This article provides an overview of Malaysia's Second Home Program (MM2H), a long-term residence visa option for foreigners. Mike from Aurora MM2H Sdn Bhd, with 15 years of experience and having assisted over 800 families, shares key details about the program.
What is the Malaysia Second Home Plan?
The Second Home plan is a Malaysian government initiative designed to allow foreign investors and individuals who appreciate Malaysia to obtain a long-term residence visa. This is not a permanent residency visa and does not lead to citizenship.
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It's a long-term visa, meaning it lasts longer than six months.
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It is distinct from other long-term visas like student, marriage, professional talent, and work visas.
Key Features of the Second Home Visa
What makes the Second Home visa unique is its potential for renewal. Upon application, successful candidates can obtain visas for 5, 15, or 20 years depending on the category applied for. Unlike work or investment visas that may face renewal challenges, the Second Home visa offers greater stability if requirements are met.
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Stability: The visa provides a stable option for families looking to reside in Malaysia long-term.
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Renewal: Visas are renewable as long as the requirements are met.
Different Levels of the Second Home Plan
The Second Home plan is categorized into different levels with varying requirements: Bok Jin, Jin, and Ying, and a special area category.
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Bok Jin: Offers a 20-year visa.
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Jin: Offers a 15-year visa.
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Ying & Special Area: Offers a 5-year visa.
Eligibility
The Second Home plan is open to applicants from most countries, excluding specific nations like North Korea or countries experiencing conflict. Some countries like Vanuatu and Turkey may face more difficulties. Applicants should have no criminal record and meet the financial conditions of the selected category.
Financial Requirements
The financial conditions vary significantly based on the chosen category:
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Bok Jin: Requires purchasing property exceeding RM2 million and depositing RM1 million after application approval. After a year, half of the deposit can be used for property, medical expenses, tuition fees, or travel allowance.
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Jin: Requires a RM500,000 deposit and purchasing property valued at RM1,000,000.
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Ying: Requires a RM150,000 deposit and purchasing property valued at least RM600,000.
Regional Restrictions
It's important to note that while the Ying category requires a minimum property value of RM600,000, some states (like Kuala Lumpur, Bincheng, Maliujia, Xingshan) have higher minimum purchase prices (RM1,000,000 for foreigners). Houses at the RM600,000 can be purchased in Kedah or Ipoh.
Special Area Details
The special area currently only includes properties within the Biguiyuan area of Rofo Xingshan. It requires:
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Under 50: Saving RM650,000.
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Over 50: Saving RM32,000.
The first visa granted is for 10 years, with subsequent renewals for 5 years.
Residency Requirements
Despite applying for a Second Home visa in a specific area, applicants are not required to reside in that area. Purchasing a property in the designated special area is sufficient, and residents can live elsewhere, such as Kuala Lumpur.
West Malaysia vs. East Malaysia
The regulations discussed apply specifically to West Malaysia. East Malaysia has its own separate Second Home program with its own specific conditions.
Fees Associated with the Second Home Plan
The fees for the Second Home plan are now standardized by the Ministry of Tourism, with all agents charging the same amount.
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Special Area and Ying: Agent fee is RM40,000, which includes the main applicant's visa fee, immigration hall application fee, medical check-up, and insurance costs.
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Bok Jin: Total agent fee is RM70,000.
Additional family members applying at the same time do not incur extra agent fees, although separate government, insurance, and medical fees apply.
Old vs. New Second Home Policy
The older Second Home policy, initially called the "Law Enforcement Plan" or "Pension Plan," had a lower threshold of RM300,000 (RM150,000 for those over 50).
Key Differences:
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Property Purchase: The latest policy mandates property purchase, unlike the older policy that only required a deposit.
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Deposit Amounts: Deposit requirements differ significantly.
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Child Age: The maximum age for dependent children has increased from 21 to 34, with specific conditions: unmarried, dependent on the applicant (birth father), and the applicant's visa must be valid.
Business Ownership
Previously, Second Home visa holders could open companies. Now, only the Bok Jin card allows business ownership in Malaysia. Bank account signing may also pose challenges for non-Bok Jin visa holders.
Choosing a Qualified Agent
To ensure you are working with a qualified agent:
- Verify Credentials: Check for a government-issued license with the agent's details and license plate number.
- Scan QR Code: Use the QR code on the license to verify the agent's status on the immigration office or tourism department website.
- Deposit: Qualified agents are required to have a deposit with the government.
It is important to note that no agent can guarantee 100% visa approval. Experienced agents will guide applicants through the document verification process to ensure a higher probability of success. Agents can only provide guidance and facilitate the application, they have no influence over the final approval decision.
Agents will review the applicant's situation and documents before signing a contract and submitting the application to the immigration office. Applicants are responsible for providing authentic and valid documents.