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What is MM2H?
MM2H, or Malaysia My Second Home, is a program designed to attract foreigners from around the globe who meet specific criteria to live in Malaysia. This long-term social visit pass grants holders’ multiple entries for ten years, with the possibility of renewal if all requirements are met. Participants have the freedom to stay for as long as they wish & can leave at their convenience although visa duration is tied to the validity of their passport. If the passport is valid for 3 years MM2H visa will be granted for 3 years. The program initially proposed by the Ministry of Tourism & Culture (MOTAC), is now overseen by the Immigration Department of the Home Affairs Ministry, with MOTAC still responsible for its promotion. It's crucial to note that the MM2H visa is not permanent residence permit and does not serve as direct pathway to permanent residency. While applying for permanent residency in Malaysia is complex and time consuming process, participants under MM2H may explore this option after a certain period of stay in the country.
Who can apply?
The MM2H program is open to citizens of all countries officially recognized by Malaysia, without discrimination based on religion, gender, or age. Participants in program have privilege of applying to bring their spouses, unmarried children under the age of 21 & parents to Malaysia. It's important to note that visa for children is only valid until they reach age of 21. Additionally, participants have option to apply to bring 1 helper with them. Remarkably MM2H program even outlines procedures for those who wish to bring their pets along, offering comprehensive & inclusive approach to accommodating the diverse needs of individuals and families seeking to make Malaysia their second home.
Where can I stay?
MM2H visa holders enjoy the flexibility to reside anywhere in Malaysia, excluding Sabah and Sarawak. Those who prefer to make Sarawak their home need to obtain the specific MM2H Sarawak version of the visa. However, it's essential to recognize that converting between two versions is complex process making it advisable to decide on the preferred location, whether it be Peninsular Malaysia or Sabah/Sarawak, before initiating the application. Notably, holders of Sarawak MM2H visa can reside anywhere in Malaysia. Eligibility criteria differ between Peninsular Malaysia & Sarawak, with the primary distinction being age limit. Importantly, the MM2H program does not mandate property ownership as requirement; however, it presents avenue with associated benefits for those interested in acquiring property in Malaysia.
Malaysia My Second Home Benefits?
The Malaysia My Second Home (MM2H) programme extends a host of benefits to participants, providing them with an array of advantages beyond inherent flexibility and multiple entry residency within Malaysia or Sarawak. One notable privilege is the ability to purchase property in Malaysia. For holders of the Sarawak MM2H visa, residential properties can be acquired with a minimum purchase price of RM300,000 in designated areas. In Peninsular Malaysia, the minimum purchase price varies based on state regulations, ranging from RM500,000 to RM1,000,000 as pre-approved by the Foreign Investment Committee of Malaysia. This makes MM2H an attractive option for foreigners keen on entering the Malaysian property market, enabling them to own homes for personal use, holiday residences, or rental purposes.
Benefits of MMH2:
Under MM2H, participants can apply for home loans from Malaysian banks, subject to specific conditions. Importantly, there are added advantages for property acquisition in certain regions, such as Penang, where the minimum purchase price may be lower and there are no restrictions on the type of property. MM2H holders are allowed to purchase two properties, each valued at a minimum of RM500,000, encompassing houses, bungalows, gated communities, or condominiums, without specific limitations. Beyond property ownership, MM2H offers a range of additional benefits. Participants can import personal and household items into Malaysia tax-free, though certain items may require permits or licenses. They also have the opportunity to invest in local companies, share markets, and unit trusts. The interest earned on bank fixed deposits is tax-free, and offshore-generated income, pensions, and foreign funds can be transferred into Malaysia without incurring taxes. MM2H visa holders may even own and operate their own local or overseas businesses as directors, subject to specific terms and conditions. The programme allows visa holders to apply for their parents to join them as dependents under a renewable long-term visa. Children below 21 years old can pursue education in Malaysia, and visa holders over 50 years old may engage in part-time work for up to 20 hours per week with permission from the immigration department and adherence to specified conditions.
Applicants Requitements-
To qualify for the Malaysia My Second Home (MM2H) programme, applicants must meet specific financial requirements and demonstrate their financial strength in Ringgit Malaysia (RM). The application must be accompanied by a certified copy of the latest three months' bank statements, as well as certified copies of the latest three months' payslips, income statements, or pension slips, depending on the applicant's situation. For applicants in Peninsular Malaysia who are over 50 years old, financial requirements include having liquid assets worth at least RM 350,000 and offshore monthly income of RM 10,000. After receiving conditional approval, they are required to open a fixed deposit account for RM 150,000. Withdrawals from this fixed deposit after 1 year are allowed for specific purposes, such as buying property, purchasing a car, funding children's education, or covering medical expenses. Throughout the MM2H visa stay, a minimum balance of RM 100,000 must be maintained.
For applicants in Peninsular Malaysia who are under 50 years old, financial requirements involve having liquid assets worth at least RM500,000 and offshore monthly income of RM10,000. After conditional approval, a fixed deposit account of RM 300,000 must be opened. Similar to the above, withdrawals from this fixed deposit after 1 year are allowed for specific purposes, and a minimum balance of RM 150,000 must be maintained throughout the MM2H visa stay. It's important to note that monthly income sources can include salary, pension, rental income, investment returns, interest, etc., but these sources must be from outside of Malaysia. Liquid assets refer to cash or assets readily convertible to cash, excluding property. If the applicant decides to leave the MM2H programme, they may withdraw their entire fixed deposit, but prior approval from the Ministry of Tourism is necessary. While a Malaysian citizen must sponsor an applicant, a Malaysian second-home agent is also eligible to act as a sponsor.
How to apply:
To participate in the Malaysia My Second Home (MM2H) programme, you can choose to apply directly or through an agent, whether overseas or within Malaysia. All applicants are required to have a Malaysian sponsor, and an MM2H agent can serve as your sponsor, except Sarawak MM2H. It is crucial to engage a reputable registered agent to avoid potential issues during the application process.The application process for MM2H involves several key steps:
Step 1:Apply online and download all necessary forms and documents.
Step 2: Complete and submit the required documents. While individuals familiar with the latest rules can do this themselves, many opt to work through an MM2H licenced agent who is well-versed in the process. Applicants are responsible for the agent's fee.
Step 3: Processing and approval typically take 4-5 months.
Step 4: Upon approval, you will receive a conditional approval letter from the MM2H immigration unit.
Step 5: Upon arrival in Malaysia, you have six months to submit the remaining documents to the MM2H authority. This includes making fixed deposits at a Malaysian bank and providing fixed deposit certificates. Additionally, obtaining valid medical insurance for Malaysia (which may be waived for certain age-related reasons) and undergoing a medical examination for the applicant and dependents at a private hospital or registered clinic is mandatory. If a child is attending school in Malaysia, a student pass application along with a student personal data form is necessary.
Step 6: Upon arrival in Malaysia, you have six months to submit the remaining documents to the MM2H authority. This includes making fixed deposits at a Malaysian bank and providing fixed deposit certificates. Additionally, obtaining valid medical insurance for Malaysia (which may be waived for certain age-related reasons) and undergoing a medical examination for the applicant and dependents at a private hospital or registered clinic is mandatory. If a child is attending school in Malaysia, a student pass application along with a student personal data form is necessary.
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