Can I withdraw my interest earned on fixed deposit any time during my stay in Malaysia?
Some banks allow periodical withdrawals of interest earned on your fixed deposit. This is subject to the bank’s policy and negotiation at the time of opening your account with the bank concerned. Please refer to banking portal www.bankinginfo.com.my for current rates and terms.
Can I place the fixed deposit in a Malaysian bank located in my country?
No. The fixed deposit account must be opened in any Malaysian bank or financial institution located in Malaysia.
Can the purchase of a house in Malaysia which is valued at more than RM500,000.00 be considered as having fulfilled the financial criteria for this program?
No. Participants are required to fulfill the financial requirement through proof of savings and other cash funds only.
Am I allowed to withdraw my fixed deposit for a few months and then topped it back later?
No. Participants are required to place their fixed deposits on annual auto renewal basis.
When can I withdraw my fixed deposit?
After a period of one year, the participant may withdraw his/her fixed deposit for approved expenses relating to house purchase, education for children in Malaysia and medical purposes OR when he/she decides to terminate his/her stay in Malaysia by first informing the Ministry of Tourism, Arts and Culture Malaysia of his/her intention at Malaysia My Second Home Centre. Participants can apply to withdraw part of their fixed deposit for emergency cases such as medical purposes, etc. with prior approval of the Ministry of Tourism, Arts and Culture Malaysia.
Can I transfer my Fixed Deposit Account tagged under MM2H program from one bank to another?
No. MM2H participants are not allowed to transfer Fixed Deposit Account tagged under MM2H program.
Does kindergarten level child need a Student Visa to attend kindergarten here?
Under the MM2H program, children below the age of 18 are not required to apply for a Student Visa. They need only to apply for permission to study at Immigration Department.
Can my married children study in Malaysia with their spouse?
Yes, but they have to apply for a Student Visa once they have obtained places of study in Malaysia. Children above the age of 18 who wish to continue their education in Malaysia are not eligible under the MM2H program.
Do I have to buy a property under the MM2H program?
No. You are not required to. You can buy or rent. Property purchase is not a prerequisite to participate in the MM2H program.
Do the participants have any special entitlements?
All participants are allowed to purchase residential properties at the minimum purchase price for foreigners established by federal or respective state governments.
Can I purchase a house for residential purpose and a commercial shop lot to be rented out?
You are only allowed to purchase residential titled properties. Not the commercial titled properties.
Do I have to pay the yearly assessment and quit rent for my houses like the locals?
In the event of unforeseen death is the participant able to hand over his Malaysian assets to any of his beneficiaries smoothly. Does the Government have any restriction on this matter?
No. Participants may transfer their property to their next-of-kin provided they have made a will to this effect. In the event of lack of documentation, the next-of-kin may claim the inheritance upon proof of identity and kinship.
Must foreigners buy new Malaysia property only, such as from developers, or can they purchase any property, such as from individual owners (second hand or third hand property)?
Participants can purchase any type of housing properties provided that they have been issued with CF (Certificate of Fitness).
Can I keep pets in my condominium?
The By-laws of the Strata Title Act state that a parcel proprietor is not allowed to keep any animal in his/her parcel or on the common property which may cause annoyance to any other proprietor.
What is the processing time for the application?
Results will be announced 6-9 months from submission date.
Will I be given permanent residence status?
The MM2H visa does not lead to either permanent residence status or Malaysian citizenship.
Are applicants required to be in Malaysia during the application process?
No. Applicants are not required to be in Malaysia. But they are required to come to Malaysia within 6 months after getting the approval to complete the remaining process and getting the MM2H visa endorsed in the passport.
Can MM2H participants work in Malaysia?
No. MM2H participants are not allowed to work or under any employment in Malaysia.
Can MM2H participants buy a tax-free car in Malaysia?
Starting January 2018, tax-free car benefit has been abolished by the government.
Nevertheless, MM2H participants can buy cars at published rate from any authorized car dealers in Malaysia.
Can MM2H participants buy used car in Malaysia?
Yes. MM2H participants are allowed to buy used car from any authorized and reputable used car dealers in Malaysia.
I would like to import my car to Malaysia. Am I allowed to do so?
Yes. You are allowed to import one (1) car which has been in your possession for at least one (1) year prior to getting the MM2H visa. But it will be subjected to import and excise duty.
Can foreign spouses of Malaysians apply for the MM2H Program?
Yes. As long as they are able to fulfil all the requirements for the application.
I am an expatriate living in Malaysia for the past 15 years under a work permit. I am retiring soon and my work permit is expiring at the end of my work contract. Am I allowed to apply for the MM2H program as I want to continue living in this wonderful country?
Yes. You are allowed to apply for the MM2H program after the expiration of the work permit. All terms and conditions apply.