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...