MM2H
(My Malaysia Second Home)
The Malaysia My Second Home (MM2H) program was first created in 2002 by the Malaysian government to attract foreigners to live in Malaysia either long-term or semi-permanently. The program was designed to boost foreign investment, stimulate the local economy, and promote tourism.
Duration
Tiers
Renewal Fee
Extra Criteria
- Unmarried children between the ages of 21 and 34.
- Parents.
- Parents-in-Law.
- The minimum requirement of liquid assets of RM 1.5 million has been removed.
More Information Regarding MM2H or My Malaysia Second Home
Visa Duration and Renewal
Renewal: While renewal terms may vary, they are generally favorable for those adhering to the program’s requirements.
Validity: MM2H visa is usually valid for ten years, and it’s renewable, offering long-term stability.
Eligibility and Financial Requirements
Fixed Deposit: Applicants often must place a fixed deposit in a Malaysian bank, typically MYR 1 million for younger applicants and MYR 500,000 for those over 50, with partial withdrawals allowed after a year for approved purposes like healthcare or property.
Age: Open to individuals over 18, with more favorable terms for applicants over 50.
Income Requirements:
Under 50: Applicants under 50 must show a monthly offshore income of at least MYR 40,000 (~USD 8,700).
Over 50: Applicants over 50 can qualify with a monthly income of MYR 10,000 (~USD 2,200).
Health Insurance and Medical Examination
Medical Examination: A health check is required to ensure applicants are in good health upon entering the country.
Health Insurance: Applicants must have health insurance valid in Malaysia.
Tax and Financial Incentives
Property Ownership: MM2H holders can buy property in Malaysia (minimum value varies by state but typically starts at around MYR 1 million).
Tax-Free Offshore Income: Malaysia does not tax income from outside the country, making it appealing for retirees or remote workers with international income sources.
Work and Business Opportunities
Business Ownership: Foreigners can start businesses in Malaysia, although some sectors may have restrictions. MM2H does not, however, grant direct work permits for full-time employment.
Employment: Limited work permissions are available under MM2H, especially for applicants over 50, who may work part-time in specific fields.
Dependents and Family
MM2H applicants can bring along immediate family members, including a spouse and children under 21. Dependents receive the same visa status as the primary applicant.
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