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FQA
Success Applicant may enjoy the benefits as below;
Sufficient time deposits and provide proof of monthly income, are the minimum conditions for this program. To increase chance for approval, applicant have to provide additional certificates of depposits, other proof of monthly income and other fixed assets certified documents.
No,applicant is allowed to stay in and out freely from Malaysia. up to 10 years.
Can but it must comply to the initial conditions of the applications, Malaysia government ensure permanent renewal.
There is no guarantee on successful application, but as long as initial eligibility fullfilled, residence permit and multiple entry visa will be renewed.
Generally, applicant may apply with spouse and dependents under 18 years old. Should dependents above 18 years old, subject to approval from MM2H centre and government regulations.
Normally, after complete submission of documents, applicant shall be informed within 45 to 90 days.
Unless approved by the local immigration authorities, or applicant decided to give up the programme, they are retain specific amount of time deposits in bank. After 1 year, may withdraw half or some into property investment approved by the Government.
No. Not allowed to do that, unless approved emergency case by government authorities.
During the period of first year, participants are not allowed to withdraw the Fixed Deposit unless there is an emergency with the prior approval of the Ministry of Tourism.
After a period of one year, the participant may withdraw his/her Fixed Deposit for approved expenses and provide the documents as below:
Please be advised that the withdrawal is on a reimbursement basis and release of money will be made based on the amount paid. If applicant wishes to withdraw the interest accrued on savings, please indicate in the letter of intention. The processing and approval process will take three (3) working days from the date of submission of the application (provided the documentation is complete).
Fixed Deposits can be placed in any bank in Malaysia where interest earned can be withdrawn.
Can，But except for deposit under this scheme，other funds can be converted into currencies such as US dollar deposited into recognised financial institutions in Malaysia.
Can , but terms and conditions applies.
Deposit with banks for more than 12 months, interest earned tax free.
Below 1 year, applicants is not allowed to withdraw the deposits unless emergency case or approved by government authorities.
Cannot. Authorised bank must be in Malaysia.
No. Under this programme, it is not mandatory for participants to buy property, so participants must meet the basic deposit requirements in order to be qualified for MM2H programme.
Under this scheme the applicant cannot be employed in Malaysia, but with professional skills, can apply for work permit application from Department of Immigration. However, a foreign citizen can not have both Malaysia My Second Home visa and licensing work permit. (Above 50 years old can apply to work for maximun 20 hours per week. ) Application time is about 21 days, successful applicants will receive a "work permit" is stamped.
Yes. Participant can register their business with the Companies Commission of Malaysia (CCM) under the Companies Act 1965. Applicant is only eligible to register limited company in Malaysia. However, participant has to be an "inactive partner" in their business investment. For example, they are allowed to attend Directors' meeting but not allowed to work in the company and have own office. Participants are allowed to invest local stock market.
For further details, please contact:
Malaysian Industrial Development Authority (MIDA)
Level 4, Plaza Sentral,Jalan Stesen Sentral 5,Kuala Lumpur Sentral,50470 Kuala Lumpur, Malaysia
Tel: 603 – 2267 3633
Fax: 603 – 2274 7970
E-Mail: promotion@mida.gov.my
Website: www.mida.gov.my
In "Malaysia My Second Home" (MM2H) Programme, participants are not allowed to work. However, based on applicant's own expertise, he/she can apply for a special permit to the Human Resources Department in order to work in Malaysia. If you are successful, you will get a work permit(Employment Pass). If you plan to stay in Malaysia, before permit expires you can apply Malaysia My Second Home (MM2H) program. (Note: A foreign citizen cannot have both Malaysia My Second Home visa and work permit charter)
All foreign income exempt from taxes, but Malaysia's investment income taxable under the provisions of foreign investment in Malaysia.
Purchase up to two pre-approved purchase of property, and the value of each property shall not be less than RM1,000,000.
Yes. However, the rental collected is tax liable, participant needs to pay income tax according to the Malaysia Income Tax Rate.
Yes.
Participants must make will beforehand to ensure that their properties can be transferred to their beneficiaries in the event of accidental death. Else, the family members need to apply to MM2H Centre to get approval and only then the properties can be transferred.
Participants can purchase any form of properties, as long as the properties contain the Certificate of Fitness.
Under MM2H programme, participants do not need to get approval from Foreign Investment Committee (FIC) before selling or buying their houses. However, they must write a letter to MM2H Centre stating the details of the house (location and price) in order to obtain a letter proving that they are legally purchasing the properties. Furthermore, they must submit the photocopy of State Consent to the FIC.
Applicant can enjoy one of the benefits below;
Participants must submit the application to import tax free car within 6 months from the date of MM2H visa stamping. The application process will take around 2 weeks. The applicant may import the car within 6 months from the date of approval.
MM2H participants must submit the application to purchase a duty free car within 1 year from the date of MM2H visa stamping. Please do not purchase the car before getting approval. However, you may pay booking fees for the car purchase first.
Private sale of car will not have to pay levy sales tax and service tax to government.
The Government of Malaysia recognizes all international driving licenses. Therefore, as long as the applicant's international driving license is still in force, they do not need to re-obtain a driving license.
The earnings from investment in local companies or local stock market are taxable. Please refer to the website www.hasilnet.org.my for more details on the tax structure
No
Before year 2004, all foreign income (except pension fund) is taxable. However, after 2004, all income from oversea is not taxable.
Yes
No. The social visit visa granted under MM2H programme is sufficient for primary and secondary education. Once they enter tertiary education, they should apply for student visa via the respective tertiary education institutions.
No, once they confirmed where to study in Malaysia, they can apply for a student visa.
The child will not be considered as a Malaysian citizen while for the MM2H visa, the main applicant can apply to include the child into his/her MM2H visa.
No. Applicants must terminate Malaysia second home visa then only can apply to become a permanent resident.
Yes, but applicants must be free to download, fill out and submit all relevant forms and documents to the Sabah or Sarawak state government. The successful applicants free to access to any part of Malaysia and business investment is allowed. Conversely, to apply Malaysia Second Home visa in West of Malaysia is not allowed to access to Sabah or Sarawak and business investment is disallowed.
MM2H holders need a visa to enter to UK or other countries. Yes, you can directly apply for visa in Malaysia, there are more than 130 Embassies freely choose.
Applicants who born in Malaysia cannot get Malaysian citizenship or get direct access to the identity of Malaysia My Second Home, applicants must apply to add in the child at immigration or through an agent to handle for the visa.
Applicants may receive medical treatment from government hospitals or private hospitals at a higher cost. As for the children' education, you can choose between private schools or international schools.
No. Applicants must terminate their Malaysia second home visa only can apply to become permanent residents.
We CLS (MM2H) Sdn Bhd do provide MM2H visa renewal service for the customers at reasonable fees. Before six months of the visa expiry of the visa, applicant has to provide income proof, bank certificates of deposit, the original approval letter and a photocopy of the passport for the renewal usage.
Can
If you have any questions, feel free to contact +603 9205 5580 !
We will be happy to provide you with quality service.
Consultation Details
-
CLS MM2H Sdn Bhd (414227-A) Unit 6-2-2, Block 6,
2nd Floor, Queens Avenue,
Jalan Bayam,
55100 Kuala Lumpur
- Tel: +603 9205 5580
- Fax: +603 9205 6008
- Email: sales@clsmm2h.com
- Web: www.clsmm2h.com