Sponsor/Security (Personal) Bond
All applicants require a Malaysian sponsor to support their application. In addition they will be required to place a Personal Bond of up to RM2000 before the visa will be issued. If the applicant uses an agent then the agent will become the sponsor and the agent is also required to place the Personal Bond for the applicant.
Insurance Coverage and Medical Report for MM2H
Applicants and their dependants must possess a medical insurance coverage from any insurance company that is valid in Malaysia. This may be waived for older applicants who are denied coverage because of their age. All applicants and their dependants are required to have a medical examination from any private hospital or registered clinic in Malaysia. Both these conditions are met after the letter of “conditional approval” is issued.
Applicants are allowed to bring along their dependants (children below 21 years of age, step children, disabled children, and parents) under their MM2H visa. Older dependent children will have to get a separate visa. Dependants attending school in Malaysia are also required to apply for a Student Pass which allows them to continue their education in schools or Institutions of Higher Learning recognised by the government.
Each participant is allowed to purchase an unlimited number of residences above the minimal applicable price set for foreigners buying property in the State where they make the purchase. In most cases the minimum price is RM1,000,000 although some States, like Penang, have lower minimums for Mm2H visa holders. All purchases must be approved by the State authorities. Certain types of property cannot be purchased by foreigners e.g. those on ‘Malay Reserve’ land.
Successful applicants are subject to Malaysian taxes on income sourced from Malaysia but income from overseas is not taxable. Even when foreign income (for example, a pension) is taxed at source by the overseas country they will stop this, once evidence is shown that the person is resident in Malaysia.
Approvals are given subject to security vetting clearance conducted by the Royal Malaysian Police. Applicants will also have to show a police clearance certificate (letter of Good Conduct) from their home country to show they do not have a criminal record.
Successful applicants are not permitted to participate in activities that can be considered as sensitive to the local people like political or missionary activities.