MALAYSIA MY SECOND HOME (MM2h)

Advantages Disadvantages 1) LONG STAY VISA

10 years multiple entry visa. They are

free to come and go as they like

1) NOT ELIGIBLE TO WORK

a) Strictly NOT ALLOW to work as

FULL TIME

b) Strictly NOT ALLOW to work

under people

2) RENEWABLE VISA

The visa is renewable – the applicant

has complied with the terms and

conditions of the programme

2) TAXABLE INCOME

Any income received from within

Malaysian taxes

3) PERMITTED TO WORK

a) Visa holders are permitted to work

in Malaysia either part time only for

applicant above 50 years old

b) Permitted to be an Investor/

actively in their own business only

3) FIXED DEPOSIT

Must to place the Fixed Deposit until

the participant give up the MM2H

4) FOREIGN SPOUSE

Foreign spouses of Malaysian citizen

who were previously excluded from the

programme are now permitted to apply

5) PROPERTY PURCHASE

Permitted to buy most residential

properties costing minimum

RM1,000,000

6) REAL PROPERTY CAPITAL

GAIN TAX

YEAR 2014 – RPGT for disposal within

First 3 years – 30%

4th year – 20%

5th year – 15%

6th year onward - 5%

7) INTEREST RATE FOR LOAN

a) Allow getting all type of loans from

Bank in Malaysia like all the Malaysian

did and enjoy the same rate as the

entire Malaysian have

b) Get the better rate for the

property above RM1,000,000

8) TAX FREE CAR

a) Permitted to buy the 1st car – locally

manufactured or locally assembled car

tax-free in Malaysia

b) Can import their own car from their

previous country of residence or their

country of citizenship

c) Buy a tax free car in Malaysia have

12 months to obtain approval after

collecting their visa

9) TAXABLE INCOME

a) Malaysia does not tax income from

overseas

b) Does not impose any inheritance

taxes

10) AGE AND DEPENDENTS

a) Allowed to bring with their children

under the age of 21 and not married

b) Allowed to bring with their disable

children above the age 21

c) Allowed to being with their parents

BUT NOT include parents in law

11) DOMESTIC HELPER

a) Allowed to bring in on domestic

helper

b) The maid should come from a

country which has been approved by

the governments

c) Application for maid has to be

submitted after the approved of the

MM2H visa