Malaysia has had one of the best economic records in Asia since its independence. Malaysia’s GDP has been growing at an average of 6.5% per annum for almost 50 years. The economy is expanding in the sectors of science, tourism, commerce and medical tourism. Today, Malaysia has a newly industrialized market economy, ranked third largest in Southeast Asia and 29th largest in the world.
It is one of the key tourist destinations, offering excellent beaches and brilliant scenery. Dense rainforests in the eastern states of Sarawak and Sabah, on the island of Borneo, are a refuge for wildlife and tribal traditions.
Why to choose Malaysia as Second Home?
- The top ranking emerging country, Malaysia offers attractive real estate investment potential and lifetime opportunity.
- With a strong democracy, world class infrastructure and widely-spoken English, Malaysia is one of Asia’s richest countries.
- Under the Malaysia My Second Home programme , Malaysia welcomes migrants from around the world to come to live and to invest.
Malaysia My Second Home Programme
- The MM2H programme was initially established by the Government of Malaysia and allows all foreigners, who fulfill certain conditions, to stay in the country on a long-term visa for at least 10 years. They can enter and leave the country freely without restrictions.
- Financial requirements:All applicants have to show that they are financially capable of maintaining themselves for the time being in Malaysia. This means in practice that an offshore income of RM 10.000 has to be granted.
- Medical requirements:All applicants are obliged to submit a medical report from a registered private clinic in Malaysia. In addition, they are required to purchase a medical insurance scheme.
- Restrictions:Until recently participants of the MM2H programme were not allowed to work while in Malaysia. These restrictions have loosened now insofar as participants aged 50 and above are allowed to take up part-time employment.
Who is Eligible to Get Permanent Residency in Malaysia
The following group of people are eligible for permanent residence in Malaysia.
- High net worth individual;
- Spouse of a Malaysian citizen; or
- Applicants who meet the point system.
How To Apply
- Applications must be submitted in the prescribed form to the Immigration Department of Malaysia in Putrajaya or any State Immigration Office.
- Upon submission of the application, the individual applicant and his sponsor are required to attend an interview at the immigration department.
- If you’re applying as part of category 1, 2, or 3, you must provide a recommendation by the relevant agency in Malaysia with your application.
The following documents are required for permanent residency applications, and must be submitted to the Visa, Permit and Pass Division for processing:
- Form IMM 4
- Two ID photographs (3.5 cm x 5.0 cm)
- An ID photograph if there is a Malaysian sponsor (3.5 cm x 5.0 cm)
- Identity Card of spouse (if applicable)
- Marriage certificate (if applicable)
- Other supporting documents.
- Each participant is permitted to purchase residential houses at a minimum price above RM 1,000,000 (1M) each such as Kuala Lumpur and Penang that are pre-approved by the Foreign Investment Committee of Malaysia.
- Each participant is allowed to bring in a personal car. The vat (GST) tax exemption when buying a new car in Malaysia ended 1 April 2015.
- Each participant is allowed to apply for one maid subject to the prevailing guidelines of the Immigration Department of Malaysia.
- Tax exemption is given to remittance of offshore pension fund into Malaysia Foreign-source income is not taxable in Malaysia.
- Over 50 year olds can work part-time.
- Import personal / household items, tax exempted
- Invest in local companies, share market & unit trusts
- Interest gained from bank fixed deposit is tax exempted
- Your parents can join you also under a long term visa.
- Visa fees in INR for : Indian=1000
For more information on the ‘Malaysia My Second Home’ and to apply one can contact: Ministry of Tourism and Culture Malaysia, Level 1, No. 2, Tower 1, Jalan P5/6, Presint 5, 62200 W.P. Putrajaya, MALAYSIA. TELEPHONE +603 8891 7424 ,+603 8891 7427, +603 8891 7434,+603 8891 7439. FAX: +603 8891 7415. EMAIL :firstname.lastname@example.org