Guidelines for Homebuyers
Sale and Purchase of Houses
Withdrawal EPF to Purchase a House
Difference Between Leasehold and Freehold Tenures
Mortgage Reducing Term Assurance (MRTA)
Malaysia My Second Home Programme (MM2H)
About Penang
MALAYSIA MY SECOND HOME PROGRAMME

Source: Malaysia My Second Home


Introduction

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 recognised by Malaysia regardless of race, religion, gender or age. Applicants are allowed to bring their spouses and unmarried children below the age of 18 as dependants.


Foreigners who are married to Malaysians are not eligible for MM2H programme but may apply to stay in Malaysia under the Immigration Department's "Spouse Programme" with a Long Term Social Visit Pass. Please refer to website http://www.imi.gov.my for more information.

House Purchase:

Each participant is allowed to purchase residential houses at price above RM250,000, depending on the location of the property.


Generally the minimum price for the purchase of houses in Malaysia are as follows:

1. Above RM300,000 per unit for certain areas in the state of Sarawak (Kuching, Miri).

2. Above RM250,000 per unit for other states.


Related Documents:

Acquisition of Properties

Bringing in Personal Belongings

Financial Requirement

Successful applicants required to comply with the following financial criteria upon receipt of the "conditional approval letter" from Malaysia Immigration Department.


Applicants are expected to be financially capable of supporting themselves for ten years on this programme in Malaysia, without the need to work in the country. Besides fulfilling the basic financial criteria of Fixed Deposit placement of RM150,000 (for those aged 50 and above) or RM 300,000 (for those aged below 50), applicants should furnish documentation on their financial position to strengthen their application.


1. 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 RM240,000.00 for

approved expenses relating to house purchase, education for children in Malaysia and medical purposes.

Must maintain a minimum balance of RM60,000.00 from second year onwards and

throughout stay in Malaysia under this programme.


2. Aged 50 years and above

Can either choose to:

- Open a fixed deposit account of RM150,000.00 ; OR

- Show proof of monthly off-shore income of RM10,000.00 such as pension scheme.

Only applicants who are drawing from Government Approved Funds can be

considered for the " Monthly off - Shore Income " criteria.

After a period of one year, participant who fulfills the fixed deposit criteria can withdraw

up to RM90,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.

Participant must maintain a minimum balance of RM60,000.00 from the second year

onwards and throughout his/her stay in Malaysia under this programme.


Notes:

1. Successful applicants need to open their fixed deposits in Ringgit Malaysia (RM) only.

2. Participants need to obtain from approval from Ministry of Tourism before proceeding to

withdraw the fixed deposit

3 Participants under this programme may withdraw their entire fixed deposit anytime should

they decide to terminate their stay in Malaysia under this programme. However, they must obtain prior approval from the Ministry of Tourism


Restrictions:

1. Participants under Malaysia My Second Home Programme are not allowed to work/be

employed while staying in Malaysia.

2. In addition, they should not participate in activities that can be considered as sensitive to

the local people and a threat to the security of the country.

Medical Information

1. Medical Report

All applicants and their dependents (spouse and children) are required to submit a

medical report from any private hospital / registered clinic in Malaysia.


2. Medical Insurance

Approved participants and dependents (spouse and children) must possess a valid

medical insurance policy which is applicable in Malaysia.

How to Apply

Effective 1 June 2007, all MM2H applications are to be submitted through licensed MM2H agents only. No individual applications nor third party applications will be entertained.

Click here to view for a list of licensed MM2H agents.

For more information, please refer to MM2H Programme.

Contact Information

Malaysia My Second Home Centre
Ministry of Tourism Malaysia,
Level 23, Menara Dato' Onn,
Putra World Trade Centre,
45 Jalan Tun Ismail
50695 Kuala Lumpur
Tel: 603.2696.3367
Fax: 603.2698.8533
E-mail: info@mm2h.gov.my
Website: http://www.mm2h.gov.my


Headquarters of the Department of Immigration, Malaysia
(Ministry of Home Affairs)
Level 1-7 (Podium) Block 2G4, Precint 2,
Federal Government Administration Centre,
62550 Putrajaya, Federal Territory
Tel: 603.8880.1408
Fax: 603.8880.1374
Website: http://www.imi.gov.my

Note: Dream House Properties takes no responsibilities for any mistakes made above and does not

guarantee the accuracy of the information provided.