Copyright © 2013 - 2018. Tai Pan Management Services Ltd., Company Service Provider Licence No. TC004077
Registered in Hong Kong. No 1942748
Tai Pan International
No tax. Malaysia operates territorial taxation that applies to both Malaysian citizens and to MM2H residents. This means that only income earned in Malaysia is taxable, whilst income earned outside Malaysia and brought into the country is tax-free. This opens the possibility of living in Malaysia and operating a business through a foreign (offshore) company completely tax free and of course completely avoiding CRS (common reporting standard).
No requirement to spend 183 days+ in Malaysia - or any days at all!
No requirement to purchase or even rent a property. There is however no problem with foreigners purchasing property or land in Malaysia – in contrast to many other countries in South East Asia (e.g. Thailand, Indonesia etc.). If the primary purpose of seeking MM2H is to reduce income taxes, we would strongly suggest, at the very least, that a modest property is rented in order to have proof of address in Malaysia. Quality of life. Life in Malaysia is relatively inexpensive. It is quite common to have a live-in maid at a very reasonable cost. Overall, the cost of living is half of that in Europe, and property prices are still affordable.
English is widely spoken. Although the official language of Malaysia is Bahasa Melayu, English is widely spoken and is the language in which business is conducted.
Please contact us for further information.
What makes Malaysia attractive?
There are a myriad of possible answers ranging from the variety of food, the warm and sunny weather, the idyllic islands and beaches, the entertainment and the huge variety of shopping.
How can I take advantage of this scheme?
The Malaysia My Second Home scheme (commonly abbreviated "MM2H") is an International residency scheme enacted by the Government of Malaysia to allow foreigners to live in the country on a long-stay visa of up to 10 years.
To qualify for the scheme, applicants must meet certain financial and medical criteria.
a) Those under 50 - Proof of minimum liquid assets of RM 500,000 (c. US$ 120,000).
b) Those over 50 - Proof of minimum liquid assets of RM 350,000 (c. US$ 85,000).
c) All Applicants must show income earned outside of Malaysia of a minimum RM10,000 (c. US $ 2,400) per month. This income can also be a pension for those retired.
Please note the government of Malaysia has announced that it intends to change the financial criteria for obtaining MM2H from September 2017. We are awaiting full details, but we understand that the concessions for those over 50 will be withdrawn and that the deposit with the Malaysia bank will be set at RM500,000 (c. US$120,000) with a possibility to withdraw 50% of this amount after 12 months.
Our fee for handling the application throughout is: US$ 5,000.
Additionally, you will need to settle directly the various (but modest) government fees that apply on receipt of the visa.
Malaysia offers a residency scheme called “Malaysia My Second Home” – in short MM2H. Unlike many other similar schemes there is no need to spend the usual 183 days (6 months + 1 day) in the country, or even purchase/rent a property. The scheme offers a 10 year multiple entry visa which gives the MM2H resident complete freedom to come and go to and from Malaysia, whether for the European winter months or to live there.