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ENJOY LONG TERMS STAY WITH FAMILY UNDER THE "MALAYSIA MY SECOND HOME" (MM2H) PROGRAM
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. Malaysia My Second Home program is open to all foreign citizens wishing to retire or reside in Malaysia on a long term basis.
. It is fully endorsed by the Government of Malaysia and your immediate family (spouse and children) can also participate in the program. Here are some of the key benefits of the program.
. You will get a 10-year Visit Pass and Multiple-Entry Visa (renewable every ten years) which will eventually give you a lifetime easy access to the country (perpetual visa).
. You can import your car or purchase a new car, tax-free and enjoy other tax incentives.
. You can invest and own businesses in Malaysia. This is like owning a second passport, or a second citizenship in Malaysia.
. You can enjoy a luxury lifestyle at a fraction of the costs. It is the cheapest and very affordable place to retire early.
. The best thing is that you still retain your citizenship and all its privileges in your own country.
. For starters, living in Malaysia is relatively cheaper compared to any other countries in Asia.
. Due to the Malaysian government’s ingenuity and monitoring of the country’s local economy, Malaysia’s inflation is kept at a minimum, thus ensuring that the cost of living and the daily expenses of the country’s inhabitants are affordable for all income groups.
. Apart from an affordable lifestyle, Malaysia is blessed with a thoroughly modern infrastructure that includes modern road, railways, with air and sea transportation systems that are well on par with other modern countries.
. Malaysia enjoys a pleasant, warm and balmy weather, much like summer and spring season in most European countries, and will have moderate to heavy rain falls throughout the monsoon season in a year.
. For your medical and educational needs, Malaysia offers one of the best developed and quality education and medical systems - both public and private.
. Whether you are looking for schooling for your children, furthering your higher education or seeking medical treatment; there’s a wide selection of top-notch colleges, hospitals, private clinics, universities and schools that you can choose from when looking for a solid, excellent education or medical treatment at a very reasonable cost.
Latest Announcements
1- Qualified MM2H participants aged 50 and above with specialized skills and expertise that are required in the critical sectors of the economy, are allowed to work not more than 20 hours per week.
2- MM2H participants are allowed to invest and actively participate in business, subject
to existing Government policies, regulations and guidelines.
3- Age limit of unmarried dependent children is raised from 18 years to 21 years.
4- ‘Dependants’ include unmarried children aged 21 years and below, step-children,
disabled children and parents.
The Great Qualities of Malaysia for a Peaceful Life
Malaysia also has world-class highways that connect all the States in Peninsula Malaysia, modern urban transportation systems that make traveling to the city a breeze, and has among the best medical facilities in Asia. Here are a few other reasons why Malaysia is the best place to retire.
- Blessed with warm moderate weather all year round.
- Superb healthcare facilities and highly-skilled medical practitioners. Yet medical expenses and insurance can be very cheap and affordable compare to other countries.
- Great education system. It also has many international schools to cater for expats children, and numerous colleges with affiliation with well-known overseas universities.
- Big shopping centers that have international brand names as their tenants, as well as street malls that carry cheap local products.
- A majority of the people understand and speak English.
- Due to its location at the center of South East Asia, air traveling to neighboring countries only takes a short time.
- Lots of interesting places to visit, mountains to climb, caves to explore.
- A large variety of food, cooked in a lot of different styles that have been influenced by the various cultures that exist in the country.
- Low crime rate, and highly efficient Royal Malaysian Police.
- Cheap insurance rate as the people are not as litigious as in the West.
- Very friendly people.
- And the list goes on and on....
So Do Not Wait to Enjoy the Heavenly Qualities of Malaysia
NOW is the best time to take up this opportunity. The longer you wait, the longer the queue and your dream home may be further away from the best spots. Here are some of the reasons why you should take up now rather than wait at a later stage.
- This is a new program introduced by Malaysian Government to promote Malaysia as the best destination for vacation, shopping, retirement and investment. The Government has set a quota for the year, and we anticipate a lot of people will grab this opportunity.
- Get the best spot before it is all taken up. Grab the opportunity to own a beach front bungalow, or a condominium located at the city center, before they are fully booked.
- Price of properties are very cheap and affordable during this period.
- Favorable stock market condition. Malaysian stock market is recovering from a slump for the past few years, which means that this may be the best time to invest.
Who is ELIGIBLE to Apply?
The following Conditions Must Be Met upon the "Conditional Approval".
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 car, business investment, 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.
The following Conditions Must Be Met upon the "Conditional Approval".
ii) Aged 50 years and above
- Can either choose to:
- Open a fixed deposit account of RM150,000.00 ; OR
- Show proof of government monthly pension income of RM10,000.00 or from approved/recognized institution in the country of origin such as pension scheme.
- After a period of one year, participant who fulfils the fixed deposit criteria can withdraw up to RM50,000.00 for approved expenses relating to house purchase, car, business investment, 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 stay in Malaysia under this programme.
Medical Report
Applicants are required to submit a medical report from any public
or private hospital in Malaysia.
Medical Insurance
- Approved participants and dependents must possess
a valid medical insurance policy from any insurance company
in Malaysia.
