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Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)

Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)

Old Jan 14th 2019, 3:55 am
  #241  
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Default Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)

Probably a dumb question: Q14 on IM.12 says Visa Requirement. Should I tick that box? LTSVP is not strictly a visa, so I was thinking maybe that question relates to the need to get a visa outside of Malaysia before entering to get the stamp - the Journey Performed. I'm a Commonwealth citizen so I don't need to do that.

I can't think of any other reason why anyone filling in the form would not need a visa.

Last edited by Epicurious; Jan 14th 2019 at 4:05 am.
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Old Jan 14th 2019, 9:39 am
  #242  
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Default Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)

Originally Posted by Epicurious View Post
Probably a dumb question: Q14 on IM.12 says Visa Requirement. Should I tick that box? LTSVP is not strictly a visa, so I was thinking maybe that question relates to the need to get a visa outside of Malaysia before entering to get the stamp - the Journey Performed. I'm a Commonwealth citizen so I don't need to do that.

I can't think of any other reason why anyone filling in the form would not need a visa.
That's a head-scratcher. Can you leave it blank, then ask at Immigration, pointing out that you are from a Commonwealth State. Is the question retrospective...i.e. did you need a visa to apply for the MM2H Visa. Or is it prospective.

You might copy and show them this, as well.

https://www.imi.gov.my/index.php/en/...y-country.html

I think you should ask and that might be a good time to remind them that citizens from Commonwealth Member states are not supposed to require the Journey-Performed fee.

Last edited by RedApe; Jan 14th 2019 at 9:53 am.
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Old Mar 8th 2019, 7:09 am
  #243  
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Default Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)

Peninsular MM2H has just issued a set of clarifications regarding their regulations that might be useful for new applicants or reapplicants.

Announcements - Year 2019 - NEW REQUIREMENTS FOR MM2H APPLICATION

Announcements - Year 2019 - NEW REQUIREMENTS FOR WITHDRAWAL OF FIXED DEPOSIT

Not much has changed. Some interesting information about the documentation needed fo proof of income and the share that may be provided from a spousal income.
There seems to be a new element allowing withdrawal of money from the FD to purchase a new or second-hand car, medical check-ups and pharmaceuticals from a pharmacy. FD application materials must be submitted directly, not by email. And for future applicants there is some info about the requisite "Letter of Good Conduct". It took effect 4 March...nothing like letting people know ahead of time!
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Old Mar 8th 2019, 8:23 am
  #244  
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Default Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)

Originally Posted by RedApe View Post
Some interesting information about the documentation needed for proof of income and the share that may be provided from a spousal income.
What I find interesting about the income requirement is that you are not allowed to provide a "blend of income sources". It is not possible to use a combination of salary plus rental income. For example: you can't say that RM7k comes from salary, plus RM3K comes from rental income, to arrive at the total required of RM10k per month.

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Old Mar 8th 2019, 10:06 am
  #245  
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Default Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)

I actually know someone that is a Board Member of several companies that receives stock options, has significant real property rental income, etc. He receives minimal amounts for serving on the Board, a salary of $1 plus per diem (hotels, transport, meals, other niceties...plus lots of company related perks). He "might" make $2500/month from "income". Now he could declare he is "retired", but he really isn't.

I recall that Donald Trump's only tax-return indicated he received a salary of $6000/year (interestingly putting him in the "no tax" bracket) back in 1994...everything he received was written off as business expenses drawn from the company...Mar-A-Lago plus one other resort, his penthouse in Trump Tower, his limos/drivers, cooks, household staff, wardrobe, watches, jets, helicopter, meals, etc. etc. Donald was getting a barista salary, but all his expenses were paid by the corporation.
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Old Mar 8th 2019, 10:45 am
  #246  
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Default Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)

Very strange: "Applicant is required to submit a passport picture with BLUE background only."

Sad news also: "Commisioner of Oath is not allowed to validate (Certified True Copy) for any documents for MM2H application." That will increase the costs for applicants dramatically. Or at least if they don´t have very good negotiation skills
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Old Mar 10th 2019, 8:26 am
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Default Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)

I noticed there is a new(?) announcement "DISCONTINUATION OF THE REDUCTION OF FIXED DEPOSIT PLACEMENT BASED ON PROPERTY PURCHASE AND MM2H APPROVAL BY GOVERNMENT PENSION".

It states that "Also discontinued is the MM2H approval by government pension for MM2H applicants aged 50 years and above. This means all MM2H new participants must place Fixed Deposits to join this programme. This does not apply to existing MM2H participants who were approved under government pension."

Does this mean that those 50years and above need only place FD and not required to show offshore income of Rm10K per mth?
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Old Mar 10th 2019, 8:39 am
  #248  
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Default Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)

I am glad I got our MM2H submitted back the 1st week of January.
Blue background for pictures sounds ridiculous. People are going to have to find a place that does blue and it won't be easy.

Any idea if they are doing any approvals yet?

For me the longer the better. When does the 10 yr period actually start?

Thanks
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Old Mar 10th 2019, 8:53 am
  #249  
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Default Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)

Originally Posted by Tropic View Post
I noticed there is a new(?) announcement "DISCONTINUATION OF THE REDUCTION OF FIXED DEPOSIT PLACEMENT BASED ON PROPERTY PURCHASE AND MM2H APPROVAL BY GOVERNMENT PENSION".

