Applicants are expected to be financially capable of supporting themselves for ten years on this programme in Malaysia, without the need to work in the country. Besides fulfilling the basic financial criteria of Fixed Deposit placement of RM150,000 (for those aged 50 and above) or RM 300,000 (for those aged below 50), applicants should furnish documentation on their financial position to strengthen their application.
i Aged Below 50 years old
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- Open a fixed deposit account of RM300,000.00.
- After a period of one year, the participant can withdraw up to RM240,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
- Must maintain a minimum balance of RM60,000.00 from second year onwards and throughout stay in Malaysia under this programme.
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| ii Aged 50 years and above |
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- Can either choose to:
- Open a fixed deposit account of RM150,000.00 ; OR
- Show proof of monthly off-shore income of RM10,000.00 in government pension.
- After a period of one year, participant who fulfills the fixed deposit criteria can withdraw up to RM90,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
- Participant must maintain a minimum balance of RM60,000.00 from the second year onwards and throughout his/her stay in Malaysia under this programme.
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| 1 Successful applicants need to open their fixed deposits in Ringgit Malaysia (RM) only.
2 Participants need to obtain approval from Ministry of Tourism before proceeding to withdraw the fixed deposit
3 Participants under this programme may withdraw their entire fixed deposit anytime should they decide to terminate their stay in Malaysia under this programme. However, they must obtain prior approval from the Ministry of Tourism.
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| Medical Report |
| All applicants and their dependents (spouse and children) are required to submit a medical report from any private hospital / registered clinic in Malaysia. |
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| Medical Insurance |
| Approved participants and dependents (spouse and children) must possess a valid medical insurance policy which is applicable in Malaysia. |
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Participants under Malaysia My Second Home Programme are not allowed to work/be employed while staying in Malaysia.
In addition, they should not participate in activities that can be considered as sensitive to the local people and a threat to the security of the country.
Source : Malaysia My Second Home Site
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