Malaysia is one of the best retirement destinations in Asia and the world. In addition to an affordable cost of living, the country also has great infrastructure and a good healthcare system. Also, a majority of Malaysians speak English well and respect other cultures, making it easy for retirees to settle here.
If you are planning to retire in Malaysia, the very first thing you need to understand is the country’s visa system for retirees. Unlike many countries in the world, Malaysia doesn’t have a specific retirement visa.
Instead, it offers the Malaysia My Second Home visa, or MM2H for short, which allows retirees to stay in Malaysia as long as they can fulfill the visa’s requirements.
In this article, I’m going to give you a full breakdown of all retirement visa options available in Malaysia, including all types of MM2H visas and alternative options. I’ll cover their requirements, validity, costs, perks, and how to apply for the visa step-by-step.
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Contents
- Key Takeaways
- MM2H Retirement Visa Overview
- Three Tiers of MM2H Visa
- Special MM2H Visas
- MM2H Visa Comparison Table
- Application Process
- Renewing the MM2H Visa
- MM2H Visa Frequently Asked Questions (FAQ)
- Can I work or run a business in Malaysia under MM2H?
- Do I need to purchase property to qualify for MM2H?
- Can I include my family members in my MM2H application?
- Do I need to have health insurance?
- Which bank should I open an account with for the MM2H program?
- Do I need to pay pension tax in Malaysia?
- How long do I need to wait to get visa approval?
- Can I apply for MM2H or S-MM2H on my own?
- Should I retire in Malaysia using a tourist visa?
- Can I get permanent residency or citizenship through the MM2H or S-MM2H program?
- Other Options
Key Takeaways
- While there’s no specific retirement visa in Malaysia, retirees can stay long-term using the Malaysia My Second Home (MM2H) visa.
- MM2H now comes in several tiers, Silver, Gold, Platinum, SEZ/SFZ, and Sarawak MM2H, each with different financial and property requirements.
The program underwent a major reform in 2024, resulting in much higher financial requirements and property purchases in most types. - S-MM2H and SEZ options have lower financial requirements but come with specific conditions, such as property location or residency in Sarawak.
- You must apply through a licensed agent, and costs can range from RM20,000 to RM60,000.
- Visa approval takes 3–6 months, and you must travel to Malaysia to finalize the process.
- Retirees generally can’t work in Malaysia, though remote work abroad is usually allowed.
- There is no tax on foreign income, including pensions.
If MM2H isn’t a fit, consider other countries like Thailand or the Philippines with more relaxed retirement visa options.
MM2H Retirement Visa Overview
Malaysia My Second Home (MM2H) is the main visa option for retirees in Malaysia. The program underwent significant changes in 2021, introducing much higher financial requirements.
MM2H is now divided into several types, each with its own set of requirements, validity periods, and benefits, including:
- MM2H Silver Tier, Gold Tier, and Platinum Tier: The three standard types of the MM2H program
- MM2H Special Economic/Financial Zones (SEZ/SFZ): A special MM2H program with lower requirements than the standard option, but you need to buy a property in designated zones only
- Sarawak MM2H (S-MM2H): Another special type of MM2H with more relaxed requirements. The program is managed separately by the Sarawak state government
Benefits of MM2H Visa
Here’s a quick list of benefits you get from the MM2H visa:
- You can stay in Malaysia for 5 to 20 years depending on the type
- The visa is renewable as long as the original conditions are met
- It’s a multi-entry visa, so you can enter and leave Malaysia as often as you like
- You can bring your entire family, including parents, parents-in-law, legal spouse (excluding same-sex marriage), children, and adopted children. Your children must be younger than 35 years old
- No tax on foreign income, even if it’s remitted to Malaysia
- The visa is transferable to your next of kin in the event of death
- Multiple-entry status allows easy travel in and out of the country
Good to Know
Before I guide you through all types of MM2H visas, there are three important things you should know in advance:
- The MM2H visa program involves high financial requirements and property purchases, so it’s not an option for everyone.
