Malaysia My 2nd Home (MM2H) - under 50 years

Requirements

Applicants aged below 50 years are required to show proof of liquid assets worth a minimum of MYR 500,000 ($120,890) and offshore income of MYR 10,000 ($2,418) per month. For certified copy(s) of Current Account submitted as financial proof, applicants must provide the latest 3 months’ statement with each month’s credit balance of MYR 500,000 ($120,890).

The applicant will have to open a fixed deposit account of MYR 300,000 ($72,534). After a period of one year, the participant can withdraw up to MYR 150,000 ($36,267) for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.

The applicant must maintain a minimum balance of MYR 150,000 ($36,267) from second year onwards and throughout stay in Malaysia under this programme.

All applicants and their dependents are required to submit a medical report from any private hospital or registered clinic in Malaysia. Approvals are also given subject to security vetting clearance conducted by the Royal Malaysian Police. Applicants will have to show a police clearance certificate (letter of Good Conduct) from their home country to show they do not have a criminal record.

Benefits

MM2Hers are permitted to set up and invest in businesses in Malaysia. They will be subject to the same regulations as other foreign investors but will not be permitted to become actively involved in the day to day running of the business. If they wish to do this they must switch their visa to a work permit.

Each participant is allowed to purchase an unlimited number of residences above the minimal applicable price set for foreigners buying a property in the State where they make the purchase. In most cases, the minimum price is MYR 1,000,000 ($241,779) 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.

Restrictions

The applicant cannot work in the country under this program.

Renewal

The permit is renewable but renewals are not guaranteed. Applications will be evaluated against current eligibility criteria.

Residency for dependents

Applicants are allowed to bring along their dependants (children below 21 years of age, stepchildren, disabled children, and parents) under their MM2H visa. Older dependent children will have to get a separate visa.

Dependants attending school in Malaysia are also required to apply for a Student Pass which allows them to continue their education in schools or Institutions of Higher Learning recognized by the government.

Household import

The applicant is authorized to import personal household effects used for a period of not less than 3 months and that will not be disposed of within 3 months after date of importation into Malaysia.

Household effects include:

• crockery and cutlery
• furniture
• beddings, curtains
• pictures and wall paintings
• electrical kitchens and garden appliances such as kettle, lawn mover, TV, radio / DVD

Items NOT considered as Household effects:

• Motorbike
• Car
• Powerboat
• Yacht
• Motorhome / Caravan

Pet import

Vaccines:

All pets must have an original Rabies Certificate and this certificate must state the microchip number, the date of inoculation and the validity of the particular vaccination you obtain – the rabies vaccine can be a one year, two year or three-year vaccine and must be more than 30 days old at the time of departure. This vaccine must be an inactivated vaccine.

It is suggested that all animals have full vaccinations, as well:

• Dogs: Distemper, Hepatitis, Leptospirosis, Parainfluenza and Parvovirus (DHLPP) and Bordetella.
• Cats: Feline Viral Rhinotracheitis, Calicivirus and Panleukopenia (FVRCP).

Paperwork

Vet Health Certificate must be filled by your accredited veterinarian. It must be issued within 7 days of the date of export.

An import permit is required in order to enter the country. The import permit is valid for 30 days from the date of issue.

Quarantine

There is a seven day mandatory quarantine for all pets going into Malaysia from the United States. KLAQS is located at the Kuala Lumpur International Airport in Sepang.