Malaysia Second Home Latest Requirements 2023

After the promulgation of the new Malaysian Second Home policy, not only the specific conditions have been improved, but the immigration supervision is 90 days per year. In essence, the second home has become a tourist visa (for consumption purposes), not an investment visa, so the visa time Also shortened.

Malaysia Second Home

The Malaysia Second Home Program is mainly a "long-term visa" program launched by the Malay government to attract wealthy foreigners to invest, consume and enjoy conveniences in Malaysia. . Since this program is only a "visa", it requires proof of financial resources of the applicant. At the same time, in order not to affect the employment of locals, applicants will also be affected by restrictions such as their inability to apply for local jobs.

New Second Home Policy

Must be in Malaysia or settle in Malaysia for at least 90% in one year.

The long-term residence visa is changed from the original 10 years to 5 years. After 5 years, you can apply for an extension for another 5 years. Must meet the application conditions;

Applicants or their family members who apply for document renewal, change of main applicant, change of applicant, nationality, etc. must go through and pass security filtering;

All applications People must submit a clean criminal record. In the past, only the main applicant needed to provide it;

Applicants are divided into 2 categories according to their age: 35-49 years old. Those aged 50 and above and under 34 years old cannot apply. Applicants aged 35-49 years old have two additional conditions: the main applicant and his/her spouse must live for 90 days each year. For each additional person in the main applicant's bank, the bank fixed deposit must increase by RMB 50,000 (including spouse, children, children over 60 years old) Parents)

The Ministry of Home Affairs and the Ministry of Tourism of Malaysia work together to promote the Second Home Program;

The income of the main applicant has been increased from RM10,000 to RM40,000;

The fixed deposit of Malaysian banks is increased from MYR 150,000/MYR 300,000 to MYR 1 million. 50 of which can be used to buy a house, a car, children’s education or medical purposes;

Applicants must declare at least RM1.5 million in liquid assets when submitting the application; in the past, it was RM35/500,000 in liquid assets. Assets;

Visa fee increase: from RM90 30=120 per year to RM500 30=RM530. The visa fee for 5 years is 5 years X 530 = RM2650. In addition, the Immigration Department will charge a processing fee of RM5,000 to the main applicant and an additional processing fee of RM2,500 for each dependent.