My Trip
(0)

Malaysia My Second Home

  • Malaysia My Second Home Terms & Conditions

    Eligibility, Requirements, Health Check-Up

    0

    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.

    You May Also Like

    Rate This Place: ( votes)
  • Follow us on FACEBOOK for daily photos!

    You May Also Like

 
Hotel Quick Finder | Select the date of your stay
to
  night(s)

Download our free travel guide

Get access to our free travel guides of the best things to do, see and visit, the best restaurants, shops and places to go at night too! All the important basics such weather and travel tips for your first trip are in there.

Print it out to carry around, save it on your phone or use it when you arrive. Just enter your details to get your free PDF Travel Guide and also add you to our free Asia Web Direct Travel Club Newsletter.

Talk to us!

Help us keep this site up-to-date by sending us your comments:

  • - Tell us if something is not right, outdated or closed
  • - Suggest your restaurant, bar or shop
  • - Tell what you would like to see in this website

Loading...