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Financial Requirement
Successful applicants are required to comply with the following financial criteria upon receipt of the approval letter' from the Immigration Department of Malaysia.
Applicants are expected to be financially self-supporting for a period of ten years on this programme in Malaysia, without the need to work in the country. Besides fulfilling the basic financial criteria of a Fixed Deposit placement of RM150,000 (for those aged 50 and above) or RM 300,000 (for those aged below 50), applicants should furnish documentation on their financial position to strengthen their applications.
i. Aged Below 50 years old
- Open a fixed deposit account of RM300,000.00.
- Provide a proof of monthly off-shore income of RM10,000.00 such as pension scheme.
- After a period of one year, the participant can withdraw up to RM240,000 (USD 65,000) for purchase of houses, medical expenses or children's education.
ii. Aged 50 years and above
- Can either choose to:
- Open a fixed deposit account of RM150,000.00;
- Provide a proof of monthly off-shore income of RM 10,000 (USD3,200) (e.g. payment slip, bank statement, income tax statement, etc.)
- After a period of one year, the participant can withdraw up to RM 90,000 (USD28,600) for purchase of houses, medical expenses or children's education.
Note
1. Successful applicants need to open their fixed deposits in Ringgit Malaysia (RM) only.
2. Participants need to obtain prior approval from the Ministry of Tourism before proceed to withdraw the fixed deposit
3. Participants under this programme may withdraw their entire fixed deposit at anytime should they
decide to terminate their stay in Malaysia under this programme. However, they must obtain prior
approval from the Ministry of Tourism.
Medical Report
All applicants and their dependents (spouse and children) are required to submit a medical report from any private hospital / registered clinic in Malaysia.
Medical Insurance
Approved participants and dependents (spouse and children) must possess a valid medical insurance policy which is applicable in Malaysia.
Restrictions
Participants under Malaysia My Second Home Programme are not allowed to work/be employed while staying in Malaysia.
In addition, they should not participate in activities that can be considered as sensitive to the local people and a threat to the security of the country.
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