Frequently Asked Questions About MM2H Program

Dependents	Eligibility	Fixed Deposit
How To Get A Sponsor	Condition of Approval	Tax
Incentives	Employment	Property
Car and Driving License

What is Malaysia My Second Home program (MM2H Program)?
Malaysia My Second Home program was initiated, organized and launched by the Malaysian Government to allow people from all over the world (except for nationals of Israel and Yugoslavia), who fulfill certain criteria, regardless of race, religion, gender or age to stay in Malaysia.

Malaysia my second home program requirements - Applicants are allowed to bring with them their spouse and children as dependents for residing in malaysia. Successful applicants will be granted a Social Visit Pass for a period of 10 years, which is renewable (subject to the validity period of their passport)

DEPENDENTS

Who qualifies as dependents?
Applicants may apply for their spouse and children (under the age of 18) for mm2h program. We recommend you apply with family members when possible to improve your chances of approval. All persons must be shown to be financially dependent on the applicant to qualify as a dependent.

What is the future for my children under this Malaysia 2nd home program?
All children of successful applicants are permitted to stay in Malaysia until 18 years old Upon reaching 18 years old, they can opt to further their education in Malaysia, in any of the reputable colleges, institutes and world-class universities under Student Pass of Malaysia.
After graduating with diplomas and degrees in malaysia, they can then seek employment in Malaysia under Work Permit or to renew as an individual adult under their parents for which they must fulfill the criteria for individual application

What is the maximum age for children to apply under MM2H family application?
All children must be less than 18 years old can apply for the Malaysia my second home program application.

Can we include children who are currently schooling in Malaysia?
No, children who are already under Malaysia's Student Pass are not allowed to apply under this program.

Can we include children who are disabled and want to located in Malaysia?
Yes. You can. There are many institutions and medical hospitals are here to support and get better treatment in Malaysia. One of the important reasons people move to make Malaysia their second home country is natural environment, climate, resource and sea which, gives pleasure to sick people to recover well.

ELIGIBILITY FOR APPLYING MALAYSIA

Who are eligible to apply Malaysia my second home?
It is open to all citizens of countries recognized by Malaysia regardless of race, religion, gender or age. Click here for detail Malaysia my second home program requirement
**Refer Requirements File**

Applicants either single or married with spouse and children
BELOW 50 YEARS OLD	50 YEARS OLD AND ABOVE
Open a Fixed Deposit Account of RM300,000.00 in a local bank in Malaysia	Either choose Open Fixed Deposit Account of RM150,000.00 in a local bank in Malaysia Or have a current monthly off-shore income of RM10,000.00. (remuneration from Company, Retirement Pension, any other return from Investments (consistent)

REQUIRED FIXED DEPOSIT FOR RESIDE IN MALAYSIA

Can I withdraw my fixed deposit after successfully joining this mm2h program?
Participants must maintain their fixed deposit at all times under this Malayisa my second home program unless approval is granted by the Ministry of Tourism of Malaysia. Participants may withdraw the fixed deposit at any time should they decide to end their stay in Malaysia under this program.

However, after a period of one year, mm2h participant can withdraw fixed deposit as approved expenses relating to purchase of house, education for children in Malaysia and medical expenses and must maintain a minimum balance of RM150,000.00 (for participants below the age 50) and RM50,000.00 (for participants above the age of 50) from second year onwards and throughout stay in Malaysia under this programme.

Which banks am I required to place my fixed deposit?
The fixed deposit can be made at any financial institution, (including foreign banks with local branches) in Malaysia.

HOW TO GET A SPONSOR IN MALAYSIA

10.

Do I need a sponsor?
Yes. All applications are advised to have a local sponsor.COPA MY 2ND HOME (MM2H) SDN BHD is an Official Sponsor to promote this program.

11.

How to get a sponsor to assist in this MM2H application procedure?
You can contact us by our email address:enquiry@copamy2ndhome.com

12.

How long will it take to know if my mm2h application has been approved?
All applications that fulfill the criteria should under normal circumstances be processed and approved within 30 working days after submission of the application.

13.

Do I have to stay in Malaysia after joining this program?
No. After completing your landing visit to Malaysia home, you are free to enter and leave the country without any restrictions.

14.

Can applicant who is in Malaysia for a long time, apply for this Malaysia home program?
Provided the applicant fulfill all the requirements and applicant is in possession of a valid Social Visa Pass at the point of application. Application can be made in Malaysia.

15.

Upon joining this program, can I apply for Permanent Residency in Malaysia?
Yes. Applicants may apply for Permanent Residency in malaysia after holding the Social Visit Pass for a minimum of five or ten years. However, the Immigration Department in Malaysia does not guarantee that you will successfully obtain a permit to stay permanently.

CONDITION OF APPROVAL FOR MM2H Program

16.

