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MM2H

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MM2H benefits

  1. All MM2H participants are entitled to purchase one duty-free car and must be locally assembled. Valid for one year upon the date of endorsement of the MM2H stickers. The second car onwards will be at the current market rate.
  2. MM2H participants can buy more than one unit of property but each must be valued above RM500,000.
  3. MM2H participants are given an I-Card by the Malaysian government for their convenience when traveling around Malaysia.
  4. MM2H participants wishing to withdraw their money from the Fixed Deposit accounts can do so after one year for the purpose of buying properties, children’s education and medical expenses.
  5. A special counter is allocated for MM2H participants in KLIA.
  6. Qualified MM2H participants aged 50 and above are allowed to work in selected industries for not more than 20 hours per week.
  7. MM2H participants are allowed to invest and actively participate in business, subject to existing government’s policies, regulations and guidelines.
  8. All MM2H participants will now enjoy a 10-year Social Visit Pass, subject to the validity of their passports.
  9. Employment Pass holders wishing to participate in the MM2H program are exempted from the “cooling off period” on the condition that their application to participate in the program is submitted three months prior to the expiry of their Employment Pass.
  10. MM2H participants can bring their unmarried children as dependents under the program provided they are aged 21 and below. They also can bring their stepchildren, disabled children and parents as dependents under the program.

Improvements on MM2H (as of 13 February 2009)

  1. Qualified MM2H participants aged 50 and above with specialized skills and expertise that are required in the critical sectors of the economy are allowed to work on a part time basis.
  2. The approval to work part time is subject to the following conditions
    • The application is approved by the MM2H Special Committee.
    • The work contract needs to state that MM2H participants are working on a part time basis with work schedule attached.
    • Total number of work hours a week does not exceed 20 hours.
  3. MM2H participants are allowed to invest and actively participate in business, subject to existing government policies, regulations and guidelines which are in force for the relevant sectors.
  4. Foreign spouses of Malaysian nationals are eligible to apply for MM2H, subject to the terms and conditions of the MM2H program. Alternatively, they have the option to apply for the Spouse Program.
  5. The 10-year Social Visit Pass is extended to all Silver Hair and MM2H participants who were previously approved under the five-year Social Visit Pass, subject to the validity of their passports.
  6. Employment Pass holders who wish to participate in the MM2H program are exempted from the “cooling off period” on the condition that their application to participate in MM2H program is submitted three months before the expiry of the Employment Pass.
  7. ID Cards will be issued to MM2H participants with permanent address in Malaysia. This is validated by submitting the Sale and Purchase Agreement or Tenancy Agreement in Malaysia.
  8. Age limit of unmarried dependent children is raised from 18 years old to 21 years old. A declaration stating that the child is unmarried and all expenses during the stay in Malaysia will be borne by the principal participant of the MM2H program is required.
    • a. “Dependents” include unmarried children aged 21 years and below, step-children, disabled children and parents.
  9. As of 1 January 2010, MM2H participants are subject to 5% Real Property Gain Tax (RPGT) if their properties are disposed within the five years time frame.

4 Most Important Entry Requirements

Aged 50 and above

  1. Proof of monthly income (off-shore) of not less than RM10,000.
  2. Latest three months personal bank statement with the current closing balance of above RM350,000.
  3. To show a Letter of Good Conduct.
  4. To open a fixed deposit account in any local bank for the sum of RM150,000 after approval.

Aged 50 and below

  1. Proof of monthly income (off-shore) of not less than RM10,000.
  2. Latest three months personal bank statement with the current closing balance of above RM500,000.
  3. To show a Letter of Good Conduct.
  4. To open a fixed deposit account in any local bank for the sum of RM300,000 after approval.

Requirements for Opening of Fixed Deposit Account Aged 50 and above

  1. Minimum deposit, RM150,000.
  2. Minimum lock-in period, ONE year. Auto renewal is recommended.
  3. Request for TWO receipts upon application:
    • For the sum of RM50,000.
    • For the sum of RM100,000.
  4. An official letter from the bank after successful opening of the account.

Aged 50 and below

  1. Minimum deposit, RM300,000.
  2. Minimum lock-in period, ONE year. Auto renewal is recommended.
  3. Request for FOUR receipts upon application:
    • TWO receipts for the sum of RM100,000.
    • TWO receipts for the sum of RM50,000.
  4. An official letter from the bank after successful opening of the account.

MM2H Agents’ Fees (as approved by the Ministry of Tourism Malaysia)

Stage 1: Application Process, RM7,000 (maximum)

  1. Provide advice and consultation to the applicants on the latest rules and regulations.
  2. Preparation of required documents for application and submission purposes to the Immigration Department and Ministry of Tourism.
  3. Signing of Personal Bond with applicants on behalf of the Malaysian Government to guarantee good conduct of the participants throughout their stay in Malaysia.
  4. Follow up on application.

Stage 2: Assisting Participants to Relocate to Malaysia, RM3,000 (maximum)

  1. Arrange for transportation and accommodation for participants upon their arrival in Malaysia.
  2. Assist participants to open fixed deposit accounts and arrange for insurance policies and medical reports (if required).
  3. Bring participants to the Immigration Department to pay Visa fees.

Total fee, RM10,000 per participant (maximum).

Additional Services available – Prices are negotiable with Agents

  • Rent or purchase properties.
  • Application for AP imported cars.
  • Application for housemaids.
  • Application for car tax exemption.
  • Arrangement to bring their belongings from overseas.
  • Registration for student passes for schools or colleges (for applicant’s children).
  • Application to withdraw from fixed deposit accounts after a period of one year.
  • Registration for phone lines or electricity or water supply for participants’ properties.
  • Consultation on travel packages available or on purchasing of properties.
  • Any other additional services upon request or proposed by the companies.

Home Finder, Official Magazine of the Malaysia My Second Home Agents’ Association