Below are the benefits that participants of Malaysia My Second Home (MM2H) Program will be enjoying.
Continuous Stay in Malaysia
Participants can stay in Malaysia as long as they can renew their MM2H visa as long as they wish.
Freedom to Travel
There is no minimum stay requirement for participants to fulfill. You are free to travel around at any time.
Special Visa for Parents
Parents of participants who are over 60 are allowed to come together under a special social visit visa for duration of 6 months, renewable till the expiry of participants’ visa.
Foreign income received by an individual in Malaysia is not subject to tax even if such income is remitted to Malaysia.
Car Purchase / Import
Participants are allowed to purchase a locally-assembled car without the need to pay import duty, excise duty and sales tax, which can save up to 40%. The application for tax exemption shall be submitted within 1 year from the date of MM2H visa endorsement.
Alternatively, Participants can also bring in their “Personal Car” which they owned before the application for MM2H program by forwarding the application to the Ministry of Finance within 6 months from the date of MM2H visa endorsement.
However, the participant must keep the personal car for 3 years before he/she is allowed to see/transfer to the new owner. Prior approval must be obtained from the Ministry of Finance, Malaysia before the transfers, besides settling the incurred taxes either by participant or buyer to the Royal Malaysian Customs Department.
Participants are allowed to purchase any number of residential properties priced RM500,000 and above per unit.
Children who are below 21 and not married will be allowed to follow as dependants under this program. However, they will have to apply for a Student Pass after they have secured the entry to a Private Education Institute.
Malaysia is also famous for its world class medical facilities. Public medical services are offered at a minimal cost, while private services can be obtained at a reasonable cost. The compulsory medical insurance do covered certain medical needs too.