MALAYSIA MY SECOND HOME (MM2H)
Malaysia My Second Home (MM2H) is a program introduced by the Malaysian government to allow people from all over the world to live and retire in Malaysia. The MM2H scheme provides a renewable ten-year maximum, multiple-entry visa for successful applicants from around the world. In fact, applicants are allowed to bring along their spouse and children (below 21 years old who is not married).
Upon Application – Financial Requirements for MM2H
- Applicants are required to show they have sufficient financial resources to live in Malaysia without seeking employment or other assistance from the government.
- Applicants under 50 are required to show liquid assets above RM500, 000 and a monthly income of over RM10, 000 (equivalent).
- Applicants over 50 have to show liquid assets over RM350, 000, and a monthly income over RM10, 000.
MM2H Documents required:
- Letter of Application (Cover Letter).
- Personal background and indicate your intention to join My Second Home program
- With whom you wish to come (single or with family).
- Briefly explain how you will support your stay in Malaysia (financial capabilities).
- Which financial criteria you wish to use; either Fixed Deposit OR monthly off-shore income (for 50 years and above). Only applicants drawing from Government Approved Funds will be considered to have fulfilled the “Monthly off – Shore Income” criteria.
- MM2H Application Form & Two (2) copies of Form IM.12 (Social Visit Pass Form)
- Two (2) passport-sized photographs
- Personal bond (if applicants appointed sponsors)
- A certified copy of Passport / travel document (all pages)
- A certified copy of a Marriage Certificate (if accompanied by spouse)
- A certified copy (s) of birth certificate (if accompanied by Children)
- Resume with 10 years of working experience
- A certified copy of latest bank statement /other related financial document to indicate the financial capability to support stay in Malaysia
- At least latest 3 months certified copies of pay slip/pension slip/income statement etc.
Upon Approval – Fixed Deposit Requirements For MM2H
All applicants have to make a Fixed Deposit based on their age, as follows:
- M2H Applicants aged below 50 years old:
- Must place a Fixed Deposit in a bank account in Malaysia of RM300,000
- Can withdraw up to RM150, 000 for the purchase of house, medical insurance or children’s education expenses after the deposit has been placed for one year
- Applicants can use their car purchase grant to withdraw part of their Fixed Deposit after two years. Must maintain a minimum balance of RM150, 000 from second year onwards and throughout stay in Malaysia under this programme.
2. MM2H Applicants aged 50 years and above:
- Must place a Fixed Deposit in a bank account in Malaysia of RM150, 000
- Can withdraw up to RM50, 000 of the fixed deposit after one year to purchase of house, medical insurance or children’s education expenses. Applicants can use their car purchase grant to withdraw part of their Fixed Deposit after two years.
- Must maintain a minimum balance of RM100, 000 throughout their stay in Malaysia under this programme.
Sponsor/Security (Personal) Bond
All applicants require a Malaysian sponsor to support their application. In addition they will be required to place a Personal Bond of up to RM2000 before the visa will be issued. If the applicant uses an agent then the agent will become the sponsor and the agent is also required to place the Personal Bond for the applicant.
Insurance Coverage and Medical Report for MM2H
Applicants and their dependants must possess a medical insurance coverage from any insurance company that is valid in Malaysia. This may be waived for older applicants who are denied coverage because of their age. All applicants and their dependants are required to have a medical examination from any private hospital or registered clinic in Malaysia. Both these conditions are met after the letter of “conditional approval” is issued.
House Purchase
Each participant is allowed to purchase an unlimited number of residences above the minimal applicable price set for foreigners buying property in the State where they make the purchase. In most cases the minimum price is RM1, 000,000 although some States, like Penang, have lower minimums for Mm2H visa holders. All purchases must be approved by the State authorities. Certain types of property cannot be purchased by foreigners e.g. those on ‘Malay Reserve’ land.
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