Malaysia My Second Home (MM2H)

Hi Hansson,

Thank you for your precious contribution 

All the best,
Bhavna

Great country. I like it

Thank you for this valuable information.
After approval for a 10 year visa, will have to apply again to all the requirement,  for the next 10 years
And what will happen if policy change during this time while I am in the country

Regards
Mmiki

I understand from my former Agent that it is just a renewal process and not a completely new application so I doubt that you will need to top up the Fixed Deposit amount. I believe that you could do the extension yourself rather than pay an Agent, but to be certain if I were you I would send your query to the MM2H HQ or to an Agent to ask them directly.

If you buy a property worth 1M  then how much will be the fixed deposit reduced to?

To get an accurate answer you would need to contact either MM2H themselves or an agent. I can only speak from my experience which was some years ago.

When I applied for MM2H, I had already bought several apartments and invested a total cash amount in purchasing those apartments of more than a million ringgit. None of the individual apartments cost more than a million but the total combined cash investment that I had made totaled more than a million. Since I was over 50 years old, I would normally have had to place RM150k into the fixed deposit. But because of my investment in property, I only had to place RM60k.

Please note that at that time, even if you deducted for medical and education over the years, all MM2H holders were required to maintain a minimum of RM60,000 in the fixed deposit at all times. So basically, because I had invested over a million, I was only required to maintain the minimum amount in fixed deposit. This was arranged by an agent, which is why I would contact one of the agents in the above list and pose that question to them.

Regards,
Hansson

Thanks Hansson, appreciate your reply. Would you know if there is a lock in period for the fixed deposit? Surely cant have the money blocked permanently.

What used to happen is that you weren't allowed to remove any of it for the first 12 months. Then after that you could remove some, but the control was quite strict and you'd need to get the proper authorization letter from the Ministry of Tourism to give to your bank otherwise your bank will not allow you to touch it.

If I am on the MM2H program, living in Malaysia, am I allowed to work on a consultancy basis for a company based in Singapore?  Does anyone know please?  Many thanks.

My post #7 gives some information on my experience on the FD discount. At the time I was told that it wasn't the cost of the property that was important but the amount of cash that I had invested in property. My total cash investment was more than RM1 million and that qualified me for the discount. However, that was some years ago and the rules may have changed.

For clarification you could contact either the MM2H Office directly or you could contact any of the many MM2H Agents to ask them for more details.

150k buddy and you can take back after 2 years

You are allowed to work part time in Malaysia, so you shouldn't have any issues on the Malaysian side. But I don't know how the Singapore authorities view this. Perhaps drop a question in the Singapore Forum?

When did they raise the amount to RM350,000, I remember the last I check and some websites still so the old amount as RM150,000. Tying up RM350,000 in a fixed deposit account would be deterrent to some people.

Yes you are absolutely right. I've asked Admin to revise those figures.

The figure of RM500,000 is the amount of liquid assets that below 50 years of age need to prove they have when they apply for the MM2H. This figure becomes RM350,000 if you are over 50 years of age.

And, if you have fully paid property of at least RM1 million then the Fixed Deposit is reduced to RM150,000 for under 50 year old and RM100,000 for over 50 years old.

When I applied for my MM2H I was only required to place RM60,000 into a Fixed Deposit. I was over 50 years of age and even though I hadn't bought a property of more than RM1 million in cash, I had bought several for less but the total of cash I had invested in them was more than a million so they only required me to place RM60k in FD which is much more reasonable.

Is the RM350K an amount you must show in liquid assets you must have, but it doesn't have to be placed into a Malaysian bank into a fixed deposit account. And would my retirement accounts  (which are liquid since I am retired and over 60) be sufficient?

Right now I'm on a spouse visa, and expect to remain in that status. But of course if something was to happen before I can get PR  (at least 5 years, more likely 10 or more from what I hear) I wouldn't be crazy about pulling  $100K out all at once to satisfy that requirement. It's a little scary the ways the requirements change drastically.

The liquid assets do not have to be placed in a Fixed Deposit. You just need to prove you have that money and it's in your name.

Thank you very much for your clarification, I feel much better about this now.

I'm seeking a a teaching post, are there any opportunities for me as an Algerian citizen?

You may get a better response if you open a new thread or place an ad in the jobs section of this Forum.

Will I be able to drive a vehicle with my South African drivers licence

Hi Mmiki9,

Probably the best way to check is to contact the Malaysian Embassy in South Africa as they will give you the accurate answer whereas MM2H Agents might give an inaccurate answer.

What I do know is that I was told that I could use my UK Driving License in Malaysia for about six months or so, but that I would eventually need to get a Malaysian Driving License. I never did apply for the Malaysian License, but I did hold an International Driving License for most of the time. Fortunately I didn't have any accidents and was never stopped by the police.

