MM2H FAQ | Wanda MM2H Sdn Bhd | Malaysia My Second Home

Frequently Asked Questions

Check out for any quick answers to some of the frequently asked questions by the applicants of MM2H

FAQ ON MM2H

Have More Questions?

Most of the questions you may have on MM2H, someone else may have asked too. We have compiled the answers for all the frequently asked questions we have encountered so far for your easy reading here.

Can I withdraw my fixed deposit any time during my stay in Malaysia?

A: Some banks allow periodical withdrawals of interest earned on your Fixed Deposit. This is subject to the bank's policy and negotiation at the time of opening your account with the bank concerned. Please refer to banking portal www.bankinginfo.com.my for current rates and terms.

#fixeddeposit

Can I place the fixed deposit in a Malaysian bank located in my Home country?

A: No. The fixed deposit account must be opened in any Malaysian bank or financial institution located in Malaysia.

#fixeddeposit

Can the purchase of a house in Malaysia valued at more than RM500,000 be considered as having fulfilled the financial criteria for MM2H programme?

A: No. Participants are required to fulfill the fixed deposit requirement or monthly off-shore income for those aged 50 years and above.

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Am I allowed to withdraw my fixed deposit for a few months and then topped it back later?

A: No. Participants are required to place their fixed deposits on annual auto renewal basis.

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When can I withdraw my fixed deposit?

A: After a period of one year, the participant may withdraw his/her fixed deposit for approved expenses relating to house purchase, education for children in Malaysia and medical purposes OR when he/she decides to terminate his/her stay in Malaysia by first informing the Ministry of Tourism and Culture Malaysia of his/her intention at Malaysia My Second Home Centre. Participants can apply to withdraw part of their fixed deposit for emergency cases such as medical purposes, etc. with prior approval of the Ministry of Tourism and Culture Malaysia.

#fixeddeposit

Can I transfer my Fixed Deposit Account tagged under MM2H Programme from one bank to another?

A: No. MM2H participants are not allowed to transfer Fixed Deposit Account tagged under MM2H Programme.

#fixeddeposit

Do kindergarten level child need a Student Visa to attend kindergarten here?

A: Children below the school going age (that is 7 years old) are not required to apply for a Student Visa. They need only to apply for permission to study at Immigration Department.

#education

If my children are already married and want to study in Malaysia with their Spouse, do they need to pay the fixed deposit?

A: Not necessary. They can apply for a Student Visa once they have obtained places of study in Malaysia.

#education

Is it a pre-requisite I must purchase a property or a house in malaysia in order to apply for MM2H?

A: No. Property purchase is NOT a pre-requisite for participating in MM2H programme.

#house, #properties

Do the MM2H participants have any special entitlements in purchase of property in Malaysia?

A: All MM2H participants are allowed to purchase residential properties at the minimum purchase price for foreigners established by the respective state governments. The current minimum price (March 2014) is RM500,000.00 for most states.

#house, #properties

Can I purchase a house for residential purpose and a shop lot to be rented out?

A: No, you are only allowed to purchase residential properties.

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Do I have to pay the yearly assessment and quit rent for my houses like the locals?

A: Yes.

#house, #properties

In the event of unforeseen death is the participant able to hand over his Malaysian assets to any of his beneficiaries smoothly. Does the Government have any restriction on this matter?

A: No. Participants may transfer their property to their next-of-kin provided they have made a will to this effect. In the event of lack of documentation, the next-of-kin may claim the inheritance upon proof of identity and kinship.

#house, #properties

Must foreigners buy new Malaysia property only, such as from developers, or can they purchase any property, such as from individual owners (second hand or third hand property)?

A: Participants can purchase any type of housing properties provided that they have been issued with CF (Certificate of Fitness).

#house, #properties

Can I keep pets in my condominium?

A: The By-laws of the Strata Title Act state that a parcel proprietor is not allowed to keep any animal in his parcel or on the common property which may cause annoyance to any other proprietor.

#house, #properties

Is MM2H participant allowed to do business in Malaysia?

A: No. The MM2H Pass is a Social Visit Pass and allows MM2H participant for long-stay in Malaysia. If MM2H participant intends to do business, he/she would need to terminate the MM2H Pass.

#business

I am a retiree. What proof I need to show to justify for minimal monthly income of RM10,000?

A: You can use your rental income in your home country as the supporting document. You need to submit at least 3 months of rental proceeds and rental agreement. Or if you receive a monthly income from a private retirement fund (may be from your former employer) or provident fund (example: CPF of Singapore).

I am interested to invest in Malaysia. Who can I contact to get more information?

A: You can contact the Malaysia Industrial Development Authority at:

MIDA Headquarters
Malaysian Industrial Development Authority (MIDA)
Block 4, Plaza Sentral,
Jalan Stesen Sentral 5, Kuala Lumpur Sentral,
50470 Kuala Lumpur, Malaysia.
Tel: 603-2267 3633
Fax: 603-2274 7970
Website : www.mida.gov.my
Email: investmalaysia@mida.gov.my

#business

What are the documents required for application through MM2H agents?

A: For applications through MM2H appointed agents, these are the documents needed:

1. Letter of Application (by the applicant)

2. One copy of resume by the main applicant which include the following information Academic qualification Working experiences Skills or expertise acquired

3. One (1) copy of MM2H Application Form - can be downloaded from MM2H website Note: Applicant and all the dependents have to complete the form individually

4. Three (3) copies of IM.12 Form (Social Visit Pass) One (1) original copy - can be downloaded from MM2H website/obtained at Immigration Department Two (2) Photostat copies Note : Applicant and all the dependents have to complete the form individually

5. Four (4) coloured passport size photographs

6. Copy of Passport/Travel documents (all pages) with certification on the pages with personal particulars Note : Copy of previous passport is required if applicant/dependent (s) has renew his/her passport within the last 12 months.

7. Personal bond * (must be completed and signed by Malaysian who is one of the Board of Directors/Shareholders/Managing Director/Manager from the appointed MM2H licensed company) Note : Personal Bond is to be submitted for main applicant only

8. Letter of Good Conduct from your relevant government agency The police authority of the applicant’s home country; or The Embassy of the applicant’s home country based in Malaysia provided that the LGC issued by the Embassy has made a reference to the respective police authority and the LGC must be attested by the Embassy.

9. Self declaration on your/dependents health conditions - Form can be downloaded from MM2H website

10. Certified copy of Marriage Certificate (if accompanied by spouse)

11. Certified copy of Birth Certificate/legal documents (if accompanied by children/adopted children/step children/parents) Letter of Confirmation from Medical Specialist/General Practitioner (if accompanied by disabled children above 21 years old) Statutory Declaration by principle applicant to bear all expenses and financial requirements during the stay in Malaysia for dependents;

12. Certified copy (s) of latest 3 months’ bank statements/other related financial document(s) to indicate the financial capability to support stay in Malaysia

13. Latest 3 months certified copies of pay slip / income statement (if employed) / pension slip etc;

14. Authorization letter from applicant to Malaysia My Second Home Centre to verify the financial documents, job and salary with the relevant parties.

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