WHO CAN APPLY FOR MALAYSIA MY SECOND HOME?
The Malaysia my Second Home program is open for all citizens of countries recognized by Malaysia. Since Malaysia is an example of a multi-cultural society: people of all race, religion, gender or age can apply. Applicants are allowed to bring along their spouse and children, as long as the childern are below 18 and are not married.
HEALTH INSURANCE
Applicants to the Malaysia my Second Home must have a valid health insurance from any insurance company in Malaysia.
FIXED INCOME OR FIXED SAVINGS ACCOUNT
Since April 2006 :
* applicants under 50 need a savings account or fixed deposit of US$75,000 or RM300,000 in a bank in Malaysia
* applicants over 50 need a savings account or fixed deposit of US$40,000 or RM150,000
OR
they need to show evidence of a monthly income over US$2500 or RM10,000.
Applicants placing fixed deposits in a savings account can withdraw part of the money of the savings account after one year, but the money needs to be spend again inside Malaysia:
* to buy a car in Malaysia,
* to buy a house in Malaysia
* to buy shares in Malaysia.
Be aware: during your stay under the Malaysia My Second Home Visa, you are not allowed to work anywhere in Malaysia unless approved by the government.
As long as your Malaysia My Second Home Visa is valid, at least US$15,000 or RM60,000 has to be in your savings account.
The Author lives in Malaysia under the Malaysia My Second Home program.
Most updated info will be available at www.malaysiamysecondhome.org |
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