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'Malaysia My Second Home' (MM2H)
VISA
PROGRAMME Malaysia My Second Home Programme (MM2H) is a unique ‘Heaven-On-Earth’ programme promoted by the Government of Malaysia.
MAIN OBJECTIVE The MM2H Programme main objective is to allow people from all over the world (except Israel, Serbia and Montenegro) who fulfil certain criteria, to stay in Malaysia as long as possible with a multiple entry visa.
This MM2H Visa is initially for a period of 10 years and is renewable. The ministry entrusted by the Malaysian government to promote this programme is the Ministry of Tourism Malaysia.
Eligibility This programme is open to all citizens of countries recognized by Malaysia regardless of race, religion, gender or age.
On top of that, the applicants are allowed to bring along their spouse, children (below 21 years old and not married) and parents as dependants.
BENEFITS & INCENTIVES OF MM2H VISA PROGRAMME
There are numerous incentives & benefits that certainly going to stimulate your ‘appetite’ to participate in the Malaysia My Second Home (MM2H) Programme. Some of the incentives & benefits are:
Hassle-Free
Stay in Malaysia Unlike most tourist visa that has limitation of time for staying in the country, participants of the MM2H Programme enjoy the flexibility of staying in Malaysia as long as they wish. In other words, they can enter and exit the country without any limitation of maximum stay period that a tourist would normally be subjected to.
Tax Exemption
It is always said that in life there are two things that cannot be avoided; ‘death’ and ‘tax’. Whilst ‘death’ is within the sole jurisdiction of God, we are pleased to say that the MM2H Programme certainly ensures participants are no longer need to pay any tax for their foreign-sourced income that is remitted to Malaysia.
Hence, tax exemption is also given to participants’ pension remitted into Malaysia. In addition, there is no capital gain on any property investment or share investment in Malaysia participated by participants of the MM2H Programme.
Pre-Approval for Property Purchase By Foreigner
The
Ministry of Tourism Malaysia will issue a special letter to participants of
the MM2H Programme. The purpose of this special letter is to expedite the
process of government departments’ approval for the purchase of two
residential houses at a minimum prices above RM250,000 each
without having to go through the normal procedure of
obtaining prior approval from the Foreign Investment Committee and the state
authority upon which the house is located .
Purchasing of a house is not compulsory under the MM2H Programme. It is indeed the fixed deposit requirement that participants have to fulfil in order to qualify for the MM2H Programme. However, one year after participating in the MM2H programme, participants are allowed to withdraw 60%-80% of their fixed deposit pledged to fulfil the financial requirement of the programme to be used to purchase those residential properties.
Car Purchase
Import Duty, Excise Duty and Sales Tax are another types of taxes and duty that participants of MM2H Programme are exempted from paying, should they decide to purchase a locally-assembled car, or bring in with them to Malaysia their ‘personal car’. This exemption can be translated into a saving of up to 300% from the normal market price of the car in Malaysia.
Participants of MM2H Programme can only enjoy this tax exemption if the application submitted to the Ministry of Finance within 6 months from the date of endorsement of the Malaysia My Second Home sticker in their passport. Furthermore, participants are given the flexibility to sell their imported or locally purchased car after 3 years participating in the MM2H Programme.
Having a car without a valid driving licence is deemed ‘meaningless’. Thus, the good news is Malaysia recognizes all valid international driving licences.
Domestic Helper
It is Malaysian government noble intention to see participants of MM2H Programme enjoying life in Malaysia, without even to bother spending time on household chores. Hence, participants are allowed to employ a foreign maid to assist them at home.
Bringing Dependants
Applicants are allowed to bring their spouse, children (below 21 years old and not married) and parents as dependants under the MM2H programme.
We fully understand the needs of ensuring your children to continuously receive quality education they rightly deserved, in Malaysia. Children who intend to continue their schooling in Malaysia are required to apply for a Student Pass and should be insured throughout their stay under this programme. However, children below 7 years old (school going age) are not required to apply for a Student Visa.
Provided that they have participated for at least a year in the MM2H Programme, participants are allowed to withdraw part of the fixed deposit pledged to fulfil the financial requirement of the programme to cover the cost of their children's education.
Healthcare
The fact that all this while Malaysia has been promoting “Medical Tourism” to the world, shows our serious commitment towards providing world-class medical facilities. It is a well known fact that many patients from neighbouring countries have made Malaysia the preferred place for them to recuperate and seek medical treatment. Medical services are available at both public facilities and private facilities in Malaysia. The compulsory medical insurance requirement for participants of the MM2H Programme will indeed cover most of their medical needs.
Provided they have participated for at least a year in the MM2H Programme, participants are allowed to withdraw part of the fixed deposit pledged to fulfil the financial requirement of the programme for the needs of their medical facilities.
Allowed To Do Business
In line with the Immigration Circular No. 6 of 2009, some
improvements have been made to the Malaysia My Second Home (MM2H) Programme.
With effect from 13 February 2009, MM2H participants
are allowed to invest, own and actively participate in business in Malaysia
without
the need to have a separate
Business Visa (Employment Pass)
More than 5,000 companies from over 60 nations have opened their doors in Malaysia. Being at the heart of the ASEAN region, which comprises a potential market of about 570 million population and a combined GDP of more than US$1 trillion, and East Asia, Malaysia is indeed among the most conducive place in Planet Earth to do business.
Moreover, statistics shows Malaysia is ranked 20th most business friendly in the world, compared to Brazil (125), China (59), Germany (25), or even Switzerland (21). Numbers never lie. Comparatively there is less red tape in doing business in Malaysia. In term of less red tape, Malaysia is ranked 5th in Asia, ahead of Japan (6), Thailand (7), the Philippines (8), China (9) and India (10). |
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