To receive an investor visa in Malaysia the best service to receive is the Malaysia My Second Home (MM2H) which is recognized as the best and popular visa service in the world. MM2H was started in 2002, which during that time they approved more than 42,000 cases. The cases mostly come from Chinese, but the investor visa service is also famous in Japan, Bangladesh and United Kingdom.
Overall, the investor visa in Malaysia program is only for residency investment and it is not for any citizenship purpose.
Program and process of MM2H:
- The immigration process of this visa can allow a person to stay for a duration of 10 years
- Requirement of “medical report” for the applicants and also the members along the applicant are supposed to show the medical report from any Malaysian private hospital.
- Requirement of “medical insurance” for the applicants and members. There should be a valid medical insurance for them to cover their stay in the country.
- They can apply for a maid but only one maid who is according to the obligations of Immigration Department of Malaysia.
- The applicants are allowed to apply for an ID card from the Immigration Department of Malaysia
- Every applicant is allowed to buy a residential house in the country for a price above MYR 1M in places like Kuala Lumpur and Penang where there is pre-approval by foreign investment committee in Malaysia. But if the visa applicants are a part of Sarawak in MM2H then they are allowed to reside in any part of Malaysia.
- The Government of Malaysia has decided to establish the tax incentive on the purchase of new locally arranged vehicle and import of used vehicle to the country under the program of MM2H.
- The applicants under MM2H who has brought their children to Malaysia can educate their children in the country who are below age 21 and not married. While the children are continuing their education in the country, they need to receive a student pass to continue studying. However, during this period the immigrants need to take care of their own expenses which also includes education cost.
- Tax exception is allowed for remittance for offshore pension fund in the country. But foreign resources are not taxable in the country.
- Above 50 years can work part-time in Malaysia
- Import of personal, household items and exemption in tax
- Investment in companies which are local, share market and unit trusts
- Interest gained from bank fixed deposit is tax exemption
- Parents who can join for long-term visa
Eligibility to apply:
- A successful applicant can bring their spouse along with them they can also bring their children who is under 21 and not married. The applicant can also bring their parents with them who are over 60 years old.
- MM2H services is open to all countries and everyone who has different country passports
- The applicants should be below 50 years
- They should show a minimum amount of USD$125,000 in their assets and also proof of monthly income of minimum USD$2,500.
Restrictions in MM2H:
- The applicants are not supposed to work or employ themselves during the stay in the country. The employment visa should be directly applied by the person to the Immigration Department of Malaysia.
- The applicants should not be involved in functions that can be known to local people in Malaysia which can be a sensitive issue and will also become a threat for the country’s security
- If Malaysia cannot recognize any country which also includes Israel in list, then the unrecognized countries will be prohibited.
Process of application:
- The application can be done through a number of private Malaysian companies which can also be called as sponsors for the application and services offered to foreigners.
- If there is any increase in charge and when there is a lot of change in the services given from one person to another then the authorized company licensed by the Ministry of Tourism can give MM2H members.
- The Sarawak program in MM2H does not allow the utilization of commercial sponsors.
- The applicant must be approved by the Malaysian originating from Sarawak Permanent Resident
- From January 2009 the Malaysian government allows individual application. It will not be necessary for the applicants to use agents or any other 3rd party.
- Applications who wish to live in Peninsula Malaysia, they will be accepted at MM2H in the one-stop center in Kuala Lumpur where most applicants are sent to their assigned Immigration offices.
- The documents are to be submitted in English and the documents to be required is also mentioned in English at the government site
- The applicants can apply by their own but for members of Sarawak MM2H it is a must to appoint an agent. The agents charge form MYR 8,000 to MYR 10,000 and also there are agents who charges for low cost MYR 1,800. You may know about the online business opportunity in Malaysia.
The investment visa can be applied through MM2H services.
It is Malaysia My Second Home (MM2H) it is service provided from the Malaysian Tourism Authority and the Immigration Department of Malaysia.
*The age limit is from a legal age till 50 years
*They can bring their wives and children under 21 and who are not married
*The applicants can also bring their parents who are older than 60 years
They should show a minimum amount of USD$125,000 in their assets and also proof of monthly income of minimum USD$2,500.
The visa is valid for 10 years.
Read Also: Process of visa application in Malaysia