Malaysia My Second Home (MM2H)

That's good information. I will decide where to live after I am successful in obtaining an MM2H visa. Many thanks, expat000.

Can any of you please tell me whether the MM2H approval letter is sent by email or by post or any other media? Thanks.

Obaydullah wrote:

That's good information. I will decide where to live after I am successful in obtaining an MM2H visa. Many thanks, expat000.

If you want to live in Sarawak or Sabah you need to apply for their mm2h not the peninsular one.

There are three mm2h visas in total. The peninsular one does not enable you to live in Sabah or Sarawak.

The Sarawak one allows you to live in Sarawak or peninsular Malaysia.

Obaydullah wrote:

Can any of you please tell me whether the MM2H approval letter is sent by email or by post or any other media? Thanks.

It is a physical document sent by post or courier to the address you give on the application.

If using an agent it is sent to them.

Gravitas: Once you wrote on this page that "The income has to be shown in monthly bank statements which are translated, stamped by bank official seal and approved by local Malaysian High Commission or Consulate." My query is whether I would really need to get the bank statements approved by the Malaysian High Commission. Another query is: Do I need to get monthly bank statements on 3 separate pages or a single page for 3 months will do if all deposits and withdrawals cover on one page? Many thanks.

There is no guidance as to how the statements should be presented and it depends on the banking system. It just stipulates showing 3 months of the requirements for banking activity (ie balance and income). The pages in the application need attestation (read www.mm2h.gov.my for details). You can select how to do this and the high commission is always an option but there are others

Once you have decided which mm2h to apply for then seek information on that basis (eg FD or income) if you are thinking of Sarawak.

There is a Sarawak discussion on the forum for which I have sent you a link.

Hi Gravitas, 

I've sent email to HSBC Malaysia to ask about open bank account after obtaining the MM2H approval letter. However,  HSBC CS replied that I need the following documents to open bank account :
========================================================
We wish to inform that we require additional documents for the account
opening. Please be advised that below are the details.

Foreigner/Non-resident and Foreign Student:
a. Valid and current passport
b. Employer's reference letter
c. Valid working permits
d. Student Identification Card or Letter of Introduction from
school/college/university
e. Any utility bill to validate the billing address
========================================================
Can you provide information about how to get open bank account and complete the fix deposit requirement of MM2H easily by using passport and the MM2H approval letter only?
I believe that HSBC CS staff not know much about the MM2H plan  !!!

Thanks a lot

I think you are right!!

If you already have a banking relationship with HSBC it can usually be extended to Malaysia.

If not you just take the original Conditional Approval Letter to the bank so they can open a current account plus any currency accounts you may wish to use to wire your Fixed Deposit money into Malaysia.

Always need to take your passport when dealing with banks or other officialdom in Malaysia.

I don't know about money transfer routes from Taiwan but Transferwise or other similar services probably exist. Otherwise it is a case of

a) wiring an amount in MYR end value into your MYR current account
b) transferring funds into a currency account (for later exchange into MYR)

From either of those routes the Fixed Deposit is set up.

Depending on the validity of your mm2h pass based on passport expiry date, if there is 5 clear years it may be possible to negotiate a 5 Yr fixed deposit higher rate than just a 1 year rollover.

Gravitas wrote:

I think you are right!!

If you already have a banking relationship with HSBC it can usually be extended to Malaysia.

If not you just take the original Conditional Approval Letter to the bank so they can open a current account plus any currency accounts you may wish to use to wire your Fixed Deposit money into Malaysia.

Always need to take your passport when dealing with banks or other officialdom in Malaysia.

I don't know about money transfer routes from Taiwan but Transferwise or other similar services probably exist. Otherwise it is a case of

a) wiring an amount in MYR end value into your MYR current account
b) transferring funds into a currency account (for later exchange into MYR)

From either of those routes the Fixed Deposit is set up.

Depending on the validity of your mm2h pass based on passport expiry date, if there is 5 clear years it may be possible to negotiate a 5 Yr fixed deposit higher rate than just a 1 year rollover.

I will continue to negotiate with HSBC Malaysia staff  to open account with passport and MM2H approval letter.

But I also want to know that if I open the FD account of Maybank or CIMB when I am in Malaysia,
then I must return to Taiwan to order my bank in Taiwan to process the wire transfer to FD account in Malaysia bank. Therefore, is it means I can't get the MM2H visa chopped in my passport during a single trip to Malaysia ?  (ie. one trip for open FD account and then return to origin country to process wire transfer. another trip to get the FD certificate to get the MM2H visa chopped)

Once you have been assigned a current account number* in Malaysia you can arrange for a transfer.

