The Ministry of Interior of Malaysia announced on August 11 that will restart the "Second Home Project" starting in October this year.
However, for this second home plan, the Ministry of Internal Affairs of Malaysia has given 10 new conditions which are more stringent than before.
The Malaysian government launched the "Second Home Project" in 2002 to provide foreigners who meet certain conditions with free entry and exit visas and related preferential residence conditions for up to 10 years in order to promote local economic development.
In August 2020, affected by the epidemic, Malaysia suspended applications for the "Second Home Project".
According to the Ministry of Interior of Malaysia, as of 2019, a total of 57,000 people have been approved, bringing a total of 11.89 billion ringgits to Malaysia.
Malaysia My Second Home Program
Malaysia Second Home Plan
October restart, 10 conditions
Malaysia’s Secretary-General of the Ministry of Interior Datuk Wang Ahmad Dharam
The Secretary General of the Ministry of Interior of Malaysia stated:
After weighing safety and economy, the restarted "Second Home Project" will set more stringent conditions, To ensure that the attracted applicants are those who really intend to live in Malaysia and can contribute to the recovery of the economy.
In order to strike a balance between national security and the economy, after considering the suggestions of various departments and agencies, Malaysia formulated 10 new conditions: span>
1?Must be in Malaysia or settle in Malaysia for at least 90 days in one year.
2?The validity period is changed to 5 years, and eligible persons can apply for an extension of 5 years.
3?Applicants or their family members applying for certificate renewal, change of main applicant, change of applicant, nationality, etc., must undergo and pass the security review.
4?All applicants must submit no criminal record.
5?Applicants are divided into 2 categories according to age: 35-49 years old, 50 years old and above.
6?The monthly income of the main applicant has been increased to 40,000 ringgit (about 64,000 yuan).
7?Malaysia Bank’s fixed deposit amount has been increased to 1 million ringgit. Among them, 50% can be used for buying a house, buying a car, children's education or medical purposes.
8?The applicant must declare at least RM1.5 million (approximately RMB 2.4 million) of current assets when submitting the application.
9?Visa fee increase: RM500 per year, and a processing fee of RM5,000 for the main applicant and RM2,500 for each dependent.
10 The Ministry of the Interior will cooperate with the Ministry of Tourism, Arts and Culture (MOTAC) and travel agencies to promote the Malaysia Second Home Project.
One picture to understand the comparison of the new and old application conditions
Xingyunhai International Drawing
(The exchange rate in the figure is for reference only, please refer to the real-time exchange rate)
The total number of main applicants and their family members of the Malaysia Second Home Program that will be restarted is not more than 1% of the number of citizens.
At the same time, the authorities will also improve the application procedures of the Second Home Project by setting up an online system for application, processing and applicant information database.
Currently, the Malaysian Immigration Department has suspended the application progress of about 1,000 people due to the impact of the epidemic. Among them are from China, Japan, the United Kingdom, South Korea, Singapore, Applicants from Bangladesh and other countries, will begin to review these applications from October .
Malaysia My Second Home Program
Residents holding a Second Home Program visa< /span>
Already approved to enter Malaysia
The Malaysian National Security Council also stated:
Local citizens who have completed the vaccination and non-citizens who own residences in Malaysia(including permanent residents and residents of Malaysia Second Home Program visa)< /strong>Can enter.
but you need to show:
Negative report of "Reverse Transcription Polymerization Chain Reaction" (RT-PCR) performed 3 days before departure,
Proof of effective vaccination,
They will be isolated at home after arrival.
Malaysia’s second home plan is on the verge of restarting. Are you ready to apply?
The development of immigration programs in various countries is becoming more and more strict, or the threshold may be raised or closed directly. Therefore, we recommend that you identify planning as early as possible . If you have any questions, please contact Xingyunhai International!
Source: Comprehensive news, some pictures are from the Internet, the copyright is owned by the original author
Editor: KIKI
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