Moving to Penang: your step-by-step checklist
Everything it actually takes to relocate — the visa, the real costs, the application, buying property and settling in. Tick each step off as you go.
If you're thinking about making Penang home, the hard part isn't the decision — it's knowing the order things happen in. This is the whole path in one place: five phases, each with the exact steps, so you always know what comes next and what it costs.
Phase 1 of 5
Confirm you qualify
Malaysia My Second Home (MM2H) is the visa most movers use. Since the July-2024 overhaul there are three tiers — the first question is which one your savings reach.
Check you meet the minimum age (25+ for the national tiers)
The SEZ category sits lower at 21, but the national Silver/Gold/Platinum tiers start at 25.
Pick your tier by the fixed deposit you can lock
Silver USD 150,000 · Gold USD 500,000 · Platinum USD 1,000,000. Deposits are USD-denominated; the ringgit figures move with FX.
Check which tier your savings reachUnderstand the deposit is locked capital, not money spent
On Silver, up to 50% can be withdrawn after one year for an approved property purchase, healthcare or tourism.
Verify the deposit currency and minimum-stay rules on the official portal
Reporting differs on the USD-vs-RM denomination and the exact annual-stay days — confirm the binding figures at source before committing.
Official MM2H portal (mm2h.gov.my)
Phase 2 of 5
Budget the money you actually spend
The fixed deposit is locked, not spent. What you actually pay out is the fees, property and living costs — budget those separately so the real number is honest.
Budget the one-off application costs (≈ RM 19,700–61,600, indicative)
Licensed agent fee, medical report, first-year insurance and property conveyancing. These are market-range estimates, not government figures.
Budget monthly living costs (≈ RM 3,000–5,000 to live comfortably)
Rent, food, utilities, healthcare and getting around — see the full breakdown.
Penang cost-of-living breakdown
Phase 3 of 5
Prepare the application
MM2H applications run through a licensed agent — you cannot file directly. Get the required reports and cover in place before you start.
Engage a MOTAC-licensed MM2H agent
Applications must go through a licensed agent; fees run roughly 10,000–30,000 RM and vary widely — confirm before engaging.
Get a medical report from a registered Malaysian practitioner
Arrange medical insurance covering Malaysia
Coverage requirement and cost depend on your age and provider.
Gather your financial and identity documents
Passport, proof of the fixed deposit and (for Gold) proof of foreign/offshore income. Your licensed agent will confirm the exact list.
Phase 4 of 5
Buy your qualifying property (Penang rules)
Every tier now requires a property purchase. In Penang you must clear whichever is higher — the tier minimum or the Penang state floor for foreign buyers.
Meet the Penang foreign-buyer floor: RM 1,000,000 (Penang Island) or RM 500,000 (mainland / Seberang Perai)
Your qualifying purchase must satisfy whichever is higher — your MM2H tier minimum or this Penang state floor.
Plan for the purchase timing and hold period
The mandatory purchase is tied to your approval and must be held for the required minimum period — confirm the current window with your agent and the official portal.
Engage a conveyancing lawyer for the purchase
Legal/conveyancing fees scale to the property price (8,000–25,000 RM, indicative).
Phase 5 of 5
Settle into Penang
Once the visa and property are moving, the last phase is the practical setup that turns a visa into a life here.
Register with a hospital (Island Hospital, Gleneagles or Loh Guan Lye)
Penang is a regional medical hub — private care is strong and far cheaper than Singapore or Australia.
Penang healthcare & hospitalsOpen a local bank account
Choose where to live (island vs mainland, by budget and commute)
Compare neighborhoods & rentsSort out getting around (car, ride-hailing or public transport)
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Moving to Penang — quick answers
What visa do I need to move to Penang?
Most movers use Malaysia My Second Home (MM2H). Since the July-2024 overhaul it has three tiers — Silver (USD 150,000 fixed deposit), Gold (USD 500,000) and Platinum (USD 1,000,000) — and every tier now requires a qualifying property purchase. Confirm the current, binding figures on the official MM2H portal.
How much money do I need to move to Penang?
Two separate numbers. First, a fixed deposit that is locked, not spent (from USD 150,000 on Silver). Second, the money you actually spend — licensed agent, medical report, insurance and property conveyancing (indicatively ≈ RM 19,700–61,600) plus roughly RM 3,000–5,000 a month to live comfortably.
Can foreigners buy property in Penang?
Yes, above the Penang state floor for foreign buyers — RM 1,000,000 (Penang Island) or RM 500,000 (mainland / Seberang Perai). Your MM2H qualifying purchase must meet whichever is higher: the tier minimum or this state floor.
What is the minimum age for MM2H?
25 for the national Silver, Gold and Platinum tiers (the separate SEZ category is lower at 21).