Welcome to our comprehensive guide about Malaysia’s highly sought-after Malaysia My Second Home (MM2H) and Premium Visa Programs (PVIP). These initiatives, put in place by the Malaysian government, offer non-Malaysian citizens the opportunity to enjoy multiple-entry visa advantages, making Malaysia their preferred second home or premium destination. This guide aims to provide a detailed understanding of the MM2H and PVIP, including their purpose, application processes, eligibility requirements, financial obligations, and numerous benefits. Whether you’re considering semi-retirement or even permanent living in Malaysia, this guide will serve as a valuable resource for navigating these unique Malaysian visa programs.
Table of Contents
What is MM2H Malaysia?
The Malaysia My Second Home (MM2H) program is a residency program initiated by the Malaysian government with the primary aim of attracting foreign individuals, especially retirees, professionals, and expatriates, to live in Malaysia on a long-term basis. The MM2H program offers various benefits and incentives to encourage foreigners to choose Malaysia as their second home.
Eligibility for the MM2H program is open to citizens of all countries that have diplomatic relations with Malaysia, regardless of race, religion, gender, or age. Applicants are permitted to bring their spouses and unmarried children under the age of 21 as dependents. However, applicants must meet certain criteria and fulfill specific requirements to be eligible for the MM2H visa.
The requirements for obtaining the MM2H
- Financial Criteria: Applicants must demonstrate that they have the financial capability to support their stay in Malaysia. This can be done by showing proof of liquid assets, such as cash in bank accounts or investments, with a minimum amount that varies depending on the age of the applicant.
- Medical Report: Applicants are required to provide a medical report from a recognized medical institution in their home country, stating that they are in good health and free from contagious diseases.
Security Bond: A security bond is required for each family member included in the MM2H application. This bond serves as a guarantee to the Malaysian government that the participants will comply with the program’s terms and conditions.
Benefits of the MM2H Programme in Malaysia
- Long-term Residency: MM2H visa holders are granted a Social Visit Pass with a Multiple-entry Visa, allowing them to live in Malaysia on a long-term basis.
- Property Ownership: MM2H visa holders are eligible to purchase residential properties in Malaysia, subject to the guidelines set by the respective states.
- Tax Incentives: Participants are granted certain tax benefits, including the option to bring in a limited amount of personal belongings or vehicles duty-free.
- Education and Healthcare: MM2H visa holders can access international-standard education institutions and healthcare facilities in Malaysia.
Employment and Business Opportunities: While the primary purpose of the MM2H visa is not for employment, participants are allowed to work on a part-time basis or start their own business, subject to approval from the relevant authorities.
What is the Malaysian Premium Visa Program (PVIP):
The Malaysian Premium Visa Program (PVIP) is a long-term residency visa introduced by the Malaysian government. It is designed to attract foreign investors, entrepreneurs, and talented individuals to live, work, or study in Malaysia for an extended period. The PVIP aims to encourage foreign individuals to contribute to the economic growth and development of Malaysia.
What is the requirement for PVIP in Malaysia?
The Malaysian Premium Visa Program (PVIP) is a long-term residency visa that is available to wealthy investors, entrepreneurs, and foreign talents from every country except Israel and countries that Malaysia does not have diplomatic relations with. Below are the eligibility criteria and requirements for obtaining the PVIP:
- Financial Eligibility:
- Applicants must demonstrate an offshore income of RM40,000 per month or RM480,000 annually.
- They must also open a fixed deposit account in a Malaysian bank with a minimum deposit of RM1,000,000.
- Application Documentation:
- Completed PVIP application form.
- Valid passport with a minimum validity of 12 months.
- Personal details and background information.
- Certified copy of bank statements or income proof for the past 6 months.
- Curriculum Vitae (CV) or resume.
- Health declaration form.
- Other supporting documents as requested by the immigration authorities.
- Application Process:
- Submit the completed PVIP application form along with the required documents to the Malaysia My Second Home (MM2H) Center or the relevant immigration office.
- Pay the application fee (if applicable).
- Wait for the application to be processed and reviewed by the immigration authorities.
