| Terms
& Conditions |
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Financial
Requirement |
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(updated:17
April 2006) |
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Successful
applicants (after 1 April, 2006) are required to comply with
the following financial criteria upon receipt of the 'conditional
approval': |
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i) |
Aged
Below 50 years old |
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Opened
a fixed deposit account of RM300,000.00 |
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After
a period of one year, the participant can withdraw |
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up
to
RM240,000.00 for
approved expenses relating to house purchase, education for
children in Malaysia and medical purposes. |
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Must
maintain a minimum balance of RM60,000 from
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second
year
onwards and throughout
stay in Malaysia under this programme. |
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ii) |
Aged
50 years and above |
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Can
either choose to: |
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Opened a fixed deposit account of RM150,000.00 OR |
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Show proof of monthly off-shore income of RM10,000.00 or from
approved/recognized institution in the country of origin such
as pension scheme. |
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After
a period of one year, participant who fulfills the |
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fixed
deposit criteria
can withdraw up to RM90,000.00 for approved expenses relating
to house purchase, education for children in Malaysia and
medical purposes. |
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Participant
must maintain a minimum balance of |
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RM60,000.00
from
second year onwards and throughout stay in Malaysia under
this programme. |
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Note
: Successful
applicants need to open their fixed deposits in Ringgit Malaysia
(RM). |
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EXISTING
PARTICIPANTS (JOINED BEFORE 1 APRIL, 2006) |
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Existing
participants
will not be subjected to the new financial requirements
when they next renewed their stay in Malaysia under this
programme. However, the approvals of the renewal are subjected
to the fulfillment of the condition required by the Government
of Malaysia.
Participants
who complied with the earlier fixed deposit criteria are
allowed to withdraw their fixed deposit as follows after
a one year stay in Malaysia:
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i) |
Single
Participant with fixed deposit of RM100,000.00 |
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Can
withdraw up to RM40,000.00 for the purchase of house |
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education
for children in Malaysia and medical purposes. |
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Must
maintain a minimum balance of RM60,000.00 from |
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second
year onwards
and throughout stay in Malaysia under this programme. |
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ii) |
Participant
with spouse with fixed deposit of RM150,000.00 |
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Can
withdraw up to RM90,000.00 for approved
expenses |
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relating
to house purchase,
education for children in Malaysia and medical purposes. |
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Must
maintain a minimum balance of RM60,000.00 from |
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second
year onwards
and throughout stay in Malaysia under this programme. |
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Note:
Participants under this programme (both new and existing)
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. |
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Medical
Report |
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Applicants
are required to submit a medical report from any public or
private hospital in Malaysia. |
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Medical
Insurance |
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Approved
participants and dependents must possess a valid medical
insurance policy from any insurance company that is applicable
in Malaysia.
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Incentives |
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Participants
of Malaysia My Second Home Programme are provided with various
incentive s to make their stay even more comfortable and
enjoyable in Malaysia. The incentives provided are as follows:
House
Purchase
Each
participant is allowed to purchase residential
houses at a minimum prices of RM250,000 and above
each, depending on the location of the property.
Generally
the minimum price for the purchase of houses in Malaysia
are as follows:
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1)
RM250,000 and above for other states |
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3)
RM350,000 and above each for certain areas in Sarawak |
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Car
Purchase
Each
participant is allowed to bring in his/her own car (used)
OR to purchase a locally-assembled car without the need
to pay import duty, excise duty and sales tax.
However,participants
must apply for prior approval within the time period given
to the Ministry Of Finance and Ministry of International
Trade and Industry before bringing in car from country residence
or buying the locally-assembled car in Malaysia.Interested
applicant kindly contact: gilvin@hotmail.com
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Education
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Applicants
are allowed to bring their children who |
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under
18 years old and not married as their dependants under this
programme.
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Dependants who intend to continue their schooling in |
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Malaysia
are required to apply for a Student pass.
Please
refer to the Ministry of Higher Education Malaysia's website
: www.mohe.gov.my for a complete list of all private institutions
of learning in this country
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Taxes
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Participants
are bound by the policies, systems and regulations of taxes
of this country and they do not have exemption qualifications
as granted to Diplomatic Missions in Malaysia.
However,
tax exemption is given to pension remitted into Malaysia.
Participants are required to obtain the endorsement from
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 in their application for tax exemption.
Please
refer to Inland Revenue Board Malaysia, website: www.hasil.org.my
for the tax system
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Fees
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A payment
of RM90.00 per year is charged for the issuance of a Social
Visit Pass under the "Malaysia My Second Home Programme".
Applicants from certain countries will be required to pay
for the issurance of Multiple Entry Visa ranging from RM15
to RM100 peryear.
