By Chan Wei Chao (REN 39846), Team Leader, Bricksmen Team · IQI Realty Sdn. Bhd. · Updated 23 October 2026
Malaysia My Second Home (MM2H) is a long-stay pass for foreigners who want to live in Malaysia. Under the current rules, every MM2H participant must place a fixed deposit in a Malaysian bank and buy a home, which must be held for 10 years. In Penang, the minimum price for MM2H holders is RM600,000 for condominiums and RM1,000,000 for landed homes, instead of RM1 million (island condominiums) or RM3 million (island landed homes) for other foreigners.
This guide explains the 2026 MM2H tiers, what you will pay, how Penang’s state rules work with the programme, and which Penang new launches fit each tier.
MM2H 2026 at a glance
| Requirement | Silver | Gold | Platinum |
|---|---|---|---|
| Minimum age | 25 | 25 | 25 |
| Fixed deposit in a Malaysian bank | USD 150,000 (about RM680,000) | USD 500,000 (about RM2.25 million) | USD 1,000,000 (about RM4.5 million) |
| Pass length | 5 years, renewable | 15 years, renewable | 20 years, renewable |
| Minimum property price | RM600,000 | RM1,000,000 | RM2,000,000 |
| Property holding period | Cannot sell for 10 years (upgrading to a higher-value home is allowed) | ||
| Participation fee (principal only) | RM1,000 | RM3,000 | RM200,000 |
| Renewal fee (per person) | RM1,500 | RM3,000 | RM5,000 |
| Minimum stay | 90 days a year in total (for participants under 50) | ||
| Work and business | Not allowed without a separate pass | Not allowed without a separate pass | Allowed |
Up to 50% of the fixed deposit can be withdrawn after approval to buy a home, or for education, medical or tourism costs. There is no longer an offshore income requirement. A fourth category, the Special Economic Zone / Special Financial Zone (SEZ/SFZ) tier, applies only to Johor’s special zones such as Forest City, so it cannot be used for a home in Penang.
Other government fees
| Fee | Amount |
|---|---|
| Processing fee | RM5,000 for the principal and RM2,500 for each dependant |
| Pass fee | RM500 per person per year |
| Multiple-entry visa | RM0–RM50 per person per year, depending on nationality |
| Security bond | About RM1,500 per person, depending on nationality |
Applications must be made through an MM2H agent licensed by MOTAC; direct applications are not accepted. Licensed agents’ service fees are typically RM40,000 (Silver), RM55,000 (Gold) and RM70,000 (Platinum). Final approval comes from the Immigration Department. All applicants also need a letter of good conduct (police certificate).
Penang’s state rules for foreign buyers
Every foreign purchase in Penang needs state consent from the Penang Land and Mines Office (PTG). The state sets its own minimum prices, and MM2H holders get a special rate:
| Buyer | Island strata (condo, serviced suite) | Island landed | Mainland strata | Mainland landed |
|---|---|---|---|---|
| Foreign individual or company | RM1,000,000 | RM3,000,000 | RM600,000 | RM1,000,000 |
| MM2H holder | RM600,000 | RM1,000,000 | RM600,000 | RM1,000,000 |
| Permanent resident | RM250,000 | RM250,000 | RM250,000 | RM250,000 |
The MM2H rate covers residential property only, up to two units. RM600,000 (condominiums) or RM1,000,000 (landed homes) is the floor for Silver participants; Gold participants must buy at RM1,000,000 or more and Platinum participants at RM2,000,000 or more.
Foreigners, including MM2H holders, cannot buy low-cost or low-medium-cost homes, affordable homes reserved by the state, Bumiputera-quota units or Malay reserve land.
Buying costs for MM2H holders
| Cost | Rate |
|---|---|
| Stamp duty on the transfer (MOT) | Flat 8% for buyers who are not Malaysian citizens or permanent residents, from 1 January 2026 |
| Penang state levy | 3% of the price; 1.5% for island strata priced RM1 million to RM1.5 million |
| State consent application fee | RM10,000 per residential title (individual buyer) |
| Legal fees, loan stamp duty | Standard scale; see our stamp duty calculator |
Example: a Silver participant buying an RM800,000 condominium on Penang Island would pay about RM64,000 in transfer stamp duty (8%), a RM24,000 state levy (3%) and a RM10,000 consent fee, about RM98,000 before legal fees.
Penang new launches that fit each MM2H tier
Prices below are the indicative ranges on our project pages. Only units at or above your tier’s minimum qualify, and each developer decides how many units it sells to foreign buyers, so confirm the foreign-buyer allocation before booking.
