Buy property for sale in Malaysia my second home.
The Malaysian Government welcomes
people from many countries to live in Malaysia under the
"MALAYSIA - MY SECOND HOME PROGRAMME" which grants
a social visit pass, valid for up to ten years and which
comes with a Multiple Entry Visa if a Visa is necessary.
Currently UK nationals do not need a Visa to enter Malaysia.
The pass does not entitle the holder to permanent resident
status in Malaysia. Generally, there is no age limit on
who can apply and successful applicants may bring their
dependents (wife and children below 18 years of age) with
them and they can also employ a maid.
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Individuals looking
to buy property and live in Malaysia do not necessarily
need to apply for the "MALAYSIA - MY SECOND HOME PROGRAMME"
and many people do reside in Malaysia legally without taking
advantage of some of the benefits of this programme.
What Requirements Financially are
there?
The government recently made the financial process easier
and now the only financial requirement is a deposit of $75,000
for one year. The fixed deposit is, of course interest bearing
and can be withdrawn after 12 months. There are few other
requirements and responsibility for the applications has
been transferred from the Immigration Department to the
Ministry of Tourism.
Individuals moving to Malaysia under the Second Home programme
will, of course, have to be bound by the taxation policies
and regulations of Malaysia, but there are tax advantages
that make moving to Malaysia an attractive option.
Children and Domestic Staff
Of course, whilst the programme is
designed for people staying up to ten years, the length
of the pass issued will depend on the expiration of the
person's passport, so it is advisable to have a full ten
year passport for those wanting to stay the maximum permitted
time. Generally speaking, no sponsor is required and people
can submit their application without a sponsor, but the
Immigration Department does reserve the right to request
a sponsor if deemed necessary.
Most people will have medical insurance coverage
and it is advisable for applicants to have a medical insurance
policy from an insurance company recognised in Malaysia.
However, under the programme, it is optional for people
above 50 years of age.
For people who want to bring their children it is
necessary to enrol them in a school or other institute of
higher education that is recognized by the Malaysian Government.
This is so the correct stamp can be put into the child's
passport and the correct student pass can be issued.
In addition to dependents, the Malaysian government also
allows people to bring along their maid or apply for one
from outside the country. This process is subject to the
same terms and conditions as for resident Malaysians, many
of whom employ domestic staff from overseas, and there are
many agencies in Malaysia that specialise in the recruitment
and supply of overseas maids or "amahs".
New Property for sale in Malaysia will
be added shortly please check back regularly.
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