The MM2H commonly known as Malaysia My Second Home program is an attractive international residency scheme endorsed by Malaysian Government. It permits foreigners to live in the country on a long term visa of up to 10 years (Renewable). To qualify for this program, applicants must meet certain criteria listed below. Once successful, the applicants are entitled to enter the country on unrestricted basis as many times as one wishes to and also benefit from other incentives aimed at making his/her stay in Malaysia more convenient.
1. Income of RM 10,000-00 per month.
2. Liquid Assets of RM 350,000-00 (if 50 years OR older) OR RM 500,000 (if below 50 years of age).
3. Intention to make a fixed deposit in a Malaysian bank of RM 150,000 (if 50 years OR older) OR RM 300,000 (if below 50 years of age).
- 10-year Visit Pass and Multiple-Entry Visa, which is renewable every ten years and it means eventually it will give you a lifetime easy access to the country.
- Tax free Importing OR purchasing of a new car plus other tax incentives.
- Other tax benefits include, no tax on any income derive outside of the country.
- There is no inheritance tax and no capital gains tax on assets other than property. There is also no VAT, but there is a Government Sales Tax (GST) of five percent on hotel and restaurant bills and on professional bills such as lawyers’ fees.
- Benefit of owning business and investing in Malaysia.
- Affordable luxury lifestyle at a comparatively low cost.
- Above all, you will retain your citizenship and all its privileges in your own country.
- No restriction of number of days to stay in Malaysia and you can travel back and forth, as much as you want.
- Medical insurance policy is affordable.