MM2H

The Malaysia My Second Home (MM2H) program was introduced in 2002 to attract foreigners to live in Malaysia long-term. It allows applicants to stay in the country for up to 10 years, with an option to renew. Initially, the program had relatively low financial requirements, but in 2021, stricter criteria were implemented, including higher income and deposit thresholds. MM2H now also offers tiered packages, such as Platinum and Gold, aimed at wealthier individuals. The program is popular among expatriates, retirees, and investors, contributing significantly to Malaysia’s economy.

What is MM2H?
What document needed to apply MM2H?
What is the requirement?
Should we apply MM2H?
What is the package?

1. What is mm2h

MM2H, or Malaysia My Second Home, is a long-term visa program designed to attract foreigners to live and invest in Malaysia. Under MM2H, participants receive a renewable multiple-entry visa for up to 10 years, allowing them to stay in Malaysia with certain privileges. Applicants must meet financial requirements, such as showing proof of income and liquid assets, and can enjoy benefits like tax exemptions for bringing in personal items, the ability to purchase property, and access to local education and healthcare services. The program targets retirees, investors, and expatriates seeking to reside in Malaysia either part-time or full-time.

2. What is the document to apply mm2h

To apply for the Malaysia My Second Home (MM2H) program, you typically need to submit the following documents:

Application Form – Completed and signed MM2H application form.
Cover Letter – A personal cover letter explaining why you want to join MM2H.
Passport Copy – Certified true copies of all pages of your passport.
Passport-Sized Photos – Recent passport-sized photographs (usually 4-6 copies).
Personal Bond Form – To be signed by a Malaysian sponsor (if applicable).
Letter of Good Conduct – Issued by your home country’s police department.
Medical Report – A medical examination report from a registered clinic or hospital.
Bank Statements – Proof of financial capability:
- Liquid assets statement (e.g., bank savings, fixed deposits).
- Income statement (monthly pension or salary).
Proof of Income – Documentation showing regular income (e.g., salary slip, pension statement).
Fixed Deposit Certificate – (After conditional approval): Proof of fixed deposit placement in a Malaysian bank (if required).
Other Supporting Documents – Proof of relationship for dependents (e.g., birth/marriage certificates) if they are applying under your application.

Additional documents may be required depending on specific circumstances. Always check with an official MM2H agent or the Ministry of Tourism, Arts and Culture Malaysia for the latest requirements.

3. what is the requirement to apply mm2h

The Malaysia My Second Home (MM2H) program is open to individuals from any country who meet the following qualifications:

Age:
- Applicants can be of any age, but there are different financial requirements depending on the age category:
  - Below 50 years old: Higher financial requirements apply.
  - 50 years and above: Lower financial requirements, and retirees may have different income criteria.
Financial Requirements:
- Below 50 years old:
  - Liquid assets: Minimum MYR 500,000.
  - Monthly income: Minimum MYR 10,000 from a foreign source.
- 50 years and above:
  - Liquid assets: Minimum MYR 350,000.
  - Monthly income: Minimum MYR 10,000 from a foreign source, or retirees must show proof of receiving a pension or income from investments.
Fixed Deposit Requirement (after conditional approval):
- Below 50 years old: Required to place a fixed deposit of MYR 300,000 in a Malaysian bank.
- 50 years and above: Required to place a fixed deposit of MYR 150,000.
- After one year, part of the fixed deposit can be withdrawn for approved expenses like buying property or children’s education.
Good Health:
- Applicants must submit a medical report and be free from any serious health conditions.
Good Conduct:
- Must provide a police clearance certificate showing no criminal record.
Valid Insurance:
- Applicants must have valid medical insurance coverage in Malaysia, though this requirement can be waived for older applicants if they cannot obtain insurance due to age or pre-existing conditions.

*These are general requirements, and specific details may vary depending on the latest MM2H policies or individual circumstances.

4. Should we apply mm2h? why?

Foreigners should consider applying for the Malaysia My Second Home (MM2H) program based on their individual needs, lifestyle preferences, and financial situation. MM2H is especially attractive for retirees, high-net-worth individuals, or those seeking long-term residence in Malaysia, a country with a relatively low cost of living and good quality of life.

Here are some reasons to consider applying:

Long-term Residency: The MM2H visa offers long-term residency (up to 10-15 years depending on the package), providing stability for those looking to live in or frequently visit Malaysia.
Affordable Living: Malaysia offers a lower cost of living compared to many Western countries, making it appealing for retirees or expats looking to stretch their retirement savings.
Property Investment: MM2H allows foreigners to invest in property, with specific financial incentives, such as the ability to withdraw from the required fixed deposit for property purchases.
Travel and Family Benefits: Visa holders can bring dependents (spouses, children, and parents) under the program, and the long-stay visa allows for ease of travel in and out of Malaysia.

However, foreigners should also consider the financial requirements, such as the substantial fixed deposit needed (especially under higher tiers like Gold and Platinum) and the 60-day per year residency requirement. Those with the means and who plan to stay long-term or frequently travel to Malaysia may find MM2H to be a good option.

Before applying, it’s essential to evaluate your financial situation, lifestyle goals, and long-term plans to determine if MM2H aligns with your needs.

5. what is the package for mm2h

The Malaysia My Second Home (MM2H) program now offers three tiers in its 2024 guidelines: Platinum, Gold, and Silver, each with different requirements and benefits.

Platinum: Requires a fixed deposit of RM5,000,000 in exchange for Permanent Residence (PR). You can withdraw 50% after one year for property, healthcare, or tourism expenses, but the property purchased must be at least RM1.5 million.
Gold: Requires a RM2,000,000 deposit for a 15-year renewable visa, with similar withdrawal terms but a lower minimum property purchase value of RM750,000.
Silver: A more accessible option with a RM500,000 deposit for a 5-year renewable visa. After one year, 50% of the deposit can be withdrawn for property purchases of at least RM750,000.

All tiers have a 60-day annual minimum stay requirement and allow dependents (spouse, children under 21 or up to 34 if unmarried, and elderly parents). You must meet financial criteria, including proof of income, and tertiary education is generally required. The program is designed for retirees, business investors, and high-net-worth individuals.

Summary

The Malaysia My Second Home (MM2H) program is a long-term visa scheme introduced by the Malaysian government in 2002. It allows foreigners to reside in Malaysia for up to 10 years, with an option for renewal. The program is designed for retirees, expatriates, and those seeking long-term residence.

To qualify, applicants must meet financial criteria, including proof of sufficient income and fixed deposits in local banks. In 2021, stricter requirements were introduced, such as higher income thresholds and asset declarations. MM2H offers various packages catering to different financial levels, with benefits including tax exemptions for income earned outside Malaysia, the ability to invest and purchase property, and access to local education and healthcare systems.

The program has contributed significantly to Malaysia’s economy by attracting affluent individuals to live and invest in the country.

Can Contact us for more.