Malaysia - My-Second-Home

The Malaysian Government’s Malaysia My Second Home (MM2H) programme allows foreigners from any recognised countries to live in Malaysia all year round. Over 10,000 people have been admitted, ranging from retirees to holiday home owners, attracted by the quality of life, warm climate and low living costs. From January this year, applicants can can either apply directly, without going through any other third party, or may continue to use the services of MM2H agents licensed by the Ministry of Tourism, Malaysia. Successful MM2H applicants receive many benefits:

• MM2H visa holders are permitted to import their own car from their country of residence or citizenship, duty free. Alternatively, they can buy a locally manufactured or assembled car tax free.
• Remitted income from overseas is not subject to tax and there is no inheritance tax.
• Each holder is allowed to bring in one domestic helper. The domestic worker must come from countries that have been approved by the government such as the Philippines, Thailand and Indonesia.
• Those eligible for MM2H are not allowed to take up employment in Malaysia. However, they are allowed to invest in Malaysian business, as long as they do not get involved in the day-to-day running. Work permits need to be applied for separately.

Qualification:

• Applicants must show enough income to support themselves while living in Malaysia. This means a regular monthly income over RM10,000 or around £1,600.
• There are no age restrictions. However, once approved applicants over 50 have to place a Fixed Deposit of RM 150,000 with a bank in Malaysia. This is not necessary for those who receive an overseas government pension of at least RM10,000. For those under 50 a Fixed Deposit of RM 300,000 is required.
• Application must be made through an approved agent
• There are slight differences in requirements for East Malaysia, Sabah and Sarawak.
  

For further information visit the Malaysian government website www.mm2h.gov.my