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How to Apply for Malaysia My Second Home Programme? What Are the Advantages?

Malaysia has long been a popular immigration destination for many Asians. Since the Malaysian government launched the "Malaysia My Second Home" (MM2H) program, an increasing number of people have chosen to settle in Malaysia through this program. In recent years, the number of applications for this program has been steadily increasing.

So, what are the advantages of the "Malaysia My Second Home" program? And how do you apply?

What is the Malaysia My Second Home (MM2H) program?

Malaysia's "My Second Home" (MM2H) program is a policy launched by the Malaysian government to attract foreign investment and promote tourism and economic development. Since its implementation, the program has attracted a large number of foreigners to settle in Malaysia due to its low threshold, simple application process, and preferential treatment. It has also opened up new channels for Malaysia to attract foreign investment and become a major highlight of the country's tourism industry.

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1. Origin

Originally launched in 1996 by the Malaysian Ministry of Tourism as the "Silver Hair Program," this scheme was designed to encourage foreign retirees to reside in Malaysia for an extended period. As its effectiveness became apparent, in 2002, the government renamed it the "Malaysia My Second Home (MM2H) Program," expanding its eligibility beyond retirees to include foreigners aged 21 and above.

2. Development

Due to the successful implementation of the program, Malaysia has attracted increasing foreign investment and talent, becoming a popular destination for foreign immigrants.

3. Main population group

China has consistently ranked among the top ten in terms of applicants, especially those from colder climate regions such as coastal provinces and the three northeastern provinces. In addition, there are also a significant number of applicants from countries and regions such as Bangladesh, the United Kingdom, Japan, and Singapore.

Note: Data is from Baidu Encyclopedia.

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② What are the advantages of the "Second Home" program?

So what makes so many people choose to apply for the Malaysia My Second Home (MM2H) program?

1. Advantages of relocating to Malaysia

Firstly, it lies in Malaysia's own national advantages:

① Advantages of the education system

Malaysia has adopted the education system of Commonwealth countries, offering public, private, and various international schools. Diplomas at all levels are recognized by countries in Europe, America, and Australia. Tuition fees are relatively low, about a quarter of those in the UK, making it ideal for families who want their children to receive a Western education but have limited financial resources.

② Housing price advantage

Malaysia offers relatively affordable real estate, providing not only various types of ordinary housing but also high-end residences built along the coast, in forests, and in industrial parks. Property prices are rising steadily, making it a very desirable place to live.

③ Tourism resource advantages

Malaysia boasts abundant natural resources, such as vast beaches, tropical rainforests, and rare flora and fauna. In addition, it has numerous caves, traditional folk customs, and golf courses, all of which are important factors in attracting tourists.

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2. Advantages of the "Second Home" Program

Secondly, here are some unique advantages offered by the "My Second Home" program:

  1. Those who hold a residence permit can freely enter and
    exit Malaysia without being restricted by the length of their stay, and enjoy the right to long-term residence.

  2. Children under the age of 21 who are applicants for quality education resources
    can apply together with their parents and enjoy Malaysia's quality education resources.

  3. Holders of tax-advantaged
    residence permits will enjoy tax exemption on personal income derived from abroad.

  4. Holders of the preferential residence permit for car purchase
    can bring one private car into Malaysia or purchase a local car, and are exempt from import tax, local consumption tax and sales tax.

  5. Real estate investment
    applicants can directly invest in Malaysian real estate and have the opportunity to obtain freehold titles without approval from the Foreign Investment Commission (FIC). Furthermore, proceeds from the resale of real estate are exempt from value-added tax (VAT).

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③ How to apply for "My Second Home"?

Applying for the Malaysia My Second Home (MM2H) program requires preparing specific documents depending on the stage:

1. Document preparation before application

  1. The main applicant must be between 35 and 65 years old;

  2. The main applicant has a fixed monthly offshore income of RM40,000 or more;

  3. Applicants may apply for their spouse, children under 21 years of age, parents over 60 years of age, or parents-in-law as secondary applicants;

  4. Proof of funds: Domestic fixed deposits must reach RM1.5 million or more;

  5. A certificate of no criminal record is required (applicable to the main applicant and all family members aged 21 and above).

  6. Other supporting documents required for the secondary applicant, such as marriage certificate, birth certificate, etc.

    2. After the application is approved

  7. The main applicant must have RM1 million in a fixed deposit account in Malaysia;

  8. If there are dependent applicants, each dependent applicant needs to deposit an additional RM50,000;

  9. After the second year, the RM500,000 in Malaysian fixed deposits can be unfrozen.

  10. The maximum validity period for a residence visa is 5 years, and it can be extended upon expiration.

    3. Related Fees

  11. Immigration fees, visa application fees, medical insurance fees, and other related expenses.

    4. Other requirements

  12. You must reside in Malaysia for at least 90 days each year;

  13. The visa needs to be renewed upon expiration, and updated supporting documents may be required.

  14. The review period is approximately 90 business days.

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