It states that "Also discontinued is the MM2H approval by government pension for MM2H applicants aged 50 years and above. This means all MM2H new participants must place Fixed Deposits to join this programme. This does not apply to existing MM2H participants who were approved under government pension."

Does this mean that those 50years and above need only place FD and not required to show offshore income of Rm10K per mth?
New applicants need both: and need to show RM10k income and need to place FD.
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Old Mar 10th 2019, 8:54 am
  #250  
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Default Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)

Originally Posted by meched55 View Post
For me the longer the better. When does the 10 yr period actually start?
The 10 year period starts on the date that they put the MM2H visa in your passport.
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Old Mar 10th 2019, 8:59 am
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Default Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)

Originally Posted by SushiFan View Post
New applicants need both: and need to show RM10k income and need to place FD.
But that is the current practice and nothing new. Or perhaps the new rule applies to retirees? Anyway I will call them to clarify.
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Old Mar 10th 2019, 9:16 am
  #252  
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Default Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)

Originally Posted by Tropic View Post
But that is the current practice and nothing new. Or perhaps the new rule applies to retirees? Anyway I will call them to clarify.
The change is that applicants can no longer use the special category of "government pension" any more.
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Old Mar 10th 2019, 9:54 am
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Default Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)

Originally Posted by SushiFan View Post
The change is that applicants can no longer use the special category of "government pension" any more.
Oh I see. Thanks!
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Old Mar 11th 2019, 12:34 pm
  #254  
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Smile Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)

Some news today!
MM2H: Task force ditubuhkan bagi licinkan permohonan https://www.sinarharian.com.my/article/14910

Translated summary by my agent.

1. Tourism Ministry create special a task force to handle MM2H application.
2. The task force will start in March 19 and ends July 2019. Within that 4 months period they hope to finalize total of 3,727 applications.
3. Immigration & Police Depts. will involve.
4. So far 894 applications has been submitted to Mins of Home Affairs for approval.
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Old Mar 11th 2019, 8:41 pm
  #255  
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Default Re: Retiring in Malaysia - Malaysia My Second Home Visa (MM2H)

From newspaper Straits Times 4-Mar-2019

KL tightens checks for popular expat retirement programme

Malaysia has introduced tighter background checks for a popular programme that allows wealthy foreigners to live in the country on 10-year visas. Nearly 4,000 applicants to the Malaysia My Second Home (MM2H) programme have been left in the lurch since September as their applications have stalled. Previously, applications were usually processed within two months. Set up in 2002 to woo expatriates, the programme has approved the long-stay visas for more than 40,000
people from 131 countries. An average of 3,000 foreigners were granted long-stay visas in each of the last six years, according to the official MM2H website. To qualify, an applicant under 50 years old must have at least RM500,000 (S$166,000) in liquid assets and a monthly income of RM10,000. He or she must also open a Malaysian fixed deposit (FD) account of RM300,000.Those above 50 must have at least RM350,000 in liquid assets and open an FD account of RM150,000. The stricter process came about after approvals for the MM2H programme were placed under the Home Ministry. The Tourism Ministry handles other parts of the programme. "A letter of good conduct (for the applicant) has been a requirement since 2002, it acts as the first line of defence," a Police Special Branch official told The Straits Times. "But we are stricter now due to heightened security threats such as terrorism and (criminal) syndicates, and we wouldn't want these people to jeopardise public order."

The official did not elaborate but the Malaysian authorities regularly uncover crime syndicates involved in illegal casinos, betting games and financial scams led by foreign nationals. There are also worries over
money laundering, with foreign dirty cash parked in housing units. Tourism, Arts and Culture Minister Mohamaddin Ketapi last week announced the setting up of a task force comprising officials from immigration and the police force, to speed up the approval process for the backlogged applications. This followed complaints from the MM2H Agents Association, whose 235-member companies assist foreigners in applying for long-term visas. "We hope that with this task force, we will be able to resolve all 3,727 applications in four months," Datuk Mohamaddin said in a written reply to questions from The Straits Times. "This vetting process needs to be done carefully because it involves security," he added. The waiting applicants are mainly from China, Japan, South Korea, Bangladesh, India and Britain. MM2H Agents Association president Lim Kok Sai said Malaysia could lose up to RM1 billion a year from the
influx of cash, due to the delay in approvals. Successful applicants typically buy holiday homes in Malaysia, but are not required to spend a minimum period of time in the country annually, unlike other foreign retirement schemes.

While the programme has been chugging along quietly for 16 years, it came under scrutiny last August when Prime Minister Mahathir Mohamad said Malaysia will not grant visas for foreigners to live in a Johor mega-project called Forest City. He said "that city that is going to be built cannot be sold to foreigners", adding: "We are not going to give visas for people to come and live here." Officials said issues linked to the sales of Forest City housing units are being looked into. It is unclear if what Tun Dr Mahathir said was linked to the ongoing delay in approvals for MM2H applicants. Mr Mohamaddin told The Straits Times that applications from China "still remain top in the list of numbers of applicants for MM2H".

According to figures from the MM2H website, a total of 9,902 participants from China were recorded between 2002 and August 2017 - or 28 per cent of the overall figure. Japan came in second, with 4,372 participants during the same period, and Bangladesh ranked third with 3,746. Expats from the United Kingdom and Northern Ireland came in fourth with a total of 2,499, while Korea came in fifth with 1,512. Iran took sixth position with 1,351 and Singapore followed with 1,346.

End of article.
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