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 participant’s 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.
