Since its establishment in the early 1960s, Malaysia has been a virtual continuous success story, both as a friendly nation that is a cultural melting pot, and as an economic powerhouse that consistently punches far above its weight class. Because of this, many ambitious foreign business people desire to obtain Malaysian citizenship and its powerful, globally respected passport, but is this a possibility?
If an intrepid globe-trotter who was pressed for time wished to sample all that the mighty continent of Asia had to offer, but in just one stop – Malaysia would surely be the only available option. Malaysia truly is a microcosm of that vast continent’s contrasts in its colors, moods, music, food, flavors, sights and sounds, peoples, beliefs and cultures not to mention its landscapes and coastlines. Incredibly, in Malaysia not only do such a wide mixture of people live together in peace and harmony, they also all work toward a common goal – economic success for their country and themselves.
Supporters of Brexit in the UK often site Malaysia – and its tiny and even more successful neighbor Singapore – as shining examples of nations who have gone it alone and achieved huge and consistent economic success. Malaya as it was then known famously broke free from the UK in 1957, forming Malaysia in 1963 along with North Borneo, Sarawak and Singapore. Even though Singapore would itself depart in 1965, Malaysia began establishing itself as an international business hub, and by the mid-1980s was thriving. Malaysia’s GDP remains among the most consistent in the world, averaging 6.5 per annum for the past 50 years.
The Southeast Asian country of Malaysia is a dual-region located in the South China Sea, made up of “Peninsular Malaysia” and “East Malaysia”. Peninsular Malaysia is literally a long peninsular of land that borders Thailand and has maritime boundaries with Singapore, Vietnam, and Indonesia. East Malaysia – also known as Malaysian Borneo – borders Brunei and Indonesia, and has sea boundaries with the Philippines and Vietnam.
Malaysia is known for its beautiful beaches, deep, dense rainforests, exotic plant and wildlife and its multi-ethnic, multi-cultural society that has at its heart a mix of Malay, Chinese, Indian and European influences. Malaysia has a land mass of 330,803 km and a population of 31.4 million. Its capital city is Kuala Lumpur which has a population of 2.25 million people. Malaysia’s primary religions are Islam, Buddhism and Christianity, and despite its multiethnic society, English is regarded as the country’s second language and the majority of the population speak it, particularly in its business sectors.
In the 18th century, Malaysia became part of the British Empire and for almost 200 years was a UK territory. Malaysia – or Malaya as it was then called – was granted independence from Great Britain in 1957, joining with North Borneo, Sarawak and Singapore to form Malaysia in 1963, although Singapore chose to go its own way just two years later.
Malaysia’s early years of independence were often tumultuous and included a conflict with neighboring Indonesia. However, a mixture of a strong, stable government and a well-educated and ambitious workforce led to the country gaining a reputation as a major hub for Asian business. By the 1980s Malaysia had established itself on the international stage as an economic powerhouse, and it remains one of the most important, influential and affluent Asian nations to this day.
Modern-day Malaysia’s economic wealth is generated largely by its expertise in the services industry, including the fields of finance and banking, as well as tourism – and increasingly the phenomena of medical tourism. Malaysia’s regular industry includes construction, electronics, oil and gas exploration and production, agriculture and fishing. Malaysia’s main commercial partners are Singapore, China, Japan and the USA.
Living standards in Malaysia are among the very highest in Asia and compare favorably to those of Europe and North America, as do the country’s education and healthcare systems. Only 3% of Malaysians are unemployed, and less than 1% of the population live below the poverty line, figures that surpass anything in the West and indeed most of the world.
Citizenship By Investment
Citizenship by Investment (CBI) allows an investor to receive the citizenship and passport of a country – often in a matter of months – in return for a financial investment into said country , normally by virtue of a real estate purchase or a charitable donation. Only eight nations in the world currently offer legitimate CBI programs; they are Austria, Cyprus and Malta from the European Union, and Antigua and Barbuda, Dominica, Grenada, Saint Lucia and St. Kitts and Nevis from the Caribbean.
Many other nations offer a Residency by Investment, Investor Visa, or Golden Visa program, granting an investor first temporary then permanent residency into a country – often for a period of five years – in return for a usually refundable financial investment. Malaysia itself has such a program, entitled the Malaysia My Second Home (MM2H) Program.
