Benefit of MM2H

HOUSE PURCHASE

Any foreigner may purchase any number of residential property in Malaysia, subject to the minimum price established for foreigners by the different states. You are advised to consult a lawyer when deciding to purchase a property as land is a state matter and the minimum purchase price of property is not standardise between states.

As at 22nd Sept 2014, the following are the list of minimum price for property purchase by MM2H visa holder:-

Note:
Profits made on the disposal of property is subjected to current Real Property Gains Tax rate as set by the Government of Malaysia.

Disposal on the 1st year–5th year      30%
Disposal on 5th year and above          5%

CAR PURCHASE

The MM2H participant may purchase one new motor vehicle made or assembled in Malaysia, which will be exempted from paying excise duty and sales tax. An application to purchase new car made or assembled in Malaysia must be forwarded to the Ministry of Finance within a period of 1 year from the endorsement date of MM2H social visit pass. The purchase of vehicle must be for personal use and not for any commercial purpose. The exemption of sales tax and excise duty is only limited to one vehicle.

Participants are only allowed to sell their imported/locally purchased car after 2 years' stay on the programme. The disposal of the car is however subjected to payment of import duty, excise duty and sales tax according to the prevailing rate.

IMPORT OF PERSONAL CAR

The MM2H participant may import one new motor vehicle, which belongs to him/her country of citizenship or where he/she last domiciled. The import will be exempted from paying import duty, excise duty and sales tax.

An application to import vehicle from the participant’s country of citizenship or where he/she last domiciled must be forwarded to the Ministry of Finance within a period of 6 months from the endorsement date of MM2H social visit pass. The participant must be the owner of the vehicle for at least 6 months prior to obtaining the MM2H visa, as evidenced by the vehicle registration document.

Participants are only allowed to sell their imported/locally purchased car after 2 years' stay on the programme. The disposal of the car is however subjected to payment of import duty, excise duty and sales tax according to the prevailing rate.

DOMESTIC HELPER

Each applicant is allowed to apply for one maid subject to the prevailing guidelines of the Immigration Department of Malaysia.

EDUCATION AND BRING YOUR FAMILY ALONG

Applicants are allowed to bring their spouse and unmarried children under 21 years as their dependants under this programme. The applicant and dependants should be insured throughout their stay under this programme.

Children who intend to continue their schooling in Malaysia are required to apply for a Student Pass. Foreign students are allowed to enrol in Malaysia governmental primary and secondary school or parents may opt for private schools to enrol their children

As for tertiary education, there are plenty of Malaysia colleges and universities to choose from. Apart from that, Malaysia colleges and universities also collaborated twinning programme or credit transfer programme with other well-known overseas universities in which students are able to complete full or part undergraduate courses in Malaysia and thus saving educational cost.

INCOME TAX

Though participants are bound by the Malaysia policies, system and regulations of taxes, MM2H visa holders are able to enjoy added tax exemption benefits in Malaysia under the Double Tax Treaty Agreement Countries. Income tax is charged on territory basis instead of on a worldwide scope basis.

APPLY FOR PART TIME JOB

MM2H participants are not allowed to work or to be employed while staying in Malaysia. However, exception applies to participants above 50 years of age, they are allowed to apply for a maximum 20 hours per week employment, subject to the approval of the Expatriate Committee of the Immigration Department of Malaysia.

BRINGING IN PETS

You may bring your pet into Malaysia provided that the proper quarantine procedure are followed.

REGISTERING OF BUSINESS

MM2H participants are allowed to register a business incorporated in Malaysia. Guideline for incorporation of a Malaysia company may be obtained from the Companies Commission of Malaysia.