Foreigners holding Malaysia My Second Home (MM2H) residency visa do not need to comply with the new RM1 Million minimum house price set by the Malaysian Government. This is according to the new property guidelines issued by the Federal Government’s Economic Planning Unit (EPU)on 1 March 2014.Read Guidelines here
The MM2H visa which has so far been issued to around 20,000 overseas nationals since its introduction in 2002 allows holders and their immediate family the right to reside long term in Malaysia. Other than being exempted from the EPU Property Floor Price Ruling, MM2H also allows visa holders the right to work in their own businesses without an employment pass as well as the privilege to buy a tax free car. Presently, Chinese and Japanese nationals make up over half the total number of MM2H residents but more applications are also coming from Singapore, the United Kingdom and other countries in the European Union.
Kerk Boon Leng
4 March 2014