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Welcome to
www.ckten.com.my (updated
15 May 2012)
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Selamat
Datang!
This
website is dedicated to providing you with all you need to know about the Malaysia My Second Home Program. Discover how to apply for
the MM2H Program - the conditions,
application process, required documents, time frame etc. and do contact us
should you have any queries or even feedback about this website. We are an agent licensed by the Ministry of
Tourism
Malaysia
to handle applications for the Program and have been assisting foreigners
live here since 2001.
INTRODUCTION
The
Malaysia My Second Home
Program is regulated by the Malaysian government and is for foreigners to live in Malaysia under a 10-year renewable
multiple entry visa.
You can
migrate to Malaysia with your spouse and children who are below 21 years old (unmarried).
Your children can attend any
reputable international schools and colleges in
Malaysia.
The spouse and children of the applicant will get the same class of visa
and the same duration as the main applicant. Children who above 21 years old
will have to submit a separate application as an adult.
There is no
minimum compulsory number of days stay in Malaysia under this program. As an
example you can stay here 365 days a year or just 1 day a year. There is also no
limit to your number of entry or exits to or from Malaysia per year.
The are currently
about 13,000 families that are staying in Malaysia under the Malaysia My
Second Home (MM2H) Program. They are generally from all over the world and
specifically from countries like the United Kingdom, Japan, Iran, China,
Bangladesh and South Korea. The 2nd Homers migrate to Malaysia for
reasons such as a cheaper location to retire, children studying here,
warmer climate, good personal security, good infrastructure, stable economy,
well regulated investment environment etc. but whatever it is, I am sure
like each of them you will be able to find your own reason to
live here.
INVESTMENT, BUSINESS & WORK
Participants of the MM2H Program
can also invest in all common classes of assets in Malaysia i.e. property,
shares of companies, bonds and fixed-deposits. They can also actively
participate in business such as being an owner of a company and being
involved in the active running of it. Those that are above 50 years old can
work for up to 20 hours a week in skilled positions. However one needs a
further permission from the Immigration Department before he or she can work
for 20 hours a week.
EDUCATION
Your
children will be able to study using their MM2H Visa (without applying for a
specific student visa) at any of the reputable international schools in
Malaysia. However they will need to use a student visa if they were to study
at the university level.
TAX-FREE OVERSEAS INCOME
There is
no tax on money brought into Malaysia, however any income (such as income
from house rental) made in Malaysia will be subjected to income tax. There
is also no inheritance tax in Malaysia.
TAX-FREE CAR IMPORT
A participant
of the MM2H Program is allowed to import a car tax-free as a personal belonging from his country
of origin or purchase one here free of sales tax. This
means you will get a car cheaper than a Malaysian.
In order to qualify for the tax exemptions, you would have to:
a) Import a car
from your home country/last country of domicile within 6 months from the
approval of the Program.
b) Buy a
locally assembled car (including foreign brands) within a year from the
approval of the Program.
We are able to
further advise clients on car matters.
See car import
process and pictures
HERE.
PROPERTY OWNERSHIP
You can
buy any number of properties in your own name in Malaysia.
A participant is entitled to buy any number of
properties that is above RM 500,000 each in all states of Malaysia with the
exception of Sabah and Sarawak where the minimal is RM 350,000 and Pahang where it is RM 750,000.
Property
ownership and transfer is the prerogative of the state government where the
property is located at, therefore the minimal purchase price
differs in a few states.
You can
buy any amount of properties to live in or to collect rental from.
There is a
5%
Malaysian Real Property Gains Tax imposed since 01-01-2010, which means you
will have to pay a 5% tax on any gain that you make, if you sell a
property within 5 years from the date of its purchase.
PARENTS
Parents of the
main applicant who are above 60 years can visit Malaysia on a 6 months
renewable visitation visa.
MM2H ID CARD
You and your
family members will be issued with a special Malaysia My Second Home
identification card each, recognised by the Malaysian Police and Immigration
Department.
Notes:
The "Malaysia My Second
Home" or the "Malaysia My 2nd Home" or "MM2H"
Programme
is used interchangeably by different promoters but is the same thing.
In some countries it is also known as the "Malaysian long-stay"
Program. Before 2001 it was known as the "Silver Hair Programme" where
participants mainly chose to retire in Malaysia, but now its for all age groups.
A "licensed agent" such as us is also known as the "authorised
agent" or "sponsor", who is licensed by the Ministry of Tourism Malaysia for
this purpose. Before 2006 we held a permit from the Immigration Department
of Malaysia for this purpose.
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