| Migration |
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What so special about Malaysia My Second Home program ? But the very obvious reasons of joining the program are :
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Malaysia My Second Home offers a straight 10 years residential pass with auto renewals of indefinite period.It is more convenient … even if the holder and his/her family did not stay here a single day during the 10 years period,it will still be renewable.
This is definitely an advantage comparing to migration to Australia or Canada where you are required to fulfill staying 2 out of 5 years for next renewals ! |
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This program is also easy and convenient to apply with approvals only within 60 days!Moreover,the participants need not be present to apply. |
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Low requirements for group age above 50 years old with only to proof monthly RM 10,000 off-shore income without any further investment needed.Australia and Canada program required about USD 200,000 to USD 300,000 of investment to qualify! |
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For those who intend to apply under the Fixed Deposit criteria,such a low investment is easily affordable to everyone.For age above 50,only RM150,000(USD 40,000)and for those age below 50,it will be RM300,000(USD 75,000)as fixed deposits.Thereafter one year,the participants are only required to maintain RM60,000(USD 15,000)in their fixed deposits account for as long as their Malaysia My Secon Home pass is valid.Conditional approval can be obtained to allow participants to place their fixed deposit only during the final visa stamping. |
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This pass allows you and your family to stay anywhere in Malaysia.It comes with Multiple-Entry Visa makes it more convenient to travel in and out of the country. |
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For parents who have children studying or working and those intend to study or working here,your car incentives will allow your children to enjoy easy transportation back and forth to schools,supermarkets,work,etc.The car incentives save you as much as 40%on the local assembly cars.After the incentive,pricing for Proton Wira 1.5 cost about RM 38,000 (off from RM 55,000)whilst BMW 5.23i costs RM240,000 (off from RM420,000).With such saving,it already able to finance your fee to participate in Malaysia My Secon Home Program. |
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Also for parents who are unsure of where their children are heading,upon finishing study O level at age of 17,it is advisable to join the program under the family ' s application,as Malaysia My Secon Home criteria allow all children under age of 18 to join.This will saves them the hassle joining the yearly renewal student pass for higher learning.And for those who sent their children overseas study,this will give their children the ability to stay in Malaysia with you and your family till age 27.
Not only it saves you the cost of application ,but it also save you upfront of RM 300,000 as fixed deposit (the criteria for approval for participants age 18 and above),should your child (age above 18)wanted to join you in the program later. |
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Even more attractive ….the Malaysia My Secon Home participants are allowed to purchase two properties with minimum RM150,000 only with Foreign Investment Committee approvals.
All other expatriates not under this program has to meet minimum RM250,000 per unit. |
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You and your family can also bring along your maid under this program,not limited to your pets,car and personal belongings from your country.All items brought in will be taxed-free. |
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Under this program,all off-shore incomes or fund remitted into Malaysia is non - taxable.Every cents brought in,will be able to take out and be remitted out of the country without any hassle. |
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You and your family can also enjoy freedom to invest in any businesses and participate in the local shares/derivatives markets without any hindrance. |
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Malaysia My Secon Home program makes you and your family more than a home that close to your heart!You will feel very much like local people of Malaysia having able to enjoy so many benefits!. |
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Be part of this program,don ' t miss the good opportunity whilst it is still available!. |
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| Note : The above information is accurate at the time of printing.Rules and criteria of participating Malaysia My Secon Home program may change from time to time as when the authority deems fit.(June 2 nd 2006) |
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Criteria for Applying : My Malaysia Second Home :
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For a renewal 10 years MMSH visa,two main categories namely : - |
Age above 50 year old |
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Show proof of monthly off-shore income of RM 10,000 (USD 2,800 approx). |
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OR. |
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Fixed deposit of RM 150,000 (USD 40,000 approx). |
Age below 50 year old |
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Fixed deposit of RM 300,000 (USD 75,000 approx). |
Note : |
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After one year,participant can withdraw RM90,000 (age above 50) or RM240,000 (age below 50)for medical,education and property purchase. |
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Participant must maintain RM 60,000 from second year onward as long as visa is valid. |
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For those applying under the Fixed Deposit category,fixed deposit will be placed after “Conditional Approval ” obtained,during final stamping of visa. |
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After Approval,other expenses to pay : - |
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Visa fee – RM 90 – RM 120 per year per person (depending on countries). |
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Medical Check-up per person RM 120 |
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Medical Insurance – only applicable to participants aged below 50 category. |
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| My Malaysia Second Home: |
Documents require for application : |
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Company letter (original)stating of position,salary and date of commencement for those being employed and 3 months pay slips. |
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For retiree,latest 3 months pensions or rental received or other sources of income received |
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Company Docs (M&A and Certificate of Incorporation)if he/she is the shareholder/director of the company. |
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Photocopy of full set Passport of all participants. |
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3 Photos Passport size each applicant. |
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Photocopy of Marriage Certificate (if married). |
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Photocopy of Children Birth Certificate (if include in the application). |
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Photocopy of Change Name Certificate (if any). |
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A copy of documents of Properties owned (if any). |
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Latest 3 months 'Bank Statements. |
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Bank Letter Certification of the client ' s status. |
| Note : It is encouraged to submit as many supportive documents as possible for higher success approval rate. |
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Client’s Tentative Schedule Coming to Malaysia :- |
For those applied under Income criteria:-
The tentative schedule will be as follows :-
Day 1 – 9.30 am Principal arrange with client on purchase of medical insurance
policy ready by 12pm
1.30pm Principal bring client to Putrajaya for stamping of visa, which may
take 2 to 3 hours depending on workload in Immigration Dept.
