A: If you have a Malaysian life partner, you do not qualify for a MM2H visa and must apply for a “partner visa”. Luckily, these guidelines have changed, and you can now apply for a divorce opportunity, you have a Malaysian spouse / husband.
A: You do not need to move to Malaysia, and even every year to invest in a basic energy. The visa allows you to go back and forth, but you think fit. You will miss the tax-free option automatically because you have no significant impact on the visa’s specific time.
A: Unfortunately, having a MM2H visa does not give permanent residence status, and will not in any case be changed to public relations status. MM2H visa only 10 years of visa, making the candidate to adapt to the same number of global Malaysia, without restrictions.
A: If you want to buy a car free of taxes in Malaysia then it has to be a new car. If you wish to import your own car from overseas then you must have owned it for at least 6 months before you applied for the visa.
A: No. The MM2H participant is only eligible to import one car. A wife and husband that have applied for the program together may not purchase one tax free car each. Furthermore, if in the future, an applicant wishes to replace their car with a new one, they must pay tax on their second car.
A: After a period of one year, the participant may withdraw part of his/her fixed deposit for approved expenses relating to house purchase, education for children in Malaysia and medical purposes OR when she/he decided to terminate her stay in Malaysia by first informing the Ministry of Tourism of his/her intentions. Those below 50 must maintain a minimum RM 150,000 at all times. Those 50 and above must maintain a minimum of RM 100,000.
A: If your country has a double tax agreement with Malaysia (such as the UK and Germany), then you can register with the tax authorities in Malaysia, even though you have no tax liability in this country, and show this to your home country’s tax authorities, who may authorise your pension to be paid tax free.
A: All income earned form Malaysia sources will be liable to taxation according to the tax laws of the country. 5% capital gains tax applies to money earned on the sale of property. There is no inheritance tax in Malaysia.
A: There is no tax on the interest from the Fixed Deposits which are placed for under RM 100,000. For this reason the banks will usually split your Fixed Deposit into placements which are individually less than that amount.
A: Once you have obtained the MM2H approval and you have a bank account in your home country, then you can liaise with your bank officer and tell them that you wish to open an account in Malaysia and they will either help you get a bank manager from Malaysia to help you.
If you do not have a address in Malaysia, you may use the address of your MM2H agent (if you are using one) or the address of a friend in Malaysia.
A: Most clients will open their FD account once they arrive in Malaysia. Setting up the FD account is simple but transferring the money from your home country to the bank account here can take several days. Due to immigration law, you are only allowed to bring a certain amount of cash with you so make arrangements for this.
If you have any questions about MM2H or would like us to be your agent, please contact us through our free help desk.