Malaysia Second Home is a long-term residence visa program launched by the Malaysian government to encourage foreigners to live in Malaysia for a longer period of time. It has the advantages of simple processing conditions, low net cost, simple procedures, deposit status, and fast processing. sought after by the market. The investor immigration insider has a data about the two companies in Malaysia. In 2019, nearly 8,000 customers applied for the two companies, surpassing the EB-5 in the United States and becoming the most popular investment immigration program in the world. Since 2011, the number of applicants for Chinese nationality has continued to increase, and by 2019, the proportion will be as high as 35%. These two sets of data fully demonstrate that the Malay Second Home is very attractive to those who want to move overseas.
Malaysia Second Home Application Conditions
Malaysia second home application conditions:
1. The main applicant must be over 35 years old;
2. The main applicant and accompanying persons have no criminal record;
3. The main applicant provides a deposit certificate of MYR 1.5 million, which is equivalent to RMB 2.3 million in bank fixed deposit for one year, which can be used freely after approval;
4. In the past 3 months before submission, the bank statement of monthly income of MYR 40,000 equivalent to RMB 60,000 is credited to the account;
5. After the approval, applicants over 50 years old need to deposit 1 million MYR in a local bank in Malaysia. For applicants aged 35-49, on the basis of 1 million MYR, the deposit needs to be increased by 50,000 MYR for each additional accompanying person. . In the second year, half of it can be used for reimbursement of car purchases, house purchases, medical care, and education.
Malaysia Second Home Application Process
There are 7 steps in the application process, and the cycle is 6-8 months
STEP:01 Sign a contract
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STEP:02 Submit information
Submit a full set of documents to the Malaysian Immigration Department
STEP:03 Get file number
The Malaysian Immigration Department issues a paper file number
STEP:04 Data review period
After obtaining the file number, the Immigration Bureau will review the information
STEP:05 Get the approval letter
The Immigration Bureau issued an approval letter and began to prepare for the landing
STEP:06 Open an account
Make a deposit of MYR 15/300,000 after opening the account
STEP:07 Login sticker
Landing in Malaysia for physical examination, purchase of insurance, and sticker
