MYR

Malaysia My Second Home Terms & Conditions

Eligibility, Requirements, Health Check-Up

The Malaysia My Second Home Programme is open to citizens of countries recognised by Malaysia regardless of race, religion, gender or age. This programme allows applicants to bring with them their spouses, and children who are unmarried and below the age of 18.

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Financial Requirements

I. NEW APPLICANTS
Successful applicants (after 1 April 2006) are required to comply with the following financial criteria:
i) Aged below 50 years old

 

  • Must open a fixed deposit account of RM300,000
  • After a period of one year, the participant may withdraw up to RM240, 000 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
  • Must maintain a minimum balance of RM60, 000 from the second year onwards and throughout their stay in Malaysia under this programme.

ii) Aged 50 years and above

  • May either choose to:
    - Open a fixed deposit account of RM150,000 OR
    - Show proof of monthly off-shore income of RM10, 000 such as a pension scheme.
  • Participants who fulfil the fixed deposit criteria:
    - May withdraw up to RM90,000 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes after a period of one year.
    - Must maintain a minimum balance of RM60, 000 from the second year onwards and throughout their stay in Malaysia under this programme.

Note: Successful applicants need to open their fixed deposit accounts in Ringgit Malaysia (RM).

II. EXISTING PARTICIPANTS
Existing participants will not be subject to the new financial requirements when they renew their stay in Malaysia under this programme. However, approvals for renewals are subject to the fulfilment of the conditions required by the Government of Malaysia.

Participants who complied with the earlier fixed deposit criteria are allowed after a one-year stay in Malaysia to withdraw part of their fixed deposit as follows:
i) Single participant with a fixed deposit of RM100, 000

  • May withdraw up to RM40, 000 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
  • Must maintain a minimum balance of RM60, 000 from the second year onwards and throughout his/her stay in Malaysia under this programme.

ii) Participant and Spouse with a fixed deposit of RM150, 000

  • Can withdraw up to RM90, 000 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
  • Must maintain a minimum balance of RM60, 000 from the second year onwards and throughout their stay in Malaysia under this programme.

Note: Participants under this programme (both new and existing) may withdraw their entire fixed deposit anytime should they decide to terminate their stay in Malaysia under this programme. However, they must obtain prior approval from the Ministry of Tourism.

Medical Report

All applicants and their dependants (spouse and children) are required to submit a medical report from any private hospital in Malaysia.

Medical Insurance

Approved participants and their dependants (spouse and children) must possess valid medical insurance coverage from any insurance company that is applicable in Malaysia.

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