GENERAL
The rules for minimum stay have changed a few times but we understand the current rules require those aged 25 to 49 to spend 90 days a year in Malaysia, Older participants do not have to meet this minimum stay. In the case of those under 50, the time dependents spend in Malaysia can count towards the 90 days not just the principal participant.
Yes, spouses of Malaysian citizens can apply for the MM2H VISA, They can also apply for a spouse visa but it is usually valid for a shorter period,
Approved applicants over 50 do not have to spend a specific time in Malaysia each year. Those aged 25 to 49 are required to spend 90 days a year here although dependents spending time her can count towards this total
If you are not married, you will have to apply separately and you will both need to qualify for the programme.
Unfortunately, having an MM2H visa does not entitle applicants to Permanent Residency and it cannot be converted to PR status. The MM2H visa is a 10-year visa which gives the flexibility for applicant to come in and out of Malaysia as many times as they like without any restrictions.
Setting up a business or buying one is permitted but you are not allowed to become involved in the day-to-day running of the business. In that case you need to apply for a work visa
MM2H applicants are no longer allowed to import or buy a tax-free car.
PROPERTY RELATED
Yes, all approved applicants are required to buy property within one year of receiving the visa.
You can buy new or second hand properties. Each state in Malaysia sets its own rules regarding property purchase. Usually, any property over RM1,000,000 can be purchased by a foreigner but some states have slightly different rules and some states set lower limits for people with the MM2H visa.
Yes, you have to place the fixed deposit although you can withdraw up to 50% to buy property.
FINANCIAL
The fixed deposit placement only has to be made by the main applicant. Dependents are not required to place one.
You can only withdraw the Fixed Deposit when you leave the programme. A partial withdrawal is permitted after one year for property purchase; education; medical bills, or domestic tourism travel cost
If your country has a double tax agreement with Malaysia (such as the UK and Germany), then you can register with the tax authorities in Malaysia, even though you have no tax liability in this country. You can then show this to your home country’s tax authorities, who may authorize your pension to be paid tax free.
Overseas income is not taxable in Malaysia although it may be taxable in the country from which is it paid. Some MM2hers have managed to obtain exemption from their home country taxes on the basis of taking up residence in Malaysia. Any income earned in Malaysia is taxable in Malaysia. There is no inheritance tax in Malaysia. Foreigners are liable to a 30% real property gains tax in Malaysia if they sell within 5 years of acquisition and 5% thereafter.
There is no tax on the interest from the Fixed Deposits which are placed for under RM 100,000. For this reason the banks will usually split your Fixed Deposit into placements which are individually less than that amount.
You may keep the interest on the Fixed Deposit. Interest paid to foreigners varies from bank to bank but is currently around 3.0 percent.
Once you have obtained the MM2H approval you should have no trouble opening a local bank account. In some cases, you can open before your visa is approved.
Most clients will open their FD account once they arrive in Malaysia. Setting up the FD account is simple but transferring the money from your home country to the bank account here can take several days. Due to immigration law, you are only allowed to bring a certain amount of cash with you so make arrangements for this.
If you have other questions about MM2H or would like us to be your agent, please contact us through our free Help Desk.
Our company Borneo Vision (MM2H) Sdn Bhd is an approved agent for the programme. We can submit your application without you being here. You only need to come to Malaysia when it is approved. Check out “Six reasons to use us as your agent”.