Many people dream of making Malaysia their second home, but it can be a complicated thing to do. But, the Malaysia MM2H program makes it easier than you might think. It is a comprehensive initiative that offers non-nationals a chance to reside long-term in this vibrant country.
Based on the program’s latest updates, we will show you the various eligibility requirements, visa details, and lifestyle benefits awaiting you and help you navigate the application journey efficiently so you can start your new life in Malaysia.
Key Takeaways
- The Malaysia My Second Home (MM2H) program is a government-supported initiative that allows foreigners to reside in Malaysia without employment. It requires applicants to meet specific financial and medical criteria to ensure they can support themselves and contribute to the economy.
- MM2H offers a renewable visa for up to ten years and involves financial stipulations like a fixed deposit in a Malaysian bank and proof of consistent offshore income.
- Permanent residency under MM2H can be sought after meeting residency requirements. Dependents can be included in the visa, but employment is restricted, with limited exceptions for part-time work for participants over 50.
Understanding the MM2H Program
The Malaysia My Second Home (MM2H) home program aims to attract foreign nationals to live in this beautiful country. Malaysia is considered to be a top-tier living destination for foreigners, offering a second home without the need for employment.
The MM2H home program provides a seamless experience for foreign nationals that includes reduced travel costs, and assistance with visa stamping and opening bank accounts.
However, applicants must satisfy certain financial and medical criteria to qualify. The aim is to ensure that MM2H participants can sustain themselves in Malaysia without needing to seek employment.
Who’s Eligible For The Malaysia MM2H?
Applicants must be at least 35 years old and have the ability to support themselves financially. Applicants below 50 years old must prove they possess a minimum of RM500,000 in liquid assets, while those 50 years and above require RM350,000.
A minimum monthly offshore income of RM40,000 is a requirement for participants in the MM2H program. Essentially, this program is designed to ensure that applicants are financially secure and can support themselves without the need to engage in employment in Malaysia.
Visa Duration and Renewal
The MM2H program visa is valid for up to ten years, giving participants ample time to enjoy their second home in Malaysia. However, some recent applicants have been given a period of five years on their visa, which can be renewed.
Financial Aspects of MM2H
To qualify for the MM2H program, applicants must demonstrate financial stability. This is assessed through a fixed deposit and a consistent offshore income.
Fixed Deposit Requirements
The first financial requirement for the MM2H program is opening a fixed deposit account in a Malaysian bank. If you’re under 50, you’ll need to deposit RM300,000. But if you’re 50 or older, you only need to deposit RM150,000.
To ensure transparency and facilitate the approval of your MM2H application, you’ll need to provide an authorization letter. This letter gives the MM2H Centre permission to verify your financial documents with the relevant institutions.
Offshore Income and Proof
In addition to the fixed deposit, applicants need to prove a consistent and verifiable minimum offshore income of RM10,000 per month. This requirement is crucial as it further ensures that MM2H participants can support their stay in Malaysia without having to seek local employment.
In order to prove this level of income, you will need to provide the last three months’ bank statements or other equivalent financial documents, and the documents must be certified or notarized and in English.
Investing in Residential Properties
One of the perks of the MM2H program is the opportunity to invest in Malaysian residential properties under more favorable conditions than non-MM2H foreigners. The program allows participants to buy residential property at a lower minimum price, such as RM500,000 in Penang, which is half the RM1,000,000 threshold set for non-MM2H foreigners.
Owning property is not a requirement of the MM2H program – it’s actually seen as an optional benefit. It provides participants with an entry point into the Malaysian property market at a lower price point.
Navigating the Application Process
The entire application process typically takes three to six months to complete. The steps include the following:
- Gathering the required documents
- Submitting your application
- Obtaining your conditional approval letter
- Meeting medical insurance requirements
By following these steps, you will be well on your way to obtaining your MM2H visa.
Required Documents
Among the required documents are the following:
- Color copy of your passport
- Six recent passport-sized photographs with a blue background
- Copies of your old passport if you’ve renewed it within the last year
If you are applying with your family, you will also need to provide certified copies of marriage and birth certificates or legal documents pertinent to children, adopted children, stepchildren, or parents.
You will also need a letter detailing your personal background and financial capacity, an MM2H application form, three copies of the IM.12 form for each person applying, and a personal resume.
All documents must be certified as true copies by an embassy, notary public, or authorized government official, and any non-English documents must be accompanied by a proper translation.
Finally, you will need to provide a self-declared medical report and a Letter of Good Conduct.
Conditional Approval Letter
Once you have submitted your documents, you will receive a conditional approval letter. This is essentially a formal document indicating preliminary acceptance into the MM2H program. The letter outlines the further conditions that must be met before you are granted the MM2H visa.
