The government has announced that the Malaysia My Second Home (MM2H) programme will be reactivated in October with updated requirements, after being suspended in August 2020 due to the Covid-19 pandemic.
The decision to add new requirements is based on the government’s intention to improve the quality of applicants, instead of focusing on quantity.
Here’s what you need to know about MM2H programme:
WHAT IS MALAYSIA MY SECOND HOME (MM2H) PROGRAMME?
The Malaysia My Second Home (MM2H) programme, is a visa initiative launched by the Malaysian government to develop Malaysia as a desirable destination to live for potential foreign residents.
MM2H visa holders are allowed to reside anywhere in Malaysia except for Sabah and Sarawak. However, applicants who wish to reside in Sarawak may apply for MM2H Sarawak visa.
WHO IS ELLIGIBLE FOR MALAYSIA MY SECOND HOME (MM2H) PROGRAMME?
This programme is open to all citizens from countries officially recognized in Malaysia as a country, regardless of their gender, religion or age.
The updated eligibility criteria is listed as follows:
- Applicants are divided into two age categories: Between 35 and 49 years; 50 years and above
- Applicants are required to be in the country for a minimum of a cumulative 90 days in a year
- Have an offshore income of at least RM40,000 per month
- Maintain a fixed deposit account of RM1 million (for applicants aged 50 and above) and RM300,000 (for applicants below 50), where a maximum withdrawal of 50% from a principal amount is allowed for purposes such as property purchase, healthcare, and education
- An additional RM50,000 per dependent required in the fixed deposit account
- Proof of liquid assets worth at least RM1.5 million
- Subject to a pass fee of RM500 a year
- Subject to a processing fee of RM5,000 for the main applicant, with an additional RM2,500 per dependent
It is to be noted that the programme is neither a permanent residency permit, nor a direct pathway to obtain it. If an applicant qualifies under the eligibility criteria for the MM2H programme, he/she are eligible for a maximum five-year visa. Applicants will then have the option to extend to another five, and so on.
BENEFITS OF MALAYSIA MY SECOND HOME (MM2H) PROGRAMME
- Visa holders will have the freedom to enter and leave Malaysia with a MM2H visa.
- Visa holders will also be entitled to purchase property in Malaysia. Under MM2H, applicants may apply for a home loan from a bank in Malaysia to buy a property. Granting of the loan will be subject to certain conditions.
- Visa holders may apply for their parents to join them as dependents under a renewable long-term visa.
- Children below 21 years old can study in Malaysia.
- Visa holders may invest in local companies, the share market and unit trusts.
- Visa holders may import their personal and household items into Malaysia tax-free. Certain things do, however, require permits/licenses
HOW TO APPLY FOR MALAYSIA MY SECOND HOME (MM2H) PROGRAMME?
Applications can be done online or through a registered agent.
Applicants that qualify under the eligibility criteria are required to submit a range of supporting documents during application.
Supporting documents include:
- Letter of application: A covering letter from the applicant.
- Copy of resume: Including information of academic qualifications, work experience, skills or experience acquired.
- 3 copies of IM.12 Form: Three copies of the IM.12 Social Visit Pass form. One original copy and two photocopied copies. Each applicant must complete it individually.
- 4 passport photos: Four coloured passport photographs, taken against a blue background.
- Copy of passport/travel document: Full copy of the passport or travel document, including any page with an entrance or exit stamp.
- Letter of good conduct: A letter of good conduct for the main applicant from the applicant’s originating country, such as a police report or letter from an embassy.
- Self-declaration of medical condition: A completed self-declaration form stating any medical history or conditions relevant for all participants.
- Certified copy of marriage certificate (if accompanied by spouse).
- Certified copy of birth certificates (if accompanied by children or parents).
- Certified copy of bank statements: Relevant bank statements, salary slips and financial documents to ensure proof of income.