Probably good to transfer some extra funds. The FD will be set up using funds from your current account. Although you can usually get a debit card in Malaysia, getting a Credit card may require a FD to be set up basically guaranteeing your desired credit limit, hence the need for extra funds plus living expenses and property rental deposits etc. Malaysian banks definitely require a FD for a CC but foreign banks may just charge an extortionate fee etc

You need to discuss either with your bank outside Malaysia (Taiwan or elsewhere) or a money forwarding company of your preference, how to set up the transfer to Malaysia.

Often for a forwarding financial services provider this is done by depositing funds with the transfer company against a verbal discussion and agreement shared by email to which you give your written consent.

You can probably do the preparations before leaving for Malaysia and just inform them of the Malaysian account number at a later date.

Every country has specific rules for international transfers so you need to make enquiries yourself.

*Best solution might be to set up an account at HSBC in Taiwan if possible and then potentially do an online transfer. HSBC has a global dashboard for banking relationships with them. Can usually send currency or direct exchange to MYR.

There's a Money Laundering report required for amounts over MYR25k which delays a couple of days. So allow a 5-7 working days for the transaction if not done online

Of course if I can open the FD account in HSBC Malaysia, then I can easily transfer money through online banking by using HSBC global transfer.

My concern is if I can't open FD account in HSBC but instead in Maybank or CIMB, then I need to arrange the money transfer in other means.

I want to confirm with you that for Maybank or CIMB, I can easily open the FD account with valid passport and MM2H conditional approval letter?   If so, then I will pass this message to HSBC Malaysia staff to let them check the MM2H related account opening issues again.

Thanks

Yes of course you just walk into any bank in Malaysia with your CAL and passport. Every bank can accept mm2h clients.

Don't fuss with HSBC. They are chaotic in KL. They are good in Penang.

You may also want to know that the most common account for general daily use in Malaysia is called a savings account, and it will usually come with a debit card and online banking facilities, but not a cheque book. A true current account is probably harder to open.

Gravitas wrote:

Yes of course you just walk into any bank in Malaysia with your CAL and passport. Every bank can accept mm2h clients.

Don't fuss with HSBC. They are chaotic in KL. They are good in Penang.

Hello Gravitas,  I have discussed in detail about health insurance with MSIG Malaysia through email and the only outstanding problem is that it requires a permanent address instead of hotel address  when I fill-in the proposal form of the policy.  As the first trip is to get our passports endorsed with MM2H visa but will only relocate to Malaysia few months later.  So how do you handle the address problem when applying for health insurance ?   (The CS claims that the policy will be sent to the registered address through normal post.  I even cannot collect the policy over the counter at their office)

Use another insurer. Usually there are no problems like this and they should know you need the policy urgently so realise you need to arrangd to collect it from their office after a couple of days not wait a week or more for it to be mailed.. If you know someone ask to use their address "care of" then change the address when you have your own place. Definitely warning signs with this company

Gravitas wrote:

Use another insurer. Usually there are no problems like this and they should know you need the policy urgently so realise you need to arrangd to collect it from their office after a couple of days not wait a week or more for it to be mailed.. If you know someone ask to use their address "care of" then change the address when you have your own place. Definitely warning signs with this company

You have mentioned that you subscribed Tokio Marine's health insurance.  Does Tokio Marine allows hotel or service apartment address as registered address and also can collect policy at their office ?

You will have to ask them as I was already a resident when I applied for mm2h I use their office on Jalan Sultan Ismail. They have a very cut down policy just for mm2h. However as I live 100% of the time in Malaysia I buy a more robust policy. Still pay the same for 12 months coverage here as I would pay per month in Europe

Gravitas wrote:

You will have to ask them as I was already a resident when I applied for mm2h I use their office on Jalan Sultan Ismail. They have a very cut down policy just for mm2h. However as I live 100% of the time in Malaysia I buy a more robust policy. Still pay the same for 12 months coverage here as I would pay per month in Europe

Thank you,  I will go to Jalan Sultan Ismail office for health insurance.

I think it's in Menara Dion (right by monorail Station Raja Chulan) about 21st floor. But doublecheck. You need a security pass from the reception desk at ground floor and must give them some kind of ID card for safe keeping. I use a driving licence usually. Take your passport and mm2h letter as you will need them..Offer to pick up your policy document when convenient and provide a phone number they can call you on when it's ready. If you just give the full street address without mentioning hotel or serviced apartments it will probably work.

All their policies and prices are online but ask if they have a mm2h policy. It may just be their cheapest mini policy.

Gravitas wrote:

I think it's in Menara Dion (right by monorail Station Raja Chulan) about 21st floor. But doublecheck. You need a security pass from the reception desk at ground floor and must give them some kind of ID card for safe keeping. I use a driving licence usually. Take your passport and mm2h letter as you will need them..Offer to pick up your policy document when convenient and provide a phone number they can call you on when it's ready. If you just give the full street address without mentioning hotel or serviced apartments it will probably work.

All their policies and prices are online but ask if they have a mm2h policy. It may just be their cheapest mini policy.

