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BLUE seas, warm
tropical climate, highland retreats, safety and comfort
of family awaits an investor keen on buying a property
under the Second Home Programme in Malaysia. This is
the place of the future where one can retire and live
well with all the comforts of life at par with the international
standards and yet at a cost which is indeed affordable. |
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To promote Malaysia
as the best destination for vacation, shopping, retirement
and investment, the Government has lauched Malaysia
my Second Home Programme under which the investor and
the immediate family, spouse and member can be benefitted
from the programme.
The key benefits of the programme are: a ten year multiple
entry visa (renewable every ten years) which will eventually
lead to a lifetime easy access to the country. The eligible
visa holder qualifying under the programme can import
a car or purchase a new car, tax free and enjoy other
incentives. There is an opportunity to own a business,
which is like owning a second passport or a second citizenship
in Malaysia. The best thing under this programme is
that all these benefits are available while the investor
retains his original citizenship and its privileges.
Now is a rather great opportune time to analyse the
options and invest under the programme in its nascent
stage. The Government has set a quota for the year and
it is anticipated a lot of people will grab this opportunity.
The property in Malaysia is relatively cheap, and this
could be an ideal time to own a beach front bungalow
or a condominium located at the city of Kuala Lumpur
surrounded by mountains.
Eligibility
On receiving the conditional approval successful applicants
under 50 years have to open a fixed deposit of Malaysia
Ringet -RM 300,000. On completion of one year from the
date of deposit the participant of the programme can
withdraw RM240,000 towards housing purchase, education
for children or medical expenses in Malaysia.
However it is mandatory to maintain a balance of 60,000RM
from second year onwards and also throughout the stay
in Malaysia under this programme.
For those who have attained the age of 50 or are above,
the fixed deposit norms are limited to RM150,000 or
alternatively have to also show a profit of offshore
monthly income which is RM 10,000 from approved/recognised
institution in the country of origin such as pension
scheme. Such investors after a period of one year can
withdraw up to RM90,000 for approved expenses related
to housing purchase, education for children, or medical
expenses in Malaysia.
Like as in age group of below 50 participants, in this
age group too, a minimum balance of RM60,000 needs to
be maintained all through the programme. |
