USD

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.

Read More

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.

Rate This Place: ( votes)

Tours You May Like

Related Pages

  • Labuan Activities

    Labuan Activities

    Lying eight kilometres off the coast of Sabah, Labuan is best known as a duty-free stopover particularly between the Read More»

  • Pasir Gudang World Kite Festival

    Pasir Gudang World Kite Festival

    Pasir Gudang World Kite Festival may not receive as much international media coverage as other Malaysian festivals but Read More»

  • 10 Best Luxury Hotels in Subang Jaya

    The best luxury hotels in Subang Jaya make ideal retreats for the most affluent of guests, featuring unique interiors, Read More»

  • Seberang Perai Restaurants

    Seberang Perai Restaurants

    Food, food and more food! Seberang Perai is the best selection of food lover tummy satisfying! Read More»

  • Weather in Pahang

    Pahang Weather

    Malaysia has a tropical climate with year-round high humidity and temperatures ranging from 27°C to 35°C. Pahang state, Read More»

  • 10 Best Affordable Hotels in Batu Ferringhi

    The best affordable hotels in Batu Ferringhi comprise charming guesthouses, backpackers’ hostels, and inexpensive Read More»

More Information about Malaysia My Second Home

Information on Malaysia

Information on Malaysia

This is a fact file that lists down some interesting facts about Malaysia. Read More...

Reasons to Stay in Malaysia

Reasons to Stay in Malaysia

You’ll find countless reasons to live in Malaysia, but listed on this page are just some of the few. Read More...

Incentives

Incentives

On top of reasons to stay in Malaysia, the Government through the Ministry of Tourism is throwing in various incentives Read More...

Terms & Conditions

Terms & Conditions

The Malaysia My Second Home Programme also has its terms and conditions to better enhance the package and provide an Read More...

Application Process

Application Process

The application process is detailed in step-by-step. The documents and other things you need to submit are listed down Read More...

We try to provide free information that is as up-to-date and accurate as possible. However, if you are planning to travel it's a good idea to double check specific dates and information to avoid surprises.

Hotels.com
Loading...