MM2H

MM2H

Malaysia My Second Home (MM2h) is a program promoted by the Malaysia Tourism Authority and Immigration Department of Malaysia, to allow foreigners to stay in Malaysia for a period of ten (10) years.

Who is eligible?

Its open to citizens of all counties recognised by Malaysia regardless of race, religion, gender or age. Applicants can bring their spouses and unmarried children below the age of 21 as dependents.

Financial requirements

Applicants are expected to be financially independent and capable of supporting themselves in this program.

Upon Application

Applicants aged below 50 years

Required to show proof of liquidated assets worth a minimum of RM500,000 and offshore income of RM10,000 per month. Certified Copy(s) of Current Account will be submitted as financial proof as well as latest 3 months statement is needed with each month’s credit balance of RM500,000.

Applicants aged 50 and above

With financial proof of RM350,000 in liquid assets and offshore income of RM10,000 per month. Certified Copy(s) of Current Account submitted as financial proof as well as latest 3 months’ statement with each month’s credit balance of RM350,000. For pensioners, they can show proof of receiving pension of at least RM10,000 per month.

MEDICAL REPORT & INSURANCE

All applicants and their dependents are required to submit a medical report from any private hospital or registered clinic in Malaysia.

Approved participants and their dependents must possess valid medical insurance coverage that is applicable in Malaysia from any insurance company.

PERSONAL BOND

Applicants are required to fulfil the security bond requirement, it differs per person by nationality, ranging from RM200 to RM2,000.

OTHER REQUIREMENTS

All documents must be presented in English, in the event that the original documents are not in English, it needs to be translated and notarized by respective notarial department.

PROPERTY & CAR PURCHASES

Each applicant is permitted to purchase residential houses at a minimum price of RM1,000,000 and above each in Kuala Lumpur and Penang that are pre-approved by the Foreign Investment Committee of Malaysia. In other areas, the minimum price of purchased property is lower.

MM2H holders can take a home loan to finance your house. The loan tenure will be up to 65 years of owner’s age or 30 years, whichever is lower.

In order to commute in Malaysia, buying a car is advisable as securing a car loan is straightforward- all you have to do is to fork up to 30% of the purchase price up front and the rest can be financed by a hire purchase loan, MM2H holders will also be subjected to sales and duty tax for the purchases of new or second-hand cars. Petrol and car maintenance are relatively cheap in Malaysia.

As for a driver’s license, you can attend any driving school in Malaysia and sit for a driver’s exam to obtain a domestic driver’s license or convert an existing driver’s license from your country of origin to a Malaysian probationary driving license as long as the country is in an agreement/treaty with Malaysia. While driving in Malaysia, they will have to comply with all traffic rules in the country. Below is the list of countries that are able to convert their existing driver’s license to the domestic driver’s license.

List of Countries