Participants of the Malaysia My Second Home Programme are provided with various incentives to make their stay even more comfortable and enjoyable in Malaysia. The incentives provided are as follows:
Each participant is allowed to purchase up to two units of residential houses at a minimum price of above RM150,000 each, depending on the location of the property. Generally, the minimum prices for house purchases are:-
- Above RM350,000 each for certain areas in the state of Sarawak
- Above RM250,000 each for the states of Penang, Malacca and Johor
- Above RM150,000 for other states.
Each participant is allowed to bring in his/her own personal car or purchase a locally-assembled car without the need to pay import duty, excise duty and sales tax. A 'Personal car' is defined as a car which was purchased and owned by the participant before joining the MM2H programme.
Participants must apply for prior approval within the time period given to the Ministry of Finance and Ministry of International Trade and Industry before bringing in a personal car from their country of residence or buying a locally assembled car in Malaysia.
Each applicant is allowed to apply for one maid subject to the prevailing guidelines of the Immigration Department of Malaysia.
Applicants are allowed to bring their children who are under 18 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.
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 relevant 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 for tax exemption.
For more info on the categories above, refer to the Malaysian authorities’ website at http://www.mm2h.gov.my/.