What is Malaysia My Second Home (MM2H) Programme ?
Malaysia My Second Home (MM2H) Programme is introduced by the Malaysian government to allow
people from all over the world to live and retire in Malaysia on a long term
basis.
This Programme was transformed from the formally known “Silver-Hair
Programme” which was only applicable to those who were 50 and above.
However, the MM2H is
now open to all citizens of the world with no restrictions on age, race,
religion or gender.
You may participate in this programme alone or bring along
your spouse, dependants (under 20yr+4 months at the time of MM2H submission)
and even your own maid from your country.
MM2H visa is a Ten(10)-Year Social Visit Pass with Multiple Entries which is renewable every 10 years. It is basically a long-stay programme that allows the participants to live in Malaysia and not worry about their short term visa renewals.
MM2H visa is a Ten(10)-Year Social Visit Pass with Multiple Entries which is renewable every 10 years. It is basically a long-stay programme that allows the participants to live in Malaysia and not worry about their short term visa renewals.
You are welcome to stay here for 365 days a year without
having to leave the country because the visa renewal can be done in Malaysia.
Apart from having the opportunities to enjoy good
quality lifestyle and the unique values of Malaysia, our government is offering successful MM2H visa holders incentives to make your stay
more comfortable and enjoyable in Malaysia.
What are the Benefits of Joining MM2H ?
FREEDOM OF TRAVEL
There is no minimum stay requirement. You are free to enter and leave the
country anytime.
PARENTS SPECIAL VISA
Your parents who are over 60-year old will be eligible to live in Malaysia under a special 6-month social visit visa renewable as long as your MM2H visa is valid.
Your parents who are over 60-year old will be eligible to live in Malaysia under a special 6-month social visit visa renewable as long as your MM2H visa is valid.
TAX
a) Your foreign-sourced income or pension are not subject to tax if such income is remitted to Malaysia, since Year of Assessment (Y/A) 2004.
b) You are not subjected to the property gain tax if you make a profit from selling your houses which you purchased under this programme.
a) Your foreign-sourced income or pension are not subject to tax if such income is remitted to Malaysia, since Year of Assessment (Y/A) 2004.
b) You are not subjected to the property gain tax if you make a profit from selling your houses which you purchased under this programme.
c) Interest earned by you from fixed deposit accounts is
also exempted in the following situations:-
i) Period exceeding 12 months or more – any amount of
interest.
ii) Period not exceeding 12 months – interest on fixed
deposit up to a maximum of RM100k.
HOUSE PURCHASE
Any foreigner may purchase any number of residential properties in Malaysia, subject to the minimum rates established for foreigners by the different states. They start from MYR500,000 per unit for most states, from 1st January 2010. Land is a state matter and it is important to check state laws before making any commitment, as the minimum purchase price is not standardised between states.
Any foreigner may purchase any number of residential properties in Malaysia, subject to the minimum rates established for foreigners by the different states. They start from MYR500,000 per unit for most states, from 1st January 2010. Land is a state matter and it is important to check state laws before making any commitment, as the minimum purchase price is not standardised between states.
Also ensure that your lawyer does a thorough check with the
local land office that you have ownership rights to any property that you are
purchasing. Profit made on the sale of property is 5% (Real Property Gains Tax)
CAR PURCHASE
You will be given exemptions on import duty, excise duty and
sales tax:
a) when you bring in your own personal car
b) when you purchase a locally-assembled car
Note:
i) The personal car has to be imported into Malaysia within
6 months from the date of endorsement of MM2H Visa.
ii) Purchase of locally-assembled car has to be completed
within 12 months from the endorsement of the MM2H Visa.
EDUCATION
Your children can receive education (up to age of 18) under MM2H study permit in public or private schools in Malaysia.
HEALTHCARE
Advanced medical facilities are widely available to you in Malaysia. Part of your medical needs will be covered under the compulsory medical insurance.
Investment
MM2H participants are allowed to invest and actively participate in business, subject to existing Government policies, regulations and guidelines which are in force for the relevant sectors.
MM2H participants are allowed to invest and actively participate in business, subject to existing Government policies, regulations and guidelines which are in force for the relevant sectors.
LIVE-IN MAID
You are allowed to apply for one foreign maid subject to the prevailing guidelines of the Immigration Department of Malaysia.
20 HOUR/WEEK SPECIAL WORK PERMIT FOR MAIN APPLICANT
(AGE 50 & ABOVE ONLY)
You are allowed to apply for special work permit to work under the critical sectors subject to the prevailing guidelines of the Immigration Department of Malaysia.
If you like further clarification, please do not hesitate to reach us at provenconsulting@gmail.com
Thank You!!
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