What problems should Malaysian immigrants pay attention to?

# Malaysian Immigrants # Introduction Moving to Malaysia is the goal of many immigrants. As far as panda immigrants are concerned, Malaysia has an immigrant visa application called "Second Home Program". Because of Malaysia's low entry threshold, fast application processing and warm and comfortable natural environment, this kind of visa application is very popular in the immigrant sales market. This paper will specifically analyze what problems Malaysian immigrants need to pay attention to. Let's have a look!

1. What problems should Malaysian immigrants pay attention to?

If you have a Malaysian wife/husband, can you still apply for the MM2H project? What problems should Malaysian immigrants pay attention to? You must need this FAQ!

Previously, if you had a Malaysian spouse, you were not eligible for an MM2H visa and needed to apply for a "spouse visa". Fortunately, the rules have changed. If your wife/husband is Malaysian, you can apply now.

Do I have to go to Malaysia immediately after I get my MM2H visa?

You don't need to move to Malaysia, or even spend the least time every year. The visa allows you to enter and leave at will.

I'm not married, but my partner and I have lived together for a long time.

Can she apply for this plan?

If you are not married, you will need to apply separately, so you need to be eligible to participate in the program.

If I apply for MM2H, will I get public relations (permanent residence) status?

Unfortunately, holding a MM2H visa cannot make the applicant stay permanently, nor can it be converted into PR status. The MM2H visa is a 10-year visa, allowing applicants to enter and leave Malaysia flexibly without any restrictions.

Housing survey

If I am approved, do I have to buy a house?

The plan does not require the purchase of any property. According to TheExpatMagazine's research, about 20% of immigrant applicants choose to rent or live in serviced apartments.

Can foreigners only buy new properties in Malaysia, such as developers, or can they buy any properties, such as individual owners (second-hand or third-hand properties)?

Every state in Malaysia has its own property purchase rules. Generally, foreigners can buy any property that exceeds RM 65,438+0,000,000, but the regulations in some states are slightly different, and some states set a lower limit for those who hold MM2H visas.

If I buy a real estate, do I still need to deposit a time deposit?

Yes, you must deposit a time deposit, but if you buy a property in Malaysia, pay for medical care or pay for your children's education, you can reduce your deposit.

Can I start a company or buy a company in Malaysia under MM2H?

You are allowed to start business or buy business, but you are not allowed to participate in the daily operation of the business. In this case, you need to apply for a work visa.

Can participants buy duty-free cars?

MM2H applicants are no longer allowed to import or buy duty-free cars.

financial counselling

MM2H Does every adult and child need to apply for an economic deposit?

Time deposit only needs to be made by the principal applicant. Family members don't need one.

When can I withdraw my time deposit?

Only time deposits can be withdrawn from the plan. Partial withdrawal is allowed after one year, but people over 50 years old must keep a minimum of RM 654.38+0.5 million between time deposit and RM 504.38+0.5 million. Part of the withdrawal is only allowed to include the following contents-purchase of real estate, purchase of cars, education of children and medical expenses.

My pension and other income are taxed at the source. Even though there is no tax in Malaysia, I still pay taxes in my country, so I don't get any economic benefits.

If your country/region has signed an agreement with Malaysia to avoid double taxation (such as Britain and Germany), you can register with the Malaysian tax authorities, even if you are not obligated to pay taxes in that country. Then, you can show this information to the tax authorities in your country, and the tax authorities may authorize your pension to be tax-free.

What is my tax liability in Malaysia?

Overseas income is tax-free in Malaysia, although it may be taxed in the country where it is paid. Some MM2s managed to get exemption from state taxes on the grounds of living in Malaysia. Any income earned in Malaysia is taxable in Malaysia. There is no inheritance tax in Malaysia. Foreigners can pay 30% real estate tax in Malaysia and 5% later if they sell within 5 years after the acquisition.

Should time deposits charge interest?

The interest on time deposit shall not be less than RM 654.38+, excluding tax. Therefore, banks usually split your time deposit into separate deposits below this amount.

How much interest can a time deposit give me? Can I keep the money?

You can keep the interest on the time deposit. The interest paid to foreigners varies from bank to bank, but it is about 3.0% at present.

Can I open a Malaysian bank account abroad?

Once you are approved by MM2H and have a bank account in your own country, you can sometimes arrange to open an account in a branch in Malaysia. Otherwise, you can open one when you get here. I suggest you join the MM2H plan.

Once approved conditionally, can I enter the country, deposit cash in a local bank and open an account?

Most customers will open FD accounts when they arrive in Malaysia. It is simple to set up an FD account, but it may take several days to transfer funds from your country to a bank account here. According to the immigration law, you can only carry a certain amount of cash for arrangement.

2. There are so many immigrant countries, why choose Malaysia?

Malaysia is a country located in the center of the Indian Ocean, and the region is very complicated. The long coastline is home to Malaysian beaches and one of the most beautiful beaches in the world. However, as far as natural beauty is concerned, these are not all that the country can provide.

Apart from its outstanding natural scenery and extremely diverse natural geographical environment, Malaysia is also home to some vibrant and exciting international metropolises. Kuala Lumpur, the capital of the country, is rated as the Alpha World City and is the cultural and economic center of Malaysia. Here, you will find a truly first-class modern city. In recent years, it has held many important events on the world stage, such as 1998 Commonwealth Games and Formula One Grand Prix. Kuala Lumpur also has Petronas Petronas Twin Towers, which is a perfect symbol of the modernization of the city and even Malaysia.

In short, Malaysia is an extremely diverse country. No matter your preference or the reason for moving to other countries, you can definitely find something suitable for you in Malaysia. If you want to spend some time in the sun and enjoy the beautiful sunshine, you can make full use of Malaysia's vast coastline. If you want to observe all kinds of wild animals and plants found in forest areas, then inland houses may be more to your taste. Of course, if the pleasure you are looking for only comes from living in a rapidly developing international city, why not try living in an apartment in Kuala Lumpur, Malaysia's amazing capital?