MM2H - timing when to apply

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Oct 12th 2010 | 2:57 pm

#16

lastresort

Just Joined

Joined: Oct 2010

Posts: 29

Re: MM2H - timing when to apply

Can you choose any bank in Malaysia for the fixed deposit?

Oct 14th 2010 | 2:29 pm

#17

Strider24

BE Enthusiast

Joined: Sep 2010

Posts: 379

From: Malaysia Penang.

Re: MM2H - timing when to apply

Quote:

Originally Posted by lastresort

Can you choose any bank in Malaysia for the fixed deposit?

Not sure, but think it must be a Malaysian based bank. I found Public Bank to be most helpful.

Oct 19th 2010 | 3:25 am

#18

parker-waterman

Forum Regular

Joined: Apr 2010

Posts: 32

Re: MM2H - timing when to apply

You can choose any banks that is registered to operate in Malaysia. HSBC, Citibank, Standard Chartered, Maybank, CIMB etc. etc.

Oct 20th 2010 | 6:49 pm

#19

bakedbean

...............

Joined: Feb 2009

Posts: 17,625

From: Far North Queensland

bakedbean has a reputation beyond repute

Re: MM2H - timing when to apply

Quote:

Originally Posted by britishbull

But if you read down the page a bit you get the following which has OR between the deposit and the income...

Upon Approval : Aged 50 years and above

* Can either choose to:
- Open a fixed deposit account of RM150,000.00 ; OR
- Show proof of government approved pension funds of RM10,000

I can only tell you that we got our MM2H visa early this year and you needed to show either (a) pension funds of RM10K per month or (b) the fixed deposit route which meant showing offshore income (anywhere except Malaysia) of RM10K per month. We did Option (b) showing proof of income (NOT pension funds). This was accepted, then we had to do the Fixed Deposit(s).

It's not entirely straightforward for sure, and they mess about with the rules from time to time, so worth keeping close tabs on the government website and the my2home.info forum to keep up-to-date, if you are applying.