mm2hupdate
T
he Malaysia My Second
Home (MM2H) programme
has proven to be a popular
initiative by the Malaysian
government. Launched
in 2002, the programme has attracted
people from all over the world with
China, Japan, Bangladesh, and the
UK topping the list of nations whose
citizens have been approved as MM2Hers.
Altogether, over 35,000 applications have
been approved in the 17 years since the
MM2H programme began.
The government has not promoted the
programme that heavily, so people often
hear about it through word of mouth. It
Malaysia My
Second Home
Programme
is primarily aimed at people who want
to retire to Malaysia, as employment in
the country is not encouraged under
the programme, although it is possible
to work for a local company for up to 20
hours a week with approval.Applicants must show a monthly income
in excess of RM10,000 (equivalent in
foreign currency) and show liquid assets
in excess of RM350,000 (RM500,000 if aged
under 50). Upon approval, visa holders
must place a fixed deposit in a local bank
of RM150,000 (RM300,000 if under 50).
Many people are attracted by the low cost
of living, warm weather, friendly people,
great food, and the fact the Malaysiangovernment does not tax overseas income.
Upon approval, MM2H applicants receive a
10-year visa which is renewable.It should be noted that there is no
requirement to buy property in Malaysia
or indeed even to relocate here. In fact,
some applicants from troubled countries
only apply so they have a place to relocate
should they feel problems in their own
country are getting worse.The most popular places MM2H visa
holders choose to live are Penang and
Kuala Lumpur. Other places which have
attracted visa holders are Ipoh, Melaka,
Sabah, and Johor.