Malaysia - question about Malaysia my 2nd home (MM2H) program

Q:

As Salaam Alaikum Wa Rahmatullah

I am interested to know details about the MM2H program from someone who has succeeded in gaining such a VISA. If anybody has applied for this program and attained it, please reply so that I can ask you my questions.


A:

Wa alaikum as salaam wa rahmatullah.

For MM2H, there is a website that provides a lot of the details and allows for application through it http://www.mm2h.gov.my/. The program is mostly targeting high income individuals who are retiring or want to have part time residence in Malaysia. The main requirements for the program [http://www.mm2h.gov.my/index.php/en/home/programme/terms-conditions] is high amount of cash on hand, willingness to put 300,000RM in a Malaysian bank fixed deposit, and having a non-malaysian based income of at least 10,000RM/month. With the ringgit currently experiencing rapid devaluation (from 3.1RM / 1USD to 4.1-4.5RM/1USD) and the rapid increase in housing prices over the last few years (100% or more), the requirements may seem a bit easier now.

Originally the program did not allow participants to take up any form of employment in the country. This has been relaxed to allow part time work. Part time jobs are not very common here.



Q:


By jobs, do you mean employment inside the country, right?

What if someone has online sources of income from outside the country, would that be acceptable?



A:


That might work for the proof of income, and I'm sure they wouldn't try to consider that as being employed in Malaysia.

While I was searching around recently, I came across something that might be an interesting way to come to Malaysia via business startup. Normally setting up a company has a lot of restrictions, but if it is done in Labuan [special status / duty free island in East Malaysia], it looks much cheaper and less restrictive. http://labuanbusiness.com/comparison-of ... a-sdn-bhd/. I'm not familiar with anything related to setting up a company though. This would be interesting to know more about. The company being set up could be an online business or consulting/coaching type of busine