Malaysia immigration

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Thursday, September 15, 2011

Malaysia immigration

Malaysia, with a range of beautiful living environments from beach resorts to highlands, offers a wonderful place for immigration. Now, potential immigrants have an even greater reason to choose Malaysia: the government's Malaysia My Second Home program. This program is especially beneficial for retirees looking to immigrate to a warm climate with a low cost of living. If this is what you are looking for, immigration to Malaysia could be for you!

Malaysia My Second Home Programme

Application

When applying for a Malaysia My Second Home (MM2H) visa the following conditions must be met:
  • Applicants below 50 years of age are required to show proof of liquid assets worth a minimum of RM 500,000 and offshore income of RM 10,000 per month
  • Applicants aged 50 and above must show proof of RM 350,000 in liquid assets and off shore income of RM 10,000 per month
  • New applicants who have purchased properties worth at least RM 1 million may qualify for a lower fixed deposit amount

Approval

For successful applicants who have received a "conditional approval letter" from Immigration Department of Malaysia the following additional conditions must be met:

Below 50 years of age

  • Open a fixed deposit account of RM 300,000
  • After a period of one year, the participant can withdraw up to RM 150,000 for approved expenses relating to the purchase of a home, education for children in Malaysia and health care
  • Must maintain a minimum balance of RM 150,000 from the second year onwards and throughout the stay in Malaysia under the My Second Home Programme
  • For approved applicants who have purchased and own property worth RM 1 million and above in Malaysia are subject to a basic fixed deposit requirement of RM 150,000 on condition that the property has been fully paid all legal ownership documents have been issued

Aged 50 years and above

May either:
  • Open a fixed deposit account of RM 150,000; or
  • Show proof of government approved pension funds of RM 10,000 per month
After one year, MM2H visa holders who fulfill the fixed deposit requirement can withdraw up to RM 50,000 for approved expenses relating to purchasing a home, educating children in Malaysia, and health care.
MM2H visa holders must maintain a minimum balance of RM 100,000 from the second year onwards and throughout his/her stay in Malaysia under this programme
Approved participants who have purchased and owned property which were bought at RM 1 million and above in Malaysia are eligible for a fixed deposit requirement of RM 100,000, on condition that the property has been fully paid and all legal ownership documents have been issued.

Other Requirements

All applicants and their dependents are required to submit a medical report from any private hospital or registered clinic in Malaysia.

Health Insurance

MM2H visa holders and their dependents must have valid medical insurance coverage that can be used in Malaysia (exemptions may apply for people who face difficulties obtaining health insurance due to their age or medical condition).

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