MM2H Visa Benifits
Several benefits are there to be derived once you join MM2H visa program
Let’s know about the MM2H benefits:
- No need to pay tax on your foreign remittances. You can remit both the employment earnings as well as pension in Malaysia without tax.
- 2.You can enjoy a tax-free import of your existing vehicle or purchase a tax-free car. You are allowed to import or buy a new car with a single application. Both facilities cannot be provided.
- We mentioned earlier that healthcare in Malaysia is advanced. The price of Malaysian medical insurance is reasonable. As an MM2H holder, you are permitted to buy medical insurance from the insurance companies, which are working in Malaysia.
- No additional tax for bringing your pets as well as other used household goods to Malaysia.
- If your maid has been working for a long time before moving to Malaysia, you can bring him/her along without paying extra tax.
- Only the main applicant can bring his/her parents as the dependent members if they are above 60. Parents will be provided with a renewable visa of 6 months. It’s not applicable for his/her spouse’s parents.
- If you have children under 21 years as dependent members, with the help of MM2H visa they can study in Malaysian private schools and private colleges.
- When you have MM2H visa on your passport, you can purchase maximum two units of property at a cost of RM500,000 per property. If you don’t have one, single unit will cost at least RM1,000,000 (apartments) or RM2,000,000.
- Participants aged above 50 might be allowed to work on part-time basis (it will 20 hours per week) though it is a subject to approval.
- ‘Grandfather clause’ is a major reason of MM2H’s popularity. For the renewal of MM2H visa in every 10 years, you will require the same documents, which were needed during application.
Why does MM2H stand out when compared to other countries’ retirement visa?
Look at these following reasons:
- This program offers you the facility of longest stay in Malaysia i.e. 10 years
- Stay in Malaysia for as long as you want. Once you have the visa, you can start living readily or 20 to 30 years later. No minimum or maximum days to stay in Malaysia, if you wish, you can settle down in Malaysia for the rest of your life. Renew the passport in every 10 years.
- As it is a multiple social visit pass, you can keep visiting other Asian countries whenever you like and notifying the authority is not required.
- With MM2H, it is not mandatory to purchase any property or have any permanent address in the new country. In fact, you might join your friends in Malaysia or live somewhere else.
- You are not bound to make the authorities or anyone else know where you are living in Malaysia. Stay wherever you want, except Sabah and Sarawak.
- MM2H is not completely a retirement visa. The minimum age limit is above 21 for the young entrepreneurs and business personalities who can continue working through internet. They are not at the age of retirement but they want to enjoy a better life with MM2H visa.
Years ago, prior to the planning of MM2H program, a thorough comparison was made with equivalent programs all around the world. To eliminate the complaints and deficiencies of those programs, MM2H was made an ideal visa program for all.
General complaints that take place include-
- Retirement visas from other countries are valid only for a year whereas MM2H offers you the 10-year renewal facility.
- The renewal procedure of other visas is painful and tiring as the local immigration officers may explain the requirements in different way. However, the MM2H application and renewal is incorporated in Putrajaya.
- I am quite perplexed with the rapidly changing requirements and conditions in other countries. Should I invest that much in a new country? If I can’t renew my long-term visa, what’s next? To solve such issues, MM2H offers the ‘Grandfather Clause’.
- I would love to travel around the world instead of staying in the country. So, my visa might be a waste. MM2H does not require any ‘minimum stay’, it allows the participants to enter or leave the country whenever they like without informing the authority.
- I don’t want to purchase or rent a property in this new country. In fact, I am not ready for any kind of big investment here. So, what should I do? MM2H will never force you to rent or purchase any property.
- Reporting others on my whereabouts is not acceptable. MM2H neither asks you to notify the authorities nor forces to maintain an authentic address in Malaysia. Do anything you like. Just ensure that it does not go against the Malaysian law or the requirements of MM2H visa.
Why should you choose to stay in Malaysia?
Apart from the MM2H benefits, Malaysia gives you some more reasons to stay here.
- English is a very common language in Malaysia
- The local people welcome the foreigners warmly into their own community and treat them as their neighbors. They are kind-hearted people and hypocrisy doesn’t exist.
- You can enjoy the inheritance law here without inheritance taxes
- The law system is strict and no violence is tolerated. As a result, the number of crimes is less in this country. The racial as well as religion tolerance in Malaysia has brought peace and prosperity in the country.
- Malaysia offers better living standard than the developed countries at a more competitive price.
No unwanted surprises will be awaiting. And at the same time, renewal procedure of the MM2H visa is simple. Even if some new MM2H visa benefits are added to the list, which were not mentioned at the time of your application, you are still permitted to enjoy them.