- August 8, 2017
- Posted by: CIP Journal
- Category: Residency
The Malaysia My Second Home Programme (MM2H) offers non-Malaysians and foreign nationals a long term 10 year multiple entry renewable visa (residence permit) to foreign nationals who want to become a resident and live in Malaysia. Applicants are allowed to bring their spouses and unmarried children below the age of 21 as dependants.
The validity of MM2H visa issued based on the validity of passport. For example, if your passport is valid for 8 years, you will be given a 8 year visa with multiple entries.
As many as 33,300 MM2H visas has been issued under this scheme with leading applicants from China, Bangladesh, Japan, United Kingdom and Iran.
- If you are 50 years age or less, you must have $3000 monthly income and must show bank balance $135,000. After the visa is approved, you must deposit $80,000 in a bank account with Malaysian bank and from second year year onwards, you have to maintain $40,000
- If you are above 50 years of age (retirees), you must have income $3000 per month and bankable assets of $95,000. After the visa is approved you have to deposit $40,000 in a bank account in Malaysia and maintain $27,000 from second year onwards.
Approved participant who has purchased and own property which was bought at RM1 million and above in Malaysia may state his/her intention in letter of application during submission to lower down basic fixed deposit requirement.
Any foreigner may purchase any number of residential property in Malaysia, subject to the minimum price established for foreigners by the different states. They start from RM500,000 per unit for most states.