BENEFITS OF MM2H - MALAYSIA MY SECOND HOME PROGRAMME

1. VISA – 10 years Social Visit Pass & Multiple Re-Entry Visa – Renewal For Life (Subject to validity of your passport) RM90 per year

2. PURCHASE OF HOUSE – Can purchase up to 2 residential houses above RM250K each (Sabah / Sarawak – RM350K) – No need FIC Government Approval.

3. LOAN – Up to 80% (Normal for foreigner is 60%). 100% registered as owner of property. Upon selling – NO Capital Gain Tax.

4. CAR – Can bring in one own car or purchase locally assemble car without the need to pay import duty, excise duty and sales tax. Saving of up to 30%.

5. TAX – Exemption for offshore pension fund remitted to Malaysia.



For further info, terms and conditions, please contact us.

Thank you.

Regards,
Mdm Koo
012-7003302

what are the fees like on MM2H? total admin costs? any other costs? and how long does the whole process take, from start to finish?

REMEMBER......

u can own property without mm2h.

rules 4 owning property is same 4 mm2h and foreigner. so dont b mislead.

if u want 2 stay here in malaysia then go 4 mm2h otherwise no point.

loan - u can get also, no need 2 b on mm2h. 60% IS ONLY GUIDELINE but u can get upto 85% (OCBC).

DISADVANTAGES

cannot work.

cannot work in ure own biz.

ADVANTAGES

10 yr permit. (auto renew).

car incentive.

and thats it.... so if u want 2 stay without work specifically do it but u need 2 put fixed deposit of rm300k or rm150k (over 50) for life of permit but u can take out rm240k after 1 yr for house.

BUT if u want 2 work then i suggest go for work permit from employer or from ure own biz set up in malaysia.

Hi,

May I know what is a proper step for a foreigner purchase malaysia property? Let say the foreigner is not under mm2h and is for investment purpose.

-At KL selangor, what type of property can purchase by foreigner?
(residential, commercial, industry)

-What is the price of property can purchase by individual foreign investor?
(150k to 10mil?)

-Lawyer will help to apply FIC approval?

-Can foreigner rent out their property?

Quick off-the-top-of-my-head answers...

When buying property foreigners do exactly as locals except they need to give notice to the FIC and apply for State Authority consent. Both are typically handled by lawyers. SA consent usually delays things by about a month. This is if they're not on the MM2H. If they're on the MM2H then I don't know the procedure.

Selangor - you can buy anything except bumi-reserved properties.

Foreigners can rent out their property.

I think foreigners can buy property for over RM10m, but they need to get some special consents. I think they might need to get FIC consent. Also, if their loan is over RM10m they may need to get consent from Bank Negara. It's a long time since I last looked.

Hi...

1. In Johor, foreigners are allowed to buy properties RM250K and above from developers. For resell properties, must be RM350K and above, either condo or semi-d. Bungalows - RM500K and above. Commercial properties must be 3-storey and above and above RM500K. Industrial lots at no limit.

2. Foreigners are not allowed to buy Bumiputera Lots, Malay reserved, Low & Medium cost units, auction properties and agricultural land. For bigger parcels of agricultural lands, foreginers are allowed to lease.

3. Before foreigners can buy Johor property, they need the consent of the Johor state government but do not need the FIC approval. Normally the consent will take about 1 month. This will be done by your lawyer. After the approval is out, you will have to pay RM10K to the state government.

4. The properties that you bought, can always be rented out.

Thank you.

Regards,
Mdm Koo

it's a shame you have to bring in the car from your own country. anyone know how long u have to own the car for before you can bring it in?

Andrew, The option 2 bring in your own car from your country of origin is 4 u to decide. But as an alternative measure, you can buy a vehicle in Malaysia, without paying the necessary Taxes, which can add up to 150%. For an example, a purchase of a vehicle in Malaysia, that costs 100k will set u back 50K.
The time frame of purchasing the vehicle is tedious, but worthwhile, conidering the savings. You'll have to get the Vin number of the vehicle,make,model and apply to the respective authorities to approve the purchase. Should not take more than 10 days for the proess to be approved.

you have to own the vehicle for at least 6 months, before approval is given to bring in the vehicle.

Harjit, thanks. owning the car for 6m is a bit of a pain in the neck. i suppose it's only worth doing if the car is expensive.

anyone brought in a car on the MM2H? if so, how long does the whole process take and what's the net cost of it? and anything to look out for. i spoke to someone that told me that he brought in a new bmw 5 series that clapped out because it wasn't tropical or spec. anyone know about this?

BTW thinkproperty is really great. well done to the guys who made this site. i've learned lots from the forums.

