Malaysia.
Jan 20th 2004, 11:17 am
#1
Forum Regular
Thread Starter
Joined: Dec 2003
Posts: 45
Malaysia.
Could someone be kind enough to remind me of the rules regarding retirement to Malaysia?
Have been informed that they cover retirement up to and beyond the age of 50.
Thank you.
Have been informed that they cover retirement up to and beyond the age of 50.
Thank you.
Jan 24th 2004, 8:43 am
#2
Forum Regular
Joined: Apr 2003
Location: Singapore
Posts: 216
Re: Malaysia.
Originally posted by bucklt
Could someone be kind enough to remind me of the rules regarding retirement to Malaysia?
Have been informed that they cover retirement up to and beyond the age of 50.
Thank you.
Could someone be kind enough to remind me of the rules regarding retirement to Malaysia?
Have been informed that they cover retirement up to and beyond the age of 50.
Thank you.
Malaysia.......good choice!
Malaysia has been operating a special visa system for some time now, under various names, at the present time it is called 'Malaysia My Second Home'.
Apparently its quite good, there are 2 types of categories you can apply under:- Those aged under 50 years & those aged over 50.
You should check out the details on the net, but from what I understand if you in the '50 years and above' category all you need is about 25,000 Quid in a Malaysian bank (as a couple, even less if you are single). Plus you need a medical check and health insurance coverage (not a problem).
Once approved, you get a re-newable 5 year visa which allows you multiple entry, right to buy freehold property but no paid work! I think you may be able to work on a voluntry basis though?
Quite a few Brits currently living in places like Hong Kong, Singapore are looking at Malaysia and possibly Thailand for an early retirement because these places offer a very good quality of life as reasonable cost! (I'm also serious considering Malaysia because I have got an Asian wife).
There has been this subject discussed before on this forum, so you can conduct a search to see the details.
Good luck and if I can offer anymore assistance please ask.
Jan 25th 2004, 7:12 am
#3
Forum Regular
Thread Starter
Joined: Dec 2003
Posts: 45
Re: Malaysia.
Originally posted by paddythepilot
-----------------------------------------------------------------------------------
Malaysia.......good choice!
Malaysia has been operating a special visa system for some time now, under various names, at the present time it is called 'Malaysia My Second Home'.
Apparently its quite good, there are 2 types of categories you can apply under:- Those aged under 50 years & those aged over 50.
You should check out the details on the net, but from what I understand if you in the '50 years and above' category all you need is about 25,000 Quid in a Malaysian bank (as a couple, even less if you are single). Plus you need a medical check and health insurance coverage (not a problem).
Once approved, you get a re-newable 5 year visa which allows you multiple entry, right to buy freehold property but no paid work! I think you may be able to work on a voluntry basis though?
Quite a few Brits currently living in places like Hong Kong, Singapore are looking at Malaysia and possibly Thailand for an early retirement because these places offer a very good quality of life as reasonable cost! (I'm also serious considering Malaysia because I have got an Asian wife).
There has been this subject discussed before on this forum, so you can conduct a search to see the details.
Good luck and if I can offer anymore assistance please ask.
-----------------------------------------------------------------------------------
Malaysia.......good choice!
Malaysia has been operating a special visa system for some time now, under various names, at the present time it is called 'Malaysia My Second Home'.
Apparently its quite good, there are 2 types of categories you can apply under:- Those aged under 50 years & those aged over 50.
You should check out the details on the net, but from what I understand if you in the '50 years and above' category all you need is about 25,000 Quid in a Malaysian bank (as a couple, even less if you are single). Plus you need a medical check and health insurance coverage (not a problem).
Once approved, you get a re-newable 5 year visa which allows you multiple entry, right to buy freehold property but no paid work! I think you may be able to work on a voluntry basis though?
Quite a few Brits currently living in places like Hong Kong, Singapore are looking at Malaysia and possibly Thailand for an early retirement because these places offer a very good quality of life as reasonable cost! (I'm also serious considering Malaysia because I have got an Asian wife).
There has been this subject discussed before on this forum, so you can conduct a search to see the details.
Good luck and if I can offer anymore assistance please ask.
Jan 26th 2004, 2:17 am
#4
Ex Mod (2002-2005)
Joined: May 2002
Location: NSW
Posts: 5,464
Re: Malaysia.
Originally posted by paddythepilot
You should check out the details on the net
You should check out the details on the net
Send me a PM if you need the page translated.
