Penang, Your Ideal Home for Malaysia My 2nd Home (MM2H) Program

Participants of Malaysia My Second Home (MM2H) Program are provided with various incentives to make their stay even more comfortable and enjoyable in Malaysia.

The incentives provided are as follows:-

• Long Term Social Visit Pass
• House Purchase
• Car Purchase
• Tax
• Investment
• Domestic Helper
• Special Visa for Parents

Upon approval, the applicants will be granted a ten (10) years social visit pass with a multiple entry visa (subject to the validity of the applicants’ passport). The applicants can come and stay in Malaysia for as long as they wish and they can travel to Malaysia as frequently as they wish without the hassle of the need to apply for the necessary visa.

Participants are allowed to purchase residential properties at the minimum prices of MYR 350,000.00 for certain areas in the state of Sarawak and minimum prices of MYR250, 000.00 for other states in Malaysia To encourage foreign investments in Malaysia, the Government of Malaysia has announced the waiver of the Real Property Gains Tax. Effective 1st April 2007, disposal of properties will not be subject to Real Property Gains Tax. Therefore, the participants no longer need to pay Real Property Gains Tax for any gains on the disposal of property.

Effective 1 July 2008, new applicants who have purchased and owned residential property which were bought at MYR1 million and above in Malaysia are eligible to apply for exemption from placing the full FD amount required of MM2H participants. They only have to comply with the basic financial requirement of FD or MYR60, 000.00. This amount may not be withdrawn until the participants decide to terminate their participation on MM2H program.

The participants may import one used motorcar which belongs to him from his country of citizenship or where he last domiciled. He will be exempted from paying import duty, excise duty and sales tax on the imported motorcar within six (6) months from the endorsement date of the MM2H visa. (Note: “Personal Car” is the foreign registered car which was owned for more than 6 months before applying for the program) OR The participants may purchase one new motorcar made or assembled in Malaysia. He will be exempted from paying exercise duty and sales tax on the new motorcar within one (1) year from the endorsement date on the MM2H visa.

Foreign-sourced income received by an individual in Malaysia are not subject to tax even is such income is remitted to Malaysia. There is no capital gain tax on property investment or share investment in Malaysia.

Participants are allowed to invest in local companies as an investors. They are allowed to attend Company’s Board Meetings as one of the company directors but they are not allowed to have an office in the company nor be salaried. Participants can participate in the local share market or invest in various investment products such as unit trust, structured investment etc.

The MM2H Program allows participants to employ a foreign maid to assist you at home, such that you won’t have to waste precious time on household chores. Each participant is allowed to apply for one foreign maid subject to the prevailing guidelines of the Immigration Department of Malaysia. Please note that unless your maid is from Cambodia, Indonesia, Philippine, Sri Lanka or Thailand, special approval is needed.

Parents of the participants who are above 60 years old can come to Malaysia together with the participants, under a special social visit pass with the duration of six (6) months, renewal till the expiry of the 10 years visa of the participants.