What is ESD Registration:
The Expatriate Services Division (ESD), under the Immigration Department of Malaysia, is like a certificate which will allow the company to give visa for foreign shareholders and directors or staffs.
THE STANDARD PROCEDURE FOR ESD REGISTRATION:
Checklist of company ESD registration procedure:
Paid-up capital requirements:
To do business in Malaysia, foreigner can even register company with RM 1 only, most importantly to register company with big paid up capital is not legal also because the moment clients are registering company, the don’t have any company bank account to show this amount. So, we suggest to clients to register company with minimum paid up and increase slowly by turnover.
i) For 100% foreign shareholder: Paid up capital 500,000
ii) For 100% local company: Paid up capital 250,000
iii) For 51% local, 49% foreign share holding company: 350,000
(All this figure no need to put inside company bank account at a time, just need a statement from company bank account of this amount turnover).
What is MM2H?
Malaysia My Second Home (MM2H) Program is promoted by the Government of Malaysia to allow foreigners who fulfill certain criteria, to stay in Malaysia for as long as possible on a multiple-entry social visit pass.
The Social Visit Pass is initially for a period of ten (10) years and is renewable.
Eligibility:
It is open to citizens of all countries recognized by Malaysia regardless of race, religion, gender or age. Applicants are allowed to bring their spouses and unmarried children below the age of 21 as dependents.
Upon Application – Financial Requirements for MM2H
Applicants are required to show they have sufficient financial resources to live in Malaysia without seeking employment or other assistance from the government, as MM2H holder is not allowed to work in Malaysia. They can open their own company but they only can be shareholder, not director.
- Applicants below 50 are required to show liquid assets above RM500,000 and a monthly income of over RM10,000 (equivalent).
- Applicants over 50 have to show liquid assets over RM350,000, and a monthly income over RM10,000.
Upon Approval – Fixed Deposit Requirements for MM2H
All applicants have to make a Fixed Deposit depending on their age, as follows:
I) MM2H Applicants age limit below 50 years:
- Must inject a Fixed Deposit in a bank account in Malaysia of RM300,000
- Can withdraw up to RM150,000 for the purchase of a house, medical insurance or children’s education expenses after the deposit has been placed for one year
- Applicants can use their car purchase grant to withdraw part of their Fixed Deposit after two years.
- Must maintain a minimum balance of RM150,000 from second year onwards and throughout stay in Malaysia under this program.
ii) MM2H Applicants aged 50 years and above:
- Must place a Fixed Deposit in a bank account in Malaysia of RM150,000
- Can withdraw up to RM50,000 of the fixed deposit after one year to purchase of a house, medical insurance or children’s education expenses.
- Applicants can use their car purchase grant to withdraw part of their Fixed Deposit after two years.
- Must maintain a minimum balance of RM100,000 throughout their stay in Malaysia under this program.
Steps to apply MM2H:
| STEPS | DESCRIPTION |
|
Step 1: Pre-submission |
Need to arrange documents |
| Step 2: Submit your application |
Submission of application |
|
Step 3: Conditional approval letter issued |
Conditional approval letter is issued to the approved applicant by the Immigration Unit, MM2H Centre. |
| Step-4: Arrival in Malaysia |
After receiving the Conditional Approval letter:
|
|
Step 5: Submit Remaining documents |
Submit remaining documents to the Immigration Unit, MM2H Centre:
|
|
Step 6: Collect your visa |
The applicant can now collect the Malaysia My Second Home Visa. |
Withdrawal Requirements:
MM2H participants are allowed to withdraw partial of the required Fixed Deposit from the second year onwards (RM50,000 for aged 50 years and above) / (RM150,000 for aged 50 years and below) for approved expenses related to house purchase, car purchase, education for children in Malaysia and medical purposes. They have to maintain the balanced RM100,000 (for aged 50 years and above) / RM150,000 (for aged 50 years and below) of Fixed Deposit until they terminate from MM2H Programmer.
The documents required for Fixed Deposit Withdrawal are:
- Letter of intention to withdraw Fixed Deposit account
- Copy of MM2H visa
- Copy of front-page passport
- Copy of Fixed Deposit certificate.
- Copy proof of payment for Residential property purchase (to submit of all pages of Sales & Purchase Agreement & receipt), Car purchase (to submit car grant title & receipt), Children’s education in Malaysia (to submit receipt), Medical expenses (to submit receipt)
- Copy of Conditional Approval Letter
Benefits of holding MM2H:
Purchase A House: Any foreigner may purchase any number of residential properties in Malaysia, subject to the minimum price established for foreigners by the different states. They start from RM500,000 per unit for most states, but in Kuala Lumpur minimum value to buy is RM 1million.
Purchase of a Car: An approved participant under the MM2H program, with first MM2H’s Visa approved from 1 January 2017 until 31 December 2017, is eligible for:
(I) Exemption of excise duty to purchase a new locally assembled vehicle (Completely Knocked-Down -CKD); OR
(ii) Exemption of import duty and excise duty to import a pre-owned private vehicle (Completely Built-Up – CBU) into Malaysia.
THE STANDARD PROCEDURE FOR MM2H APPLICATION:
Kindly provide us details of the proposed applicant details (i.e. Applicant name, number and address) in order for us to prepare a new engagement letter.
The documents checklist and estimated application timeline are also attached for your easy reference.
1. Letter of application (cover letter):
Include information on personal background, intention to join the MM2H Program, if joining as a single or with family and briefly explain how you will support your stay in Malaysia (financial capabilities).
2. A copy of resume by the main applicant (and spouse respectively, if applicable) which includes the following information:
- Academic qualification
- Working experience
- Skills or expertise acquired
3. One (1) copy of MM2H Application Form (downloadable from MM2H website)
Note: Form has to be completed individually for the main applicant and all.
4. Three (3) copies of 12 form – social visit pass
- One (1) original copy (Form is downloadable from MM2H website); and
- Two (2) photostat copies
Note: Form has to be completed individually for main applicant and all dependents.
5. Four (4) colored passport sized photographs (3.5 * 5.0 cm)
6. Copy of passport / Travel documents
- One (1) copy with certification on personal particulars page including last entry stamp into Malaysia (and its relevant pass g. Student Pass/ Employment Pass etc., if applicable)
- Two (2) copies of personal particulars page
Note: Validity of passport MUST be minimum (12) months upon submission of the application to MM2H Centre.
7. Letter of good conduct from your relevant government agency
8. Self-declaration on main applicant’s/ dependents health conditions – from RB (downloadable from MM2H website)
9. Certified copy of Marriage Certificate (if accompanied by spouse)
10. Certified copy of Birth Certificate/ legal documents (if accompanied by children/ adopted children/stepchildren/parents);
11. Certified copies of latest 3 months bank statement/other related financial document(s) to indicate the financial capability to support stay in Malaysia;
12. Certified copies of latest 3 months pay slips and/or pension (primary source).
13. Financial status or account verification and job and salary verification authorization letter; to verify the financial documents as well as job and salary with the relevant.
Do not hesitate to Contact Us today for immediate Service.
