Malaysia My Second Home (MM2H)

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  • MALAYSIA MY SECOND HOME (MM2h) Advantages 1) LONG STAY VISA 10 years multiple entry visa. They are free to come and go as they like Disadvantages 1) NOT ELIGIBLE TO WORK a) Strictly NOT ALLOW to work as FULL TIME b) Strictly NOT ALLOW to work under people 2) RENEWABLE VISA The visa is renewable the applicant has complied with the terms and conditions of the programme 2) TAXABLE INCOME Any income received from within Malaysian taxes 3) PERMITTED TO WORK a) Visa holders are permitted to work in Malaysia either part time only for applicant above 50 years old 3) FIXED DEPOSIT Must to place the Fixed Deposit until the participant give up the MM2H b) Permitted to be an Investor/ actively in their own business only 4) FOREIGN SPOUSE Foreign spouses of Malaysian citizen who were previously excluded from the programme are now permitted to apply 5) PROPERTY PURCHASE Permitted to buy most residential properties costing minimum RM1,000,000
  • 6) REAL PROPERTY CAPITAL GAIN TAX YEAR 2014 RPGT for disposal within First 3 years 30% 4th year 20% 5th year 15% 6th year onward - 5% 7) INTEREST RATE FOR LOAN a) Allow getting all type of loans from Bank in Malaysia like all the Malaysian did and enjoy the same rate as the entire Malaysian have b) Get the better rate for the property above RM1,000,000 8) TAX FREE CAR a) Permitted to buy the 1st car locally manufactured or locally assembled car tax-free in Malaysia b) Can import their own car from their previous country of residence or their country of citizenship c) Buy a tax free car in Malaysia have 12 months to obtain approval after collecting their visa 9) TAXABLE INCOME a) Malaysia does not tax income from overseas b) Does not impose any inheritance taxes
  • 10) AGE AND DEPENDENTS a) Allowed to bring with their children under the age of 21 and not married b) Allowed to bring with their disable children above the age 21 c) Allowed to being with their parents BUT NOT include parents in law 11) DOMESTIC HELPER a) Allowed to bring in on domestic helper b) The maid should come from a country which has been approved by the governments c) Application for maid has to be submitted after the approved of the MM2H visa