When you go into the website on Malaysia My Second Home, you will be asked to take a moment, and consider Malaysia as a country to live in. Over the years, the government has been actively promoting a programme called Malaysia My Second Home. This is of course, if the person is able to fulfill the requirements set by the government. The invitation is to stay as long as you can with a multiple entry visa.
To take the first step, one has to comply with the following financial criteria to be capable of supporting oneself for ten years on this programme without the need to work in the country. If you are 50 years of age and above, a fixed deposit placement of minimum RM150,000 or maximum RM300,000 and for those below this age, they will have to provide documentation disclosing their financial position to support their application.
The programme provides several incentives to make your stay comfortable and enjoyable. You can for example, purchase a residential house at a RM250,000. Generally the minimum price for houses in Malaysia can range from RM250,000 to RM300,000. At the same time, a participant of this programme is allowed to bring in a car for personal use or buy a locally-assembled car without the need to pay import duty, excise duty or sales tax. You are also able to bring your children who are under 18 years old and not married as dependents under this programme. The children of residents who intend to continue their schooling in Malaysia can apply for a student pass and have to be insured throughout their stay.
Initially the social visit pass is for a period of ten years and is renewable. It is open to all citizens of countries recognised by the government of Malaysia. Residents under the Malaysia My Second Home are bound by the policies, systems and regulations of taxes of the host country. However, tax exemptions are given to pension remitted into Malaysia. All applicants and dependents will also have to be medically fit and have valid medical insurance.
If you are considering Malaysia as your home away from home, you will be happy to note that you do not have to leave your pets behind. You will have to obtain an import permit from the Department of Veterinary Services who will issue a veterinary health certificate and your pets will have to be quarantined. However please leave your exotic pets at home as certain breeds are not allowed into the country.