What does the Second Home mean?
A second home by definition is a residence that you intend to occupy in addition to your primary residence. It is a residence or country that is kept available for one’s exclusive use and enjoyment at all times. The government of Malaysia offers foreigners to make Malaysia their second home through Malaysia My Second Home (MM2H) Program. It was introduced in 2002 specifically to attract foreigners wishing to live a meaningful and affordable life in Malaysia. Foreigners who fulfill the criteria for the MM2H program can stay in Malaysia for as long as possible on a multiple-entry visa. The visa is initially for 5-10 years, and is easily renewable.
What makes Malaysia’s Second Home Program so special?
- Did you know that MM2H initially started in 1996 as “Silver Hair Program”. It was replaced by Malaysia My Second Home Program in 2002. An important milestone was reached in 2009 when high net worth individuals below the age of 50 were also permitted to apply for the programme.
Now MM2H is one of the only retirement or second residence program in the world that does not have any age restriction.
- MM2H residency does not take years to get approved nor does it bury you in lengthy ongoing paperworks. However, you do need to put in some effort to show that you want to become a resident of Malaysia.
- MM2H is one of the only long-term residence programs in the world that does not have any minimum stay requirement in Malaysia. You don’t have to have any physical presence in the country for a number of days in a year to remain an MM2H visa holder.
- MM2H visa is the only visa through which you can bring maid from your own country. Otherwise, under other visas you can only bring maid from certain countries like indonesia, combodia, thailand and few others.
- Getting MM2H does not make you a Malaysian citizen, but it allows you to completely become a part of Malaysian society, stay in the country for as long as you want, buy property, invest in local projects, open businesses and educate your children in local or international institutes.
- MM2H program is open to citizens of all countries recognised by Malaysia. Spouse and unmarried children can also apply as dependants.
Andrew Henderson, author of Nomad Capitalist, commented on MM2H program saying, “The Malaysia My Second Home program is a great fit for expats frustrated by the large amounts of money expected from other second residence programs that often demand that you actively manage a local business. However, the program isn’t ideal for entrepreneurs who are just starting their careers.”
The Malaysian government has approved over 46,000 applications for Malaysia My Second Home (MM2H) program since its launch in 2002. These applications have been received from over 130 countries including China, Japan, Bangladesh, UK, Korea, Singapore, Taiwan, Hong Kong, India, United States, Australia and many more.
MM2H programme has spurred Malaysia in the global ranking and is now 7th Best Retirement Destination in the World for 2020. Around 15% of these applicants bought properties in Malaysia, and many prefer staying on rental basis.