Malaysia My Second Home Programme, Malaysia 2nd Home Program or just simply MM2H is a long term visa that allows foreigners to stay in Malaysia for as long as they like. It was set up by the Malaysian government as a way to attract foreigners to stay long term or retire in Malaysia. Visas from other Asian, Latin/South America an European countries are open to those above the age of 50 or 55. For MM2H, it is 21 years old. Thus this program is never promoted as a retirement visa but a long term visa. Successful young internet entrepreneurs and business owners are making Malaysia their second home as they can remotely control their company through internet. They are not ready for retirement but they are ready to live their life to the fullest. Malaysia offers modern conveniences that are comparable (if not better) to the developed nations but at a fraction of the cost.
As compared to other countries' retirement program, Malaysia My Second Home visa is the longest duration at 10 years. This program is also very structured and systematic. Thus, participants have nothing to worry about Immigration matters annually.
Malaysia's My Second Home Programme is successful in welcoming participants even though the requirements of this program is the highest in the world (as a non-investment type of residency). The participants must show a certain level of financial strength and commitment in staying in this country as they need to deposit a sum of money in a bank in Malaysia.
Malaysia My Second Home Programme is successful in 3 fronts:
- It has brought in a lot of financial resources to the country. With a very respectable interest rate of time deposits (note that practically all the developed countries have close to or less than zero percent intrerest), many participants has brought in extra to take advantage of the interest rate. Coupled with the fact that the financial regulation of fund transfer is liberal, many are at ease to increase their financial strength here in Malaysia. Part of it spent here in Malaysia, thus, spurring more economic activities.
- As the requirements are significantly higher than other countries, it attracts a different category of people. Thus, those who are approved under this program are those who appreciates diversity and sensitive to local cultures. These are the people whom you don't mind having as neighbours. Malaysian celebrates diversity. We warmly welcome everyone in to the community and it can be seen from Perlis to Johor, Sabah and Sarawak. It is part of the culture of Malaysians to offer hospitality to all foreigners. Ask any tourists and you will get the same answers "the people here are so warm and friendly". Malaysia 2nd Home Program has successfully welcomed citizens of many countries.
- MM2H has attracted people with skills that are useful to the country. Malaysia has welcomed many profesionals, professors, executive, technical specialists and doctors/specialists. Many of them are working part time in colleges, companies or even collaborating with organizations. These people play a very important role in improving the capabilities of locals.
In short, MM2H is a win-win for everyone, from young entrepreneurs, retires to professionals working in other countries but making Malaysia their base. Be it a lower cost country to retire or staying in one of the best places in the world; be it enjoying their life to their fullest or making use of Malaysia's great healthcare facilities, MM2H is here for them to explore life (or to remind them what they have missed in life!).