Peter
Jan 26th 2004, 9:03 am
#5
Ex Mod (2002-2005)
Joined: May 2002
Location: NSW
Posts: 5,464
Re: Malaysia.
http://www.imi.gov.my/eng/im_MalaysiaMy2Home.asp
Malaysia My Second Home
Kerajaan Malaysia mengalu-alukan kehadiran warganegara-warganegara dari seluruh dunia (kecuali Israel dan Yugoslavia) untuk masuk dan menetap di dalam negara ini di atas Pas Lawatan Sosial Jangka Panjang melalui program Malaysia My Second Home yang dahulunya dikenali sebagai Silver Hair Programme.
The Malaysian government welcomes foreign nationals from all countries (except Israel and Yugoslavia [sic]) to enter and reside in this country on a Long-Term Social Visit Pass under the Malaysia My Second Home programme formerly known as the Silver Hair Programme.
This programme DOES NOT promised for Permanent Resident status.
This programme does not automatically lead to permanent residency in Malaysia.
Rules and Regulations
Age:
This programme are open for all range of age. Candidates may include their family members including their children who are still studying and also maid.
There is no age restriction for participants of this programme. Candidates may include family members including children who are still studying. Maid(s) may also be included.
Finance/Source of Income:
Peserta-peserta diwajibkan memiliki Akaun Simpanan (simpanan tetap) di mana-mana Institusi Kewangan atau Bank di Malaysia. (Simpanan wang ini hanya boleh dikeluarkan selepas tamat tempoh Pas Lawatan Sosial Jangka Panjang).
Participants are required to have a savings account (fixed/time deposit) in any financial institution or bank in Malaysia. (This deposit can only be withdrawn at the end of the validity of the Long-Term Social Visit Pass).
Individual Applicant : Savings RM100,00 and above
Duo Applicant Couples : Savings RM150,000.00 and above
Or
Individual Applicant : Monthly income RM7,000.00 and above
Duo Applicant Couples : Monthly income RM10,000.00 and above
(Pendapatan bulanan mesti datang dari wang persaraan, upah atau lain-lain pendapatan tetap)
(Monthly income must be derived from retirement funds, wages or other fixed incomes)
Pengeluaran Pas Lawatan Sosial:
Tempoh kelulusan adalah untuk 5 tahun dan boleh dilanjutkan sehingga 5 tahun lagi. Walaubagaimanapun, Pas Lawatan Sosial ini boleh juga dilanjutkan dari setahun ke setahun. Peserta-peserta program ini akan dikeluarkan Multiple Entry Visa.
Issuance of Social Visit Pass
Initial validity of the Pass is for 5 years, and can be extended for a further 5 years therafter. However, extensions to this Pass is made on a yearly basis (i.e. annual renewal for 1 year after the first 5 years). Participants of this program will be issued a multiple entry visa.
Penaja:
Keperluan mendapatkan penaja boleh diberi kelonggaran jika dapat dibuktikan bahawa peserta tersebut adalah tulin dan tiada penipuan di sebalik latar belakang hidup, kedudukan kewangan dan gaya hidup. Peserta-peserta boleh juga mendapatkan perkhidmatan dari syarikat-syarikat yang mendapat kelulusan dari Jabatan Imigresen Malaysia sebagai penaja.
Sponsor:
The necessity of a sponsor may be relaxed if the applicant can prove that he/she has genuine interest in the program and has no record of fraudulent lifestyle, financial standing and lifestyle. Participants may also engage professional help from relevant companies that deal with the Malaysian Immigration Department on sponsorship matters for this programme.
Cara Permohonan Dikemukakan
Permohonan yang telah lengkap perlu dikemukakan ke:
Ibu Pejabat Imigresen Malaysia,
Aras 4, Blok I (Utara),
Pusat Bandar Damansara
50550 Kuala Lumpur
atau di pejabat Perwakilan Malaysia di luar negara.
Bagi Sabah dan Sarawak, permohonan boleh dikemukakan di
Pejabat Imigresen Negeri Sabah dan Sarawak.
How to apply:
Completed applications must be submitted to:
Malaysian Immigration Head Office,
Aras 4, Blok I (Utara),
Pusat Bandar Damansara,
50550 Kuala Lumpur
or at any Malaysian mission overseas.
For Sabah and Sarawak (East Malaysia on Borneo island), applications can be submitted to the Sabah State Immigration Department or Sarawak State Immigration Department respectively.
Borang-borang dan lampiran:
Forms and documents:
Surat permohonan dari pemohon
Letter of application from applicant.
