Looking to move to Penang
Apr 9th 2018, 10:35 pm
#16
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Joined: Feb 2009
Location: Far North Queensland
Posts: 17,625
Re: Looking to move to Penang
The MM2H rules seem to be getting stricter and requires more money. There are other choices. Check if the Sarawak MM2H fits the bill. There is a Thailand retirement visa - I am a little out of touch with that (I did it over 10 years ago) but go over to the Thailand sub forum and ask questions. Sri Lanka also has a retirement programme. There are probably others. Best of luck with your research!! We have all been there, done that.
Apr 9th 2018, 10:39 pm
#17
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Joined: Feb 2009
Location: Far North Queensland
Posts: 17,625
Re: Looking to move to Penang
If you havent found it, there's a sub section with this Malaysia section, Retirement and MM2H. You'll find many posts about MM2H including some recent ones on Sarawak MM2H.
Apr 10th 2018, 4:39 am
#18
BE Enthusiast
Joined: Jan 2017
Location: Kuching, Sarawak
Posts: 674
Re: Looking to move to Penang
Good advice, Baked Bean. The Financial requirements for the "Over-60" 1 Year Retirement Visa in Thailand is quite close to the SarawakM2H. For Thailand it's EITHER a Bank Deposit of ฿800,000 (@US$25,500) OR ฿65,000/monthly pension (US$1645). There is a 90 Day reporting requirement as well. I don't know if they require an agent/sponsor, though.
The Philippines has the SRRV (Special Resident Retiree Visa) 1. With Pension - 50 years old and above - the required time deposit is US$10,000.00 plus a monthly pension of US$800.00 for a single applicant and US$1,000 for couple.
2. Without Pension 50 years old and above - US$20,000.00 time deposit
35 to 49 years old - US$50,000.00 time deposit. You cannot buy property in the Philippines unless you are married to a Philippina/o.
Lot's of options and, of course, one has to weigh in the issues of financial and social stability, crime, corruption, activities, language, health care, taxation, etc.
The Philippines has the SRRV (Special Resident Retiree Visa) 1. With Pension - 50 years old and above - the required time deposit is US$10,000.00 plus a monthly pension of US$800.00 for a single applicant and US$1,000 for couple.
2. Without Pension 50 years old and above - US$20,000.00 time deposit
35 to 49 years old - US$50,000.00 time deposit. You cannot buy property in the Philippines unless you are married to a Philippina/o.
Lot's of options and, of course, one has to weigh in the issues of financial and social stability, crime, corruption, activities, language, health care, taxation, etc.
Apr 10th 2018, 7:35 am
#19
BE Enthusiast
Joined: Aug 2015
Location: Penang
Posts: 959
Re: Looking to move to Penang
The topic starter did not indicate whether he is looking for a retirement/residence visa, or whether he needs a work permit as well. I think it is a bit premature to already point towards MM2H or "MM2H-like" visa without knowing his requirements.
Apr 15th 2018, 9:11 pm
#20
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Joined: Feb 2009
Location: Far North Queensland
Posts: 17,625
Re: Looking to move to Penang
Poster seems to be looking at mm2h requirements. See comment about income. Unless I am misinterpreting. Anyway he can let us know.
Apr 16th 2018, 3:01 pm
#21
BE Forum Addict
Joined: Dec 2016
Posts: 1,013
Re: Looking to move to Penang
Good advice, Baked Bean. The Financial requirements for the "Over-60" 1 Year Retirement Visa in Thailand is quite close to the SarawakM2H. For Thailand it's EITHER a Bank Deposit of ฿800,000 (@US$25,500) OR ฿65,000/monthly pension (US$1645). There is a 90 Day reporting requirement as well. I don't know if they require an agent/sponsor, though.
The Philippines has the SRRV (Special Resident Retiree Visa) 1. With Pension - 50 years old and above - the required time deposit is US$10,000.00 plus a monthly pension of US$800.00 for a single applicant and US$1,000 for couple.
2. Without Pension 50 years old and above - US$20,000.00 time deposit
35 to 49 years old - US$50,000.00 time deposit. You cannot buy property in the Philippines unless you are married to a Philippina/o.
Lot's of options and, of course, one has to weigh in the issues of financial and social stability, crime, corruption, activities, language, health care, taxation, etc.
The Philippines has the SRRV (Special Resident Retiree Visa) 1. With Pension - 50 years old and above - the required time deposit is US$10,000.00 plus a monthly pension of US$800.00 for a single applicant and US$1,000 for couple.
2. Without Pension 50 years old and above - US$20,000.00 time deposit
35 to 49 years old - US$50,000.00 time deposit. You cannot buy property in the Philippines unless you are married to a Philippina/o.
Lot's of options and, of course, one has to weigh in the issues of financial and social stability, crime, corruption, activities, language, health care, taxation, etc.
