Benefits of Malaysia My Second Home Programme

Benefits of Malaysia My Second Home Programme
02/08/2007 The Star By Pang Hong Yee

Successful applicants under the Malaysia My Second Home programme stand to enjoy special benefits, which include:

* Individuals will receive a 10-year Social Visit Pass and Multiple-Entry Visa.

* The Social Visit Pass is renewable upon expiry after 10 years, if no laws are broken.

* In the tenure of these 10 years, individuals are free to stay in Malaysia and travel as often as they wish.

* Individuals may import their existing car or purchase a new car (CKD) tax-free, translated in savings of up to 33%.

* Children of successful individuals are given student pass to further their studies at international colleges and universities in Malaysia.

* Maids can be brought over to Malaysia upon approval.

* Individuals may invest and set up their own businesses in Malaysia.

* Individuals may obtain credit facility of up to 80% for housing loans, compared to 60% for foreign applicants. Individuals are exempted from obtaining special approval via the Foreign Investment Committee (FIC) for property purchase in Malaysia.

* Overseas income of individuals from countries with a “double taxation agreement” with Malaysia will not be taxed, if they stay beyond 182 days in Malaysia.