langkawi magazine

Archives SECTION

Malaysia Offers Indians A Second Home

Malaysia has rolled out the red carpet to Indians, offering them a second home in Malaysia.

A new programme, which is being marketed actively to Indians, allows them to stay in Malaysia for at least five years, buy property, pursue education and even take up employment with prior permission, says a report in the business daily, the Economic Times.

The flexible facility allows Indians to access developed infrastructure, medical facilities, education opportunities and entertainment options, the paper quotes Malaysia's Tourism Minister Leo Michael Toyad, as saying. Of course, says the report, the offer comes with a cost: Anybody wishing to avail of the second home offer has to deposit RM150,000 with any financial institution in Malaysia till the time he wishes to use the facility. Also they should have an offshore income of RM7,000.

Those availing of the second home facility could also do business and even pursue higher education. The report says Malaysia would benefit through the programme by way of money circulation and the resulting economic activity, the minister said.

Arrival of businessmen in Malaysia through the programme would also lead to additional earnings for the domestic economy, he added. On the other hand, the Indian citizen availing the offer could relax in a farm house in the lap of nature, set up another base for their business and make use of developed infrastructure available in Malaysia.

New Delhi 2/9/2004