November 19, 2018
 

Incentives

incentives

Participants of Malaysia My Second Home Programme are provided with various incentives to make their stay more comfortable and enjoyable in Malaysia.

House Purchase
Participants are allowed to purchase residential properties priced at a minimum of RM 250,000.00 per unit, depending on the location of the property. As such, please refer to the category of the state requirement:-

 No.  Location of Property     Min. Price of Property

  1.          Other states                        RM250,000.00

  2.     Sabah and Sarawak                 RM300,000.00
             (Kuching, Miri)

  3.          Selangor                             RM500,000.00

  4.         Terengganu                         RM750,000.00

Download application procedure for property acquisition.

Car Purchase / Import

Car Purchase
Each participant is allowed to bring in a personal car OR to purchase a locally-assembled car without the need to pay import duty, excise duty and sales tax within 6 months of the endorsement of the MM2H Visa in their passport. (Savings of up to 40% of local car sales value.) Participants are only allowed to sell their imported / locally purchased car after 2 years by paying the prevailing duties.

Car Import
Application to IMPORT a motorcar from the participantís country of citizenship/last domicile must be forwarded to the Ministry of Finance within a period of six months from the endorsement date of Malaysia My Second Home (MM2H) social visit pass. The condition for such importation is 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
An Application to PURCHASE a new motorcar made or assembled in Malaysia must be must be forwarded to the Ministry of Finance within a period of one year from the endorsement date of Malaysia My Second Home (MM2H) social visit pass.

Download application procedure for bringing-in personal car.

Download application procedure for bringing-in a second vehicle.

Domestic Helper
Each applicant is allowed to apply for one maid subject to the prevailing guidelines of the Immigration Department of Malaysia. (Existing maid / domestic helper base in the MM2H applicants present country can join the MM2H employer in Malaysia also.)

Download application procedure for bringing-in a maid.

Education
Applicants are allowed to bring their children who under 21 years old and not married as their dependants under this programme.

Children who intend to continue their schooling in Malaysia are required to apply for a Student Pass and should be insured throughout their stay under this programme.

Download application procedure for childern education.

Tax
Participants are bound by the policies, systems and regulations of taxes of this country and they do not have exemption qualifications as granted to Diplomatic Missions in Malaysia.

However, tax exemption is given to pension remitted into Malaysia. 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.

Download application procedure informing inland revenue board on income earned in Malaysia.

Business and Investment

Guidelines For Business Set Up Under The Malaysia My Second Home Programme

Registering Your Business

You are required to register your business with the Companies Commission of Malaysia (CCM) under the Companies Act 1965. You are only eligible to register limited company in Malaysia.

Company Structure

The Companies Act 1965 governs all companies in Malaysia. The Act stipulates that a person must register a company with the SSM in order to engage in any business activity.

It provides for three types of companies:

A company limited by shares where the personal liability of its members is limited to the par value of their shares and the number of shares taken or agreed to be taken by them

A company limited by guarantee where the members guarantee to meet liability up to an amount nominated in the Memorandum and Articles of Association in the event of the company being wound up

An unlimited company, where there is no limit to the members' liability.


MM2H Sponsors

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