Visa
fee is chargeable according to the existing rate applicable
to each country. Please refer to Immigration Department
of Malaysia (www.imi.gov.my) for a listing of the visa fee
chargeable according to country of origin.
Note
that A.G Solution's professional fee exclude all these fees
mentioned above.
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Application
Procedures |
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New
Applications |
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All
applicants who wish to apply to stay in Malaysia under Malaysia
My Second Home Programme must submit the following documents:
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1) |
Letter of Application |
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Two (2) copies of Form IM.12 (Social Visit Pass Form) |
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Two (2) passport-sized photographs |
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A certified copy of Passport / travel document (all pages) |
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5)
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A
certified copy of a Marriage Certificate (if accompanied by
spouse) |
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6) |
A certified copy of birth certificate (if accompanied by Children) |
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7)
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A
certified copy of latest bank statement /other |
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related
finacial document to indicate the financial capability to
support stay in Malaysia |
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8) |
A
certified copy of Monthly Income Proof |
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Fixed
Deposit |
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The
following documents are required for the opening of FD Account:
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Identity
Card/Passport (for Individual) |
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Application Form for Opening of Fixed Deposit Account |
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Specimen Signatures |
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Conditional
Approval from Immigration Department |
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Customer's
Declaration to confirm the following: To |
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authorize
the Bank to confirm the existence of the FD when required
by the relevant Government authorities. Any Other Relevant
Registration Documents that may be deemed necessary
Maximum
period on FD is (5) years renewable subject to the extension
of the Social Pass Visit issued by the Immigration Department
upon expiry. Interest earned on the FD can be withdrawn
by participant excluding principal amount before the one-year
period.
Emergency
withdrawal of FD is allowed subject to prior approval by
Immigration Department without affecting stay in Malaysia
under Malaysia My Second Home Programme. FD can be withdrawn
anytime if the participant wishes to terminate his stay
in Malaysia with notification to Ministry of Tourism. Ministry
of Tourism will issue a letter confirming participant intent
to terminate stay under this programme.
* Any
interest earned on premature FD withdrawal is subject to
the participating bank discretion.
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Restrictions |
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Under Malaysia My Second Home Programme, seeking of
Employment is not allowed. However, Successful Applicants
can invest in Business in Malaysia and be a Director of
His/her company.
In addition,
they should not participate in activities that can be considered
as sensitive to the local people and a threat to the security
of the country; for example in political activities, missionary
activities and provocative or instigative activities.
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Incentives
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House
Purchase |
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Each
participant under this programme is allowed to purchase
residential houses valued at more than RM250,
000.00 depending on the location.
Please
note that the ceiling for houses in certain areas of
Sarawak has been set up at RM 350,000.00.
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Car
Purchase |
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A participant
can choose to either import one car which belongs to him
personally from his country of residence subject to approved
permit (AP), which is exempted from payment of import duty,
excise duty and sales tax (within 6 month from the endorsement
date of MM2H pass) OR purchase one locally made car in Malaysia
which is exempted from payment of excise duty and sales
tax (within 1 year period from the endorsement date of MM2H
pass).Interested applicant kindly contact: gilvin@hotmail.com
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Domestic
Helpers |
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Each
applicant is allowed to apply for one maid subject to the
prevailing guidelines of the Immigration Department of Malaysia. |
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Approval
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Under
normal circumstances, all applications that fulfil the criteria
should be processed and approved within 30 working days after
submission of the application. |
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Extensions
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Extension
- Change of Passport |
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This
applies to those who did not receive the full duration of
the 10-year Visa because of the short validity period of
their passport at the time of approval and would like to
receive the remaining period upon the issuance of a new
passport.
The
applicant must appear in person at the Immigration Department
of Malaysia and is required to bring the following documents
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Old
and New Passport |
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Photocopy
of the New Passport |
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IM.12
Form |
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Payment
of RM 90 per year for the Visa, payable to the Immigration
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Department
of Malaysia |
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*
The above process applies for those that did not receive the
full duration of the 10 years Visa because of short validity
period of their passport at the time of approval and would
like to receive the remaining period upon the issuance of
a new passport. |
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Extension
- After 10 years period |
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The
applicants must be present in person at the Immigration
Department of Malaysia and is required to bring the following
documents:
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Letter
of intent to continue stay in Malaysia under this Programme
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Passport
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Photocopy
of Passport |
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IM.55
Form |
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Payment
of RM 90 per year for the Visa, payable to the Immigration
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Department
of Malaysia
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Termination
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The
applicant should forward the following documents to the Malaysia
My Second Home Centre: |
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Letter
of intent to terminate stay in Malaysia under this Programme
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Passport
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Photocopy
of Passport |