Benefits of the PVIP Programme in Malaysia
The Malaysian Premium Visa Program (PVIP) offers several benefits to participants. Some of the key benefits of the PVIP are:
- Long-term Residency: The PVIP provides participants with the opportunity to reside in Malaysia for an extended period. Approved applicants are granted a long-term visa with a validity of up to 20 years, allowing them to live, work, or study in Malaysia.
- Multiple Entry Visa (MEV) Facilities: PVIP holders are granted a Multiple Entry Visa, enabling them to enter and exit Malaysia multiple times without the need for separate visa applications. This flexibility allows participants to easily travel in and out of the country.
- Exemption of Minimum Stay Requirement: The PVIP does not have a minimum stay requirement, giving participants the freedom to choose their duration of stay in Malaysia. This flexibility is particularly beneficial for individuals who may have international commitments or frequently travel for business.
- Enhanced Business Opportunities: The PVIP encourages investment and business activities in Malaysia. Participants are provided with opportunities to explore business ventures, collaborate with local companies, and contribute to the economic growth of the country.
Education and Healthcare Accessibility: PVIP holders can access world-class education institutions and healthcare facilities in Malaysia. This is particularly advantageous for international students or individuals seeking quality healthcare services.
What is the difference between MM2H and PVIP in Malaysia (comparison table)
The PVIP differs from the Malaysia My Second Home (MM2H) program in several key aspects:
| PVIP | MM2H | |
|---|---|---|
| Purpose and Objectives | Targets affluent individuals who can make significant investments in Malaysia and contribute to its economy. | Focused on attracting retirees and expatriates who wish to make Malaysia their second home for personal or lifestyle reasons. |
| Financial Requirements | Requires applicants to meet certain financial criteria, including demonstrating an offshore income of RM40,000 per month or RM480,000 annually. | Has financial requirements that include the minimum monthly income and a fixed deposit amount, but the specific amounts may vary depending on the age of the applicant. |
| Application Requirements | Sets specific eligibility criteria, such as the requirement for applicants to invest in Malaysia and fulfill other conditions determined by the Malaysian government. | Broader eligibility scope, allowing individuals of all ages, including retirees, professionals, and families, to apply for long-term residency in Malaysia. |
| Duration and Renewal | Grants an initial approval for up to 20 years, with the option to extend for another 20 years. | Grants an initial approval for ten years, with the possibility of renewing the visa with the required criteria. |
| Privileges and Benefits | Various privileges, including multiple-entry visa facilities and exemptions from minimum stay requirements. | Provides benefits such as property ownership, tax incentives, education, and healthcare facilities. |
In conclusion, both the MM2H and PVIP programs offer unique opportunities for individuals seeking to live long-term in Malaysia. Whether you’re an entrepreneur looking to invest and grow your business, a retiree searching for a peaceful home, or simply someone drawn by the allure of Malaysia’s vibrant culture and lifestyle, these programs provide a gateway into the country. The choice between MM2H and PVIP depends largely on your financial capabilities, lifestyle preferences, and long-term objectives. As both programs have their set of requirements and benefits, it is essential to thoroughly consider your options and make an informed decision. Through these programs, Malaysia warmly welcomes all who wish to contribute to its rich and diverse landscape.
FAQs
- The PVIP and MM2H programs are two different residency schemes offered by the Malaysian government. While the PVIP primarily targets affluent individuals who can contribute significantly to Malaysia’s economy, the MM2H program is geared towards attracting retirees and expatriates who wish to make Malaysia their second home.
- Yes, PVIP holders are allowed to take up employment in Malaysia under certain conditions. They can invest in local businesses or start new ventures. These opportunities can enhance the economic growth of the country.
- No, both the PVIP and MM2H visas do not have a minimum stay requirement. This flexibility is particularly beneficial for individuals who frequently travel for business or have other international commitments.
- The PVIP requires applicants to demonstrate an offshore income of RM 40,000 per month or RM 480,000 annually, while the MM2H program’s financial requirements may vary depending on the applicant’s age. Both programs may also necessitate a fixed deposit in a Malaysian bank.