Malaysia My Second Home (MM2H) applicants who have purchased properties worth at least RM 1 million qualify to place a lower fixed deposit amount upon approval.
However, MM2H applicants have to observe the following conditions:
■ The purchased property may be a fully completed unit or one under construction,
■ For the incomplete property, applicants must show proof of having paid the developers or made mortgage loan payments which are equivalent to at least the required fixed deposit amount for his age group. This amount does not include legal fees, transfer fees, commissions and any other related payments,
■ The property purchased should be registered under the applicant/spouse(s)/dependant(s)’ names,
■ Documents required for financial exemption are:
◦ Certified copy of Sale and Purchase Agreement
◦ Certified copy of Transfer of Ownership / Transfer of Deeds
◦ Proof of mortgage loan payment (if applicable)
◦ Proof of Quit Rent/Assessment Rate Bill payment
◦ Certified copy of Title Deed/Land Title (if applicable)
The supporting documents must be submitted together with the new application to MM2H Centre.
More: www.propertymalaysia.my