Silver (RM600,000 and above)
| Project | Area | Indicative price | Completion |
|---|---|---|---|
| Eight & Eight | Tanjung Tokong (island) | From RM691,628 | 2029 |
| Pinnacle Bukit Gambier | Gelugor (island) | RM780,800–RM1,289,800 | 2030 |
| The Fount | Batu Uban (island) | RM843,000–RM1,203,000 | 2030 |
| The Pier | Penang World City (island) | From RM856,620 | 2028 |
| Triuni Residences | Batu Uban (island) | From RM875,700 | Completed |
| Alton Skyvillas | Jelutong (island) | RM898,560–RM2,062,500 | Completed |
| Queens Residences Q3 | Bayan Lepas (island) | RM958,130–RM1,988,640 | 2027 |
| Mezon | Batu Kawan (mainland) | RM595,000–RM856,000 | 2030 |
| SEIRAS | Batu Kawan (mainland) | RM609,000–RM666,000 | 2028 |
Gold (RM1,000,000 and above)
| Project | Area | Indicative price | Completion |
|---|---|---|---|
| Waterstone | Tanjung Bungah | RM1,193,000–RM2,405,000 | 2028 |
| Lumina Residence | George Town | RM1,256,000–RM1,307,000 | 2027 |
| Valencia Residence | Bayan Lepas | RM1,391,300–RM1,553,600 | Completed |
| Larger units at Queens Residences Q3, Alton Skyvillas and Pinnacle Bukit Gambier | Island | RM1 million and above | Varies |
Platinum (RM2,000,000 and above)
| Project | Area | Indicative price | Completion |
|---|---|---|---|
| Casa Rica (Phase 2) (semi-detached) | Sungai Ara | From RM2,377,500 | Completed |
| Alton Skyvillas Type F1 | Jelutong | RM2,062,500 | Completed |
| Waterstone top-tier units | Tanjung Bungah | Up to RM2,405,000 | 2028 |
You can filter every project by area, budget and completion on our Penang new launch directory, or put up to three side by side with the compare tool.
Island or mainland?
For MM2H holders the minimum is the same everywhere in Penang, RM600,000 for condominiums and RM1,000,000 for landed homes, so the choice comes down to lifestyle and budget. The island (George Town, Tanjung Tokong, Tanjung Bungah, Gelugor, Bayan Lepas) is closer to private hospitals, international schools and the airport. The mainland, especially Batu Kawan, offers newer townships and larger homes for the same money. With a 10-year holding period, pick a home you are happy to live in, not one you plan to flip.
How to apply, step by step
- Choose a tier and a MOTAC-licensed MM2H agent.
- Prepare documents: application letter, CV, passport photos and passport copies, marriage and birth certificates (if applicable), police certificate, recent payslips and bank statements, all certified by an apostille, notary or Malaysian mission.
- Submit through the agent to the MM2H One Stop Centre for approval in principle.
- Place the fixed deposit in a Malaysian bank and complete medical checks and insurance.
- Buy your home at or above your tier’s minimum (RM600,000 for Silver in Penang), then apply for state consent through your lawyer.
- Receive the pass and meet the 90-day yearly stay rule if you are under 50.
Frequently asked questions
What is the minimum property price for MM2H in Penang?
Penang’s state minimum for MM2H holders is RM600,000 for condominiums and RM1,000,000 for landed homes, on both the island and the mainland. Gold participants must buy at RM1,000,000 or more and Platinum participants at RM2,000,000 or more.
Can MM2H holders buy landed property on Penang Island?
Yes. The MM2H minimum for landed homes is RM1,000,000, instead of the RM3 million minimum for other foreigners, but your tier’s minimum still applies and Bumiputera-quota or affordable units are excluded.
Do MM2H holders pay 8% stamp duty?
From 1 January 2026, buyers who are not Malaysian citizens or permanent residents pay a flat 8% stamp duty on the transfer of residential property. MM2H holders are not permanent residents, so plan for the 8% rate and confirm with your lawyer.
Can I use the MM2H fixed deposit to buy the house?
Yes. Up to 50% of the fixed deposit can be withdrawn after approval to buy a home. For Silver, that is about USD 75,000, which covers only part of an RM600,000 purchase.
Can I use the SEZ category for a home in Penang?
No. The SEZ/SFZ category is limited to Johor’s special zones, such as Forest City.
Can I sell the house later?
Not for 10 years under MM2H, unless you upgrade to a higher-value home. Breaking the rule can lead to the pass being revoked.
Planning to buy in Penang under MM2H?
I can shortlist Penang new launches above your tier’s minimum, check each developer’s foreign-buyer allocation and send the latest price lists. WhatsApp or call +60 10-313 9113.
Sources
- MM2H official guidelines, Ministry of Tourism, Arts and Culture (MOTAC)
- MOTAC: New MM2H eligibility requirements (Silver, Gold, Platinum)
- Pejabat Tanah dan Galian Pulau Pinang: Perolehan Tanah oleh Warganegara Asing
- C K Lim & Partners: Can foreigners buy property in Penang?
- Skrine: Amendments to the Stamp Act (8% duty for foreign buyers)
- IMI Daily: Malaysia announces new MM2H rules
This article is general information based on official MM2H guidelines, the Penang state guideline and published reports as of 23 October 2026. It is not legal, immigration, tax or financial advice. Fees, minimum prices and exchange rates change; confirm the current rules with a MOTAC-licensed MM2H agent and your lawyer before applying or buying. Prices shown are indicative developer prices and depend on availability.