- You can’t apply for the visa yourself. You need to apply through visa agents.
- Financial requirements for buying property vary depending on the state you apply to and are subject to change over time, so talk with your visa agent first before starting your application.
Malaysia My Second Home (MM2H) Requirements
I’ll separate this section into main requirements and other requirements.
Main Requirements
Fixed deposit and property purchases are the two main requirements of the MM2H program. You need to make sure you can meet these requirements before looking into the other conditions.
- Fixed deposit: You need to place a fixed deposit (FD) in any bank in Malaysia. The amount ranges from US$32,000 to more than US$1,000,000. You can withdraw up to 50% of the amount for property purchase, education expenses, medical treatment, and domestic travel within Malaysia.
- Property purchase: You need to purchase a property in Malaysia and hold it for at least 10 years. The minimum value depends on your MM2H program type and the state where you are buying the property.
Other Requirements
Other requirements are what’s normally expected when applying for a visa in most countries, including:
- Age: You need to be at least 21 years old (for MM2H SEZ/SFZ) or 25 years old to apply for the standard program
- Health insurance: If you are YOUNGER than 60, you need to get a local Malaysian health insurance plan
- Medical check-up: You need to pass a medical check-up from a healthcare facility in Malaysia.
- No criminal activity: A police certificate is required when applying for the visa
Three Tiers of MM2H Visa
There are three main MM2H tiers (Silver, Gold, and Platinum) and one special tier, which is MM2H in Special Economic/Financial Zones (SEZ/SFZ).
Let’s take a look at each option in more detail.
MM2H Silver
This is the most popular tier among retirees in Malaysia since it comes with the least financial requirements and allows you to buy a property anywhere in Malaysia.
- Age Requirement: 25 and above
- Visa Validity: 5 years (renewable)
- Financial Requirements:
- Fixed deposit: US$150,000
- Minimum property purchase: RM600,000
- Stay Requirement: Minimum of 90 days per year if you are younger than 50 years old
- Participation Fee: RM1,000
- Visa Renewal Fee: RM1,500
MM2H Gold
This is one step higher than the Silver tier, with higher financial requirements and longer visa validity. Some retirees choose this option because they plan to buy property in cities like Penang or Kuala Lumpur, where the minimum property purchase is already RM1,000,000.
- Age Requirement: 25 and above
- Visa Validity: 15 years (renewable)
- Financial Requirements:
- Fixed deposit: US$500,000
- Minimum property purchase: RM1,000,000
- Stay Requirement: Minimum of 90 days per year if you are younger than 50 years old
- Participation Fee: RM3,000
- Visa Renewal Fee: RM3,000
MM2H Platinum
This is the highest tier available and allows you to stay in Malaysia for up to 20 years at a time. It’s also the only visa that allows you to invest or run a business in Malaysia, as well as bring your own maids.
- Age Requirement: 25 and above
- Visa Validity: 20 years (renewable)
- Financial Requirements:
- Fixed deposit: US$1,000,000
- Minimum property purchase: RM2,000,000
- Stay Requirement: Minimum of 90 days per year if you are younger than 50 years old
- Participation Fee: RM200,000
- Visa Renewal Fee: RM200,000
Special MM2H Visas
In addition to the three tiers of the MM2H visas mentioned above, there are also special MM2H visas that come with much lower financial requirements. The trade-off is that you need to purchase property in a designated area only as stated by the program.
The application process and general requirements are pretty much the same as the standard MM2H visas.
MM2H in Special Economic/Financial Zones (SEZ/SFZ)
The first special MM2H visa is the MM2H in Special Economic/Financial Zones, or SEZ/SFZ for short.
- Eligibility: Age 21 and above
- Visa Validity: 10 years
- Financial Requirements:
- Fixed deposit: US$65,000 (under 50), US$32,000 (50 and over)
- Minimum property purchase: RM600,000 in Forest City
- Stay Requirement: Minimum of 90 days per year if you are younger than 50 years old
- Participation Fee: RM1,000
- Visa Renewal Fee: RM300
Sarawak MM2H (S-MM2H)
This is one of the best options available so far since you don’t need to buy a property here. In addition to that, the financial requirement is among the lowest.
