MM2H visa permit Benefits & Incentives
Once your application is successful, there are various benefits & incentives provided as below:
MM2H Visa Permit
Any foreigner may purchase any number of residential property in Malaysia, subject to the minimum price established for foreigners by the different states. They start from RM500,000 per unit for most states, from 1st March 2014. Land is a state matter and it is important to check state laws before making any commitment, as the minimum purchase price is not standardized between states.
List of minimum price for purchase a property for each state
Each participant is allowed to bring in his/her own car (used) or purchase a new locally-assembled car without having to pay import duty, excise duty and sales tax. However, they must apply for prior approval within the 6month / 1years time period given by the Finance Ministry and Ministry of International Trade and Industry. Participants are only allowed to sell their imported/locally purchased car after 2 years stay on the MM2H programme by paying the prevailing duties.
Each applicant can apply for one maid subject to the prevailing guidelines of the Immigration Department
MM2H participants are allowed to bring their children who are below 21 years old and not married as their dependents.
Tax Exemption is given to remittance of offshore pension fund into Malaysia & any other foreign funds transferred into Malaysia.
Business & Investment
You can own and actively run your own business, terms apply. Generally any MM2H visa holders can own their own business as Directors without the requirement of any Local Malaysians, terms apply.
Working Part Time
Over 50 year olds can work part time, terms apply.
MM2H Visa Permit Requirements
BEFORE APPROVAL Applicants are required to comply with the following financial criteria upon successful submission of their MM2H application
AFTER APPROVAL Successful applicants are required to comply with the following financial Fixed Deposit placements upon receipt of the conditional approval letter from Malaysia Immigration Department
Aged Below 50 years
New applicants who have purchased and owned residential property which has a PAID amount of RM 1 million and above in Malaysia are eligible to apply for exemption from placing the full FD amount required of participants. They only have to comply with the basic financial requirement of FD of RM 100,00 for over 50 & RM 150,000 for under 50 respectively. This amount may not be withdrawn until the participants decide to terminate their participation in MM2H programme.
New applicants who have purchased and owned residential property which has a PAID UP amount of RM1 million and above in Malaysia are eligible to apply for exemption from placing the full FD amount required. They only have to comply with the basic financial requirement of FD of RM100,000 for over 50 & RM150,000 for under 50 respectively.
All applicants and their dependents (spouse and children) are required to submit a medical report from any private hospital / registered clinic in Malaysia after Approval.
Approved participants and dependents (spouse and children) must possess a valid medical insurance policy, which is applicable in Malaysia. If any applicants are above 59 years old then this requirement is waived. This is also required after approval.
Courtesy of http://mm2h.co
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