MM2H specific incentives
In its efforts to promote the Malaysia My Second Home program (MM2H), the Malaysian Ministry of Tourism has guaranteed that successful applicants would enjoy the following benefits:
- Property purchases; MM2H visa holder can purchase any number of residential property in Malaysia, subject to the minimum rates established for foreigners by the different states. Most states follow the RM500,000 per unit recommended by the government, with a few exception; Penang for exemple set an exception for MM2H visa holders stating that they can buy property starting from RM250,000. Sarawak set their minimum at RM350,000. Pahang is the exception as it set a higher minimum than recommended at RM750,000.
- Car purchase; MM2H visa holders are allowed to bring in their personal car in Malaysia tax free, or to purchase a car in Malaysia without the need to pay import duty, excise duty and sales tax. As Malaysian cars are horribly expensive, this benefit is very attractive and has convinced many expats who have been living in Malaysia for a long time to switch to a MM2H visa. This benefit is not available to foreign spouses of Malaysians.
- Tax; offshore pension remitted in Malaysia are tax exempted, along with the interests gained from the MM2H fixed deposit, and the import of personal and household items.
- MM2H card; since November 2009, participants may obtain a special ID cards from the Immigration Department headquarters allowing them to go through immigration checkpoints as residents rather than foreign nationals.
- Domestic helper; each participant is allowed to apply for one live in maid.