Can anyone share their experience on how long a MM2H foreigner takes to obtain State Authority consent? Also, is it limited to only 2 properties? This is with regards to owning a property in the Wilayah State. I have been getting mixed response, some say it delays the purchase by 3 months while others say it takes only between 2-5 weeks.

Jean
I recently bought a place in KL and it took a month and when I bought it my lawyer said it would take less than 2 months. But I'm not on MM2H.
Star

do u mind forwarding a PM to me with regards to the Lawyer you used thanks Aamir

Aamir khan wrote:
do u mind forwarding a PM to me with regards to the Lawyer you used thanks Aamir

ok, i'm sending this to you now...

dbkl - about 1 month

NEW CONDITION LATEST CONFIRMED BY TOURISM DEPT....


Greetings from MM2H Centre and it is nice to be hearing from you again.

With regard to your enquiry, please be informed that:
If you have bought a home costing at least RM1 million and have paid RM300,000 (if below 50 years) or RM150,000 (if aged 50 and above), you may place RM60,000 as Fixed Deposit instead of RM300,00 or RM150,000 for the respective age group mentioned above.
The property must be residential and purchased within five years of applying for the MM2H social visit pass.
You may also accumulate the purchase of more than one property with an aggregate price of RM1 million or above.
The fixed deposit of RM60,000 is to be maintained throughout your stay in Malaysia under this programme.
Do contact us again for any other clarification on MM2H programme.

Kind regards,

Malaysia My Second Home Centre
23rd Floor, Menara Dato Onn
Putra World Trade Centre
45, Jalan Tun Ismail
50695 KUALA LUMPUR
Malaysia.

Tel : 60-3-2696 3353
Fax : 60-3-2698 8533

Ish, thanks VERY much for posting this. Great news.

I hope they do more, but this is a step in the right direction.

NEW CONDITION LATEST CONFIRMED BY TOURISM DEPT....


Greetings from MM2H Centre and it is nice to be hearing from you again.

With regard to your enquiry, please be informed that:
If you have bought a home costing at least RM1 million and have paid RM300,000 (if below 50 years) or RM150,000 (if aged 50 and above), you may place RM60,000 as Fixed Deposit instead of RM300,00 or RM150,000 for the respective age group mentioned above.
The property must be residential and purchased within five years of applying for the MM2H social visit pass.
You may also accumulate the purchase of more than one property with an aggregate price of RM1 million or above.
The fixed deposit of RM60,000 is to be maintained throughout your stay in Malaysia under this programme.
Do contact us again for any other clarification on MM2H programme.

Kind regards,

Malaysia My Second Home Centre
23rd Floor, Menara Dato Onn
Putra World Trade Centre
45, Jalan Tun Ismail
50695 KUALA LUMPUR
Malaysia.

Tel : 60-3-2696 3353
Fax : 60-3-2698 8533

ish, do u know where this is on some website or something? not saying i don't believe u but i just wanna see it written somewhere official.

i read on several forums and so i enquired direct as i have a contact person there. she replied as per my post.

u can do same n get same reply.

Jean Khoo wrote:
Can anyone share their experience on how long a MM2H foreigner takes to obtain State Authority consent? Also, is it limited to only 2 properties? This is with regards to owning a property in the Wilayah State. I have been getting mixed response, some say it delays the purchase by 3 months while others say it takes only between 2-5 weeks.

jean, whether u r on MM2H or not makes no difference. takes about one month.

Guys,

what info is required to get State Authority Consent?

much appreciated.

kindest regards Aamir

Aamir

My lawyer fills the form for me but I think they just ask for property details and some info about yourself. They do sometimes ask some more detailed questions - once they asked me for my annual income and a few other details where I thought they were being a little intrusive.

I think the important thing is that state authority consent is VERY rarely declined.

Asim

Salaams Asim,

Site is looking excellent.

Thanks for the Info.

Currently in two minds - i.e. MM2H programme or get a local JOB and get Visa - as teh specific issue of not being able to work on the MM2H programme is kind of restrictive to say the least.

kindest regards Aamir

Salaams Aamir

Thanks for the kind words.

MM2H will probably be too restrictive. You could set up your own business and get a work permit for it, or just apply for a job with another company. Getting a job with a work permit would only likely be possible if you go for a relatively senior position.

Asim

ish, how long will it take to get MM2H? is there any way of speeding it all up?

andrew page

thank you for your question/query. please read below for my reply.

