Malaysia Investment Immigration ------ Malaysia second hometown planning

I. Malaysia---- Second home program
“ Malaysia, my second home” planning is a project which was supported by Malaysian government . It was promoted by the government on 28th, Feb,2004, popular with its concise application, fast checking cycle, preferential treatment for applicants. The applicants approved can get a five-years residence permit from Malaysian government. The invest settlers can get a free way to Malaysia with this certificate within the validity, meanwhile it’s a flexible settlement program for the living period in Malaysia.

II. Application conditions:
1. Capital requirements:
The applicator need to find a local bank in Malaysia ,or have a fixed deposit in a foreign branch bank in Malaysia (deposit amount as the following form reference ).This deposit should last for the time that the applicator exit the program.(10 years, can be extended.)

2. Requirements for the applicants:
The applicant whose age is below 50 years old or above 50 years old has to apply for a personal fixed deposit of 300,000 Ringgit, as well as the proof of monthly income will be no less than 7,000 Ringgit, meanwhile with the fixed deposit 150,000 Ringgit, or with the proof that the present income should be no less than 7,000 Ringgit.
3. Family application:
(Applicator with spouse or with dependency) The fixed deposit should be 300,000 Ringgit , also with the proof that the present monthly income should be no less than 10,000 Ringgit as well as the fixed deposit 150,000 Ringgit, or with the proof that the present monthly income should be no less than 10,000 Ringgit, as well the fixed deposit has to be put in the financial institutions which are authorized by the Malaysia.
The legal tender of Malaysia is Ringgit. 1USD is equivalent to 3.8 Ringgit .

III. Medical insurance:
The applicator has to purchase the medical insurance from any international insurance company, with the protection scope of Malaysia.
IV. Transaction cycle:
1. Hand in the application form and the document;
2. Take the preliminary approval letter from the Malaysian government;
3. Purchase the medical insurance;
4. Pay up the regular deposit;
5. Come to Malaysia to make the visa(residence permit and multile-entry visa)

V. Special treatment:
1. You can purchase two housings in Malaysia(wholly owned by you or leasing it out, both are available );
2. You can purchase a car without any tax or you can bring a car to Malaysia (it can save you the immigration tax as much as 300%);
3. You can get regular deposit rates(present annual rate is 3.5%-4%);
4. No tax for fixed deposit(at least one year);
5. You can take one helper to Malaysia
6. No deadline for residence permit in Malaysia(normally only one month for tourist visa )