Malaysia My Second Home

Views:
 
     
 

Presentation Description

A Presentation on the Benefits & Criteria to qualify for long term visa to reside in Malaysia

Comments

Presentation Transcript

PowerPoint Presentation:

MALAYSIA MY SECOND HOME (MM2H) 1

WHAT IS MM2H ?:

A Programme Promoted By The Malaysian Government. 1996 Silver Hair Programme For Japanese & Western Europeans citizen 2002 Malaysia My Second Home Programme All countries except Israel, Republic of Serbia and Republic of Montenegro Inviting Foreigners To Stay In Malaysia As Long As They Wish. WHAT IS MM2H ? 2

WHO MAY PARTICIPATE?:

People Of Any Nationality or Citizenship Recognised by Malaysia, Irrespective Of Race Religion Gender Age WHO MAY PARTICIPATE? 3

CAN PARTICIPANTS BRING THEIR DEPENDENTS ?:

Participants May Bring Along The Following Dependents: Spouse Unmarried Children (Below 21) Parents Above The Age Of 60 CAN PARTICIPANTS BRING THEIR DEPENDENTS ? 4

WHY MALAYSIA ?:

Malaysia is a: Multi Cultural And Multi Racial A Welcoming, Friendly And Warm Climate Lifestyles To Suit The Individual Places Of Worship For All Religions Reasonable Cost Of Living Availability Of Services Within Reasonable Time Friendly People WHY MALAYSIA ? 5

PowerPoint Presentation:

Friendly Investment Climate Availability Of Ample Holiday And Recreation Facilities both natural such as sandy beaches, sunshine, islands, etc and man made such as theme parks, jungle trails, water sports and golf courses. 6

CRITERIA:

CRITERIA 7

1. HOW ARE APPLICANTS CLASIFIED?:

Broadly applicants are classified based on their age i.e. * Above 50 years OR * Below 50 years 1. HOW ARE APPLICANTS CLASIFIED? 8

2. Are there any financial criteria to be fulfilled? :

Applicants must show financial criteria as follows: Above 50 years Financial proof in liquid assets ( e.g : stocks,bonds,etc ) worth min of RM350,000. Show monthly offshore income of equivalent to RM10,000 every month in bank statement 2. Are there any financial criteria to be fulfilled? 9

PowerPoint Presentation:

Below 50 Years Financial proof in liquid assets (e.g: stocks,bonds,etc) worth min of RM500,000. Show monthly offshore income of equivalent to RM10,000 every month in bank statement 10

3. MUST THE APPLICANT TRANSFER THE FUNDS TO MALAYSIA?:

The applicant is required to place in fixed deposit with Malaysian Banks with the following amounts: Above 50 years Fixed Deposit of RM150,000 Below 50 years Fixed Deposit of RM300,000 3. MUST THE APPLICANT TRANSFER THE FUNDS TO MALAYSIA? 11

4. CAN THE FIXED DEPOSITS BE WITHDRAWN?:

Part of the fixed deposit amounts can be withdrawn for one of the following reasons: to purchase a house To fund children’s education in Malaysia To pay for medical expenses The amounts that can be withdrawn are as follows: Above 50 years From 2 nd year can withdraw up to RM50,000 Below 50 years From 2 nd year can withdraw up to RM150,000 4. CAN THE FIXED DEPOSITS BE WITHDRAWN? 12

5. CAN THE PLACEMENT OF FIXED DEPOSIT BE WAIVED?:

No, but it can be reduced to either :- RM100,000 (above 50 years) or RM150,000 (below 50 years) provided the participant purchases a property at more than RM1 million and has paid at least RM 1 million to the developer. 5. CAN THE PLACEMENT OF FIXED DEPOSIT BE WAIVED? 13

6. ARE THERE ANY LETTER REQUIRED FROM THE POLICE DEPARMENT ?:

Applicant must have Letter of Good Conduct (LOGC) from the Police Department with the following criteria: Letter issued from applicant country of origin. Applicable for Principal Only. Must be printed on official letterhead. In english . If not, must be translate and certified by any Court of Justice, Malaysia Embassy Abroad or Foreign Embassies in Malaysia. 6. ARE THERE ANY LETTER REQUIRED FROM THE POLICE DEPARMENT ? 14

6. WHAT HAPPENS AFTER 10 YEARS ?:

Will have to apply for extension and would generally be granted provided there is no criminal record. 6. WHAT HAPPENS AFTER 10 YEARS ? 15

PowerPoint Presentation:

PROCESS INVOLVED 16

WHAT ARE THE PROCESS INVOLVED IN THIS APPLICATION?:

