Financial Requirement

Successful applicants required to comply with the following financial criteria upon receipt of the 'conditional approval letter' from Malaysia Immigration Department.

Applicants are expected to be financially capable of supporting themselves for ten years on this programme in Malaysia, without the need to work in the country.  Besides fulfilling the basic financial criteria of Fixed Deposit placement of RM150,000 (for those aged 50 and above) or RM 300,000 (for those aged below 50), applicants should furnish documentation on their financial position to strengthen their application.

i.    Aged Below 50 years old

• Open a fixed deposit account of RM300,000.00.
• 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 and medical purposes.

• Show proof of monthly income of RM10,000.

Must maintain a minimum balance of RM150,000.00 from second year onwards and throughout stay in Malaysia under this programme.

ii.   Aged 50 years and above

• Open a fixed deposit account of RM150,000.00 OR

• Show proof of monthly off-shore income of RM10,000.00 such as pension scheme.

• Only applicants who are drawing from Government Approved Funds can be considered for the   " Monthly off - Shore Income " criteria.

• After a period of one year, participant who fulfills the fixed deposit criteria can withdraw up to RM50,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.

Participant must maintain a minimum balance of RM60,000.00 from the second year onwards and throughout stay in Malaysia under this programme.

Purchase of Property RM1 million and above

Effective 1 July 2008, new applicants who have purchased and owned residential  property which were bought at RM1 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 RM 60,000. This amount may not be withdrawn until the participants decide to terminate their participation in MM2H programme.

i.    Applicant age 50 and below
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 RM150,000.00 on condition that the propery 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.

ii.    Applicant age 50 and above
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 RM100,000.00 on condition that the propery 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.

New applicants have to observe the following conditions:

1. The purchased residential  property may be a fully-completed unit or one under construction.  For any property purchased, applicants aged below 50 and those aged 50 and above must produce copies of payments made to  developers, amounting to a minimum of  RM 300,000 or RM 150,000  respectively, in place of the required Fixed Deposit under this programme.    This amount does not include legal fees, transfer fees, commissions and any other related payments.
2. The property must cost a minimum of RM 1 million OR
3. Several  properties  totalling RM 1 million and above can be accumulated for this exemption.
4. The exemption may be considered for residential property which was bought within 5 years of application to participate in MM2H programme.

The following documents are required to be submitted for the financial exemption :
•    Certified copy of Sale and Purchase Agreement
•    Certified copy of Transfer of Ownership /Transfer of Deeds(if applicable)
•    Proof of mortgage loan payment ( if applicable)
•    Proof of Quit Rent/Assessment Rate Bill payment (if applicable)
•    Certified copy of Title Deed/Land Title (if applicable)

The supporting documents must be submitted together with the new application to Malaysia My Second Home Centre. 

Note

1. Successful applicants need to open their fixed deposits in Ringgit Malaysia (RM) only.
2. Participants need to obtain prior approval from Ministry of Tourism before proceed to withdraw the fixed deposit.
3. Participants under this programme may withdraw their entire fixed deposit anytime should they decide to terminate their stay in Malaysia under this programme. However, they must obtain prior approval from the Ministry of Tourism.

Medical Report

All applicants and their dependents (spouse and children) are required to submit a medical report from any private hospital / registered  clinic in Malaysia.

Medical Insurance 

Approved participants and dependents (spouse and children) must possess a valid medical insurance policy which is applicable in Malaysia.