Btw, one of the good things about having the MM2H is that you can buy a new car exempt of import taxes if it is assembled in Malaysia. That covers most of the Japanese brands such as Honda, Toyoto and Nissan, and I think the Korean cars like Kia and Hyundai amongst others. When I bought my car it would normally have cost me RM145k, but I paid just RM91k. Of course a little bit of negotiating took place and I got a few freebies thrown in but the saving is pretty substantial.

There are lots of secondhand cars available in Malaysia and the prices can be really cheap, as well as Malaysian made cars which are the cheapest to buy.

Regards,
Hansson

Thank you Hansson
Is only new cars  exempted from tax

I don't know anyone who has ever had it back.

Yes only new cars. But if you are bringing in a secondhand car from your last country of residence then I think you will also be exempt from import tax.

As far as I know, you need to purchase the car within a year of obtaining your MM2H Visa. And it only applies to one car. When you eventually sell your car you do not have to refund the tax.

Hi,
We have just had approval for MM2H (wonderful) and are coming to KL to complete the process at the beginning of October.  Did you have recommendations for where we might obtain the required medical checkup and certificate, as well as the medical insurance?  Many thanks   Mark.

Hi Hansson. What happens ,when my husband or myself pass away,  with the fixed deposit, investments and property, whiles in Malaysia.  Where can I get info on estate requirements for non citizens reside in Malaysia under MM2H

Hi Kiwi123. Congrats.
My agent in KL logged my application for MM2H today.
How long did you wait for approval

kiwi123 wrote:

Hi,
We have just had approval for MM2H (wonderful) and are coming to KL to complete the process at the beginning of October.  Did you have recommendations for where we might obtain the required medical checkup and certificate, as well as the medical insurance?  Many thanks   Mark.

Hi Mark,

You can get a medical checkup certificate at any GP. But I would recommend speaking to an insurance agent about the checkup and medical insurance, because they will tell you where to go. I used Pacific Insurance (I'm not plugging the company but I was hospitalized for a slipped disc operation and they paid for everything when I checked out of the hospital including outpatient costs and they were also reasonably priced). Let me know when you are in KL and I can message you the contact details of an insurance agent that I used as it is better that you speak directly with her or any other insurance agent first.

Regards,
Hansson

Mmiki9 wrote:

Hi Hansson. What happens ,when my husband or myself pass away,  with the fixed deposit, investments and property, whiles in Malaysia.  Where can I get info on estate requirements for non citizens reside in Malaysia under MM2H

Hi Mmiki9,

I don't have that experience, so I suggest speaking with MM2H directly, and perhaps consulting a lawyer when you are here. Lawyers do not charge exorbitant amounts of money for consultation as they often do in the West.

If you plan to buy property and use a mortgage then you'll use a lawyer and you should specify in the case either one of you passes away that the other can sign for the sale of the property. In anycase, I do strongly advise consulting with a lawyer for all these matters as they will know exactly what to do. You should also arrange to make a Will when you get here.

As for the Fixed Deposits, you must get a letter from the MM2H Department to uplift the FD. Banks will not uplift the FD without that letter. So speaking with MM2H or a lawyer about the eventuality of one of you passing away is important.

Sorry I cannot be more informative.

Regards,
Hansson

Hi,
Sorry about the delay in replying.   It took 4 months for the approval to come through.   Although we did apply directly ourselves, rather than through an agent. Its possible that you might receive a quicker response than we did.   Good luck.  all the best

thanks for that.   hope you are all well now.
best regards
Mark

I visited Malaysia last month and it was wonderful, I loved this experience and would like to search for a job there and stay there as well.
Do you have link for the companies in Malaysia looking for candidates, specially PETRONAS ?

Thanks in advance

Hello,

Probably you shouldn't be posting in this thread because it is only concerned with the MM2H Social Visa which does not permit full time employment and only part time work.

However, I know that Petronas does employ non-Malaysians as one of my former tenants was a Geologist from India and he worked for Petronas for a couple of years and later quit to work with another company. I suggest looking on the Petronas website about career opportunities.

Regards,
Hansson

Yes, there is post at many Arabic Schools

That is awesome, thank you for the info

Dear Hansson,
I applied to retire in Malaysia under the Mm2h option, two months ago. Still waiting for approval.  You mentioned the option to retire in Indonesia . I would like to find out if it would be easier to get long term or even permanent resident in Indonesia as you mentioned you are in process of relocating there

@ Mmiki9 > I regret but Hansson is no more an Expat.com member.

Regards,

Priscilla