Quote:
Originally Posted by Gloucesterguy
I'm gettng vey confused with OVERS and UNDERS. I am 65years old - love the under 50's but it would be so nice to cut out the double talk and focus on just one age group at a time.
I gave up bothering with MM2H after all the money grabbing requirements came to light and found plenty of lovely coutries who are not out to suck on foreign pensioners of above aveage pension income.
BUT THEN Tumbleweed made an interesting post. This little extract caught my attention as follows:
If you are over the age of 50, you need to show proof of having liquid assets of at least 350,000 and make a fixed deposit of at least 150,000 RM. After one year, you can withdraw 50,000 RM of that for home purchase, education or medical expenses. The remainder must be held in a fixed deposit account in a Malaysian bank. Alternately, you can show proof of receiving a pension of 10,000 RM per month. This bypasses the requirement for a fixed deposit. But you must be over 50 to qualify for this.
So can I forget the fixed deposit or NOT?? - How can such a simple subject apper to become so compex!!!!!!!!!! 
Anyway AuBella was emphatic- the massive cash reserves, fixed deposits and fat cat pension is a must for Malaysia. 
Surely Malaysia is a lovely country, but then there are equally lovely places, more welcoming to pensioners. Maybe Malaysia can cream off a few thousand over a long period of time while other might make a killing by being rather more helpful.
Why do I waste my time - Must be an optimist  |
gloucesterguy,
Surely you can handle two different scenarios. One is under fifty and the other is over fifty. Since you're 65 that makes you "over fifty". Simply ignore the former and concentrate on the latter. I agree with you that Malaysia has suddenly changed the rules and the amount required in liquid assets for someone "over fifty" [that's you and me] is way too high. So is leaving MYR 100,000 on deposit so long as you remain there on an MM2H visa. I will not be donating my money to fat cat bankers to sit on - and I always wonder and worry just how difficult getting it back will be.
That said, you've mentioned there are many other lovely nations who are as good or better. You have my undivided attention. Care to name one or two? Keep in mind Tumbleweeds also mentioned you can live there on a 'social' visa of 90 days and not participate in the MM2H visa. That makes a LOT more sense to me. The day I don't feel welcome it's an easy commute to the nearest border, taking my monthly expenditures into the Malay economy with me. So, about those alternatives, mate!
Serendipity2