- Participants can also refer to the Section on
'Incentives and Others' on Health and Well-Being of Participant.
Incentives
Participants of Malaysia My Second Home Programme are provided with
various incentives to make their stay even more comfortable and
enjoyable in Malaysia. The incentives provided are as follows:
House Purchase
Each participant is allowed to purchase up to two units of residential
houses at a minimum prices of RM150,000 – RM350,000 and above
each, depending on the location of the property.
Generally the minimum price for the purchase of houses in Malaysia
are as follows:
- RM150,000 and above for other states
- RM250,000 and above each for Pulau Pinang, Melaka
and Johor
- RM350,000 and above each for certain areas in
Sarawak
Please refer to the Section
on ‘Incentives and Others’ on Acquisition of Properties
and Tax Procedure for Sale of Property.
Car Purchase
Each participant is allowed to bring in his/her own car (used) OR
to purchase a locally-assembled car without the need to pay import
duty, excise duty and sales tax.
However,participants must apply for prior approval within the time
period given to the Ministry Of Finance and Ministry of International
Trade and Industry before bringing in car from country residence
or buying the locally-assembled car in Malaysia.
Please refer to the Section on `Incentives and Others’ on
Exemption of Tax/Duty on One Motorcar, Bringing in Personal Car
with Duty/Tax Exemption, Bringing in Second Vehicle and Selling
Car That Has Been Given Tax Exemption.
Domestic Helper
Each applicant is allowed to apply for one maid subject to the prevailing
guidelines of the Immigration Department of Malaysia. Please click
on the Section on ‘Incentives and Others’ on Bringing
Foreign Maid.
Education
Applicants are allowed to bring their children who under 18 years
old and not married as their dependants under this programme.
Dependants who intend to continue their schooling in Malaysia are
required to apply for a Student pass.
Please refer to the Ministry of Higher Education Malaysia's website
: www.mohe.gov.my for a complete
list of all private institutions of learning in this country and
click on Section 'Incentives and Others' on Registering Children
in Private Colleges and Universities.
TAX
Participants are bound by the policies, systems and regulations
of taxes of this country and they do not have exemption qualifications
as granted to Diplomatic Missions in Malaysia.
However, tax exemption is given to pension remitted into Malaysia.
Participants are required to obtain the endorsement from the Authorities
in their country of origin as to the total amount of yearly pension
received. A copy of this letter has to be submitted in their application
for tax exemption.
Please refer to Inland Revenue Board Malaysia’s website: www.hasil.org.my
for the tax system and click on Section ‘Incentives and Others’
on Informing Inland Revenue Board (IRB) on Income Earned in Malaysia.
Extensions – Change of
Passport
This applies to those who did not receive the full duration of the
10-year Visa because of the short validity period of their passport
at the time of approval and would like to receive the remaining
period upon
Extensions – After 10-Year
Period
The applicants must be present in person at the Immigration Department
of Malaysia and is required to bring the following documents:
- Letter of Intent to continue stay in Malaysia
under this programme
- Passport
- Photocopy of Passport
- IM.55 Form
- Payment of RM90 per year for the Visa, payable
to the Immigration Department of Malaysia
Termination
The applicant should forward the following documents to the Malaysia
My Second Home Centre :
- Letter of Intent to terminate stay in Malaysia
under this programme
- Passport
- Photocopy of Passport
Please click on the Section ' Application
Procedures' for the information on the New Application Process and
Procedures for Extension Termination.
- Having a reputable sponsor is recommended;
- To have a medical report from any recognized hospital;
- A medical health insurance valid in Malaysia.
- The successful applicant cannot seek gainful employment
or do business in Malaysia unless he obtains the permission
of the Malaysian government.
WHY MALAYSIA?
Government Supported
It is a program, that the Government will continuously work to ensure
its success.
Standard of living
Malaysia has one of the highest standards of living in the region
with all the modern infrastructure and facilities in place.
Cost of living
Cost of living is one of the lowest in Asia and will remain so for
a very long time. This is achieved through the Government's efficient
monitoring of the economy in ensuring that inflation is kept low
at all times and thereby also the prices of goods and services.
Weather
The weather is pleasant, warm and balmy with moderate rain throughout
the year. There are also highland residential areas and resorts
with permanent sprint-like weather throughout the country.
Infrastructure
The whole country is very Malaysia but the constitution guarantees
the well connected with up-to-date, modern road, rail, air and sea
transportation systems. Public transport by buses, taxis, trains
and planes are comfortable, efficient and relatively low in cost.
Political stability: The ruling Government is the longest serving
freely elected Government in the world. It is a Government representing
all the races, religions, cultures etc. found in Malaysia. In fact,
Malaysia is one of the most politically stable countries in the
world.
Rule of law
The rule of law is one of the fundamentals in Malaysia's constitution.
Everyone is subjected to the law and also equal before the law.
Malaysia practices basically the British system of justice with
an independent reliable and dependable judiciary.
Safety
Statistics can proof that Malaysia is one of the safest countries
in the world, its crime rate is relatively low.
Religion
Islam is the official religion of Malaysia but the constitution
guarantees the right of people to practice other religions.
ENJOY FAST CANADIAN RESIDENCE IN QUEBEC
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