Malaysia My Second Home Program:
Malaysia: My Second Home" program is to allow people from all over the world, who fulfill certain criteria, to stay in Malaysia as long as possible on a social visit pass with multiple entry visa. The Social Visit Pass is initially for a period of 10 years and renewable.
Applicants are expected to be financially capable of supporting themselves on this program in Malaysia.
i. Applicants aged below 50 years are required to show proof of liquid assets worth a minimum of RM500,000 and offshore income of RM10,000 per month.
ii. Applicants aged 50 and above may comply with the financial proof of RM350,000 in liquid assets and off shore income of RM10,000 per month. For those who have retired, they are required to show proof of receiving pension from government approved funds of RM 10,000 per month.
iii. New applicants who have purchased properties worth at least RM 1 million qualify to place a lower fixed deposit amount upon approval.
UPON APPROVAL Successful applicants are required to comply with the following financial criteria upon receipt of the `conditional approval letter' from Immigration Department of Malaysia..
Upon Approval : 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 RM150,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
Must maintain a minimum balance of RM150,000.00 from second year onwards and throughout stay in Malaysia under this program.
Approved participants who have purchased and own property which were bought at RM1 million and above in Malaysia may comply with the basic fixed deposit requirement of RM 150,000 on condition that the property has been fully paid and ownership documents such as grant and land title have already been issued. This amount may not be withdrawn until the participant decides to terminate his participation in MM2H program.
Upon Approval : Aged 50 years and above
Can either choose to:
- Open a fixed deposit account of RM150,000.00 ; OR
- Show proof of government approved pension funds of RM10,000
After a period of one year, participant who fulfills the fixed deposit criterion can withdraw up to RM50,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
Participant must maintain a minimum balance of RM100,000.00 from the second year on wards and throughout his/her stay in Malaysia under this program.
Approved participants who have purchased and owned property which were bought at RM1 million and above in Malaysia may comply with the basic fixed deposit requirement of RM 100,000, on condition that the property has been fully paid and ownership documents such as grant and land title have already been issued. This amount may not be withdrawn until the participant decides to terminate his participation in MM2H program.
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. However, exemptions may be given for participants who face difficulty in obtaining a medical insurance due to their age or medical condition.
Having a reputable Malaysian Government Approved Sponsor is a must. WE have approved and licensed Malaysian Government Sponsor
To have a medical report from any recognized hospital. A medical health insurance valid in Malaysia. The successful applicant cannot seek gainful employment in Malaysia unless he possess special expertise and obtains the permission of the Malaysian government. An applicant can do a business or purchase or rent property in Malaysia. An applicant may accompany his wife, children (under 21 years) and a maid.
Applicants who wish to bring along dependents who are schooling are required to apply for a Student Pass for the dependents) to enroll in schools or institutions of higher learning recognized by the government.
Adil and his team are performing so well, highly knowledgable and professional.. I wish them more success!