Step 1 – Completed Documents Receive complete documents from applicant and submit to the MM2H Centre. MM2H Centre will takes processing period of 45-60 working days. Step 2 – Successful Applicants Once applicant received conditional letter from MM2H Centre, the following need to be done: Open Fixed Deposit in Malaysia Carry out Medical Check-up in Malaysia Have a Medical Insurance Covers Stay in Malaysia and applicable to all applicant (exclude applicant 60 years and above and due to medical condition). WHAT ARE THE PROCESS INVOLVED IN THIS APPLICATION? 17

PowerPoint Presentation:

BENEFITS 18

PowerPoint Presentation:

CAR Successful applicant may bring in a car from his/her country of origin or domicile. or Buy a locally made or assembled car ONLY Free of Import duty, exercise duty and sales tax. 19

PowerPoint Presentation:

2. Bring in Domestic Helper Successful applicants are allowed to apply for one maid from their country of origin or any other country but would be subjected to same regulations as Immigration Department of Malaysian. 3. Business and Investment Successful applicants are allowed to be actively involved in business and are free to invest in properties, shares and stocks, subject to the relevant legislations. 20

PowerPoint Presentation:

4. House/Property Purchase May purchase any number of residential property in Malaysia Minimum rates of RM500,000 per unit Profits made on the sale of property is subjected to current Real Property Gains Tax rate set by the Government of Malaysia. 1st year – 2nd year : 15% 3rd year – 5th year : 10 % 5 years and above : NA 5. Children Education Children's may continue their schooling in Malaysia, required to apply for a Student Pass, and be insured throughout stay in this programme . 21

PowerPoint Presentation:

6. Part-time Work Participants are allowed to work not exceeding 20 hours per week or be self employed. Only applicable for participant aged 50 years old and above . 7. Bring In Pets Applicants may bring their beloved pets by following the Malaysian import regulations and comply with the conditions in the regulations. 22

PowerPoint Presentation:

Tax friendly tax system (only monies earned in Malaysia are taxable) Monies earned overseas and pension remitted into Malaysia are not taxable. Tax rate for non - residents is 26% per annum. Tax rate for residents ranges from 0% to 26% depending on level of income. 23

RES MAL (MM2H) SDN.BHD:

RES MAL (MM2H) SDN.BHD 24

PowerPoint Presentation:

25

PowerPoint Presentation:

We are a firm of Chartered Accountants Established in the 1950s . Offices in JB, KL, Penang, Labuan and associate office in Alor Setar We provide a one stop centre for all corporate needs. Our services include: incorporation of companies corporate secretarial nominee accounting tax auditing consulting 26

PowerPoint Presentation:

As consultants: Hand holding foreign investors from incorporation of company to the commencement of operation. We are also licensed by the Ministry of Tourism, Malaysia to promote the MM2H Programme. 27

PowerPoint Presentation:

In 2007, when the Malaysian Government moved the licensing function to the Ministry of Tourism we incorporated Res Mal (MM2H) Sdn. Bhd. to comply with the requirements. 28

WHY RES MAL ?:

1. ADVISORY Participants generally would also like to know about business and investment climate in Malaysia. Being accountants we are in good position to render proper advice relating to investment, business, tax incentives, tax planning and effective tax structure. WHY RES MAL ? 29

PowerPoint Presentation:

2. OFFICE Sizeable office with facilities for clients to walk in during office hours and to meet us after office hours by appointment. Address: Suite 1705,Level 17 Menara Landmark Jalan Ngee Heng 80000 Johor Bahru 30

PowerPoint Presentation:

ASSOCIATES We have a friendly and qualified team of individuals who are committed to rendering the best services. 4. MULTI ETHNIC AND MULTI LINGUAL Our friendly team of associates come from different ethnicities and are multi lingual – Mandarin, English, Malay, Tamil. 31

PowerPoint Presentation:

5. PARTICIPATION IN : International property fairs. We have participated in Cityscape Dubai, an international property fair held in Dubai. We were overwhelmed with queries not only about MM2H but also investment, business, employment pass and government policies which we were able to effectively handle. 32

OUR SERVICES:

Application for MM2H approval for qualified foreigners. Arrangement of bankers to open account. Arrangement of medical doctor. Arrangement of health medical insurance. Introducing housing agent. Application to withdraw part of the fixed deposit after second year. Application to terminate MM2H programme and to withdraw entire fixed deposit. OUR SERVICES 33

Res Mal (MM2H) Sdn Bhd:

We thank you for this opportunity and look forward to working with you. Res Mal (MM2H) Sdn Bhd 34

authorStream Live Help