Quote:
Originally Posted by Serendipity2
aubella,
Arghhhh,
I should have pointed out that you now have to leave MYR 100,000 on deposit after the first year NOT the MYR 60,000 which it use to be. That's a BIG difference for the privilege of having an MM2H visa and making Malaysia my retirement home.
|
By taking more from you, Malaysia Government will give back something to you....
As per the new guideline, you now can:
1) Work part-time for up to 20 hours a week, in a job approved by the government.
2) Invest and manage your own business, as long as you form a private limited company.
3) Even if you do not buy a house, if you have invested in a unspeculative business, you could withdraw the MYR 50,000 or MYR 150,000(for anyone below 50 years old) after one year of MM2H.
So rather than looking at the additional MYR 40,000 that has been taken out from your retirement nest, you could look at the other side of the coin of which you could generate more income in Malaysia to support your retirement life. Life of just lying in the beach all days will be very boring after a few months. Even if you do not need the income, the choice of able to turn a hobby into a income generating activities can be quite satisfying.
If one is below 50 years old, the requirement has now changed to maintaining MYR 150,000 after one year, which means that only MYR 150,000 are allowed to be withdrawn.