Golden Visa in Malaysia - Real Estate Insider

Malaysia My Second Home (MM2H) is undoubtedly one of the world's most popular investor visa programs. More than 35,000 cases have been granted since its inception in 2002. The program is popular in Japan, Bangladesh, and the United Kingdom, and many of the applications are from China. Citizens of all nations are eligible to participate in the MM2H program. Applicants must have a minimum of USD$125,000 in assets and a monthly income of USD$2,500 to be considered. If you are 50 or older, you must deposit a minimum of RM150,000 in a bank account, or RM300,000 if you are younger than 50. However, after one year, a portion of this amount can be taken for certain qualifying transactions, such as real estate.

Applicants and their families can reside or retire in Malaysia for a long time under the Malaysia My Second Home program, often known as MM2H. Applicants who meet the conditions will be granted a 5-year multiple entry visa that is renewable. Successful applicants must commit to spending at least 90 days in the country each year. Applicants may also bring domestic assistance with them. In Malaysia, children under the age of 21 are permitted to accompany the applicant. Parents of the main applicant are also eligible to join the applicant as dependents.

Applicants under the age of 50

Proof of at least MYR 500,000 in bankable assets (USD 135,000)
Proof of a monthly income of at least MYR 10,000 (USD 3,000)

Applicants older than 50 years old.

Proof of at least MYR 350,000 in bankable assets (USD 95,000)
Proof of a monthly income of at least MYR 10,000 (USD 3,000)

The Approval Requirements

After receiving a conditional approval letter, an applicant must complete the following requirements:

Applicants under the age of 50

A minimum deposit of MYR 300,000 is required to start a bank account (USD 80,000)
After a year, you can withdraw up to MYR 150,000 (USD 40,000) for approved expenses such as a property purchase, children's education in Malaysia, or medical expenses.
From the second year onwards, and throughout the stay in Malaysia under the program, a minimum balance of MYR 150,000 (USD 40,000) must be maintained.

Applicants older than 50 years old.

A minimum deposit of MYR 150,000 is required to start a bank account (USD 40,000)
After a year, you can withdraw up to MYR 50,000 (USD 13,000) for approved expenses such as a property purchase, children's education in Malaysia, or medical expenses.
From the second year onwards, and throughout the participant's stay in Malaysia under the program, a minimum balance of MYR 100,000 (USD 27,000) must be maintained. If the participant can show proof of receiving a monthly pension of at least MYR 10,000 (USD 3,000), the participant may be exempt from making a fixed deposit.

Application Requirements

The Ministry of Tourism and Culture is responsible for the processing of all applicants. The Immigration Unit will issue a conditional approval letter to each approved applicant.

Upon receiving the conditional approval letter, the applicant needs to travel to Malaysia and fulfil the remaining requirements:

Open a bank account in Malaysia and transfer the fixed deposit
Purchase medical insurance from any insurance company in Malaysia
Obtain a medical report from any private hospital or registered clinic in Malaysia
After submission of the fixed deposit certificate, the medical insurance policy and the medical report, the applicant may collect their MM2H visa.

It is important to note that the visa does not allow the holder to work in Malaysia and it does not lead to permanent residence.