InFlagranteDelicto

Hello All,
My MM2H visa is in process and expecting it to be approved by June this year assuming it all goes well.
Just wanted to know what needs to be done after approval.
I know I have to set foot in Malaysia within 6 months of approval, but wanted to check what needs to be done on that visit. We will stay in Penang.
What is the best way to fund the FD? Is just bringing a check from a foreign bank the best way? I know there are horror stories about organizing transfers from overseas.
Is check the best way?
Regarding medical check, any recommendations on where to get this done? Will any hospital do a MM2H medical check?
Regarding insurance, can I organize that on that visit, or better to do that remotely before we get there?
Any advice welcome.

Gunnar45

Hi IFD,
Regarding FD, best to do it a branch in the city where you plan to live in Malaysia.
Regarding how to transfer, you would of course first need to open an account here and then transfer.
With the approval letter it should be easy to open an account, you could legally bring (per individual) the equivalent of USD 10k in cash and change in a bureau here (they give better rates than the banks) and deposit that to start with. You may need an address in MY if you want to open an account.

Maybe you can 'prepare' your home bank before you leave so that they can transfer the remaining money swiftly upon notice from you once you set up the account in MY?
I wouldn't recommend bringing a cheque as the clearing will take long time.
As for bank, I am happy with CIMB and find they give good interest rates. And being a CIMB preferred customers (as you will become with a 500k FD) you get airport lounge access in many S-E Asian airports. (Check 'CIMB Preferred' on CIMB website)

Medical check can be done at any registered clinic, just make sure you bring the correct form, I think it was recently updated.
I will try to send you the one I used for my recent renewal by pm.

As for insurance, it must be valid in Malaysia but no need if you are 60+.
Don't know if it is best to have a Malaysian insurance, but I would assume it is the easiest as they know what is required.
Here an older thread on the topic:
Cheapest Medical Insurance

I would assume you obtain the insurance from remote as well.

Good luck!

eCdD

What is the best way to fund the FD? Is just bringing a check from a foreign bank the best way? I know there are horror stories about organizing transfers from overseas. -> Cash is king. Bring the maximum per person (value of 10000 USD) and exchange at Malaysias best moneychangers in MidValley. Only suitable of cause if your home currency is USD or EUR or something similar popular. You also can bring more tahn 10000, but then you need to declare (when exiting the EU and entering MY). After you have set up your bank account you can use Transferwise for the rest.

Regarding medical check, any recommendations on where to get this done? Will any hospital do a MM2H medical check -> Hospital will be very expensive, go to a clinic and you can get it under 50 RM per person easily. Don´t forget your vaccination book, if you did not get your Twinrix shots at home and your health insurance does not pay it, do it in Malaysia, it is much cheaper. Yes, any clinic can do.

Regarding insurance, can I organize that on that visit, or better to do that remotely before we get there? -> You cannot do this from abroad. But it is very easy, visit the candidates you researched before and make a decision. You will immediately get the letter from the insurance for MM2H. You can use the medical check for MM2H for the insurance as well.

Edit: Oh, I did not see, Gunnar has answered more or less the same already. Yes, CIMB is probably the best choice.

stepen

Just adding that you can use any insurance, a also a foreign one (as long as it cover Malaysia).

bakedbean

Don't think you would get a cheque in Malaysian ringgits. Gunnar's advice is the way to go.

InVinoVeritas

Unfortunately health insurance is not very well covered in this forum and yet it is essential for anyone intending to live in Malaysia.

Whether or not you plan to live in Malaysia immediately or in a couple of years it pays to take out such insurance sooner rather than later. There are special plans (ie cheap) for Malaysian residents and MM2H is considered by most insurers here as evidence of residence in Malaysia.

The most popular plans are investment-linked as in this way the premiums are flat (ie do not increase with age). It pays to apply early because even the flat premiums go up substantially with age. Obviously there can be loadings for prior conditions and, again, the longer one leaves it, the more likely there will be such conditions to disclose on application.

Finally, in case you weren't aware, health insurance is usually referred to as "medical card" in Malaysia so this is what you need to search for in Google. Also it does not cover visits to the doctor or prescriptions; it revolves entirely around hospitalisation and the period before and after. For this reason a 1 night hospital stay is often considered helpful by all concerned.

WiredTight

"1 night hospital stay is often considered helpful by all concerned."
Hmmmmm.... A few months back, I had a lingering cough/flu and went to Penang Hospital for a prescription/checkup. After a 5 minute consult, the doctor recommended a 1 night stay.
I politely thank the doctor for his service, and instead excepted some pills and throat spray. I was significantly better the next day. The $30 fee wasn't enough that I wanted to fill out any insurance paper work, and just payed cash. The next time I catch the flu, I will forgo the 1 week of over the counter meds, and just go with a doctor visit.

eCdD

I would not go to a hospital with a minor issue. Yes, it is not a big discussion to stay there for one night to fulfill the criteria of the insurance.

But the visit to a clinic is usually RM 30 to max 50, it is fast and efficient, so no reason for me to stay in hospital.

kiat137

Few advice for you:
Bank account:
- Get your current banker to ready the transfer bank in your country
- Make sure the Malaysia banker done MM2H participant before because they need to know how to prepare the cover letter to MM2H department.

Medical Checkup
- Any legal clinic will do

Insurance
- If your existing home country insurance cover Malaysia, you just bring the policies to show
- Otherwise just but a suitable medical insurance for yourself.

Make sure every documents are ready and queue up early in MM2H Center.

shoban1508

If you have a HSBC premier account things are very easy