SharifStudy A way to Study Malaysia
The Malaysia My Second Home or MM2H Visa is an initiative by the Malaysian government that welcomes foreign nationals into the country, offering them a unique opportunity for a long-term stay.
Designed to promote Malaysia as an excellent place to live, this visa program extends a multiple-entry social visit pass to those who fulfill the specified criteria.
With its straightforward process and appealing benefits, the MM2H Visa not only enhances the cultural diversity of Malaysia but also contributes significantly to the country’s international appeal. Discover how this program could be your perfect gateway to experiencing Malaysia’s rich culture, vibrant economy, and diverse lifestyle.
The original validity of the social visit pass is five (5) years, and it is renewable.
Visa MM2H Eligibility
People from all countries acknowledged by Malaysia have the green light to apply, with no regard for their race, faith, sex, or age. As for dependents, hopefuls can include their spouses and children below 21 years old.
Terms and Conditions
1-Financial Requirements
Candidates must be able to sustain themselves financially while participating in this program in Malaysia.
According to tourism, culture, and arts minister Tiong King Sing, three tiers have been developed for the Malaysia My Second Home (MM2H) plan, which will allow plentiful foreigners to stay in Malaysia for an extended period of time.
| Silver | Gold | Platinum | |
| Fixed Deposit | RM 5oo,000 | RM 2 Million | RM 5 Million |
| Duration | 5 Years, Renewable | 15 Years, Renewable | Permanent Residency |
2- Medical Report
Every candidate, along with any dependents, must present a medical report from a Malaysian private hospital or licensed clinic.
3- Medical Insurance
The approved participants and their dependents must have current, Malaysia-applicable medical insurance coverage from any insurance provider.
However, those who experience problems getting medical insurance owing to their age or medical condition may be granted exemptions.
4- Security Bond (direct application only)
Direct application candidates must satisfy the security bond requirement. For rates per person by nationality, which range from RM 200 to RM 2000, please refer to the security bond.
5- Personal Bond (application through an agent)
For their clients who have been accepted under the MM2H scheme, licensed businesses are required to offer the personal bond.
MM2H Visa Benefits
1- Purchase a House
In Malaysia, any foreigner may buy any type of residential property as long as they pay the minimum amount set by the various governments for foreign buyers.
For the majority of states, they begin at RM500,000 per unit on January 1, 2014. Land is a state affair, thus it’s crucial to review state regulations before committing, as there is no uniform minimum purchase price across states.
2- Purchase or Import Car
Only CKD (completely knocked down) locally built vehicles up to a total of RM150,000 are valid for excise duty exemptions.
Participants must submit the application to buy a brand-new locally made CKD car within two (2) years from the date the Malaysian Immigration Department issued the MM2H social visit pass. If a participant doesn’t apply for the duty exemption within this time frame, no further extension will be granted.
3- Apply for a helper
Each candidate may submit one application for a maid as long as they follow the current immigration department of Malaysia rules.
4- Registering Children in Private Colleges and Universities
MM2Hers can register their children in Private Colleges and Universities.
Limitations on the MM2H Program
The MM2H program is restricted to a number of limitations, which are stated below:
- The requirement to stay in Malaysia for 90 days.
- This may be challenging for business owners that undertake business activities outside of Malaysia or have other obligations outside of the country.
- unable to use the MM2H program visa to actively operate their Malaysian business.
- MM2H visa holders are permitted to establish a private limited company in Malaysia, however they are not permitted to participate in daily affairs of the company. This requires a work visa.
- MM2H visa holders are not permitted to work or pursue employment while in Malaysia. They are to work overseas – this may contradict the preceding restriction on the obligation to spend 90 days in Malaysia, as there are worries about what they can do during the 90 days if employment is not permitted.
MM2H Withdrawal Requirements
From the second year onwards, participants in the MM2H program who are 50 years of age and older can withdraw up to RM50,000 from the required Fixed Deposit, while participants younger than 50 years of age can withdraw up to RM150,000 for approved expenses such as home purchases, car purchases, children’s education in Malaysia, and medical needs. However, they must maintain a balance of RM100,000 (for those 50 years and older) or RM150,000 (for those younger than 50 years) in fixed deposits until they exit the MM2H Program.
The following documents are needed for withdrawals from fixed deposits:
- The letter indicated a desire to cancel the Fixed Deposit account
- the MM2H visa copy
- passport front page replica
- certified copy of a fixed deposit
- copies of the sales and purchase agreements and receipts for the purchases of residential properties, cars, and other items (to submit car grant title & receipt), Education of children in Malaysia (to submit receipt), Medical costs (to submit receipt)
- copy of the letter of conditional approval
Please be aware that the withdrawal is based on reimbursement, and that the amount released will depend on how much was paid.
After the first year, effective as of the date the passport was endorsed with the MM2H social visit pass, a withdrawal may be made.
Please indicate in the letter of intent if the applicant wishes to withdraw the interest earned on savings.
FAQs
1.What are the MM2H visa benefits in Malaysia?
You can bring children under the age of 21 who are not married as guardians. You are allowed to apply for one maid. Pensions transferred into Malaysia are exempt from taxes. Eligible to register a limited corporation in Malaysia.
2. Can I work in Malaysia with MM2H Visa?
MM2H participants cannot work as employees however they can do business or invest in Malaysia under specified limitations.
3.For what period of time can foreigners remain in Malaysia?
You do not require a visa if you are visiting for business or tourism for 90 days or less. Immigration officers will stamp your passport with a social visit pass (visa), which allows you to stay for up to 90 days.
4.Does Malaysia apply any taxes on Visa MM2H?
Your yearly personal tax return is due to the Inland Revenue Board on April 30th after your tax resident status has been determined.
The rate for foreigners’ resident tax, which is the same as Malaysians’, ranges from zero to twenty-eight percent. A fixed rate of 28% will apply to the those who are not residents individual.
