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There are two categories where you can either buy locally assembled car in Malaysia or import your personal cal from your country to entitle the MM2H tax-free car incentive.
For LOCAL CAR PURCHASE
You need to purchase the car within one year from the date
of your MM2H visa was stamped. In Malaysia, most of the good brand car were produced locally such as Mercedes,Volvo,BMW,Toyota,Honda,Nissan,Hyundai,etc.
Here is the MM2H Car Tax-Free Price List guide for the some local cars for your reference. The price may varies from time to time, controlled by Malaysia Ministry of Finance and Malaysia Customs Department.
Here are some useful links for lastest models for local car purchase:-
If you require, we will provide assistance to you on how to obtain MM2H Car Financing. The loan can range from 50% to 70% with repayment of 5 years to 7 years depending on your profile. The current interest rate is 3.5% per annum.
Monthly repayment will be as follows:
For example, for a Toyota Vios of MM2H price of MYR 60,000 with an interest rate of 3.5% per annum
Loan RM 30,000 (50%) for 5 years, monthly installment will be MYR 588
Loan RM 30,000 (50%) for 7 years, monthly installment will be MYR 445
Loan RM 42,000 (70%) for 5 years, monthly installment will be MYR 822
Loan RM 42,000 (70%) for 7 years, monthly installment will be MYR 622
The above services are available to all our Malaysia My Second Home participants. Terms and conditions apply for subscribing to the services. We will be able to assist you in all aspects of migration to ensure your settlement in Malaysia is as easy and quick as possible.
For IMPORTATION OF CAR
- This process can begin as soon as your MM2H (Malaysia My Second Home) visa is stamped and your car must be imported from your country within 6 months from date of stamping.
- The car can be of any model and price but it has to be registered in your or your wife’s name prior to your participation in the MM2H (Malaysia My Second Home) program and has to be from your last country of residence.
- Approvals are required from the Ministry of Finance, Customs and Transport Department for your eligibility.
We also provide other services such as Immigration Services, Work Permit Malaysia, MM2H Services, Company Formation, Regional Office Malaysia, Malaysia Payroll, Accounting Services. Call us now +603-20789990 or visit our website http://www.beyondcorporategroup.com/ for more information!