Listed below are some of the benefits of joining the MM2H visa:
No taxes on foreign remittances into Malaysia. Your employment income and pension can be remitted here without any taxes.
You can buy a tax-free car or import your existing car tax-free. One car per application, either import or purchase but not both.
You are allowed to purchase medical insurance from insurance companies operating in Malaysia. We were informed that Malaysian medical insurance is very competitively priced.
You can bring in your pets and used household effects tax-free.
You can bring in a maid who has worked for you before you move to Malaysia.
Parents of main applicant (not the parents of the spouse) who are more than 60 years old can be made dependents of the visa. He/she can bring in his/her parents as dependents and are given a renewable 6-monthly visa.
Children with the MM2H visa are allowed to study in local private schools and colleges.
In Penang, the minimum purchase price of properties is lower for MM2H holders at RM500,000 per property (maximum 2 units).
Participants are who older than the age of 50 may be able to work part time (20 hours a week) but it is subjected to approval.
Grandfather clause. You renew the MM2H visa (every 10 years) with the same set of requirements that you have used during application. There will be no surprises and generally, renewing the MM2H visa is easy.
If there are new MM2H visa benefits, you get to enjoy them even though it is not present during the time of your application.
The following benefits are the features that makes MM2H stands out (as compared to other countries' retirement / long term visa):
- No "minimum days to stay in Malaysia" requirement. You can get the visa and start staying 20 or 30 years later
- You can stay for as long as you like. You can start staying immediately after getting the visa and never leave Malaysia at all. You just need to renew your passport at consulate in Malaysia
- MM2H is renewable every ten years and it can go on indefinately. No worries about "I am not staying in Malaysia and the visa is a waste"
- You are given multiple entry visas and you can go in/out of the country as many times as you like without informing the authorities
- You are not required to buy or rent a property. You are not required to have an address in Malaysia. You can stay with your friends or not even staying here at all.
- You don't have to report to anyone or any authorities on where you stay. You can stay anywhere you like (Except Sabah and Sarawak).
- The minimum age is low at "above 21 years old" and we have many young entrepreneurs, especially those working on the internet staying in Malaysia under this program. Thus, MM2H is not a retirement visa but a long term visa as those entreprenuers are not at retirement age.
When MM2H visa was created years ago, a reference and comparison with similar programs from other countries were made. The deficiencies and complaints that were made against these programs were addressed by MM2H, thus making it the ideal program. Examples of complaints are
1. Retirement visa that is valid for one year only (10 years for MM2H)
2. Renewal of visa is a pain as it depends on the whims and fancies of the local Immigration officer who may interprete the requirements differently. (MM2H application and renewal is centralized in Putrajaya)
3. The conditions and requirements keep on changing and I am not sure if I want to invest so much in this country. What if I cannot renew my long term visa? (MM2H practices "grandfather clause")
4. I don't want to stay most of my time in the country and I may want to travel around. (MM2H has no "minimum to stay" and you are allowed to enter/leave Malaysia as many times as you like)
5. I am not ready to buy or rent any properties yet. Moreoever, it is a big investment. (MM2H does not force anyone to buy or rent any properties).
6. I don't want to report to anyone on where I stay or where I plan to go. (MM2H does not require you to report to the authorities or have a valid address in Malaysia. The authorities does not ask anything from you. You are free to do anything here in Malaysia as long as it does not go against the law or MM2H visa requirements)
In Malaysia, English is widely spoken and understood; the rule of law is rather strict; MM2H holders are treated more like locals than foreigners; inheritance law is observed and there are no inheritance taxes; people here are friendly and it is from their heart and not a hypocrisy; properties are purchased under ones' name and not under a company (and through a complicated proxy process); violence is not tolerated; racial and religion tolerance is the norm and widely accepted as it brings prosperity and peace and lastly, Malaysia has great infrasturctures that are comparable to developed countries but with a lower cost of living.