Resources

Foreign Ownership

Quick guide for foreigners

What is good about Malaysia?

Fast growing economy
Politically stable
Multi-Cultural society
Warm weather throughout the year
English is widely spoken
Free of Natural disasters
Rated as 3rd best retirement place in the world & best retirement place in Asia in year 2014 by Global Retirement Index of International Living.com
First world infrastructure
First class medical facilities
Food varieties (East & Western)
4th world's top shopping destination by CNN Travel 2012 and the 2nd best shopping city in Asia Pacific by The Global Shoppe Index 2012
Ranked at 6th spot in the Ease of Doing Business Report 2014 by World Bank's Doing Business 2014. World Bank's Doing Business 2014.

What are the reasons for foreigners to own a property in Malaysia?

No restriction on foreign ownership (Freehold or leasehold title)
Low entry point of property prices from RM1mil and above (applicable to Kuala Lumpur and some states only)
Freedom to transact, rent the property
Liberal Property Financing for foreigners
Legal ownership with English wording documents

Malaysia My Second Home (MM2H) Program

The Malaysia My Second Home Program is regulated by the Malaysian government and is for foreigners to live in Malaysia under a 10-year renewable multiple entry visa.

You can migrate to Malaysia with your spouse and children who are below 21 years old (unmarried). Your children can attend any reputable international schools and colleges in Malaysia. The spouse and children of the applicant will get the same class of visa and the same duration as the main applicant. Children who above 21 years old will have to submit a separate application as an adult.

There is no minimum compulsory number of days stay in Malaysia under this program. As an example you can stay here 365 days a year or just 1 day a year. There is also no limit to your number of entry or exits to or from Malaysia per year.

There are currently about 23,400 families that are staying in Malaysia under the Malaysia My Second Home (MM2H) Program. They are generally from all over the world and specifically from countries like the United Kingdom, Japan, Iran, China, Bangladesh and South Korea. The 2nd Homers migrate to Malaysia for reasons such as a cheaper location to retire, children studying here, warmer climate, good personal security, good infrastructure, stable economy, well regulated investment environment etc.

INVESTMENT, BUSINESS & WORK

Participants of the MM2H Program can also invest in all common classes of assets in Malaysia i.e. property, shares of companies, bonds and fixed-deposits. They can also be owners of businesses such as being a director/shareholder of a company. Those that are above 50 years old can work for up to 20 hours a week in skilled positions. However one needs a further permission from the Immigration Department before he or she can work for 20 hours a week.

EDUCATION

Your children will be able to study using their MM2H Visa (without applying for a specific student visa) at any of the reputable international schools in Malaysia. However they will need to use a student visa if they were to study at the university level.

TAX-FREE OVERSEAS INCOME

There is no tax on money brought into Malaysia, however any income (such as income from house rental) made in Malaysia will be subjected to income tax. There is also no inheritance tax in Malaysia.

TAX-FREE CAR IMPORT

A participant of the MM2H Program is allowed to import a car tax-free as a personal belonging from his country of origin or purchase one here free of sales tax. This means you will get a car cheaper than a Malaysian.
In order to qualify for the tax exemptions, you would have to:

Import a car from your home country/last country of domicile within 6 months from the approval of the Program.
Buy a locally assembled car (including foreign brands) within a year from the approval of the Program.

PARENTS

Parents of the main applicant who are above 60 years can visit Malaysia on a 6 months renewable visitation visa.

MM2H ID CARD

You and your family members will be issued with a special Malaysia My Second Home identification card each, recognised by the Malaysian Police and Immigration Department (* The Immigration Dept has currently stopped issuing this card till further notice).

Notes:
The "Malaysia My Second Home" or the "Malaysia My 2nd Home" or "MM2H" Programme is used interchangeably by different promoters but is the same thing. In some countries it is also known as the "Malaysian long-stay" Program. Before 2001 it was known as the "Silver Hair Programme" where participants mainly chose to retire in Malaysia, but now its for all age groups.