Participants of Malaysia My Second Home Programme are provided with various incentives to make their stay more comfortable, pleasant and enjoyable in Malaysia.
There is NO limit on the number of houses purchased by MM2H approved applicants.
- Property value for apartment, house, or land must be RM500,000 and above.
Condition in Penang
- Apartments: MM2H applicant can buy max 2 units @ RM1,000,000 per unit.
- Landed Houses: MM2H applicant can buy max 2 units @ RM1,000,000 per unit on mainland and RM2,000,000 per unit on island.
Why Invest in Malaysia Property
- Direct foreign ownership
- Security in legal ownership (SPA in English)
- No limit on freehold and landed properties
- Minimum investment of property – RM500,000 (except state of Penang)
- No need approval from Foreign Investment Committee (FIC)
- Buy and sell in open market
Each MM2H participant is allowed to bring in his/her own personal car or to purchase a locally-assembled car without the need to pay import duty, excise duty and sales tax.
The MM2H participant may import one motorcar, which belongs to him/her from the participant’s country of citizenship/or where he/she last domiciled. The application must be forwarded to the Ministry of Finance within a period of six months from the endorsement date of Malaysia My Second Home (MM2H) social visit pass. The condition for such importation is that the MM2H participant should be the owner of the motorcar for at least 6 months prior to obtaining the MM2H visa, as evidenced in the motorcar registration document.
The MM2H participant may purchase one new motorcar made or assembled in Malaysia. The application must be to the Ministry of Finance within a period of one year from the endorsement date of Malaysia My Second Home (MM2H) social visit pass.
Note: Do not make an outright purchase of motorcar before obtaining approval for tax/duty exemption from the Ministry of Finance.
Each applicant is allowed to apply for one maid subject to the prevailing guidelines of the Immigration Department of Malaysia.
Applicants are allowed to bring their children who are under 21 years old and not married as their dependants under this programme.
Note: The tertiary educational institutions (private colleges & universities) requires their students to have a Student Pass. Therefore for MM2H dependants who are enrolling into tertiary institutions are required to terminate their MM2H Social Visit Pass in order to apply for the Student Pass and should be insured throughout their stay under this programme.
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.
Income tax is imposed on incomes earned from investment in local companies and local share markets.
However income and pension remitted from abroad into Malaysia is not subject to tax. For pension, 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.