MM2H guidelines stipulate a commitment that you will receive a prompt response in 10-12 wks from the date of application made. this process cannot be hastened. also do bear in mind that the response you get could be a conditional approval or rejection letter or further request for information.

however once approval is given the speed at which the permit is processed is dependent on applicant being present here in malaysia and thus sorting out FD, bank account, TT monies, medical report, medical insurance. if all these tasks are performed reasonably quickly then immigration will only take another few hours. all this can be done in a few days or slightly longer if bank has not processed your account. but ideally you should open an account with the bank before you come to malaysia. if you are a HSBC customer abroad you can open an account from your home country otherwise opening an account locally can take a few days.

my local partner and i are in the process of being the official agent for MM2H permits. i can assure you that we will endeavour to be efficient and most importantly effective in the whole process so that our clients are completely satisfied.

our comprehensive services are listed below for all expats applying for the MM2H permit and/or other expat services.

Insurance – Medical, property, motor, life, marine etc
Medical tourism
Freight forwarding
Property investment
Property sales/rental
Business consultancy
Work permits
Company registration
JPJ services (driving licence, car reg etc)
Children’s school advice
Maid services
Foreign exchange (TT your FD)
Travel and tours

The company comes along with a wealth of experience and a team of dedicated professionals at its helm to drive quality and deliver fantastic customer service to all our valued customers and external partners.

We consider Malaysia as one of the most promising countries of the world, and therefore, concentrate efforts on developing convenient tools for the promotion of Malaysia as a whole. Also through developing a wide network of affiliated tourism operators in both sides of the globe, we will eventually offer excellent tour packages, including culture tours, adventures and outdoor activities in Malaysia.

Our company builds upon the principle "Service above self" and is keen to provide satisfying service to all of its customers.

ismail mussa
non-executive director; MY EXPAT (MM2H) SDN BHD

Ish Lam

What have been the recent changes? And what is the feedback of people who apply? Is it a smooth process? I've heard they are very strict on the car

Thanks

hi farin fay

it has been a while since i posted any comments but here goes.....

yes we did finally get out [color=#800080]MM2H license[/color] (MM2H0282) end of last year. since then we have been very busy assisting many clients who have been wanting to reside here in malaysia under the MM2H program. we are also a licensed [color=#800080]INBOUND Travel agent[/color] and members of [color=#800080]MATTA[/color] (MA3280). so we are also do bookings for hotels/flights/tours/airport transfers etc for the whole of malaysia and beyond.

many new changes this year.... below are the main points.

1. MM2H permit holders over 50 yrs old can [color=#008000]WORK[/color] up to 20 hrs a week but need work permit through employer and only in specific industries.

2. MM2H holders can now [color=#008000]WORK in their own business[/color] but conditions are as usual with foreigners owning max 70% share only. but can own 100% with prior application for pioneer status etc or having a foreign office etc. rules are the same as opening a general business in malaysia.

3. unmarried [color=#008000]children up to age 21[/color] can be under the same permit as parents.

4. [color=#008000]parents [/color]of main applicant over 60 yrs of age can be under same permit.

5. [color=#008000]foreign spouses of Malaysian nationals[/color] are eligible to apply for MM2H.

6. [color=#008000]Employment Pass holders[/color] who wish to participate in the MM2H programme are exempted from the “cooling off period” on the condition that their application to participate in MM2H programme is submitted 3 months before the expiry of the Employment Pass.

7. [color=#008000]ID-Cards[/color] will be issued to MM2H participants with permanent address in Malaysia. it was initially for only the main applicant but now all dependents get an I-KAD too.

8. All MM2H applicants can go to the [color=#008000]new Immigration office at PWTC[/color]. so no need to go to putrajaya.

9. lastly, MM2H applications can be made directly BUT will need to pay a [color=#008000]security bond[/color] depending on which country you are from. My advice is to go with an agent who guarantees the applicant and provides a personal bond on their behalf so no bond needs to be paid only the agent fees. [color=#008000]MyExpatMM2H Sdn Bhd's FEES[/color] are so low that it will actually be cheaper to go through them than pay the security bond. btw that is my company but dont take my word for it check our website.... it is the most comprehensive MM2H website and with the [color=#008000]lowest published fees[/color].


[color=#FF0000]www.MyExpatMM2H.com[/color][size=4][/size]

i am a british expat living in malaysia for 2 yrs under the MM2H program and here to be of assistance...... a file is attached here about our MM2H agency...

ish lam

sorry farin re: your post

the procedure for importing or buying a local is the same as before. application is much faster with 4 wks response and applicants are very happy with our services.

one more important point i missed out:

FD requirement remains the same BUT over 50 yr olds can only take out R50,000 after a year for property etc and under 50 yr olds can only take out R150,000 after a year!!!! so they have tightened the FD ruling.

ish lam