Eligibility
It is open to citizens of all countries recognised by Malaysia regardless of race, religion, gender or age. Applicants are allowed to bring their spouses and unmarried children below the age of 18 as dependants.
Foreigners who are married to Malaysians are not eligible for MM2H programme but may apply to stay in Malaysia under the Immigration Department's "Spouse Programme" with a Long Term Social Visit Pass (please refer to website http://www.imi.gov.my ).
Incentives
Participants of Malaysia My Second Home Programme are provided with various incentives to make their stay more comfortable and enjoyable in Malaysia.
House Purchase Each participant is allowed to purchase residential houses at price above RM250,000, depending on the location of the property. Generally the minimum price for the purchase of houses in Malaysia are as follows: 1 Above RM300,000 per unit for certain areas in the state of Sarawak (Kuching, Miri) 2 Above RM250,000 per unit for other states
Terms and Conditions
| Financial Requirement |
|
Successful applicants are required to comply with the following financial criteria upon receipt of the `conditional approval letter' from Malaysia Immigration Department.
Applicants are expected to be financially capable of supporting themselves for ten years on this programme in Malaysia, without the need to work in the country. Besides fulfilling the basic financial criteria of Fixed Deposit placement of RM150,000 (for those aged 50 and above) or RM 300,000 (for those aged below 50), applicants should furnish documentation on their financial position to strengthen their application.
i Aged Below 50 years old
- Open a fixed deposit account of RM300,000.00.
- After a period of one year, the participant can withdraw up to RM240,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
- Must maintain a minimum balance of RM60,000.00 from second year onwards and throughout stay in Malaysia under this programme.
ii Aged 50 years and above
- Can either choose to:
- Open a fixed deposit account of RM150,000.00 ; OR
- Show proof of monthly off-shore income of RM10,000.00 such as pension scheme.
- Only applicants who are drawing from Government Pensions can be considered for the " Monthly off - Shore Income " criteria.
- After a period of one year, participant who fulfills the fixed deposit criteria can withdraw up to RM90,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
- Participant must maintain a minimum balance of RM60,000.00 from the second year onwards and throughout his/her stay in Malaysia under this programme.
Note
| 1 Successful applicants need to open their fixed deposits in Ringgit Malaysia (RM) only.
2 Participants need to obtain from approval from Ministry of Tourism before proceeding to withdraw the fixed deposit
3 Participants under this programme may withdraw their entire fixed deposit anytime should they decide to terminate their stay in Malaysia under this programme. However, they must obtain prior approval from the Ministry of Tourism. | |
For more information, click on http://www.mm2h.gov.my/conditions.php
Source: www.mm2h.gov.my/conditions.php
Date: 23rd July 2008.
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