Sunday, January 18, 2009

My Second Home Program, Sabah (Malaysian Borneo), Malaysia

Malaysia - My Second Home" program is to allow people from all over the world, who fulfill certain criteria, to stay in Malaysia as long as possible on a social visit pass with multiple entry visa. The Social Visit Pass is initially for a period of 10 years and renewable.

Who is Eligible to Apply?

It is open to all citizens of countries recognized by Malaysia regardless of race, religion, gender or age.The applicant must prove a minimum fixed deposit of RM300,000 with any Malaysian financial institution AND have a monthly offshore income equivalent to at least RM7,000 if single or RM10,000 if with spouse.

But if applicant is above 50 years old, he has only to prove either a fixed deposit of RM 150,000 OR a monthly income as stated.

Other Conditions

Having a reputable sponsor can be a help due to more professional and more understand the requirement and the process of the application. Further more, by apply direct to the immigration or the ministry you still need to find a local SPONSOR to sponsoring you for this 10 years VISA. However, this condition is not required if the financial background and status of the applicant satisfies the Processing Officer.To have a medical report from any recognized hospital.A medical health insurance valid in Malaysia.The successful applicant cannot seek gainful employment in Malaysia unless he posseses special expertise and obtains the permission of the Malaysian government

Why Malaysia?

Governmental support :

This program is initiated, organized and launched by the Malaysian Government. It is, therefore, a program, that the Government will continuously work to ensure its success.

Standard of living :

Malaysia has one of the highest standards of living in the region with all the modern infrastructure and facilities in place.

Cost of living :

Cost of living is one of the lowest in Asia and will remain so for a very long time. This is achieved through the Government's efficient monitoring of the economy in ensuring that inflation is kept low at all times and thereby also the prices of goods and services.

Weather :

The weather is pleasant, warm and balmy with moderate rain throughout the year, There are also highland residential areas and resorts with permanent spring-like weather throughout the country.

Infrastructure :

The whole country is very well connected with up-to-date, modern road, rail, air, and sea transportation systems. Public transport by buses, taxis, trains and planes are comfortable, efficient and relatively low in cost.

Political stability :

The ruling Government is the longest serving freely elected Government in the world. It is a Government representing all the races, religions, cultures etc. found in Malaysia. In fact, Malaysia is one of the most politically stable countries in the world.

Rule of law :

The rule of law is one of the fundamentals in Malaysia's constitution. Everyone is subjected to the law and also equal before the law. Malaysia practises basically the British system of justice with an independent reliable and dependable judiciary.

Safety :

Statistics can proof that Malaysia is one of the safest countries in the world, its crime rate is relatively low.Religion :Islam is the official religion of Malaysia but the constitution guarantees the right of people to practise other religions.

Culture and language :

The Malay language (Bahasa Melayu) is the national language of the country; English is the second language but other languages can be freely used and practised. Similarly the Malay culture is dominant in the country because the Malays are the dominant race in Malaysia and in the region. But other cultures can be practised very freely and there is a free intermingling of different cultures.

Food and Fruit :

All the food of the world can be found here at very reasonable cost. With so many races and cultures living together in harmony, it is understandable that each race has picked up the best of each other's food and made Malaysia into Asia's Food Paradise. Similarly the tropical fruits of Malaysia are unique, exotic and available in abundance practically throughout the year. It should be a real joy to savour these fruits.

Recreation/Entertainment :

The country has everything for the family,-theme parks, jungle trails/sports, water sports and one of the highest number of golf courses - ratio or population.Shopping :Most of the items that tourists normally like to buy - perfumes, cosmestics, watches, fountain pens, a long list of electronic goods, branded goods etc. are completely free of tax. Quality goods from all over the world are imported and are relatively low in price and sold throughout Malaysia.

Education :

The country has one of the best developed and quality educational systems - both public and private. There are international schools of repute in all major towns with English as the medium of instruction. There are also private colleges and universities offering twinning programs with other well-known universities and major colleges from throughout the world. Therefore, it is the place for quality education from nursery right up to the highest level of university education. It is already becoming an educational center of excellence for the region. Relatively speaking, it is also the place to get quality international class education at a very reasonable cost.

Medical facilities :

The country has a very efficient health system where medical services are provided at nominal cost. Private doctors, clinics and also hospitals of international standards are easily obtainable at very reasonable cost. Malaysia is also becoming a centre for medical facilities in the region.

Residence :

There are quality residences - terrace houses, semi-detached, bungalows, apartments and condominiums all over the country. There are also some of the finest residences available in tourism zones - on beaches, near jungles and near theme parks, recreational places and city centres. Foreigners are eligible to buy 2 houses at a cost of not less than RM250,000 each. For this purpose, they are also entitled for 70% loan from local banks.

How To Apply?

Application can be made direct to :Any Malaysian representative Offices overseas and also Tourism Malaysia OfficesApplications can also be made through agents, lawyers and others.To be enclosed with the application are two (2) passport-size photographs of the applicant, spouse and accompanying children together with relevant supporting documents.Approval Under normal circumstances, all applications that fulfill the criteria should be processed and approved within 30 days after submission of the application.

For Further Info:

Please contact : sabahmysecondhome@yahoo.com

5 comments:

  1. Of great concern to many foreigners is the deep seated hatred towards non Muslims in Malaysia.
    The recent Christian church firebombings by Muslim extremist should be a warning sign to any foreigner that it's welcome is tentative.
    If you are Muslim, the "My second home" program is something to consider.
    If not...go at your own risk
    In addition the growing unrest of ethnic Chinese and Indians, who constitute 40 percent of the population but are treated
    differently by law from ethnic Malays is a reason for concern.
    As long as the government carves out special privileges for Muslim Ethnic Malays I don't see a very bright future for foreigners in Malaysia
    Think of a home as a 30 year investment Then ask yourself...when Malaysia gets to the point where it doens't need to rely on investment from "My Second Home" foreigners and a Malay wants the property your house sits on.....what then?? Could the government apply a new law that gives ethnic Malays first rights to property ownership over foreigners??
    In 1970 about 150 american retirees bought beachfront property in Baja Mexico and built their dreamhomes. Later the legalclaim to the land they thought they had purchased legally was challenged and they ended up being evicted....they lost everything....an expensive lesson.
    http://www.entrepreneur.com/tradejournals/article/131329660.html
    Compare that to the property laws in the United States where even illegal aliens can own and hold title to property just like US citizens. They may face deportation for their illegal alien status ...but nothing can jeopardize their rights as owners of property in the States. They can hold title, sell or will their property just like anyone else. Title insurance protects them against defective title and US law protects their rights to private property.
    Making an investment in a home is a long term move and it would be wise for anyone considering moving to another country just for a lower cost of living to carefully evaluate the stability of the country, the level of corruption, religious and ethnic tolerance, and equal protection under the law.
    Any one of those factors could end up costing you your investment

    In addition, the rules for the "second home" program seems to be changing. Originally a property owner was exempt from capital gains taxes on the property. New rules in effect in 2010 have done away with the exemption. Not sure if this applies retroactively or only to new investors

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  2. Yes, I completely agree with the above discussed points. It is a healthy discussion here for learners
    John Wilson

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  3. This comment has been removed by the author.

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  4. now i am in malaysia with Malaysia my second home programme visa. I would like to travel to australia for holiday. if i apply australia visa in...
    second home malaysia

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  5. Insightful read! This blog sheds light on Malaysia's My Second Home program in Sabah, offering valuable insights into residency and lifestyle options. Informative and helpful for those considering relocation.
    skilled worker visa

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