Day 2 Free and easy unless Day 1 -stamping visa not complete
For those applied under Fixed Deposit criteria: -
Day 1 - 9.30am Principal will bring client to local bank to open FD bank account and deposit monies and arrange for purchase of medical insurance (if any) Day 2 Free and easy unless FD deposit is ready, we proceed to Putrajaya for stamping visa. Day 3 If Day 2 stamping visa is not done, we will proceed to complete it on this day.
Note:- A. For client applying under the Fixed Deposit criteria, please advise client to allow at least 3 full working days in case any delay caused by the Bank due to delay in receiving of TT, etc. B. For others – 2 full working days would be sufficient unless immigration has abnormal circumstance ie computer break down, etc. C. Entry Visa is valid for 3 months whilst the Letter of Approval is valid for 6 months. D. Malaysia Immigration Department operating hour is :- Mon to Thursday 8am to 5pm Friday 8am to 12.15pm 2.45pm to 5.00pm
(Saturday and Sunday closed)
For Rejected Application Principal will forward to Agent with a copy of the Reject Letter from the Malaysia Immigration Department. An appeal of the case may be arranged on case to case basis.
Note: All approval and rejections are solely at the discretion of the Malaysia Immigration
Department.
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FOR STUDENTS GRADUATING SOON/BUSINESSMEN –
WANTING TO STAY IN MALAYSIA
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You will have 10 years Multiple Entry MM2H Pass
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Enjoy:-
· Car purchase discount up to 40 % or AP allowing you to import car. Bringing along maid of your own country.
· Purchase 2 units of houses minimum RM150,000.
· Offshore income/fund remitted to Malaysia non-taxable.
· No minimum stay requirement for onwards renewal. |
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Invest In Business
(as long as you are not employed)
Note: All foreigners can register a Company |
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Private Limited Company
(Sole Proprietorship not allowed) |
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Local Owned
50% local ownership with
Malaysian nominees |
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Foreign Owned
50% ownership with 2
Malaysian nominees. |
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FOR STUDENTS intend to STUDY in Malaysia - WANTING
THEIR PARENTS TO COME TO MALAYSIA
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Your parents including your siblings age below 18 will
have 10-years Multiple Entry MM2H Pass |
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Enjoy:-
· Car purchase discount up to 40 % or AP allowing you to import car. Bringing along maid of your own country.
· Purchase 2 units of houses minimum RM150,000.
· Offshore income/fund remitted to Malaysia non-taxable.
· No minimum stay requirement for onwards renewal. |
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Understanding MM2H Incentives
(To apply after your MM2H’s approval is obtained) |
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House Purchase |
Each participant is allowed to purchase two units of residential houses at minimum
prices of RM 150,000 each, depending on the location of the property. Generally, the
minimum price for the property of houses in Malaysia is set at:
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1) Above RM 350,000 each for certain areas in the state of Sarawak
2) Above RM 250,000 each for the states of Penang, Malacca and Johor
3) Above RM 150,000 each for other states |
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| Car Purchase |
Each participant is allowed to bring in one personal car OR purchase one locally
assembled car without the need to pay import duty, excise duty and sales tax.
The following is a rough guide of the prices as at 15th April 2006 for locally assembled
car:- |
| Model |
Retail Price |
Nett Price |
Discount |
| Mercedes-Benz C230K |
350,000 |
216,000 |
38 % |
| Mercedez-Benz E200K |
410,000 |
257,000 |
37 % |
| Toyota Fortuner 2.7 |
180,000 |
114,000 |
37 % |
| Toyota Innova 1.3 |
105,000 |
77,000 |
27 % |
| BMW 5.23 |
420,000 |
240,000 |
42 % |
| Mercedes S 320 |
790,000 |
490,000 |
38 % |
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Domestic Helper |
Each applicant is allowed to apply one maid from your country of origin to the
prevailing guidelines of Immigration Department of Malaysia.