The trade-off is that you need to be in the state of Sarawak, located in East Malaysia. However, this is actually not a bad deal since Sarawak is a great state to retire in, especially in Kuching, the state capital city.
It’s one of the best places to retire in Malaysia in my opinion and offers a great combination between city life and a laid-back lifestyle. The cost of living and property prices are also lower than in West Malaysia.
- Eligibility: Age 30 and above
- Visa Validity: 5 years (renewable)
- Financial Requirements:
- Fixed deposit: RM500,000 (~US$120,000) put in a local bank in Sarawak
- Proof of Income:
- Pension funds or offshore income: RM10,000/month for single and RM15,000/month for a single + dependant OR
- Saving funds: RM100,000 for a single and RM200,000 for a single + dependant
- Property Purchase: Optional
- Other Requirements: Health insurance, police clearance, medical check-up (from a hospital in Sarawak)
- Stay Requirement: Minimum of 30 days per year in Sarawak
- Processing Fee: RM5,000
Please note that the Sarawak MM2H is processed by the Sarawak state government directly.
You can bring your children here as long as they are younger than 21 years old, and they need to study in Sarawak.
MM2H Visa Comparison Table
Here’s a quick comparison table of the key information for each MM2H program.
| Criteria | MM2H Silver | MM2H Gold | MM2H Platinum | MM2H SEZ/SFZ | Sarawak MM2H |
| Age Requirement | 25 | 25 | 25 | 21 | 30 |
| Visa Validity | 5 years | 15 years | 20 years | 10 years | 10 years |
| Fixed Deposit | US$150,000 | US$500,000 | US$1,000,000 | US$65,000 (<50), US$32,000 (50+) | RM500,000 (~US$120,000) |
| Min Property Purchase | RM600,000 | RM1,000,000 | RM2,000,000 | RM600,000 in Forest City | Optional |
| Stay Requirement | 90 days/year if <50 | 90 days/year if <50 | 90 days/year if <50 | 90 days/year if <50 | 30 days/year in Sarawak |
| Participation Fee | RM1,000 | RM3,000 | RM200,000 | RM1,000 | RM5,000 |
| Visa Renewal Fee | RM1,500 | RM3,000 | RM200,000 | RM300 | Included in processing fee |
Application Process
Here’s how to apply for the MM2H visa. The process for the regular MM2H visa is quite similar to the S-MM2H visa.
In this section, I’ll guide you through the general application process to give you a full understanding. For the detailed steps, you can simply follow the instructions provided by your licensed agent.
Find a Licensed MM2H agent
This is the most important step since the MM2H program must be applied for through an agent. There are two things you should keep in mind:
- You need to find an agent who isn’t pushy about getting you to buy a property.
- An agent should be experienced with the process.
So, my personal tip for finding a good agent is to check Google Reviews or a Facebook group like this one and get recommendations from other expats.
Also, experienced agents tend to publish a detailed guideline about the MM2H visa on their website.
Here’s a list of all licensed MM2H agents from the Malaysian government website. And here’s a list of licensed agents for the S-MM2H program.
A licensed agent’s fee for all MM2H programs ranges from RM20,000 to RM60,000.
Paperwork
After you contact a licensed agent, they may request documents such as your resume to determine whether or not you are eligible for the program. If you are, they will provide you with a full list of documents needed to apply for the program, such as:
- Proof of income
- Proof of employment
- Marriage certificate
- Police certificate
Please note that non-English documents need to be translated into English by official translators. Also, all copies must be notarized by embassies, notary publics, or lawyers. In most cases, your licensed agent will have a list of service providers who can help you with translation and certification.
