it is generating a lot of interest. The programme is primarily attracting people who wish to retire in Malaysia or spend extended periods here.


Applicants can apply for the programme without going through a third party but they must possess a valid medical insurance policy and must pass the police and immigration departments' security checks.

UPON APPLICATION – FINANCIAL REQUIREMENTS FOR MM2H
Applicants are required to show they have sufficient financial resources to live in Malaysia without seeking employment or other assistance from the government.

Applicants under 50 are required to show liquid assets above RM500,000 and a monthly income of over RM10,000 (equivalent).

Applicants over 50 have show assets over RM350,000 and monthly income of RM10,000. Applicants receiving a government pension over RM10,000 a month will be exempted from making the Fixed Deposit (see next section)

Acceptable assets for people over 50 include cash in the bank, bonds, securities and sometimes property.

UPON APPROVAL – FIXED DEPOSIT REQUIREMENTS FOR MM2H
Approved applicants over 50 receiving a pension from a Government in excess of RM10,000 a month can request exemption from making the Fixed Deposit. All others have to make a Fixed Deposit as follows.

i) MM2H Applicants aged below 50 years old:

Must place a Fixed Deposit in a bank account in Malaysia of RM300,000

Can withdraw up to RM150,000 for the purchase of house, medical insurance or children’s education expenses after the deposit has been placed for one year

Applicants can use their car purchase grant to withdraw part of their Fixed Deposit after two years.

Must maintain a minimum balance of RM150,000 from second year onwards and throughout stay in Malaysia under this programme.

Car purchase (copy of Car Grant issued by the Road Transport Department. Receipt of booking fee is NOT ACCEPTED) 

ii) MM2H Applicants aged 50 years and above:

Must place a Fixed Deposit in a bank account in Malaysia of RM150,000

Can withdraw up to RM50,000 of the fixed deposit after one year to purchase of house, medical insurance or children’s education expenses.

Applicants can use their car purchase grant to withdraw part of their Fixed Deposit after two years.

Must maintain a minimum balance of RM100,000 throughout their stay in Malaysia under this programme.

Car purchase (copy of Car Grant issued by the Road Transport Department. Receipt of booking fee is NOT ACCEPTED) 

iii) MM2H Applicants who have purchased a house (or houses) with a total value of RM1 million and above.

Must show evidence of ownership and full payment of the property.

Must have been purchased within 5 years of application for MM2H visa.

Will have to place a Fixed Deposit in a bank account in Malaysia of RM150,000 if under 50 and RM100,000 if over 50.

It should be noted that the fixed deposit does not have to be placed until after the applicant has received a letter of “conditional approval”. This letter sets out the steps that have to be completed before the visa is issued. This usually consists of placing the Fixed Deposit, having a medical examination in Malaysia and obtaining medical insurance for Malaysia. Once these steps are completed the visa can be collected from the Immigration Department in Putrajaya.

Employment/Business Investment Rules for MM2Hers 
In February 2009 the government announced that MM2H visa holders 50 years old and above could work for up to 20 hours a week. This is applicable to visa holders who have specialised skills in certain approved sectors. We are advised the decision on whether to approve part time work is based on the approving committee view on whether a Malaysian could do the job. It was also announced that MM2Hers will also be permitted to set up, and invest in businesses in Malaysia. They will be subject to the same regulations as other foreign investors but will be permitted to actively participate in the running for the business.

Sponsor/Assistance for MM2H 
All applicants require a sponsor and the agent is required to do this. This service is included in their standard fee.

Insurance Coverage and Medical Report for MM2H 
Applicants and their dependants must possess a medical insurance coverage from any insurance company that is valid in Malaysia. This may be waived for older applicants who are denied coverage because of their age. All applicants and their dependants are required to have a medical examination from any private hospital or registered clinic in Malaysia. Both these conditions are met after the letter of “conditional approval” is issued.

Dependents 
Applicants are allowed to bring along their dependants (children below 21 years of age, step children, disabled children, and parents) under their MM2H visa. Older dependent children will have to get a separate visa. Dependants attending school in Malaysia are also required to apply for a Student Pass which allows them to continue their education in schools or Institutions of Higher Learning recognised by the government.

House Purchase 
Each participant is allowed to purchase an unlimited number of residences at a minimum of 500,000 per unit. All purchases must be approved by the State authorities. Certain types of property cannot be purchased by foreigners e.g. those on ‘Malay Reserve’ land.

Parents and Taxes 
Successful applicants are bound by the policies, systems and regulations of taxes of this country however their overseas income will not be taxed in Malaysia.

Security Vetting 
Approvals are given subject to security vetting clearance conducted by the Royal Malaysian Police.Restrictions 
Successful applicants are not permitted to participate in activities that can be considered as sensitive to the local people like political or missionary activity.  

Useful link:  http://www.mm2h.com