Latest requirements for second homes in Malaysia

After the promulgation of the second new housing policy in Malaysia, not only the specific conditions have improved, but also the immigration supervision is 90 days a year. The second hometown has essentially become a tourist visa (for consumption purposes) and a non-investment visa, so the visa time has also been shortened.

Malaysia second home

Malaysia's Second Home Program is mainly a "long-term visa" program launched by the Malaysian government, which aims to attract foreign rich people to invest, spend and enjoy in Malaysia. Because this plan is only a "visa", it will require the financial proof of the applicant. At the same time, in order not to affect the employment of local people, applicants will also be affected by restrictions such as not being able to apply for local jobs.

New policy for the second suite

You must have lived in Malaysia or have lived in Malaysia for at least 90 years.

The long-term residence visa was changed from 10 year to 5 years. You can apply for an extension of five years after five years. Must meet the application conditions;

Applicants or their families must apply for a replacement card, change the principal applicant, change the applicant, nationality, etc. , and must pass the security screening;

All applicants must submit no criminal record. In the past, the main applicant only needed to provide it;

Applicants are divided into two categories according to their age: 35-49 years old, and those over 50 and under 34 cannot apply. Applicants aged 35-49 have two additional conditions: the principal applicant and spouse must live to be 90 years old every year. For every additional Catholic applicant, the bank deposit must be increased by 50,000 pounds (including spouse, children and parents over 60 years old).

Malaysia's Ministry of Interior cooperates with the Ministry of Tourism to promote the second home plan;

The income of the main applicant increased from 1 RM 40,000;

The time deposits of Malaysian banks increased from RM 6,543.8+0.5 million/300,000 to RM 6,543.8+0.5 million. 50% of them can be used for buying houses, cars, children's education or medical purposes;

The applicant must declare at least RM 654.38+0.5 million in current assets when submitting the application; It used to be a current asset of RM 350/500,000;

Visa fee increases: from RM 90+30= 120 to RM 500+30 = 530 per year. The 5-year visa fee is 5 years X 530 = 2650. In addition, the Immigration Bureau will charge the principal applicant a processing fee of RM 5,000 and each family member a processing fee of RM 2,500.