Malaysia My Second Home (MM2H) Program
Malaysia’s My Second Home program (MM2H) was developed by the Government of Malaysia as an international residency scheme. It is designed to grant foreign investors the opportunity to obtain a long-term Permanent Residence Status visa by virtue of an investment into Malaysia. Permanent Residence Status gives an investor a ten year visa that is easily renewable at the end of each ten-year period, and allows an individual the freedom to come and go as they please.
After an extended period of residency, Malaysian citizenship can be requested. Unfortunately Malaysia does not recognize dual citizenship, so an applicant would need to be prepared to forgo their original citizenship in order for Malaysian citizenship and a Malaysian passport to be granted.
All applicants for the Malaysia My Second Home Program are required to undergo a background check, pass a medical test, and purchase health insurance in Malaysia.
Malaysia My Second Home (MM2H) Program Requirements
Foreign investors from any nation recognized by Malaysia are welcome to apply for the MM2H program. Applicants can include their spouse and children (below the age of 21) as part of their application at no additional cost.
The requirements of the MM2H program are:
- All Applicants Aged Under 50 will need to open a fixed deposit account in Malaysia of RM300,000 (US$ 67,226) and maintain a minimum balance of RM150,000 (US$ 33,613) from the second year onward, and throughout their stay in the country thereafter
- All Applicants of 50 or Over must open a fixed deposit account of a minimum of RM150,000 (US$ 33,613), or provide authorized proof of a RM10,000 (US$ 2,240) monthly pension from an offshore account. From the second year and thereafter the applicant must maintain a minimum balance of RM100,000 (US$ 22,408) throughout their stay in Malaysia
- An Approved Participant who owns property in Malaysia that was purchased for a minimum RM1 million (US$ 224,089) may state their desire to apply for the MM2H program in a letter of application
- All Applicants and their families must submit a medical report from a Malaysia-based hospital or clinic, and must have valid insurance coverage
Benefits Of The Malaysia My Second Home (MM2H) Program
Not surprisingly, successful applicants for this program speak very highly of its benefits which include:
- Freedom of movement – There is no minimum stay requirement with the MM2H Program, and investors and their families are free to enter and leave Malaysia at anytime
- Parents’ Special Visa – An investor’s parents aged over 60-year old are able to live in Malaysia by virtue of a special 6-month social-visit renewable visa
- No Tax – An investor’s foreign income or pension is not subject to Malaysian tax
- House Purchases – An investor is free to legally purchase and own multiple properties in Malaysia
- Business Establishment – An investor is free to legally establish a business or businesses in Malaysia
- Education – An investor’s children can receive education up to the age of 18 under the MM2H Study Permit, which extends to both public and private schools
- Healthcare –Malaysia has excellent healthcare service, and a substantial part of an applicant’s medical needs will be covered under the MM2H program’s compulsory medical insurance
- Malaysian Citizenship –If an investor’s ultimate goal is obtaining Malaysian citizenship, a period of residency via the MM2H program establishes them as a potential citizenship applicant
- Malaysian Passport – The Malaysian passport is one of the most powerful in Asia, and grants its holder visa-free access to 164 countries, including Western Europe, much of the Middle East and Asia, Latin America and the Caribbean, much of Africa and Southeast Asia
At 2ndPassports.com we pride ourselves on being the market leaders in the second citizenship/residency industry, and our goal is simply to find the perfect Citizenship By Investment or Investor Visa program for those individuals who are – for whatever reason – looking to gain the citizenship and passport – or the residency – of a country that will grant them a better, safer life, and greater freedom of movement.
Much of our clientele is made up of wealthy, high net worth individuals from countries in Asia, Africa and the Middle East, and who find themselves hamstrung by their nationality and their passport. The acquisition of second citizenship and resulting ownership of a far more powerful passport is literally life-changing, both in terms of finance and of general freedom.
For more information on Malaysia’s My Second Home (MM2H) Program and to learn if it is the best investor visa program for your particular needs, contact 2ndPassports.com today. Feel free to contact us via email, WhatsApp or Telegram. If you prefer you can chat to one of our expert representatives directly – you can call us using our encrypted phone and Skype lines. All of our contact details are listed at the top of the 2ndPassports.com homepage.
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