What is MM2H Program ?
The Malaysia My Second Home Program offers non Malaysians a ten year multiple entries Visa with dependent. The dependent persons is wife, Children (age below 21), Father and mother (Age above 60) and one maid servant.
DOCUMENTS REQUIRED FOR MM2H
- Bio-Data (Applicant
- Passport Copy (All Pages Notarized)-for all(Old one also)
- Original Marriage Certificate (Photocopy & Notarized)
- Birth Certificate (For Children) (Photocopy & Notarized)
- Photograph 7 Copies (for All)
- Bank Solvency- Current/ Savings/ FDR/ Personal Bond (Last Three Months, FDR 6 Months Validity )
- 10000 RM Pay Slip/ Income Statement (Business/ House Rent/ Properties
- Property Statement
- Share Statement
- Company Business Registration /Trade License (for Employers)
- Company Confirmation Letter (for Employee/ Employers)
- Original Police Clearance (for adult)
ADVANTAGE OF MM2H
- People moving to Malaysia under the Malaysia My Second Home (MM2H) can either bring one, previously owned car into the country without paying any duties or taxes
- Purchase a locally assembled car free of all taxes.
- If you choose to import a car you must apply for approval within six months of the visa being issued. If you buy a local car then you have up to one year to make the application for approval.
- You cannot sell the car for at least two years after buying it or bringing it into the country.
- At the time of the sale, the purchaser will have to pay taxes based on a valuation of the car at that time.
- Can buy property from RM 5,00,000 to above
- For the first two property need not to pay any gain taxes
- Take a loan from Bank above 60-70%
- Minimum price of USD 167,000 per unit
- No limit to the number of units
Health check up in government Hospitals and also in Private Hospital
- No taxes on foreign remittances into Malaysia. Your employment income and pension can be remitted here without any taxes.
- You are allowed to purchase medical insurance from insurance companies operating in Malaysia. We were informed that Malaysian medical insurance is very competitively priced.
- You can bring in your pets and used household effects tax-free.
- You can bring in a maid who has worked for you before you move to Malaysia.
- Parents of main applicant (not the parents of the spouse) who are more than 60 years old can be made dependents of the visa. He/she can bring in his/her parents as dependents and are given a renewable 6-monthly visa.
- Children with the MM2H visa are allowed to study in local private schools and colleges.
- In Penang, the minimum purchase price of properties is lower for MM2H holders at RM500,000 per property (maximum 2 units).
- Grandfather clause. You renew the MM2H visa (every 10 years) with the same set of requirements that you have used during application. There will be no surprises and generally, renewing the MM2H visa is easy.
- If there are new MM2H visa benefits, you get to enjoy them even though it is not present during the time of your application.
- The following benefits are the features that makes MM2H stands out (as compared to other countries’ retirement / long term visa):
- 10 years visa benifits
- No “minimum days to stay in Malaysia” requirement. You can get the visa and start staying 20 or 30 years later
- You can stay for as long as you like. You can start staying immediately after getting the visa and never leave Malaysia at all. You just need to renew your passport at consulate in Malaysia
- MM2H is renewable every ten years and it can go on indefinately. No worries about “I am not staying in Malaysia and the visa is a waste”
- You are given multiple entry visas and you can go in/out of the country as many times as you like without informing the authorities
- You are not required to buy or rent a property. You are not required to have an address in Malaysia. You can stay with your friends or not even staying here at all.
- You don’t have to report to anyone or any authorities on where you stay. You can stay anywhere you like (Except Sabah and Sarawak).
- The minimum age is low at “above 21 years old” and we have many young entrepreneurs, especially those working on the internet staying in Malaysia under this program. Thus, MM2H is not a retirement visa but a long term visa as those entreprenuers are not at retirement age.
- When MM2H visa was created years ago, a reference and comparison with similar programs from other countries were made. The deficiencies and complaints that were made against these programs were addressed by MM2H, thus making it the ideal program. Examples of complaints are
- Retirement visa that is valid for one year only (10 years for MM2H)
- Renewal of visa is a pain as it depends on the whims and fancies of the local Immigration officer who may interprete the requirements differently. (MM2H application and renewal is centralized in Putrajaya)
- The conditions and requirements keep on changing and I am not sure if I want to invest so much in this country. What if I cannot renew my long term visa? (MM2H practices “grandfather clause”)
- I don’t want to stay most of my time in the country and I may want to travel around. (MM2H has no “minimum to stay” and you are allowed to enter/leave Malaysia as many times as you like)
- I am not ready to buy or rent any properties yet. Moreoever, it is a big investment. (MM2H does not force anyone to buy or rent any properties).
- I don’t want to report to anyone on where I stay or where I plan to go. (MM2H does not require you to report to the authorities or have a valid address in Malaysia. The authorities does not ask anything from you. You are free to do anything here in Malaysia as long as it does not go against the law or MM2H visa requirements)
FREQUENT ASK QUESTIONS
Transferring money will be depended on clients. Client will transfer money which way he/she will be comfortable.
- Property – for 1st 2 property no gain tax.
- Car – Can bring a car from BD or buy Malaysian local brand car tax free
- Loan – for property purchase can take loan up to 70%
- Health – under MM2H you can go government Hospital for treatment
- Education – Over 40 international collage and university. Can choose any.
Wife, Children’s-under 21, Father and mother age above 60
For children under 21 there’s no limitation. But for father and mother you can chose one of your Applicant or Spouse Parents.
Right now mm2h is only 10 years multiple entry. In future may be the government will give citizenship. But it’s not decided or declared yet.
If your age is below 50 then you are not allow to do job. But you can do business. If you are above 50 then you can do job 20 hours per weeks.
For the deposit money you can’t take any loan facility.
The interest rate is 3-4%
You can admit them in any Malaysia University & take them under student visa.
The business is dependent on your Budget. In Malaysia you can start departmental store, Laundry, Restaurant, Budget Hotel, Agriculture etc.
Yes, you can start it. But for start government related business you need a local or Malay partner for start up the Business.
Yes, you can recruit employee from Bangladesh. And for that the limitation is if you recruit 3 peoples from other countries, need to recruit 1 person from Malaysia 3:1