Formal requirements
In Malaysia, we have a programme named as MM2H Malaysia My Second Home launched by the Malaysian government and managed by the Ministry of Tourism and Culture (MOTAC) to attract overseas retirees and work expats looking to make Malaysia their second home.
It is eligible to every foreign individual from sovereign countries with diplomatic relations with Malaysia.
The applicant must be minimum 25 years of age as a principal.
Economic requirements:
It is a three-tiered system with specific fixed deposit requirements – Platinum tier (USD1,000,000), Gold tier (USD500,000), and Silver tier (USD150,000). Previously, all participants were required to have a minimum fixed deposit of RM1,000,000.
The Participation Fee (One-Off) for Platinum tier (Ringgit Malaysia) RM200,000 for principal, Gold tier RM3,000 for principal, and Silver tier RM1,000. for principal.
The Renewal Fee for Platinum tier RM1,500 for principal and dependents, Gold tier RM3,000 for principal and dependents, and Silver tier RM5,000 for principal and dependents.
Purchase of Residential Property
*Purchase of property is mandatory. Not allowed to sell the said property for 10 years unless to upgrade to a more expensive property.
Silver Tier: Property value must be at least RM600,000
Gold Tier: Property value must be at least RM1,000,000
Platinum Tier: Property value must be at least RM2,000,000
Other investment opportunities
Minimum stay requirements: At least 90 days cumulatively in a year
Business / Work Allowed:
Silver Tier: Not allowed to work / invest in business. To apply for relevant passes.
Gold Tier: Not allowed to work / invest in business. To apply for relevant passes
Platinum Tier: Allowed to work and invest in businesses
The applicant can incorporate a Private Limited company in Malaysia as own investment.
Ability to bring in family
Spouse, Children (biological, step and adopted children) below 21 years of age; Children with disabilities (no age limit), Children aged between 21 to 34 who are not working or married in Malaysia, and Parents and/or parents-in-law. They fall under the category of the Dependents.
Duration
The duration of the MM2H pass is maintained at five years for the Silver tier and increased to
15 years for the Gold tier, and 20 years for the Platinum tier.
Language requirements
Not applicable.
Tax implications or related issues
Tax exemption on incoming funds such as FD.
Other benefits/considerations
Education, Medical Treatment, Business Investment and Career Opportunity, Medical
Checkup.
Special Category
Special Economic Zones and Special Financial Zones will be made available.
Document link for further information.
https://www.motac.gov.my/perkhidmatan/permohonan-lesen/agensi-pelancongan/category/144-mm2h