Malaysia My Second Home
For those who are retired or are engaging in their retirement plans, don’t forget to include PAP in your arrangements.
We are linked to property agents across the globe and will be able to help you in your search for the ideal property in countries such as Australia, Japan, Korea, China, India and most countries in Europe.
Non-natives seeking to partake in the MM2H plan can choose to let us handle the hassle of finding a suitable property for your stay in beautiful Malaysia. The program has seen tremendous response from the international community since its launch in 2002. Today, the program has registered close to 15,000 expatriates with the number of applicants increasing by the year. In 2010, 1500 applicants tried to Make Malaysia their Second Home.
There are 4 basic requirements to participate in this program
REQUIREMENT 1 - FINANCIAL
Applicants are expected to be financially capable of supporting themselves on this programme in Malaysia.
Upon Application:
1. Applicants aged below 50 years - during the application, applicants are required to show proof of liquid assets worth a minimum of RM500,000 and offshore income of at least RM10,000 per month. Aside from the pay slips, the monthly income must be reflected in the bank statements for the last 3 consecutive months. Alternatively, applicant may use the income tax payment/statement in the country of origin or residence to reflect the minimum monthly income of at least RM10,000
2. Applicants aged 50 years old and above - during the application, applicants need to comply with the financial proof of RM350,000 in liquid assets and off shore income of at least RM10,000 per month. Retirees are required to show proof of receiving pension from government-approved funds of at least RM10,000 per month. The monthly income or pension from government-approved funds must be reflected in the monthly bank statements.
Upon Approval:
Successful applicants are required to comply with the following financial criteria upon receipt of the “Conditional Approval Letter” from Immigration Department of Malaysia.
Upon Approval: Aged Below 50 years old
· Open a fixed deposit account of RM300,000.00 in any local bank in Malaysia
· After a period of one year, the participant can withdraw up to RM150,000.00 for approved expenses relating to house purchase, education for children in Malaysia, car purchase and medical purposes.
· Must maintain a minimum balance of RM150,000.00 from second year onwards and throughout stay in Malaysia under this programme.
Approved participants who have purchased and own property which were bought at RM1 million and above in Malaysia may comply with the basic fixed deposit requirement of RM 150,000 on condition that the property has been fully paid and ownership documents such as grant and land title have already been issued. This amount may not be withdrawn until the participant decides to terminate his participation in MM2H programme.
Upon Approval: Aged 50 years old & above
· Can either choose to:
- Open a fixed deposit account of RM150,000.00 ;
- Show proof of government approved pension funds of RM10,000
· After a period of one year, participant who fulfills the fixed deposit criterion can withdraw up to RM50,000.00 for approved expenses relating to house purchase, education for children in Malaysia, car purchase and medical purposes.
- Participant must maintain a minimum balance of RM100,000.00 from the second year onwards and throughout his/her stay in Malaysia under this programme.
Approved participants who have purchased and owned property which were bought at RM1 million and above in Malaysia may comply with the basic fixed deposit requirement of RM 100,000, on condition that the property has been fully paid and ownership documents such as grant and land title have already been issued.This amount may not be withdrawn until the participant decides to terminate his participation in MM2H programme.
REQUIREMENT 2 - MEDICAL REPORT
All applicants and their dependents are required to submit a medical report from any private hospital or registered clinic in Malaysia.
REQUIREMENT 3 - MEDICAL INSURANCE
Approved participants and their dependants must possess valid medical insurance coverage that is applicable in Malaysia from any insurance company.
However, exemptions may be given for participants who face difficulty in obtaining a medical insurance due to their age or medical condition.
REQUIREMENT 4 - LETTER OF GOOD CONDUCT
Principal applicant will need to produce a Letter of Good Conduct or Police Clearance Certificate from the relevant department issued from the country of origin or residence
For further information or applications of MM2H Visa, please contact Portfolio Asia Properties.