2 keping borang permohonan Pas Lawatan Sosial - IMM.12- Borang Permohonan Pas Lawatan
2 copies of the Social Visit Pass application form IMM.12
2 keping gambar berukuran passport bagi pemohon dan pasangan (jika ada)
2 passport-sized photographs for the applicant. If married, 2 passport sized photographs for spouse as well.
Salinan passport/dokumen perjalanan bagi pemohon serta pasangan (jika ada)
Photocopies of passport or travel document for applicant and spouse (if any).
Sijil Nikah (jika ditemani pasangan)
Marriage certificate (if spouse is accompanying applicant)
Salinan Penyata Bank yang disahkan
Certified copy of bank account statement.
Salinan Polisi Insuran Perubatan dan Laporan perubatan dari Malaysia yang disahkan
Certified copy of medical insurance policy and Malaysian medical report
Lain-lain dokumen yang berkaitan
Other required documents
Yuran:
Yuran yang dikenakan adalah RM90.00 bagi satu (1) tahun
Fees:
90 Malaysian ringgit for 1 year.
Malaysia My Second Home
Kerajaan Malaysia mengalu-alukan kehadiran warganegara-warganegara dari seluruh dunia (kecuali Israel dan Yugoslavia) untuk masuk dan menetap di dalam negara ini di atas Pas Lawatan Sosial Jangka Panjang melalui program Malaysia My Second Home yang dahulunya dikenali sebagai Silver Hair Programme.
The Malaysian government welcomes foreign nationals from all countries (except Israel and Yugoslavia [sic]) to enter and reside in this country on a Long-Term Social Visit Pass under the Malaysia My Second Home programme formerly known as the Silver Hair Programme.
This programme DOES NOT promised for Permanent Resident status.
This programme does not automatically lead to permanent residency in Malaysia.
Rules and Regulations
Age:
This programme are open for all range of age. Candidates may include their family members including their children who are still studying and also maid.
There is no age restriction for participants of this programme. Candidates may include family members including children who are still studying. Maid(s) may also be included.
Finance/Source of Income:
Peserta-peserta diwajibkan memiliki Akaun Simpanan (simpanan tetap) di mana-mana Institusi Kewangan atau Bank di Malaysia. (Simpanan wang ini hanya boleh dikeluarkan selepas tamat tempoh Pas Lawatan Sosial Jangka Panjang).
Participants are required to have a savings account (fixed/time deposit) in any financial institution or bank in Malaysia. (This deposit can only be withdrawn at the end of the validity of the Long-Term Social Visit Pass).
Individual Applicant : Savings RM100,00 and above
Duo Applicant Couples : Savings RM150,000.00 and above
Or
Individual Applicant : Monthly income RM7,000.00 and above
Duo Applicant Couples : Monthly income RM10,000.00 and above
(Pendapatan bulanan mesti datang dari wang persaraan, upah atau lain-lain pendapatan tetap)
(Monthly income must be derived from retirement funds, wages or other fixed incomes)
Pengeluaran Pas Lawatan Sosial:
Tempoh kelulusan adalah untuk 5 tahun dan boleh dilanjutkan sehingga 5 tahun lagi. Walaubagaimanapun, Pas Lawatan Sosial ini boleh juga dilanjutkan dari setahun ke setahun. Peserta-peserta program ini akan dikeluarkan Multiple Entry Visa.
Issuance of Social Visit Pass
Initial validity of the Pass is for 5 years, and can be extended for a further 5 years therafter. However, extensions to this Pass is made on a yearly basis (i.e. annual renewal for 1 year after the first 5 years). Participants of this program will be issued a multiple entry visa.
Penaja:
Keperluan mendapatkan penaja boleh diberi kelonggaran jika dapat dibuktikan bahawa peserta tersebut adalah tulin dan tiada penipuan di sebalik latar belakang hidup, kedudukan kewangan dan gaya hidup. Peserta-peserta boleh juga mendapatkan perkhidmatan dari syarikat-syarikat yang mendapat kelulusan dari Jabatan Imigresen Malaysia sebagai penaja.
Sponsor:
The necessity of a sponsor may be relaxed if the applicant can prove that he/she has genuine interest in the program and has no record of fraudulent lifestyle, financial standing and lifestyle. Participants may also engage professional help from relevant companies that deal with the Malaysian Immigration Department on sponsorship matters for this programme.
Cara Permohonan Dikemukakan
Permohonan yang telah lengkap perlu dikemukakan ke:
Ibu Pejabat Imigresen Malaysia,
Aras 4, Blok I (Utara),
Pusat Bandar Damansara
50550 Kuala Lumpur
atau di pejabat Perwakilan Malaysia di luar negara.