This letter is valid for six months, which is your deadline for fulfilling the rest of your obligations. These include opening the required fixed deposit account in a bank in Malaysia, obtaining a fixed deposit certificate, obtaining comprehensive medical insurance, and completing a medical checkup in Malaysia.
Immigration Department and Medical Insurance
While you may have medical insurance back home, obtaining medical insurance coverage in Malaysia is a mandatory requirement of the MM2H program.
The Immigration Department of Malaysia oversees compliance with this requirement, protecting both the interests of participants and the healthcare system.
Living and Thriving in Malaysia
Malaysia is known for its cultural diversity as it is a melting pot of Malay, Chinese, Indian, and other indigenous groups. Residents enjoy a high quality of life, benefiting from the cultural richness and communal harmony within the nation.
Malaysia is valued for:
- safe environment and political stability
- Beautiful islands, beaches, and heritage sites
- Tropical climate
- affordable cost of living
- Well-established infrastructure
All of these factors make Malaysia an appealing option for those seeking a second home.
Embracing Malaysian Society
One way to make your arrival in Malaysia a lot easier is to learn some basic Malay phrases. Particularly if you will be visiting rural areas where English is not widely spoken, it can be very helpful.
Malaysia’s cultural diversity is reflected in its festivals, with celebrations like:
- Hari Raya Aidilfitri
- Chinese New Year
- Diwali
- Christmas
Food is another significant aspect of Malaysian culture, with ‘mamak stalls’ serving as popular spots for communal dining and conversation.
Additionally, the arts play a substantial role in the vibrancy of Malaysian society, offering numerous opportunities to explore local culture.
Education and Employment Opportunities
For MM2H participants and their dependents, Malaysia offers a wealth of education and employment opportunities. You will have access to educational institutions, enhancing your ability to integrate into society. Dependents, including spouses and unmarried children below 21 years old can pursue education in Malaysia without requiring a separate student visa.
Although this program does not permit employment in a Malaysian company, those over the age of 50 can explore part-time work under certain conditions. This provides a unique opportunity to engage with the local community.
Exploring Malaysia’s Attractions
Malaysia really has something for everyone. From bustling cities to tranquil beaches, Malaysia offers a diverse range of experiences.
Kuala Lumpur is a remarkable city with its dynamic cityscape, while others will find Penang’s rich heritage captivating. For those yearning for a serene setting, Langkawi’s scenic beaches and lush rainforests offer the perfect escape.
Additionally, areas like Johor Bahru, close to Singapore, and cities like Kota Kinabalu and Kuching in Malaysian Borneo offer a mix of urban life, affordability, and nature.
Legal Aspects and Permanent Residency
While the MM2H program has many benefits, you also need to be aware of other prospects, including permanent residency, visas for dependents, and employment restrictions.
For main pass holders and their spouses to be considered for permanent residency status under the MM2H program, they must fulfil a residency condition of living in Malaysia for a minimum of 90 days per year or a cumulative 450 days over a 5-year period.
Permanent Residency Prospects
The MM2H program offers a long-term visa that operates as a multiple-entry social visit pass, allowing participants to come and go as they please. But, this is not the same as permanent residency.
MM2H participants may apply for permanent residency after fulfilling certain conditions over a period under the program, making it a stepping stone to permanent residency.
Visas for Dependents
For those planning to make Malaysia their second home with their family, the MM2H program has provisions for dependents. Participants can include their spouses and children in their visa application.
Dependent children under the MM2H program include those below 21 years of age and unmarried children between 21-34 years of age. The program also allows the inclusion of disabled children of any age and parents or parents-in-law above 60 years of age as dependents.
Employment Restrictions
While the MM2H program offers many benefits, it is important to remember that employment is not allowed. Participants are generally not permitted to work in a Malaysian company. However, participants over the age of 50 may work part-time under certain conditions.
Summary
In conclusion, the Malaysia My Second Home (MM2H) program is a fantastic opportunity for those dreaming of a second home in a tropical paradise. The program offers many benefits, including long-term residency, financial stability, and a high quality of life.
Frequently Asked Questions
Who is eligible for the MM2H program?
Applicants aged 35 and above who can demonstrate financial capability and self-support without local employment are eligible for the MM2H program.
What are the financial requirements of the MM2H program?
To qualify for the MM2H program, you need to open a fixed deposit account in a Malaysian bank and demonstrate a steady offshore income of at least RM10,000 per month.
Can MM2H participants work in Malaysia?
MM2H participants are not allowed to work in Malaysia, except for individuals over 50 who may be eligible for part-time work under specific conditions.
Can MM2H participants apply for permanent residency?
Yes, MM2H participants can apply for permanent residency after meeting specific conditions.
Can family members be included in the MM2H visa application?
Yes, family members such as spouses, children, and parents can be included in the MM2H visa application.
