assimafzal

Good day RED,
It is really heartifying to read your point to point composite answers. So thnx again. And by the way, how is the weather in Kuching today, rainy may be?

I get it, when you say that 'It is not a check in Account". It means that I should have a couple of thousand Rm in another check-in account , on top of the FD that I already have. And e.g when I get a healthcare bill, I should pay it to the hospital/doctor etc. through cash and then get it reimbursed from my FD after immigration authorities approval(90,000 cash reimbursement only if i am buying property,i.e in Kuching, Sibu, or Miri).

How about your Pension ? Are you free to use it? as and when , on whatever expenses that you like, even send it back home.

And as you have clarified ,'hassle of banks' just means ' more charges etc due to changing market scenerios' but no problem in maintaining a check-in account in any bank.

Oh, also one more thing before i logout, same rule applies for buying a local car. That the car to be bought should be brought to immigration notice -------get their approval and then pay money from FD. (that would be only if the seller can wait that long.)

And I fully agree with your opinion regarding ,sarawakians learning english language and the people they need in this field.

Ok, I need to log out now,

Regards,
Assim

RedApe

I do have a correction in my earlier statement. IF you can show the Tourism Office that you have an upcoming authorized expense you may be able to take it out in advance and use it for paying the bill. Thus school tuition costs, or an upcoming property purchase you could likely submit in advance, and get the letter for the bank to allow withdrawal immediately. Health care expenses might be less predictable.

"All existing participants are required to obtain PRIOR approval from the Ministry of Tourism by submitting a letter of application and supporting documents to show proof of his/her intention including details of the purchase of house, education for children in Malaysia and medical purposes. Existing participants who have ALREADY purchased houses can also apply to withdraw their FD to settle their existing housing loans.
The Ministry of Tourism will issue a letter to the participant’s bank to confirm his/her eligibility to withdraw the said amount.
It is mandatory for all existing participants who are complying with the FD requirement to maintain the minimum FD amount in their FD accounts from the second year onwards and throughout their stay in Malaysia under this programme; which is RM60,000."

Pensions can be deposited in your home country bank or in Malaysia. They just want to see proof that you are receiving the pension. I have mine deposited in my home country and then will transfer whatever I need into my local account. Foreign income (including pensions) are not taxed by Malaysia. Some home countries may not tax a pension if there us a tax agreement with Malaysia and it is deposited abroad, and you become a tax-resident abroad. Since Malaysia doesn't tax a pension...no taxes. Seems strange, but that's the rule for countries like Germany.

The locally-built car tax discount and withdrawal is now defunct as of December 31 of last year. That was a Federal tax discount so it applied to Sarawak as well. So forget that. Now the only withdrawals you can make are for property purchase, health care, and childrens' education. Maybe down the road Sarawak will expand these.