Plan allows for 10-year stay
in Malaysia
05/06/2006 The Star
MALAYSIA, My Second Home (MM2H) programme is promoted by the Government to
allow people from all over the world who fulfil the stipulated criteria to
stay in the country for as long as possible on a social visit pass with a
multiple entry visa.
The social visit pass is initially for a period of 10 years (depending on
the validity of the applicants’ passport) and is renewable.
Among the benefits under the programme are:
Those who qualify for the
programme are offered a 10-year social visit pass and multiple-entry visa.
After 10 years, renewal is
guaranteed if there is no violation of laws and rules of Malaysia.
During these 10 years, the
person is free to stay in Malaysia and travel as often as he likes.
He can import his car or
purchase a new completely knocked down car tax-free.
School-going children will be
giving student pass to further their studies at international colleges and
universities.
Can bring in a maid from the
country of origin to Malaysia after the approval.
Can be an investor and own
businesses in Malaysia.
For housing loan, can obtain up
to 80% as compared to the normal 60% for foreign applicants (subject to
credibility).
No need to obtain Foreign
Investment Committee (FIC) approval for purchasing properties in Malaysia.
For participants from countries
that have double taxation agreement with Malaysia, their pension fund that
are remitted to Malaysia will be exempted from tax if the person has
stayed more than 184 days in the country.
