Date: 8-Sep-2010  Time: 1:17:57 AM  

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PROGRAMME REQUIREMENTS

It is open to all foreign citizens except those from the countries of Israel, Serbia and Yugoslavia. This programme is also not applicable to spouses of Malaysian citizens.

Applicants are encouraged to submit their applications through the services of authorized agents registered with the government of Malaysia. All initial applications can be made without the necessity of coming to Malaysia. However after the conditioned approval have been obtained, the applicant is required to come to Malaysia to complete further conditions

The applicant need to have a valid medical insurance coverage from an insurance company in Malaysia.

The applicant need to produce a medical report from a private doctor practicing in Malaysia

The applicant has to fulfill the following financial conditions

Above the age of 50 years

Fixed deposit of RM150,000.00 in a bank in Malaysia or prove of government approved pension fund of RM10,000.00 a month.

After 1 year stay, withdrawal of RM50,000.00 can be allowed for the purchase of a house, medical expenses or for the education of children in Malaysia.

At all times, a minimum amount of RM100,000.00 must be maintained in the fixed deposit account.

Below the age of 50 years

Fixed deposit of RM300,000.00 in a bank in Malaysia

After 1 year stay, withdrawal of RM150,000.00 can be allowed for the purchase of a house, medical expenses or for the education of the children in Malaysia.

At all times, a minimum amount of RM150,000.00 must be maintained in the fixed deposit account.

 

 

 

Financial Requirement

Successful applicants required to comply with the following financial criteria upon receipt of the `conditional approval letter' from Malaysia Immigration Department.

Applicants are expected to be financially capable of supporting themselves for ten years on this programme in Malaysia, without the need to work in the country.  Besides fulfilling the basic financial criteria of Fixed Deposit placement of RM150,000 (for those aged 50 and above) or RM 300,000 (for those aged below 50), applicants should furnish documentation on their financial position to strengthen their application.

i Aged Below 50 years old
  • Open a fixed deposit account of RM300,000.00.
  • After a period of one year, the participant can withdraw up to RM150,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
  • Must maintain a minimum balance of RM150,000.00 from second year onwards and throughout stay in Malaysia under this programme.
ii Aged 50 years and above
  • Can either choose to:
    - Open a fixed deposit account of RM150,000.00 ; OR
    - Show proof of monthly off-shore income of RM10,000.00 such as pension scheme.

  • Only applicants who are drawing from Government Approved Funds can be considered for the   " Monthly off - Shore Income " criteria.
  • After a period of one year, participant who fulfill the fixed deposit criteria can withdraw up to RM50,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
  • Participant must maintain a minimum balance of RM100,000.00 from the second year onwards and throughout his/her stay in Malaysia under this programme.
Note
1 Successful applicants need to open their fixed deposits in Ringgit Malaysia (RM) only.

2 Participants need to obtain approval from Ministry of Tourism before proceeding to withdraw the fixed deposit

3 Participants under this programme 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.



Medical Report
All applicants and their dependents (spouse and children) are required to submit a medical report from any private hospital / registered  clinic in Malaysia.


Medical Insurance

Approved participants and dependents (spouse and children) must possess a valid medical insurance policy which is applicable in Malaysia. However, exemptions may be given for participants who face difficulty in obtaining a medical insurance due to their age or medical condition.

Personal Bond
Hartanet wil provide personal bonds for their clients and their dependents who have been approved under the MM2H Programme

 

 



Restrictions

Participants under Malaysia My Second Home Programme are not allowed to work/be employed while staying in Malaysia. However participants age 50 years and above with specialised skills and expertise can apply to work in sectors approved by the Government

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.

Foreigners who are married to Malaysians are eligible for the programme, subject to the terms and conditions of the MM2H programme. 

 

Application procedure for the exemption of tax/duty on one car 

Application procedure for bringing in personal car with duty/tax exemptions

Application procedure for binging in second car

Application procedure for selling car that has been given tax exemptions

Form for the conversion of a foreign driving license to a Malaysian driving license

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