Only a short flight away from Kuala Lumpur and Singapore, Lavanya is the ideal weekend hideaway for discerning expats and affluent Malaysians alike. And with ‘Malaysia My Second Home’ (MM2H) program catapulting the country in the ‘International Living’s Annual Global Retirement Index 2014’ among the top five destinations worldwide – it is the perfect retirement place for those in quest of luxurious and carefree tropical lifestyle.
But even if your long-term plans should change over time, as a Lavanya residence owner, you are looking at a bright future!
One of the very few island developments with a freehold land title, Lavanya is sure to attract buyers’ interest. With the current purchase price three times lower than in Phuket and other popular Asian destinations, and the ambitious island development plans that include the addition of St. Regis, Shangri-La & Ritz Carlton along with the transformation of the airport into a modern airline international hub with double the present capacity – the real estate prices in Langkawi are expected to skyrocket in the upcoming decade, promising a strong capital growth and unsurpassed yields!
ABOUT MM2H PROGRAMME
Malaysia My Second Home (MM2H) Programme 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
Malaysia My Second Home (MM2H) Programme 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.
It is open to citizens of all countries recognised 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 dependants.
FINANCIAL REQUIREMENTS
Applicants are expected to be financially capable of supporting themselves on this programme in Malaysia.
Upon application:
- Applicants aged below 50 years are required to show proof of liquid assets worth a minimum of RM500,000 and offshore income of RM10,000 per month. For certified copy(s) of Current Account submitted as financial proof, applicants must provide the latest 3 months’ statement with each month’s credit balance of
RM 500,000. Applicants aged 50 and above may comply with the financial proof of RM350,000 in liquid assets and off shore income of RM10,000 per month. For certified copy(s) of Current Account submitted as financial proof, applicants must provide the latest 3 months’ statement with each month’s credit balance of RM 350,000. For those who have retired, they are required to show proof of receiving pension from government RM 10,000
per month.Approved participant who has purchased and own property which was bought at RM1 million and above in Malaysia may state his/her intention in letter of application during submission to lower down basic fixed deposit requirement.
UPON APPROVAL
(A) Aged Below 50 years old
Open a fixed deposit account of RM300,000.00. After a period of one year, the participant can withdraw up to RM150,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes. Must maintain a minimum balance of RM150,000.00 from second year onwards and throughout stay in Malaysia under this programme. Approved participant who has purchased and own property which was bought at RM1 million and above in Malaysia may state his/her intention in letter of application during submission to lower down basic fixed deposit requirement of RM300,000 to RM150,000 on condition that the property has been fully paid and ownership documents such as grant and land title have already been issued. This amount may not be withdrawn until the participant decides to terminate his participation in MM2H programme.
(B) Aged 50 years and above
Can either choose to:
Open a fixed deposit account of RM150,000.00 ; OR Show proof of receiving pension from government RM10,000 per month. After a period of one year, participant who fulfills the fixed deposit criterion can withdraw up to RM50,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes. Participant must maintain a minimum balance of RM100,000.00 from the second year onwards and throughout his/her stay in Malaysia under this programme.
Approved participant who has purchased and own property which was bought at RM1 million and above in Malaysia may state his/her intention in letter of application during submission to lower down basic fixed deposit requirement of RM150,000 to RM 100,000 on condition that the property has been fully paid and ownership documents such as grant and land title have already been issued. This amount may not be withdrawn until the participant decides to terminate his participation in MM2H programme.
MEDICAL REPORT
All applicants and their dependants are required to submit a medical report from any private hospital or registered clinic in Malaysia.
MEDICAL INSURANCE
Approved participants and their dependants must possess valid medical insurance coverage that is applicable in Malaysia from any insurance company.
However, exemptions may be given for participants who face difficulty in obtaining a medical insurance due to their age or medical condition.
SECURITY BOND (DIRECT APPLICATION ONLY)
Applicants applying directly are required to fulfill the security bond condition. Please refer to Personal Bond for rate per person by nationality, ranging from RM200 to RM2000.00.
PERSONAL BOND (APPLICATION THROUGH AGENT)
Licensed companies are required to provide the personal bond for their clients who have been approved under the MM2H Program.
* Information from MM2H, please refer www.mm2h.gov.my for latest updates & further information.