Malaysia My Second Home Program (MM2H)
Government Malaysia promotes Malaysia My Second Home Program (MM2H) to welcome the people from all over the world who fulfill certain criteria to stay in Malaysia as long as possible on a multiple entry visa. The Social Visit Pass is initially for a period of ten (10) years and is renewable. Many benefits can enjoy by foreigners who under this program such as apply for study, purchase a house and car, apply for job, and apply for helper and bringing in your pet.
- Open to citizens of all countries, except Israel, Yugoslavia, Serbia and Montenegro are excluded.
- Applicants are allowed to bring their spouses and unmarried children below age of 21 as dependents.
For application and more details, you may refer to www.mm2h.gov.my.
For Penang State Property
Penang State Administration remain the rule which start from 1 July 2012 which is foreign interests to only buy property worth more than RM 1 million in Penang and RM 2 million for the landed property on the island. After 1 February 2014, 2% additional registration fees imposed on purchaser regardless of citizens or foreign interests on any property purchased and sold within three years from them date of the Sales and Purchase Agreement (SPA).
However, starting from 1 February 2014 Malaysian Government undertake the Minimum Property Purchase Price for Foreign Interests Acquisition in Penang is RM 2 million on the island and RM 1 million on the mainland for all types of property. For non-citizens who purchase property in Penang State, 3% levy on them and to further curb speculation activities in addition to the existing application fees of RM 10,000 (for individuals) and RM 20,000 (for companies).
For more details, you may refer to http://www.penang.gov.my/index.php/en/2013-04-01-05-24-50/kenyataan-akhbar-yab-km/2787-penang-state-government-new-housing-rule-2013