This paper deals with the theoretical analysis of free vibration and biaxial buckling of magnetoelectro-elastic (MEE) microplate resting on Kelvin-Voigt visco-Pasternak foundation and subjected to initial external electric and magnetic potentials, using modified strain gradient theory (MSGT). Kirchhoff plate model and Hamilton's principle are employed to extract the governing equations of motion. Governing equations were analytically solved to obtain clear closed-form expression for complex natural frequencies and buckling loads using Navier's approach. Numerical results are presented to reveal variations of natural frequency and buckling load ratio of MEE microplate against different amounts of the length scale parameter, initial external electric and magnetic potentials, aspect ratio, damping and transverse and shear stiffness parameters of the visco-Pasternak foundation, length to thickness ratio, microplate thickness and higher modes. Numerical results of this study illustrate that by increasing thickness-to-material length scale parameter ratio, both natural frequency and buckling load ratio predicted by MSGT and modified couple stress theory are reduced because the non-dimensional length scale parameter tends to decrease the stiffness of structures and make them more flexible. In addition, results show that initial external electric and initial external magnetic potentials have no considerable influence on the buckling load ratio and frequency of MEE microplate as the microplate thickness increases.