The maid has to be female aged between 25 to 45. |
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| Frequently Asked Questions |
Criteria For Applying
Q : Must I be in Malaysia while applying?
A : We will do the application and getting approvals for you. You only need to come into Malaysia after approval obtained during the final stamping of MM2H Visa.
Q : Can the purchase of a house in Malaysia which is valued more than RM150,000 be considered as having fulfilled the financial criteria for this program?
A : No. Participants are required to fulfill the fixed deposit requirement as the purchase of a house is not compulsory for participants under this program.
Q : If my wife is also an income earner, can I use her income jointly to meet the criteria?
A : Yes, as long as she is included in the application.
Q : What are the type off-shore incomes that are acceptable to apply under this program?
A : Monthly salaries where you are working, pensions, loyalties, rentals receive from your properties are also can be considered.
Fixed Deposits
Q : When I need to place my fixed deposit?
A : We will apply for “conditional approval” for you place your fixed deposit during stamping of MM2H visa.
Q : Can I place the fixed deposit in a Malaysia bank located in my country?
A : No. Participants have to place their fixed deposits in any Malaysian local bank or financial institutions in Malaysia.
Q : Can I take out my fixed deposit during my stay in Malaysia?
A : A. Participant can withdraw all the fixed deposits as when he/she decides to terminate the MMSH pass.
B. Deposit can be taken out(leaving balance RM60,000) after the one-year period when he/she decides to purchase properties, education purposes or medical expenses in Malaysia.
Q : What happen to my RM$60,000 fixed deposit?
A : To be remained in fixed deposit account as long as your MM2H visa is valid unless you decides for early termination of the program.
Q : Can I have a joint name for this fixed deposit account?
A : Yes, you can with your wife/husband name. Employment
Q : I am a qualified doctor in USA. How can I get to work in Malaysia hospital or a private hospital?
A : Under MM2H Programme, participants are not allowed to work. However, you can apply to the Human Resources Ministry seeking special approval for you to work in Malaysia because of your special expertise. If you are successful, you will be issued a work permit or employment pass. You may join MM2H Programme at the end of
your work permit if you decide to continue your stay in Malaysia.
Education
Q : Is my children be allowed to study in Malaysia under this programme?
A : Yes, they are allowed, but they are required to apply for student Visa for those below age 18.
Q : If my children do not intend to carry on with his/her student pass, what will happen?
A : They can apply to re-instate the MM2H visa as along as your MM2H is still valid.
Q : Can I include my children of age above 18 in the Programme?
A : No, MM2H Programme allows children age below 18 to join with their parent’s application. They will have to put in RM300,000 to apply as separate application under age 50 category with reference to their parents, in which the Ministry may give a good standing on his/her application.
House Purchase
Q : Are the participants entitled to any special entitlements?
A : All participants are allowed to purchase two units of residential properties of value more than RM150,000 each except for certain states like Johor, Melacca, Penang and Sarawak.
Q : Do I have to pay yearly assessment and quit rent for houses like the local?
A : Yes.
Q : In the events of unforeseen death, is the participant able to hand over his/her Malaysia assets to any of his/her beneficiaries smoothly. Does the Government have any restriction on this matter?
A : Yes, provided he/she has a Will which indicated clearly to whom the properties are to be given. If not the next of kin of the participant will have to apply to the Government to have his properties released to them as the rightful heirs.
Q : Must foreigners buy new Malaysia property only, such as from developers, or can they purchase any property such as from individual owners (second hand or third hand property)?
A : Participants can purchase any type of housing property direct from property developers or individual owners. Participants are advised to purchase residential properties with CF (Certificate of Fitness) directly from the developers.
Q : Do I need to obtain prior approval from Foreign Investment Committee (FIC) for the purchase and sale of my house?
A : Participants under this programme are not required to obtain prior approval for the purchase and sale of houses from FIC. However, they must write to the Ministry of Tourism giving details of the house (location as well as price) so that a letter can be issued to them certifying that they are eligible to purchase the said property under this programme. In addition, they are required to send a copy of the approval letter obtained from the respective State Authority to FIC for information.
Q : Am I subjected to property gain tax if I make profit from selling my house?
A : Yes.
Q : Can I apply for home loan?
A : Yes, you can but the approval is solely at the discretion of the bank.
Car Purchase
Q : What kind of car incentives for successful participants?
A : You entitled to free import tax, excise duty and sales tax if:-
a. You are allowed to bring your personal car from your country which you owned before you join MM2H programme. OR
b. You are allowed to purchase a locally assembled car in Malaysia.