What is Condition of Approval and how to fulfill it?
Once your application for MM2H program is approved, you will obtain the Condition of Approval. Within six months, you have to make a landing visit to Malaysia. We will then assist you to open your fixed deposit account in Malaysia, have the medical examination and purchase the health insurance policy.

17.

How do I obtain the Social Visit Pass in Malaysia?
Upon fulfilling all the conditions of approval, we will then accompany you to the Immigration Department of Malaysia in Putrajaya to process the Social Visit Pass and Multiple Entry Visa for Malaysia.

18.

Do I need to be in Malaysia when applying for a renewal?
Yes, you must apply for renewal three (3) months before the expiry date and must be in Malaysia for their passport to be endorsed. COPA MY 2ND HOME (MM2H) SDN BHD can assist you for this renewal at a nominal fee.

19.

How do I select which insurance policy to purchase and what type of medical check up?
We can assist and advise you in arranging the correct insurance policy in malaysia and also the appropriate medical check up to perform to reside in Malaysia. All medical check up must be done in Malaysia.

TAX IN MALAYSIA

20.

Do I need to pay tax on interest income made in Malaysia?
Interest earned by an individual through this program is exempt from tax for: -
(i) Fixed deposit for periods of 12 months or more;
(ii) The first RM100,000 of the fixed deposit for periods less than 12 months. The present interest income tax rate is approximately 29%.

21.

Do I need to pay Income Tax in MM2H Program? (if participants are under employment)
It is not necessary to pay offshore income tax in Malayisa my second home program. However, you must pay domestic income tax for income generated within the country.

INCENTIVES FOR LIVING IN MALAYSIA

22.

What are the main incentives of this Malaysia second home program?
All successful applicants will enjoy the following benefits.

(i)	Purchase up to unlimited residential/ landed properties in Malaysia (both freehold and leasehold permitted)
(ii)	Bring or purchase one passenger vehicle tax-free (savings up to 300% in tax on a single vehicle)
(iii)	High-interest rates for fixed deposits (currently between 3.5-4.0% annual yield)
(iv)	Tax exemption on interest earned through the fixed deposit
(v)	Bring one domestic helper along with you or hiring a foreign maid from countries approved by Malaysian Government
(vi)	Flexibility of staying in Malaysia for as long as you wish (without the one-month limitation of most tourist visas)

EMPLOYMENT IN MALAYSIA

23.

Can successful applicants be allowed to seek employment in Malaysia?
Participants aged 50 years and above whom are qualified and experienced are allowed to apply for employment in sectors approved by the Government of Malaysia.

24.

What about setting up my own business in Malaysia?
Businesses are required to be registered with the Companies Commission of Malaysia (CCM) under the Companies Act 1965. Participants are only eligible to register a limited company in Malaysia

PROPERTY IN MALAYSIA

25.

Can the purchase of property in Malaysia be considered as having fulfilled the financial criteria for mm2h program?
Terms and conditions do apply for exemption from Fixed Deposit requirement as a requirement for financial requirement for MM2H program. Purchased properties must be supported by legal documents and worth of not less than RM1 million.

26.

Are there any price restrictions on purchasing property in Malaysia?
Participants are allowed to purchase unlimited number of residential properties at minimum price of RM250,000.00 per unit depending on location of the property. Profit from the sale of residential property is exempted from Real Property Gains Tax.

27.

Can I apply for local financing from a bank in Malaysia if I purchase a house in Malaysia?
Yes. You may apply for a loan of up to 60% of the value of the property in Malaysia.

CAR AND DRIVING LICENSE IN MALAYSIA

28.

What incentives do I have to purchase a car for use in Malaysia?

(i)	Import one car subject to approved permit (AP), which is exempted from import duty, excise duty and sales tax.
(ii)	Purchase one locally assembled car (including foreign brands) in Malaysia which is exempted from payment of excise duty and sales tax.

29.

Are there any time limitations to purchasing a car in Malaysia?
Yes. You must apply to purchase your car within 12 months from the date you receive your Social Visit Pass. Processing of applications takes about 2 weeks.

30.

If I purchase a second-hand car locally, is the purchase subject to sales tax in Malaysia?
No. The government does not levy sales tax and excise duty on the private sale of a car. You are advised to purchase new car on the reason that the second hand used by the locals had already incurred all sorts of taxes and duties and it may be more expensive than a new car.

31.

Do I need to take a driving test to drive in Malaysia?
Malaysia recognizes all international driving license provided your original license is still valid.

32.

How would I know if Malaysia is suitable for me for My Second home?
We can arrange a familiarization trip for you to visit Malaysia so that you can evaluate the advantages of retiring in Malaysia. Our travel agency offers this service to you and guide you the pros and cons of residing Malyasia as your second home .