 |
|
 |
| |
 Participants of the Malaysia My Second Home Programme are provided with various incentives:
Each participant is allowed to purchase residential houses at minimum prices of RM250,000 each, depending on the location of the property. Generally the minimum price for the purchase of houses in Malaysia are as follows:
-
Above RM350,000 each for certain areas in the state of Sarawak (Kuching, Miri)
- Above RM250,000 each for other states
Quick comment: Foreigners are able to purchase as many properties as they wish, subject to their exceeding the minimum purchase price criteria, independent of whether they are on the Malaysia My Second Home Programme or not.
Car Purchase
Each participant is allowed to bring in their own personal car or to purchase a locally-assembled car without paying import duty, excise duty and sales tax.
Note: -
'Personal Car' refers to a car which was purchased by the participant before joining the MM2H programme.- Applications for tax exemption must be submitted to the Ministry of Finance within 6 months of the date of endorsement of the Malaysia My Second Home sticker in the passport.- Participants are only allowed to sell their imported/locally-purchased car after 3 years' stay on the programme.
- The processing and approval of the Approved Permit will take 7 working days from the date of submission (if documents are complete).
Quick tip: This is a great incentive. But it can be difficult and expensive to import your own car - there's also a lot of hassle involved. It can be easier and more cost effective just to buy a locally-assembled car - Toyota, Honda, BMW, Mercedes, and Volvo all assemble some of their models in Malaysia.
Each applicant is allowed to apply for one maid subject to the prevailing guidelines of the Immigration Department of Malaysia.
Education
Applicants are allowed to bring their children who are under 18 years old and not married as their dependants under this programme. Children who intend to continue their schooling in Malaysia are required to apply for a Student Pass and should be insured throughout their stay under this programme.
Tax
Participants are bound by the policies, systems and regulations of taxes of Malaysia and they do not have exemption qualifications as granted to Diplomatic Missions in Malaysia. However, tax exemption is given to pensions remitted into Malaysia. Participants are required to obtain the endorsement of the authorities in their country of origin as to the total amount of yearly pension received. A copy of this letter has to be submitted with their application.
 |
|
|
 |
|
 |
|
Show/hide comment form