Fly to Malaysia
After you submit all of the paperwork, you need to wait for the Malaysian government to approve your application, which can take 30 to 90 business days. Once approved, you will receive an approval letter. Fly to Malaysia with it to complete the remaining steps, including:
- Open a bank account in Malaysia
- Buy local health insurance
- Do a health check-up
- Buy a property within 1 year (if required by your program)
Once these are done, you will get a visa stamp in your passport.
If you have any questions, you can simply ask your licensed agent.
Renewing the MM2H Visa
It’s very simple to renew any type of MM2H visa. Before it expires, contact your licensed agent and submit paperwork similar to what was required for the original program.
The key is to do it as early as possible, ideally 6 months before your visa expires.
MM2H Visa Frequently Asked Questions (FAQ)
Here’s a list of frequently asked questions on the Malaysia My Second Home (MM2H) Visa Program.
Can I work or run a business in Malaysia under MM2H?
In general, you can’t work full-time in Malaysia with any type of MM2H visa. However, it’s still possible to be a business advisor or hold shares in a company in Malaysia.
If you work from abroad, such as being a remote worker or running a business based overseas, this is generally acceptable.
If you plan to do any type of work within Malaysia, it’s best to contact your licensed agent and explain your work in detail to get confirmation from them.
MM2H participants are generally not permitted to work in Malaysia. However, Platinum tier holders may engage in business and employment activities with prior approval from the relevant authorities.
Do I need to purchase property to qualify for MM2H?
This depends on the type of your MM2H visa. If it’s S-MM2H, you don’t need to buy a property. For other MM2H options, buying a property is required.
Can I include my family members in my MM2H application?
Yes, you can include your spouse, unmarried children, and even your parents. Please note that each MM2H type has different requirements, including age requirements for family members.
Also, same-sex marriage isn’t recognized in Malaysia.
Do I need to have health insurance?
In general,
- if you are older than 60 years old, you don’t need health insurance.
- If you are younger than 60 years old, you need a local health insurance plan.
However, even if health insurance isn’t always required, it’s still a good idea to have it. You can opt for a plan without outpatient coverage and with a high deductible to keep it affordable while still having protection during critical moments.
Read our health insurance in Malaysia article to find out more.
Which bank should I open an account with for the MM2H program?
An important point to remember is that once you place your fixed deposit with a certain bank, you need to stick with it for the entire duration of your visa. So, it’s best to choose the right bank from the beginning.
Maybank and HSBC are the two most popular banks for expats in Malaysia. They are reputable, familiar with the MM2H program, and have branches across the country.
Do I need to pay pension tax in Malaysia?
No, you don’t need to. In fact, you don’t have to pay tax on any money earned outside of Malaysia, even if you remit all of it to Malaysia.
On the other hand, if it’s income earned from working within Malaysia, you are required to pay income tax. However, before working with a Malaysian company, check with your licensed agent first to make sure you can legally work in the country.
How long do I need to wait to get visa approval?
In general, it takes 3–6 months to get visa approval, so plan your time well.
Can I apply for MM2H or S-MM2H on my own?
Unfortunately, with the new requirements in 2024, you can’t apply on your own anymore and must go through a licensed agent.
Should I retire in Malaysia using a tourist visa?
I don’t recommend retiring in Malaysia with a tourist visa. Malaysia has strict visa requirements, and the tourist visa is intended mainly for travel, not for retirement.
Can I get permanent residency or citizenship through the MM2H or S-MM2H program?
Unfortunately, you can’t. In fact, Malaysia has a strict process for obtaining permanent residency or citizenship. Most people are only eligible after marrying a Malaysian citizen.
Other Options
If the financial requirements of the MM2H or S-MM2H programs are too high, there are a few other options available:
- Spouse visa by marrying a Malaysian citizen
- Work visa by being employed by a Malaysian company
- Tourist visa, which is only valid for 30 to 90 days
As you can see, these visas are not really intended for retirees and are only suitable for certain individuals. So, if you don’t have enough funds or don’t want to buy a property, you may want to consider other countries instead. Two popular alternatives include Thailand and the Philippines.
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