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My Second Home Info 1
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Why reside in Malaysia
about Malaysia My Second Home Program
Frequently Asked Questions
What other benefits do I enjoy?
Am I required to stay in Malaysia after joining this programme?
- Allowed to purchase up to two properties with more than RM150,000 each in Malaysia (freehold and leasehold permitted)
- Flexibility of staying in Malaysia as long as you wish without the one month limitation of most tourist visas
After completing your landing visit to Malaysia, you are free to enter and leave the country without any restrictions.
Can I extend the programme after the initial 5 years?
Yes. If you fulfill the criteria setforth at the time of renewal, the Social Visa Pass will be renewed.
Can I apply for Permanent Residency after joining this programme?
Yes, applicants may apply for Permanent Residency after holding the Social Visit Pass for a minimum of five years. However, please note that the Immigration Department in Malaysia does not guarantee that you will successfully obtain a permit to stay permanently. As long as you meet the application criteria, the renewal of the Social Visit Pass should not be a problem.
What about my dependents?
Applicants may submit their spouse and children under the age of 18 as dependents. All other persons must be shown to be financially dependent on the applicant to qualify as a dependent.
What is the length of time taken for the approval process?
Most applications will either be approved or rejected with one month.
The Fixed Deposit Required
Can I withdraw my fixed deposit after successfully joining this programme?
Participants must maintain their fixed deposit at all times under this programme unless approval is granted by the Immigration Department. Participants may withdraw the fixed deposit at any time should they decide to end their stay in Malaysia under this programme.
With which banks am I required to place my fixed deposit?
As of 25 June 2004, the fixed deposit can be made at ANY financial institution, including foreign banks with local branches in Malaysia.
The fixed deposit be made in a foreign currency?
The fixed deposit for this programme must be made in Ringgit.
With Malaysia's existing controls on foreign currency exchange, can I exchange my Ringgit back to foreign currency when leaving the country?
Yes. You may exchange your Ringgit as long as you can show that the currency was legitimately brought into the country as foreign currency.
Employment Opportunity Locally
Can I seek employment under this programme?
You are NOT allowed to work under this programme. However, certain people with special skills may be able to apply for a work permit from the Immigration Department.
What about setting up my own company?
As long as you abide by the laws on foreign investment in Malaysia and other requirements setforth, you may do so.
Can property ownership considered as having fulfilled the financial criteria for this programme?
No. Participants are required to fulfill the fixed deposit requirement, as the purchase of a house is not compulsory under this programme.
Will a local financial institution consider approval for a loan should I decide to purchase a local property?
Yes. You may apply for a loan for up to 60% of the value of the property. Subject to qualifications.
Any restrictions on the type of property?
Your may purchase up to 2 residential properties. They can either be landed or highrise. However each must be with more that RM150,000.00.
Car Purchasing and Driving License
What incentives do I have to purchase a car for use in Malaysia?
A participant can choose to either:
- Import one car subject to approved permit (AP), which is exempted from import duty, excuse duty and sales tax.
- Purchase one car in Malaysia which is exempted from payment of excise duty and sales tax.
Can I drive in Malaysia?
Malaysia recognizes all international driving licenses as long as your original license is still valid.