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non renewal of MM2H Visa

non renewal of MM2H Visa

Old Jun 22nd 2016, 3:32 am
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Default non renewal of MM2H Visa

Hi Guys

I have just been speaking to someone who told me knows of 2 people who tried to renew their MM2H Visa's (after 10 years) and were declined

Apparently they not political people, never been in trouble and have ample amounts of money

Does anyone know of similar cases, are they closing down MM2H slowly

Regards

Chris
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Old Jun 22nd 2016, 4:12 am
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Default Re: non renewal of MM2H Visa

Originally Posted by Chris1855
Hi Guys

I have just been speaking to someone who told me knows of 2 people who tried to renew their MM2H Visa's (after 10 years) and were declined

Apparently they not political people, never been in trouble and have ample amounts of money

Does anyone know of similar cases, are they closing down MM2H slowly

Regards

Chris

What is the reason of the refusal?
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Old Jun 22nd 2016, 4:42 am
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Default Re: non renewal of MM2H Visa

I don't believe any reason was given. They have the right to refuse and not discuss it
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Old Jun 22nd 2016, 8:35 am
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Default Re: non renewal of MM2H Visa

Just a guess: could it be that those people did not have a regular income stream (e.g. monthly pension)? One of the requirements, according to the MM2H website, is "Current Proof Of 3 Month Offshore Income RM10,000 And Above".
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Old Jun 22nd 2016, 10:25 am
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Default Re: non renewal of MM2H Visa

I would need to check on the income stream, you would expect that to be irrelevant if you have many millions in cash sitting in the bank
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Old Jun 22nd 2016, 10:48 am
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Default Re: non renewal of MM2H Visa

With 'many millions in the bank', the dividends/interests should depending of course the currency, reach the required amount.
But I wonder about the requirement specifying 'offshore income'.
What if the millions are brought into Malaysia and generate interest here?
That income would not be offshore....
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Old Jun 23rd 2016, 9:32 am
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Default Re: non renewal of MM2H Visa

When I applied for MM2H in 2015 was I told in clear wording by the MM2H agency that income stream from dividends and interest do not count. You can have multiple millions in GBP, USD or Euro in the bank and being refused MM2H.
They want to see an income stream coming from conventional sources such as paid labour (i.e. a job) or a guaranteed pension plan. I have the impression that they are not yet as flexible in recognizing other forms of income.
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Old Jun 23rd 2016, 9:33 am
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Default Re: non renewal of MM2H Visa

Originally Posted by Gunnar45
But I wonder about the requirement specifying 'offshore income'.
The assumption is that an MM2H-er is not allowed to work in Malaysia and therefore cannot have an income stream in Malaysia. So any kind of income stream is offshore.
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Old Jun 23rd 2016, 9:38 am
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Default Re: non renewal of MM2H Visa

As we were talking about a visa renewal being rejected and not an initial MM2H application and because a MM2H visa holder is allowed to hold bank accounts and other investments in Malaysia, I would assume that an income stream from Malaysia is not something unusual.
Therefore I was a bit doubtful whether the wording 'offshore' really was cast in stone.

Last edited by Gunnar45; Jun 23rd 2016 at 10:29 am.
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Old Jun 23rd 2016, 10:13 am
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Default Re: non renewal of MM2H Visa

Originally Posted by SushiFan
When I applied for MM2H in 2015 was I told in clear wording by the MM2H agency that income stream from dividends and interest do not count. You can have multiple millions in GBP, USD or Euro in the bank and being refused MM2H.
They want to see an income stream coming from conventional sources such as paid labour (i.e. a job) or a guaranteed pension plan. I have the impression that they are not yet as flexible in recognizing other forms of income.
Then that agency was incorrect. You can have an income stream from interest. Ask Alter Domus.
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Old Jun 23rd 2016, 10:14 am
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Default Re: non renewal of MM2H Visa

Originally Posted by SushiFan
When I applied for MM2H in 2015 was I told in clear wording by the MM2H agency that income stream from dividends and interest do not count. You can have multiple millions in GBP, USD or Euro in the bank and being refused MM2H.
They want to see an income stream coming from conventional sources such as paid labour (i.e. a job) or a guaranteed pension plan. I have the impression that they are not yet as flexible in recognizing other forms of income.
I believe these things are reviewed by the Mm2H/Immigration officers on a case-by-case basis, especially where the applicant’s income streams are not the conventional overseas salary, pension income or property rental income. Even more careful scrutiny (and unstated criteria) may apply where the MM2H’ers do not come from the most desirable countries for immigrants (in the eyes of Malaysia).

I am only guessing, but suspect some MM2H applicants may have tried to ‘game the system’ i.e. demonstrating they meet the MM2H monthly income and liquid asset requirements by pooling, borrowing, and/or moving money around between family and friends, and applying for MM2H separately over a period of time. Some recent tightening up of the rules suggests this problem exists.

My understanding was that MM2H’ers were not required to re-prove their income on expiry and renewal of their first 10 year MM2H pass, but perhaps this has now changed?

It would be interesting to know the nationality of the MM2H’ers who had their renewal application rejected, and whether there was a significant change in income streams between their first application and the renewal application. For example, salaried employee on first application, but only investment dividend income on renewal.

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Old Jun 23rd 2016, 10:37 am
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Default Re: non renewal of MM2H Visa

JC3,
Yes, the rules have changed, it happened a few years ago.
Originally it was only required to prove income at the first visa application (if the application was made based on the FD option), but now also income has to be shown regardless of under which option the visa was granted.
I also confirmed this with the agent I used.
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Old Jun 23rd 2016, 7:18 pm
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Default Re: non renewal of MM2H Visa

Brits who use UK pensions as their income-stream may suffer when the value of the pound deflates.... given a brexit exodus.

I simply cannot imagine Malaysia giving-up on an MM2Hr who genuinely stayed in Malaysia, contributing to the economy and not having cheated in the first acceptance.... being rejected.
It doesn't make sense and, as Judge Judy always says, If it doesn't make sense....it isn't true...
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Old Jun 24th 2016, 8:43 am
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Default Re: non renewal of MM2H Visa

Originally Posted by SushiFan
When I applied for MM2H in 2015 was I told in clear wording by the MM2H agency that income stream from dividends and interest do not count. You can have multiple millions in GBP, USD or Euro in the bank and being refused MM2H. They want to see an income stream coming from conventional sources such as paid labour (i.e. a job) or a guaranteed pension plan. I have the impression that they are not yet as flexible in recognizing other forms of income.
We can repeat this Yes/No with any new post about this topic

I got my information not from a greedy agent but directly in theMM2H center Putrajaya. The counted together all my dividend and interest income because my "income stream coming from conventional sources such as paid labour (i.e. a job) or a guaranteed pension plan" would have not met the criteria.

Also I would be careful with any information from "someone who told me knows of 2 people".
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Old Jun 24th 2016, 9:16 am
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Default Re: non renewal of MM2H Visa

I am asking for further information on this to see if there was an ulterior reason why their Visa's were unable to be renewed.
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