Bagi Sabah dan Sarawak, permohonan boleh dikemukakan di
Pejabat Imigresen Negeri Sabah dan Sarawak.
How to apply:
Completed applications must be submitted to:
Malaysian Immigration Head Office,
Aras 4, Blok I (Utara),
Pusat Bandar Damansara,
50550 Kuala Lumpur
or at any Malaysian mission overseas.
For Sabah and Sarawak (East Malaysia on Borneo island), applications can be submitted to the Sabah State Immigration Department or Sarawak State Immigration Department respectively.
Borang-borang dan lampiran:
Forms and documents:
Surat permohonan dari pemohon
Letter of application from applicant.
2 keping borang permohonan Pas Lawatan Sosial - IMM.12- Borang Permohonan Pas Lawatan
2 copies of the Social Visit Pass application form IMM.12
2 keping gambar berukuran passport bagi pemohon dan pasangan (jika ada)
2 passport-sized photographs for the applicant. If married, 2 passport sized photographs for spouse as well.
Salinan passport/dokumen perjalanan bagi pemohon serta pasangan (jika ada)
Photocopies of passport or travel document for applicant and spouse (if any).
Sijil Nikah (jika ditemani pasangan)
Marriage certificate (if spouse is accompanying applicant)
Salinan Penyata Bank yang disahkan
Certified copy of bank account statement.
Salinan Polisi Insuran Perubatan dan Laporan perubatan dari Malaysia yang disahkan
Certified copy of medical insurance policy and Malaysian medical report
Lain-lain dokumen yang berkaitan
Other required documents
Yuran:
Yuran yang dikenakan adalah RM90.00 bagi satu (1) tahun
Fees:
90 Malaysian ringgit for 1 year.
Feb 15th 2004, 2:25 am
#6
Just Joined
Joined: Aug 2003
Posts: 20
Terima kasih banyak.
Malaysia would be a good choice, as it's a happy medium between regimented Singapore and anarchic Bangkok.
Malaysia would be a good choice, as it's a happy medium between regimented Singapore and anarchic Bangkok.
Feb 16th 2004, 9:30 am
#7
Ex Mod (2002-2005)
Joined: May 2002
Location: NSW
Posts: 5,464
Originally posted by Pommy Expat
Terima kasih banyak.
Malaysia would be a good choice, as it's a happy medium between regimented Singapore and anarchic Bangkok.
Terima kasih banyak.
Malaysia would be a good choice, as it's a happy medium between regimented Singapore and anarchic Bangkok.
Malaysia will remain a viable choice so long as its alleged nuclear proliferation capabilities do not invite American intervention!
Peter
Feb 17th 2004, 1:44 pm
#8
Just Joined
Joined: Feb 2004
Location: Washington State / Malaysia
Posts: 25
It will be a long, long, long while before that happens, Peter.
Malaysia is no where near the league of countries that have nuclear proliferation capabilities. I give this opinion as a Malaysian who worked closely with the think-tank of the Malaysian Defence Ministry for many years.
Malaysia is truly one of the most peaceful and safest countries to live in Asia. Anyone needing further information about living in Malaysia, please feel free to message me and I will try to provide or steer you towards reliable sources.
Malaysia is no where near the league of countries that have nuclear proliferation capabilities. I give this opinion as a Malaysian who worked closely with the think-tank of the Malaysian Defence Ministry for many years.
Malaysia is truly one of the most peaceful and safest countries to live in Asia. Anyone needing further information about living in Malaysia, please feel free to message me and I will try to provide or steer you towards reliable sources.
Feb 17th 2004, 6:37 pm
#9
BE Forum Addict
Joined: Dec 2003
Location: Gold Coast Hinterland
Posts: 2,359
Malayasia is an attractive option for retirement - but what happens after 10 years, after that particular visa runs out?
Lesley
Lesley
Feb 17th 2004, 9:02 pm
#10
Just Joined
Joined: Feb 2004
Location: Washington State / Malaysia
Posts: 25
You can apply for an extension if you want to continue with the program. This is usually approved within 14 working days.
Here is a link to the official website.
http://www.imi.gov.my/framenewbi.htm
Here is a link to the official website.
http://www.imi.gov.my/framenewbi.htm
Originally posted by lesleys
Malayasia is an attractive option for retirement - but what happens after 10 years, after that particular visa runs out?
