shuff27

Hi All,

I was granted my visa in 2007 with a FD of RM300,000 as I was under 50 at the time. My family lived happily in Penang till 2011 when, unfortunately, we had to return to the UK for various reasons. While in Penang I was a fairly regular contributor to Scott's now defunct forum.

In 2008 I bought a house (since sold) using a withdrawal of RM240,000 from the FD. Since then I've maintained the remaining FD balance of RM60,000 with HSBC Malaysia.

My wife & I are now considering retiring to Malaysia next year, when we'll have 2 years remaining of our original 10 year visa.

Assuming that we'll wish to renew in 2017, does anyone know if we can do that with just our remaining RM60k FD or would we have to top it up back to RM300k; or indeed would any other different financial criteria apply?

Thanks for any help - I wouldn't be surprised if other long-term MM2Hers have already come up against this situation.

InVinoVeritas

Welcome to the forum, shuff27, there a several members from Scott's old forum on here. If you're now over 50 then the FD would be RM150K so you would only have to top up to this level. Given you have sold the property you purchased I don't see why you would be allowed to deposit less than this amount. I assume you're familiar with the income and health insurance requirements?

Davita

Although logical IVV are you sure about the above statement. I think I read somewhere that, once established at RM300,000 FD, an extension would be at that level even if qualified by age to be the lower level. I'm not sure but that sticks in my mind....best double check.

I was going to suggest cancelling the current MM2H and re-applying anew as it can now be done as DIY.

btw welcome shuff27.

bakedbean

Welcome Shuff.

Yes, I agree with Davita. That was always the case (though rules do change, as we all know).

If you are still under 50 (?) I'm very surprised that they let you reduce your FD to the level it is at. I think I would be inclined to keep quiet about it hehe.

It was always a bit of a bug-bear that those who had applied under 50 could not reduce their FDs. But maybe it's changed.

As far as I know, renewal is just renewal. You are not reapplying. So I think it's quite a straightforward matter.

I've been corresponding, and have visited, Alter Domus (agent) in Penang, about my "situation". It's different to yours. But just to say they have been very helpful so far. Just advised me what I have to do. No fees taken. And they have checked with the Ministry on one or two things. I will put a bigger write up in here when I actually re-do the visa.

Anyway, not the same situation as yours, but what I am saying is you might want to contact them, or see them when next visiting Penang, especially if you don't want to go down to Putrajaya. They do the whole thing for you. Sure there's a charge but you can mentally offset that against a journey (flights, hotel) to KL. But....up to you.

bakedbean

Yes, we are all here Off topic, but I ran into the ol' bugger a little while back. He looked really well. No forum stress I guess

columbine

We have done it after the original 5 year Visa and got 10 year after. All requirements remained as when we first got accepted and not with the new requirements. As BB said you are an Existing Participant and not a NEW Applicant. I showed them the Letter Of Approval for the withdrawal of the FD for the purchase of the property, the Bank Letter of RM60K Balance and they didn't ask for the RM10k proof of income as we applied using FD (which was not a requirement when we first applied)
There was a fairly big topic of discussion on this in the defunct Scott's forum and those of us who have Extended or Renewed our Visas have written about our experiences. One common factor is what ever Requirements we all applied under those have remained Constant at Renewal and Extension. Unfortunately, non of these were saved.
Hope this helps ;-)

InVinoVeritas

Probably best to contact them directly as the information on their website seems to suggest differently:-

Apply For Renewal - MM2H Official Portal

Doesn't even look like you can use an agent for the renewal.

columbine

The only extra thing is the RB11 form that was not on my list before.
The rest are the same.
We've always done it in person for Extension at Butterworth and PWTC (due to our different expiry dates on the 2 passports) before and Renewal at Putrajaya, all in person. But, I know of some that can go through certain agencies.
It seems there are always "exceptions'.

InVinoVeritas

It also states:-

Current Proof Of 3 Month Offshore Income RM10,000 And Above

columbine

Yes, it was there before but they never bothered and returned my print outs. Only needed the FD proof (balance) and returned my letter of withdrawal approval. My guess is it's all recorded in the computer.
We are waiting for our new passports (10 years this time) so will be in Putrajaya again in Jan when back in Pg. for Extension again.
So Shuff just go prepared when you make a trip there in 2 years or ask AD agent this trip here.

shuff27

Thanks for all the feedback.

I'm hoping that we'll be treated as columbine suggests, i.e. renewal criteria will be the same as at time of our application which was FD only & no monthly income requirement. I seem to recall this being covered on the old forum too but can't find any reference on the official gov MM2H site.

Although I'm now over 50 I don't intend to start drawing a pension income until I reach 60 in 2022; until then I expect to live off capital (savings).

I have the official letter authorising withdrawal of RM240k for the house purchase. Would the Putrajaya office know/care that I no longer own that house - who knows? Again, there's nothing on the official website that states you have to keep a house once purchased. I wouldn't object in principle to topping up the FD to its original level if that can't be avoided, especially as Malaysian savings interest rates are far more generous than in UK.

BTW, if we return next year we'll stay in KL (probably Mont Kiara) for at least the first 2 years as our youngest child would do his 6th form schooling there. After that, when it's just Darby & Joan, we may come back to Penang depending on how we like KL.

InVinoVeritas

As BB suggested it would be well worth talking to Roselind at Alter Domus in Penang and getting their advice. Look forward to seeing you in Penang, maybe, in a couple of years then.

eCdD

It will not work for you as you have left Malaysia already after four years, but for MM2H-Participants who stayed here for at least five years there is the chance for Permanent residence.

InVinoVeritas

First I've heard of it!

JC3

Me too. I don't think it is correct.
Joy Stay (one on the better MM2H agents) has this to say on its FAQ page:


Q5:
After joining this (MM2H) program, can I apply for Permanent Residency?


A:
Currently, our Immigration does not consider the period of stay under the MM2H Programme to fulfill the PR's requirement. Therefore, living in Malaysia under the MM2H Programme does not qualify you for the PR status in Malaysia.

JC3