Why Malaysia My Second Home?
The Malaysian My Second Home Project originated from the Malaysian Ministry of Tourism’s long-term residency program for foreign retired seniors, the “Silver Hair Project”, which encourages foreign retired seniors over the age of 50 to travel to Malaysia for long-term residence. After the implementation of the project, the response from foreigners were great and it led to the government deciding to officially rename the “Silver Hair Project” to “Malaysia My Second Home Project” in 2002. Moreover, the target is no longer limited to retired people, but to foreigners over 21 years old which meets specific requirements and criteria. This propelled investments, education and many other preferential policies in Malaysia. Besides the year-round warm sunny climate, Malaysia can boast an affordable cost of living, accessible health care and good infrastructure.
The Malaysia My Second Home program was introduced by the Malaysian government to attract foreign capital, promote tourism and develop the economy. Eligible applicants only need to deposit up to RM300,000 in personal deposits in Malaysia to obtain a second home status. Successful applicants can then enjoy a number of government preferential policies. Whether you are looking to stay long-term, sightseeing or investing in business, Malaysia is a place that is both pleasant and convenient.
Advantages of MM2H
Due to its nature of being a country with a diverse culture, Malaysia has the following advantages as foreign businessmen and investors would seek to look for opportunities to settle down and develop here.
→Simple application procedures, high success rate and fast processing
The MM2H application has no age limit, no English requirements, low investment threshold, and the application period is the shortest among the current immigration projects in various
→Only one person has to apply from the family and the whole family can be attached as dependant.
The applicant’s spouse, biological or adopted child that is under the age of 21 and parents that are over 60 years of age can obtain the second home status.
→The Malaysia My Second Home program has no immigration supervision and is valid for life.
Individuals holding the Second home status is free to enter and leave Malaysia at any time and is also free to live in Malaysia, with no location and time constraints. Furthermore, the second
home status can be renewed every 10 years.
→Transfer to a third country without going back to their Home Country
With the second home status, you can apply for a visa directly in Malaysia when going to other countries which is very convenient as it saves the hassle of going back to the home country to
apply for a visa.
→Children can enjoy higher quality of education
Malaysia inherits the traditional British education system and has a good English learning environment. Applicants can enroll their children in Malaysian public schools, private schools or
international schools. Furthermore, There are numerous international university campus in Malaysia such as Nottingham University, Monash University, Curtin University and Xiamen
University, all of which has a high international reputation and its teaching level is on par to that of Western universities overseas.
→Malaysia encourages investment in business
The government encourages applicants to start companies and other investments in Malaysia. Applicants can own 100% of the shares of foreign capital, and no local shareholder is required.