Lesley
Malayasia is an attractive option for retirement - but what happens after 10 years, after that particular visa runs out?
Lesley
Feb 18th 2004, 9:45 am
#11
Forum Regular
Joined: Apr 2003
Location: Singapore
Posts: 216
Originally posted by ElusiveSongbird
It will be a long, long, long while before that happens, Peter.
Malaysia is no where near the league of countries that have nuclear proliferation capabilities. I give this opinion as a Malaysian who worked closely with the think-tank of the Malaysian Defence Ministry for many years.
Malaysia is truly one of the most peaceful and safest countries to live in Asia. Anyone needing further information about living in Malaysia, please feel free to message me and I will try to provide or steer you towards reliable sources.
It will be a long, long, long while before that happens, Peter.
Malaysia is no where near the league of countries that have nuclear proliferation capabilities. I give this opinion as a Malaysian who worked closely with the think-tank of the Malaysian Defence Ministry for many years.
Malaysia is truly one of the most peaceful and safest countries to live in Asia. Anyone needing further information about living in Malaysia, please feel free to message me and I will try to provide or steer you towards reliable sources.
ElusiveSongbird,
Yep! I have to agree with you!
Malaysia does offer a very attractive retirement option.
I live in Hong Kong, been here for many years and can't quite face leaving Asia.......just love it!
Malaysia would be a pretty good place to consider for an 'early' retirement due to the following personal reasons:
1). Relatively affordable.......hence the 'early' word.
2). There is a proper and Legal visa system which is all above board and administered by the Government.
3). You can purchase freehold property in Malaysia.
4). The food is wonderful!
5). The country is lovely, loads to do, people are generally nice and freindly.
6). Communications and International air travel is good and I can get back to both Hong Kong, Europe and Australia easily.
There are many more reasons, the only slightly negative thing would be the constant heat.......but then again I have got used to that in Hong Kong!
Do you have any advice about where to buy a nice bungalow style property?
Cheers
Feb 18th 2004, 11:11 am
#12
Just Joined
Joined: Feb 2004
Location: London
Posts: 2
Malaysia My Second Home
Having been brought up in Malaysia, I am interested in the second home programme.
One of the conditions is to have a MYR deposit account in Malaysia. Does this have to be a 'Malaysian' bank, or could it be a Malaysian branch of an overseas bank.
Could anybody recommend a suitable bank?
many thanks in anticipation
Nigel
One of the conditions is to have a MYR deposit account in Malaysia. Does this have to be a 'Malaysian' bank, or could it be a Malaysian branch of an overseas bank.
Could anybody recommend a suitable bank?
many thanks in anticipation
Nigel
Feb 18th 2004, 12:31 pm
#13
Just Joined
Joined: Feb 2004
Location: Washington State / Malaysia
Posts: 25
Originally posted by paddythepilot
------------------------------------------------------------------------------------
ElusiveSongbird,
Yep! I have to agree with you!
Malaysia does offer a very attractive retirement option.
I live in Hong Kong, been here for many years and can't quite face leaving Asia.......just love it!
Malaysia would be a pretty good place to consider for an 'early' retirement due to the following personal reasons:
1). Relatively affordable.......hence the 'early' word.
2). There is a proper and Legal visa system which is all above board and administered by the Government.
3). You can purchase freehold property in Malaysia.
4). The food is wonderful!
5). The country is lovely, loads to do, people are generally nice and freindly.
6). Communications and International air travel is good and I can get back to both Hong Kong, Europe and Australia easily.
There are many more reasons, the only slightly negative thing would be the constant heat.......but then again I have got used to that in Hong Kong!
Do you have any advice about where to buy a nice bungalow style property?
Cheers
------------------------------------------------------------------------------------
ElusiveSongbird,
Yep! I have to agree with you!
Malaysia does offer a very attractive retirement option.
I live in Hong Kong, been here for many years and can't quite face leaving Asia.......just love it!
Malaysia would be a pretty good place to consider for an 'early' retirement due to the following personal reasons:
1). Relatively affordable.......hence the 'early' word.
2). There is a proper and Legal visa system which is all above board and administered by the Government.
3). You can purchase freehold property in Malaysia.
4). The food is wonderful!
5). The country is lovely, loads to do, people are generally nice and freindly.
6). Communications and International air travel is good and I can get back to both Hong Kong, Europe and Australia easily.
There are many more reasons, the only slightly negative thing would be the constant heat.......but then again I have got used to that in Hong Kong!
Do you have any advice about where to buy a nice bungalow style property?