Thank you, I will arrange to go to this office for health insurance.

Ask about the Rebate for Walk-in customers. They call it "Direct A/C - KL"

Gravitas wrote:

Ask about the Rebate for Walk-in customers. They call it "Direct A/C - KL"

Thank you for the information.

Both Peninsula MM2H and S-MM2H require 4/5 photos of each applicant but I find the application forms have space for just two photos. Can anyone tell me where the other photos should be glue-pasted?

I'd just provide them with sufficient photos and let them trim and place them of the documents as the wish.  It's never very clear what they use the other photos for Onw will be used as part of the visa...very tiny little image insuffient to really identify you), but I imagine that the must send a copy off to the Federal system and an extra photo will go onto that document as the image on a photocopy is not sufficient. Also perhaps the Sarawak Police get a copy? Then they may have a spare just in case a document gets lost or damaged.

Hi cinnamonape, thanks for the answer. I questioned an officer yesterday: One of the your requirements says: 'Applicant is required to submit a passport picture with BLUE background only.' Do I require just one picture or four in blue background in 35X50 size? Should it be glue-pasted or stapled on the specific space of the application form?

Her answer was: Four (4) coloured passport sized photographs (3.5 x 5.0 cm) for all applicants. Yes, paste them on the application forms.

I brought loose photos. They had a glue stick there (I also brought one, just in case). They used two of the photos and placed them on the spaces on the applications. They did trim my photos down.

If you were confused about precise placement and had brought loose photos they would put them on the documents as needed. At least they did so with me.

The other two photos they just kept. That was your question...what to do with the two (or three) extra photos. I gave an explanation as to WHY they might need them.

The "BLUE" background requirement was posted on the MM2H website as a new requirement, effective March 18, 2019.  My photos had a white background, but I applied in December 2017.

http://www.mm2h.gov.my/index.php/en/lis … pplication

Sorry if I may have made something wrong.

Can anyone tell me if there is any cut-off date of the month for lodging an application for MM2H given that I should obtain a bank statement for three full calendar months?

Just as long it's the last 3 months statements. If your bank sends them on 20th each month. That's what your cut off date is. Otherwise you'd have to
Wait until the following month.

Hi 1openmind, My query was until which date of the month MM2H would accept an application. And do you know if three months' statement on a single page is acceptable? Many thanks.

I would imagine they accept the application every business day all month. As far as the bank statements each one of mine was 3-4 pages. I didn't leave anything out. I also had 5 other accounts I needed to print each out 3-4 pages for each month of those.
My paper work was easily over an inch thick. Don't give them any reason to suspect your hiding anything.
I would not print out 3 months on 1 page.

Thanks for your reply. My banking transactions for three months will be accommodated on a single page as I don't have many transactions. Each month I have three deposits - one rental income and two profits from FD investments that total about MYR12500 - . and a few withdrawals.

Ok cool as long as it shows each page clearly. Shouldn't be a problem.

Do they need full calendar-month bank statements?

Are you talking about Sarawak MM2H or Peninsular MM2H?

They have different requirements.

https://mtacys.sarawak.gov.my/page-0-17 … -MM2H.html

About Peninsular MM2H for which one of my friends would apply and has asked me to know about.

That clarifies things....

I was wondering why you were inquiring about BOTH the Financial Assets and the Fixed Deposit Requirements. Showing BOTH of those applies on the Peninsula and Sabah.

"Applicants aged below 50 years are required to show proof of liquid assets worth a minimum of RM500,000 and offshore income of RM10,000 per month. For certified copy(s) of Current Account submitted as financial proof, applicants must provide the latest 3 months' statement with each month's credit balance of RM 500,000.

Applicants aged 50 and above may comply with the financial proof of RM350,000 in liquid assets and off shore income of RM10,000 per month.  For certified copy(s) of Current Account submitted as financial proof, applicants must provide the latest 3 months' statement with each month's credit balance of RM 350,000. For government pensioners, they can show proof of receiving pension of at least RM 10,000 per month."

Note the use of the plural term "For certified copy(s) of Current Account submitted as financial proof". I'm not sure if they would be willing to accept some screen grabbed or photoshopped copy of several months of bank statements. Why cut corners and get your application rejected?

BTW Liquid assets are generally defined as assets that can be quickly liquidated to cash without loss in value...e.g. checking and savings accounts, stocks and bonds, and Fixed Deposits. Some pensions have a penalty if withdrawn early, so cannot be evaluated at the full amount. Real estate is generally considered a "fixed asset", though perhaps not the income from rental deposited into your savings account.

Many thanks for the detailed reply to my friend's query. Are the incomes from monthly profit-based FDs treated as monthly offshore income?

I don't see why not, provided it is offshore income. I heard that an expat with accounts in Malaysia was not allowed to use either the FD or its interest as "offshore" though.