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Malaysia My
Second Home Programme is
promoted by the Government of Malaysia to allow foreigners who fulfill certain
criteria, to stay in Malaysia for as long as possible on a multiple-entry social
visit pass.
The Social Visit Pass is initially for a period of ten (10)
years, and is renewable.
ELIGIBILITY
:
It is open to citizens of all countries recognized by Malaysia
regardless of race, religion, gender or age. Applicants are allowed to bring
their spouses and unmarried children below the age of 21 as dependants.
FINANCIAL REQUIREMENT :
Applicants are
expected to be financially capable of supporting themselves on this Programme in
Malaysia.
Upon application :
-
Applicants aged below 50
years are required to show proof of liquid assets worth a minimum of RM500,000
and offshore income of RM10,000 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
RM 500,000.
-
Applicants aged 50 and above may comply with the financial
proof of RM350,000 in liquid assets and off shore income of RM10,000 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
RM 350,000. For
those who have retired, they are required to show proof of receiving pension
from government approved funds of RM 10,000 per month.
-
New applicants who have purchased properties worth at least RM 1 million qualify to place a lower fixed deposit amount upon approval.
UPON APPROVAL :
Successful applicants are required to comply with the following
financial criteria upon receipt of the `conditional approval letter' from
Immigration Department of Malaysia.
Upon Approval : Aged Below
50 years old
Open a fixed deposit account of RM300,000.00.
-
After a period of one year, the participant can withdraw up to
RM150,000.00 for approved expenses relating to house purchase, education for
children in Malaysia and medical purposes.
-
Must maintain a minimum balance of RM150,000.00 from second
year onwards and throughout stay in Malaysia under this Programme.
Approved participants who have purchased and own property which
were bought at RM1 million and above in Malaysia may comply with the basic fixed
deposit requirement of RM 150,000 on condition that the property has been fully
paid and ownership documents such as grant and land title have already been
issued. This amount may not be withdrawn until the participant decides to
terminate his participation in MM2H Programme.
Upon Approval: Aged
50 years and above
-
Can either choose to :
- Open a fixed deposit account of RM150,000.00; OR
- Show proof of government approved pension funds of RM10,000
-
After a period of one year, participant who fulfills the fixed
deposit criterion can withdraw up to RM50,000.00 for approved expenses relating
to house purchase, education for children in Malaysia and medical purposes.
-
Participant must maintain a minimum balance of RM100,000.00
from the second year onwards and throughout his/her stay in Malaysia under this programme.
-
Approved participants who have purchased and owned property which were bought at
RM1 million and above in Malaysia may comply with the basic fixed deposit
requirement of RM 100,000, on condition that the property has been fully paid
and ownership documents such as grant and land title have already been issued.
This amount may not be withdrawn until the participant decides to terminate his
participation in MM2H Programme.
MEDICAL REPORT
All applicants and their dependants are required to submit a
medical report from any private hospital or registered clinic in Malaysia.
MEDICAL INSURANCE
Approved participants and their dependants must possess valid
medical insurance coverage that is applicable in Malaysia from any insurance
company.
However, exemptions may be given for participants who face difficulty in
obtaining a medical insurance due to their age or medical condition.
SECURITY BOND
Direct Application only
Applicants applying directly are required to fulfill the security
bond condition. Please refer to Personal
Bond for rate per person
by nationality, ranging from RM200-RM2000.00.
PERSONAL BOND
Application through Agent
Licensed companies are required to provide the personal bond for
their clients who have been approved under the MM2H Program.
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