Cheers
Hi Paddy,
I worked in Hong Kong in the mid-90s and didn't like it at first, but adapted sufficiently to stay for 2 years. Life there is at a much faster pace than Malaysia and I actually missed that for a while when I went home.
I need more details to recommend property locations for you ....... where in Malaysia? city or suburbs? residential or townships? preferred lifestyle? choice of amenities? vicinity? size of house? size of garden? style? ......... as Malaysia is multi-racial, community is another important factor.
Kuala Lumpur and neighbouring towns have nice bungalows within the city as well as in and around suburbs. You will be spoilt for choices even after shortlisting your priorities.
Rita
Feb 18th 2004, 1:20 pm
#14
Forum Regular
Joined: Apr 2003
Location: Singapore
Posts: 216
Originally posted by ElusiveSongbird
_______________
Hi Paddy,
I worked in Hong Kong in the mid-90s and didn't like it at first, but adapted sufficiently to stay for 2 years. Life there is at a much faster pace than Malaysia and I actually missed that for a while when I went home.
I need more details to recommend property locations for you ....... where in Malaysia? city or suburbs? residential or townships? preferred lifestyle? choice of amenities? vicinity? size of house? size of garden? style? ......... as Malaysia is multi-racial, community is another important factor.
Kuala Lumpur and neighbouring towns have nice bungalows within the city as well as in and around suburbs. You will be spoilt for choices even after shortlisting your priorities.
Rita
_______________
Hi Paddy,
I worked in Hong Kong in the mid-90s and didn't like it at first, but adapted sufficiently to stay for 2 years. Life there is at a much faster pace than Malaysia and I actually missed that for a while when I went home.
I need more details to recommend property locations for you ....... where in Malaysia? city or suburbs? residential or townships? preferred lifestyle? choice of amenities? vicinity? size of house? size of garden? style? ......... as Malaysia is multi-racial, community is another important factor.
Kuala Lumpur and neighbouring towns have nice bungalows within the city as well as in and around suburbs. You will be spoilt for choices even after shortlisting your priorities.
Rita
Rita,
Many thanks for your reply!
Suddenly many people are interested in Malaysia!
So it seems I have many options in terms of location to buy a bungalow. To be honest, I don't know what I want at this stage, so maybe the best thing would be to head down there......hire a car and just explore!
In my 'ideal dream world', my bungalow would be in West Malaysia, close to the sea, (for scuba diving), still close enough to KL for the action, (restaraunts, hotels airport etc).
I would prefer a place of around 2,000 Sq Ft with a small garden.......a swimming pool would be nice! I would consider a new township maybe?
Being a 'Gwailo' I guess I'd better be close to a few other expats, but not exculsively so because I don't live my life like that.........I have many 'local' Chinese freinds here in HK and around the world!
Any views?
Cheers
Feb 18th 2004, 1:26 pm
#15
Just Joined
Joined: Feb 2004
Location: Washington State / Malaysia
Posts: 25
Re: Malaysia My Second Home
Originally posted by mlegin
Having been brought up in Malaysia, I am interested in the second home programme.
One of the conditions is to have a MYR deposit account in Malaysia. Does this have to be a 'Malaysian' bank, or could it be a Malaysian branch of an overseas bank.
Could anybody recommend a suitable bank?
many thanks in anticipation
Nigel
Having been brought up in Malaysia, I am interested in the second home programme.
One of the conditions is to have a MYR deposit account in Malaysia. Does this have to be a 'Malaysian' bank, or could it be a Malaysian branch of an overseas bank.
Could anybody recommend a suitable bank?
many thanks in anticipation
Nigel
Hi Nigel,
If the specification is 'Malaysian bank', it has be a Malaysian bank. Otherwise, the term used will be 'local bank'.
The programme is likely to have a list of preferred banks or banking partners offering special rates and/or facilities - you should select one of them. If not, the 3 major banks are Malayan Banking Berhad (largest), RHB Bankd and Public Bank.
I highly recommend RHB as I have yet to be disappointed by them in 18 years. Their branches are well located throughout Malaysia with a fast personal banking system and excellent service. The longest time I have had to queue is 15 minutes. Even now that I am living in the USA and banking online with them (for a year) I have not had any problems, plus they mail my monthly statements here at no charge and on time!
Malayan Banking branches are much more well spread but notorious for long queues, slow service and inefficient attention to problems. Public Bank has limited branches but their service is also highly ranked.
Here is the website for RHB ..... http://www.rhbbank.com.my
Rita