It is not essential for a foreigner buying a Malaysian property to be enrolled into the Malaysia My Second Home Programme (MM2H).
This programme offers a ten year renewable social visit pass and primarily attracts those who wish to retire or intend to have extended stay in the country. The benefits of this programme are also extended to dependents such as spouse, children (under the age of 21), step children, disabled children and parents.
There are some financial requirements to participate in this program. Applicants who are below 50 years of age must place a fixed deposit of RM 300,000 with a local bank. The applicant will be allowed to withdraw up to RM 150,000 for the purchase of house, medical insurance, or children’s education expenses after placing it for one year. The applicant will need to maintain the minimum of RM 150,000 in this bank account from the second year onwards and throughout the stay in Malaysia.