Property Purchase
Kindly be informed that property purchase is not a pre-requisite for those participating in MM2H programme.
Foreigners may purchase any number of residential property in Malaysia, subject to the minimum rates established for foreigners by the different states. The minimum purchase price is not standardised as the land is a state matter. Effective 1 January 2010, the minimum purchase price starts from RM500,000 per unit. It is important to check with the relevant state before making any commitment.
It is advisable to buy houses which are already issued with the certificates of fitness. However, if you intend to purchase new houses directly from the property developer, please ensure that it is a reputable company.
Also ensure that your lawyer does a thorough check with the local land office that you have ownership rights to any property that you are purchasing. Profit made on the sale of property is subject to Real Property Gains Tax (RPGT), ranges from 5% to 10%, subject to the period of ownership of the property.
- Purchase of residential unit is exempted from Foreign Investor Committee’s (FIC) approval under the MM2H programme.
- All categories of residential units are allowed for acquisition except for the following:
- low-cost and medium low-cost units (as determined by the state authorities);
- properties built on Malay reserve land – these are units reserved for the Bumiputera; and
- agricultural land developed on the basis of the homestead concept.
- State authority has the discretion to consider the acquisition based on location of properties, number of units purchased in any single project development and type of the properties purchased.
Car Purchase
Each participant is allowed to bring in his/her own personal car or purchase a locally-assembled car and grant exemption of import duty, excise duty and sales tax.
Car Import
Application to import a motorcar from the participant’s country of citizenship/last domicile must be forwarded to the Ministry of Finance WITHIN a period of SIX months from the endorsement date of MM2H social visit pass, on condition that the MM2H participant should be the owner of the motorcar prior to obtaining the MM2H visa (as evidenced in the motorcar registration document).
Locally-Assembled Car
Application to purchase a new car made or assembled locally must be forwarded to the Ministry of Finance WITHIN a period of ONE year from the endorsement date of MM2H social visit pass.
Point to note:
- Submitted application forms complete with relevant documents will be processed within 10 working days.
Click here to view the Application Procedures for Tax/Duty Exemption on Motorcar. Get the Application Form here.
Click here to view the Application Procedure for Bringing in the Personal Car with Tax/Duty Exemptions.
Click here to view the Application Procedure for Bringing in the Second Personal Car. The second car is however subject to taxes and duties.
You can find out how to convert your driving licence here. - Do not make an outright purchase of the motorcar before obtaining approval for tax/duty exemption from the Ministry of Finance. However, a booking for a motorcar may be made prior to obtaining approval.
- Importation or purchase of motorcar is strictly for personal use only. ’Personal Car’ is defined as a car which was purchased by the participant before joining the MM2H programme.
- Participants are allowed to sell their imported/locally purchased car after 2 years on the MM2H programme. Click here to view the application procedure for disposal of the car (previously granted tax/duty exemption).
Children Education
Participants are allowed to bring together their children with them as dependents under the MM2H programme, on condition that their children must be under the age of 21 and is not married. Children who intend to continue their schooling / education in Malaysia are required to apply for a Student Pass. They should also be insured throughout their stay under the MM2H programme. Click here to view the application procedure for registering children into private colleges and universities of Malaysia.
Visa for A Domestic Helper
Participant is allowed to apply for one domestic helper, subject to the prevailing guidelines of the Immigration Department of Malaysia. Click here for the procedure for application of a domestic helper.
Tax Obligation
Participants are bound by the policies, systems and regulations of taxes of Malaysia and they do not qualify for exemption qualifications granted for the Diplomatic Missions in Malaysia. However, tax exemption is given for income remitted into Malaysia. for pension received, participants are required to obtain the endorsement from the authorities in their country of origin as to the total amount of yearly pension received. A copy of this letter has to be submitted in their application.
Working & Doing Business in Malaysia
Participants are prohibited for any type of employments in Malaysia. However, if you wish to work part time in Malaysia, you can submit your application to the following address:
Malaysia My Second Home Centre
Level 23, Menara Dato’ Onn,
Putra World Trade Centre
No. 45, Jalan Tun Ismail,
50695 Kuala Lumpur
Malaysia .
It will take approximately 21 days to process your application and the approval is evaluated by the Expatriate Committee under the Immigration Department of Malaysia. Click here to read more about the Guidelines for Part Time Work in Malaysia under the MM2H Programme.
You are also eligible to conduct business in Malaysia. Under the Companies Act 1965, you are only eligible to register a private limited company with Companies Commission of Malaysia (CCM) in Malaysia, with minimum capital investment of RM250,000.
Bringing in Pets
You are required to check with the Veterinary Import Regulation to confirm that your pet can be brought into Malaysia. Please visit the Department of Veterinary Services of Malaysia at http://www.dvs.gov.my. You can find out more about the procedure for bringing in pets here.
