Malaysia My Second
Frequently Asked Questions
What other benefits do I enjoy?
Am I required to stay in Malaysia
- Allowed to purchase up to two units of residential houses valued at more than RM150, 000-00 to RM 350,000-00 each, depending on the location. (freehold and leasehold permitted)
- Flexibility of staying in Malaysia as long as you wish without the one month limitation of most tourist visas
after joining this programme?
After completing your landing visit to Malaysia, you are free to enter and leave Malaysia without any restrictions.
Can I extend the programme after the initial 10 years?
Yes. If you fulfill the criteria setforth at the time of renewal, the Social Visa Pass will be renewed.
Can I apply for Permanent Residency after joining this programme?
Yes, applicants may apply for Permanent Residency after holding the Social Visit Pass for a minimum of five years. However, please note that the Immigration Department in Malaysia does not guarantee that you will successfully obtain a permit to stay permanently. As long as you meet the application criteria, the renewal of the Social Visit Pass should not be a problem.
What about my dependents?
Applicants may submit their spouse and children under the age of 18 as dependents. All other persons must be shown to be financially dependent on the applicant to qualify as a dependent.
What is the length of time taken for the approval process?
Most applications will usually either be approved or rejected with one month.
The Fixed Deposit Required
Can I withdraw my fixed deposit after successfully joining this programme?
Participants must maintain their fixed deposit at all times under this programme unless approval is granted by the Ministry of Tourism of Malaysia. Participants may withdraw the fixed deposit at any time should they decide to end their stay in Malaysia under this programme. However, after a period of one year, participant who fulfills the fixed deposit criteria can withdraw up to RM90, 000- 00 or USD25,000-00 for the purchase of house, education of children and medical expences in Malaysia. Participant must maintain a minimum balance of RM60,000-00 or USD15,000-00 from second year onwards and throughout stay in Malaysia under this programme.
With which banks am I required to place my fixed deposit?
As of 25 June 2004, the fixed deposit can be made at ANY financial institution, (including foreign banks with local branches) in Malaysia.
The fixed deposit be made in a foreign currency?
The fixed deposit for this programme may be opened either in US Currency or Malaysian Ringgit. Once the fixed deposit account is opened in US Currency, it must be maintained in that Currency throughout your stay in Malaysia.
With Malaysia's existing controls on foreign currency exchange,
can I exchange my Ringgit back to foreign currency when leaving the country?
Yes. You may exchange your Ringgit as long as you can show that the currency was legitimately brought into Malaysia as foreign currency.
Employment Opportunity Locally
Can I seek employment under this programme?
You are NOT allowed to work under this programme. However, certain people with special skills may be able to apply for a work permit from the Immigration Department of Malaysia.
What about setting up my own company?
As long as you abide by the laws on foreign investment in Malaysia and other requirements setforth, you may do so.
Can property ownership in Malaysia be considered as having
fulfilled the financial criteria for this programme?
No. Participants are required to fulfill the fixed deposit requirement, as the purchase of a house in Malaysia is not compulsory under this programme.
Will a local financial institution consider approval for a loan
should I decide to purchase a local property?
Yes. You may apply for a loan for up to 60% of the value of the property. Subject to qualifications.
Any restrictions on the type of property?
Your may purchase up to 2 residential properties in Malaysia. They can either be landed or highrise. However each must be valued at more than RM150, 000-00 to RM 350,000-00 each, depending on the location.
Car Purchasing and Driving License
What incentives do I have to purchase a car for use in Malaysia?
A participant can choose to either:
Can I drive in Malaysia?
- Import one car subject to approved permit (AP), which is exempted from import duty, excuse duty and sales tax.
- Purchase one car in Malaysia which is exempted from payment of excise duty and sales tax.
Malaysia recognizes all international driving licenses as long as your original license is still valid.