Q : Is participant who buys a second-hand local car eligible for tax exemptions?
A : Second hand cars are transacted on a willing buyer, willing seller basis and the government do not levy any sales tax and excise duty on such transactions. As such tax exemptions do not arise. However, second hand which are imported are subject to sales tax and import duty at the point of entry.
Q : If I had a car accident and as a result I need to change the car, do I have to pay back the tax exemptions?
A : Given the following situation:
a. If the car is repaired and sold it will be subject to the applicable tax/duty according to the prevailing rates.
b. If the car is written off, taxes will be waived.
c. If the participant wishes to buy another car, their application will be processed on the merit of each case.
Q : When can I sell the car, which has been given all the tax exemptions?
A : Cars that have been exempted from taxes and duties under this programme can be sold or its ownership transferred provided the prevailing taxes and duties on the cars have been paid prior to the AP should be complied before any sales or transfer can be permitted.
Q : How long is the process of the application for the car incentive?
A : As the procedure also involve other Government agencies, it may takes as long as 60 to 90 days.
Q : Can I apply for car loan from any local financial institutions?
A : Yes you can, but the approvals is solely at the discretion of the bank.
Income Tax
Q : What kind of taxes are the participants of this programme normally subjected to?
A : Income tax is imposed on income earned from investment in local companies and local share market. Apart from this, gains from the sales of landed property are also subjected to real property gains tax. Please refer to www.hasilnet.org.my for more details on the tax structure.
Q : Is the interest for their fix deposit taxable? Some say it is taxable, Other it is not taxable. If the deposit amount exceeds RM100,000 OR if the deposit period is one year. What is the exact regulation?
A : Interest earned by individual from fixed deposit account is exempted
in the following situation:-
a. Period exceeding twelve months or more – any amount of interest.
b. Period not exceeding twelve months – interest on fixed deposit account of up to a maximum of RM100,000.
Q : Is income remitted from abroad taxable?
A : From year of assessment 2004 all income remitted from abroad is not subject to tax.
Q : If the participants have to submit income tax return to the Income Tax department, are they entitled to any exemptions under the programme?
A : They will only be taxed on the income earned in Malaysia after taking into account the personal tax allowances. The income will be taxed according to a progressive tax rate structure.
Q : I am a German in which my country has a double taxation agreement With Malaysia for at least 184 days, my pension scheme will not be taxed by German Government and will also not be taxed by the Malaysia Government. Is it true?
A : Under this Programme, pension remitted to Malaysia is exempted from tax. Driving License
Q : I have an international driving license; do I need to sit for a driving test to obtain a driving license in Malaysia?
A : Malaysia recognizes all international driving license. Therefore, you do not need to obtain a new driving license in Malaysia as long as your license is valid. Maids
Q : What type of maid that I can bring along under this programme?
A : You are allowed maid of your own country and has to be female age between 25 to 45.
Q : How I apply?
A : You can apply only after you have obtained your MM2H approval. It will take about 60 to 90 days in processing and it is subject to the prevailing rules and regulation of foreign maid section in Immigration Department of Malaysia. Medical Insurance
Q : What type of insurance that I need?
A : Medical/Hospitalization insurance coverage for you and your family in Malaysia.
Q : What happens if I am not qualify to purchase due to my old age?
A : Exemption letter to be obtained from the insurance company but the rest of your family will be required to purchase the insurance. Renewals
Q : What are the renewal conditions?
A : Your initial application was given an approved renewable 10-year block of visa. Thus, the renewal is merely a procedural process which require showing of your Bank Statement of Fixed Deposit, latest income slips, as well as the medical/hospitalization insurance.
Q : When should I do the renewal?
A : It is advisable to do your renewal three months before the expiry of the MM2H visa.
Note: All information printed is accurate at the time of printing.
Printed on 29th May 2006
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WORK FLOW CHART (AGENT with CLIENT) |
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STEP 1
SIGNING OF AGREEMENT WITH CLIENT |
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STEP 2
COLLECTION OF DOCUMENTS FROM CLIENT |
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STEP 3
SEND CLIENT DOCUMENTS TO PRINCIPAL FOR SUBMISSION |
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STEP 4
APPROVED
GET CLIENT VISA DONE IN MALAYSIA HIGH COMMISSION |
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STEP 5
ARRANGE WITH CLIENT THE SCHEDULE TO MALAYSIA
*Above age 50 clients – minimum 2 nights
* Below age 50 client – minimum 4 nights (for opening of account) |
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If you are interested to do your MM2H program, then please contact winningmagnitudebd@gmail.com |
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