Malaysia My Second Home programme is an initiative of the Government of Malaysia, which accords people from all over the world (except for Israel & North Korea) who fulfill certain criteria to stay in Malaysia for duration of 5,10,15 and 20 years under a social visit pass with a multiple entry visa.
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The scheme is open to citizens of countries recognized by Malaysia, regardless of race, religion, gender or age. The scheme allows applicants to bring their spouse, parents and children. Foreign spouses of Malaysian citizens and foreigners can apply for this scheme to retire in Malaysia after their work visa expires.
Applicants can bring their spouse, unmarried children under the age of 35, and parents and parents-in-law over the age of 50.
WHY CHOOSE MALAYSIA ?
This program is advocated, planned and implemented by the Malaysian government. Therefore, the government will continue to develop this program to ensure its success.
Malay is the official language and English is the second language. However, other languages can be used freely. Since Malays make up the majority, Malay culture naturally becomes the main culture of our country, but the cultures of other ethnic groups can still coexist. The cultures of various ethnic groups are even freely integrated.
Malaysia has many recreational spots suitable for the whole family, such as theme parks, forest trails, leisure sports and water sports. It is also a country with the most golf courses.
Financial Requirements
Applicants must have sufficient financial capacity to support themselves during their stay in Malaysia.
Applicants do not need to prove how much liquid assets they have, nor do they need to prove that they have overseas income.
Applicants are exempt from income tax on overseas income.
If you already own RM1,000,000 in real estate in Malaysia, you are exempt from purchasing a new house, which applies to those you own before applying.
When the application is approved
Upon receiving the “Conditional Approval Letter” from the Malaysian Immigration Department, successful applicants must meet the following financial conditions.
A fixed deposit account of USD65,000 must be opened.
After one year, up to USD32,500 can be withdrawn for the purchase of a house and a car, as well as for children’s education and medical expenses in Malaysia.
From the second year until the end of participation in this plan, a minimum of USD32,500 must be kept.
Successful applicants must purchase a property worth RM500,000 or more within one year and have obtained the title deed and land ownership documents. Applicants cannot sell the property for at least 10 years unless they intend to terminate their participation in the Malaysia My Second Home program.
A fixed deposit account of USD32,000 must be opened
After one year, up to USD16,00 can be withdrawn for the purchase of a house and a car, as well as for children’s education and medical expenses in Malaysia.
From the second year until the end of participation in this plan, a minimum of USD32,000 must be kept.
Successful applicants must purchase a property worth RM500,000 or more within one year and have obtained the title deed and land ownership documents. Applicants cannot sell the property for at least 10 years unless they intend to terminate their participation in the Malaysia My Second Home program.