 The Malaysia My Second Home Programme ("MM2H") is open to all citizens of countries recognized by Malaysia regardless of race, religion, gender or age. Applicants are allowed to bring along their spouse and children as dependents (unmarried children aged 21 years and below, step-children, disabled children and parents). Age limit of unmarried dependent children is raised from 18 years to 21 years. A declaration stating that the child is unmarried and all expenses during the stay in Malaysia will be borne by the principal participant of the MM2H program is required. Foreign spouses of Malaysian nationals are eligible to apply for MM2H, subject to the terms and conditions of the MM2H programme. Alternatively, they have the option to apply for the Spouse Programme.
Financial Requirements
Successful applicants are required to comply with the following financial criteria upon receipt of the conditional approval letter from the Malaysian Immigration Department:
1. Aged Below 50 years -
Open a fixed deposit account of RM300,000.
- After a period of one year, the participant can withdraw up to RM240,000 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
- The participant must maintain a minimum balance of RM60,000 from the second year onwards and throughout their stay in Malaysia under this programme.
2. Aged 50 years and above
Can either choose to:
-
Open a fixed deposit account of RM150,000 ; or
- Show proof of monthly offshore income of RM10,000, such as pension scheme.Only applicants who are drawing from Government Approved Funds can be considered for the monthly offshore Income criteria. The definition of such approved funds is very narrow. Thus very few applicants manage to qualify under the monthly offshore income criteria.
After a period of one year, participants who fulfil the fixed deposit criteria can withdraw up to RM90,000 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
The participant must maintain a minimum balance of RM60,000 from the second year onwards and throughout their stay in Malaysia under this programme.
Effective 1 July 2008, new applicants who have purchased and owned residential property which were bought at RM1 million and above in Malaysia are eligible to apply for exemption from placing the full FD amount required of MM2H participants. They only have to comply with the basic financial requirement of FD or RM 60,000. This amount may not be withdrawn until the participants decide to terminate their participation in MM2H programme
Note
- Successful applicants need to open their fixed deposits in Ringgit Malaysia (RM) only.
- Participants need to obtain prior approval from the Ministry of Tourism before proceeding to withdraw the fixed deposit
- 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.
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.
Medical Insurance
Approved participants and dependents (spouse and children) must possess a valid medical insurance policy which is applicable in Malaysia.
Restrictions
Qualified MM2H participants aged 50 and above with specialised skills and expertise that are required in the critical sectors of the economy, are allowed to work not more than 20 hours per week.
The approval to work part-time is subject to the following conditions:
- the application is approved by the MM2H Special Committee;
- the work contract needs to state that the MM2H participant is working part time and to attach the work schedule; and
- total number of hours of week does not exceed 20 hours.
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