The Malaysia My Second Home Programme offers non Malaysians a ten year renewable visa and various other privileges. The programme is primarily attracting people who wish to retire in Malaysia or spend extended periods here. Our MM2H website has all the information one needs to learn about the programme, but we still do get plenty of enquiries on various questions. Here are the three most commonly asked questions we get on the MM2H programme.
1. Why Join the Programme and What are the Benefits.
The MM2H programme allows you to live in Malaysia for 10 years with a multiple entry visa that is renewable. This means that you are allowed multiple entry and exit from the country. Another major benefit is that particapants can apply for a bank loan in Malaysia for the purpose of purchasing a property. There is a minimum price, which has changed more than once on recent years and varies depending on the state. It is possible for foreigners to buy freehold land in Malaysia. All property purchasers have to receive state approval, which can take up to six months to secure. Also, a participant can choose to either import one car, which already belongs to him, from his country of residence subject to approved permit (AP), which is exempted from payment of import duty, excise duty and sales tax OR purchase one locally made car in Malaysia free of any taxes.
2. Can a MM2H Participant Work While Under the Programme?
MM2H visa holders aged 50 years old and above can work for up to 20 hours a week. This is applicable to visa holders who have specialised skills in certain approved sectors. We are advised the decision on whether to approve part time work is based on the approving committee view on whether a Malaysian could do the job.
MM2Hers are permitted to set up and invest in businesses in Malaysia. They will be subject to the same regulations as other foreign investors but will not be permitted to become actively involved in the day to day running of the business. If they wish to do this they must switch their visa to a work permit.
3. What Happens When the 10 Year Visa is Up?
You can apply for a renewal for another 10 years. The application procedure for a renewal is a lot easier than your first application. Also, the renewal can be done a couple of months before your old MM2H visa expires.