The Malaysia My Second Home Programme Guide 2022

Application and approval fees

Purchase of property

Medical treatments

Bank deposits

Tourism

Other purchases

A Foreigner can enter and leave the country whenever they choose to do

• However, they need to be physically present in Malaysia for a cumulative total of 90 days per year

Applicants are allowed to bring their children with them as dependants

• The child (dependant) is 21 years old or younger and unmarried,
• Dependants are allowed to receive education in Malaysia,
• However, if any of these children are planning on entering tertiary education in Malaysia, the MM2H social visit pass will have to be terminated and the students will be required to apply for a Student Pass.
  • Ownership of a Student Pass is a requirement imposed by the tertiary learning institutions of Malaysia.

Any foreigner who visits the country through the MM2H programme is allowed to purchase a residential home or property

No taxation on pensions as well as the ability to receive offshore income including funds transferred into the country

Applicants who are over 50 years old are allowed to work part-time for 20 hours a week

• Requires permission from the Immigration Department in order to do so.

Foreigners who are in Malaysia through the use of the MM2H programme are allowed to own and run a company

Allowed to apply for a maid subject to the prevailing guidelines of the Immigration Department.

They are also allowed to bring a pet into the country, and their parents can also join them as dependants through the use of a renewable visa

Those who are younger than 50 years old must have:

• Minimum liquid assets of RM1,500,000
• Minimum offshore monthly income of RM40,000
• A fixed deposit account in Malaysia which contains at least RM1,000,000

Individuals who are 50 years or older must have:

• Minimum liquid assets of RM1,500,000
• Minimum offshore monthly income of RM40,000
• A fixed deposit account with a Malaysian bank which contains at least RM1,000,000
• For retirees, there is a requirement to show proof of receiving pension from government RM10,000 per month

Other requirements include:

• One-off personal bond payment which costs approximately RM2,000
• Social pass will also require an annual payment of RM90

Requirement to stay in Malaysia for 90 days

This may not be feasible for business owners who are conducting business activities outside of Malaysia or have other commitments outside of the country.

Unable to actively run their Malaysia business under the MM2H programme visa

While MM2H visa holders are allowed to set up a private limited company in Malaysia, they are not allowed to be involved in the day to day running of the business. A work visa is required for this.

Unable to work in Malaysia

MM2H visa holders are not permitted to work or be employed while in Malaysia. They are to work overseas – this can be quite contradicting to the above restriction on requirement to spend 90 days in Malaysia as there are concerns on what they can do for the 90 days given working is not allowed.

Age

Above 50 years old, unless you are 30 and above and requires long-term medical care in the country or have a child studying there.

Income

Single applicants need at least RM 7,000 of offshore monthly income or have a fixed deposit account of RM 100,000. A minimum fixed deposit of RM 60,000 is required after 1 year.

For married couples, the income requirement is at least RM 10,000 of offshore monthly income or have a fixed deposit account of RM 150,000. Similar to single applicants, a minimum fixed deposit of RM 60,000 is required after 1 year.