MM2H- Is there another way to stay

[aubella]

Originally Posted by Gloucesterguy

Hello Again Serendipity2,
OK, Can see there are benefits with the MM2H program that will not apply with Visitor status. So, I must look really hard at how I might be able to qualify. Maybe there are options for me to raise the necessary investment with a loan.

Is the RM 150,000 the only outlay. Thought there might be some other amount to find?

Can I really pre-arrange, visa etc, an entry to Malaysia with a maid escort on an MM2H ? If that's true I know just the right person

Would you advise an experienced person, such as an agent, to advise on the practical can and cannot do's. and to make all the arrangements? I saw comment that they are very expensive for the work they actually do.

Have already spent 3 years in Asia, mostly in the Philippines. Spent a week in KL already and was very impressed- everything was so clean and organized.

The requirement for MYR 150,000 as a deposit for MM2H is still the same, but since 1st April 2009 all new applications will only be allowed to withdraw MYR 50,000 in a year's time, which means that you have to maintain at least MYR 100,000 for the whole duration of MM2H.

I am an "agent"

[aubella]

Originally Posted by Gloucesterguy

Thankyou for your advice Aubella,

By my simple calculation 90+60, 72Hour gap, +90=240 days of Malaysian welcome from a total of 365 days, leaving 125 days - 3days= 122days, ie about 4months to account for in the first year.

I could return to the UK for a 32 day family reunion. That leaves 90 days to complete the first year of Malaysian living.

Do you think that I can expect to get a 90 day re-entry approval at this point?

If the answer is yes, then at the expiry of almost 90 days I take a short break away again, come back into Malaysia and the year is completed. So I should get another 90days to start the second year and repeat the cycle.

Am I on-track or off my head or just trying to be over complicated

Anyway am not at all confident in this plan. Do you have a better suggestion leaving MM2H aside for now?

Your calculation is correct, even on the second time you could renew for another 60 days after the initial 90 days if you wish.

The part about maid can be a bit complicated under MM2H. You have to be a "married" person and bring along your wife in order to be sure of your entitlement to a maid.

It is not true that only malay citizens can buy a house in Malaysia. Anyone can invest in residential property in Malaysia as long as the value is more than MYR 250,000 for most part of Malaysia, and the property is not zoned for bumiputra. As a MM2H participant you can enjoy various local facilities such as ease of utility connection, a local driving license, a local long term mobile phone, satellite TV, credit card etc for local usage.

[aubella]

Originally Posted by Serendipity2

Gloucesterguy,

I'm not the definitive expert on Malaysia or MM2H so anything I've posted is more what I think that what I know but if you'll "Google" the MM2H there is a lot of info and, yes, I've read you can bring a maid but before you opted to do so you should find out what obligations there are regarding salary and taxes etc.

Probably your best source would be Tumbleweeds who has lived in KL and can give you some helpful guidance. I do understand, though, that many expats live in Malaysia for years, even buy real estate [I understand you do not have to be a Malay citizen to buy a home - someone correct me if this is not correct] and just make infrequent trips out of the country to renew their 90 day visas. That may end one day but for now apparently it's not a problem. One bit I did read that was somewhat troubling is that after 60-65 you could not buy health insurance and if you did have it when you hit 70 you can't renew. I guess that's government planning for you - out with the old! :/ Still, I understand medical care is pretty affordable - like the Philippines. Unless you have a serious medical problem. I do think you'll find Malaysia far more open to expats than the Philippines is and you CAN buy a home whereas in the Philippines you can lease every square foot [or meter] of every island but you can't own one square inch of the Philippines.

Serendipity2

It is not true that after 60 years old you can buy health insurance. We arrange health insurance for last entry age of 70 years old, and the insurance is guaranteed to be renew until age 80 years old. The insurance company is Prudential.

As an expat, you can seek medical outpatient treatment in government hospital for MYR 5 each time, just a bit more expensive than the local rate of MYR 1

My mistake in previous post, I thought that I read that house ownership is an issue, but you are right, house ownership is a very simple and straightforward issue for even expats in Malaysia

[Serendipity2]

Originally Posted by aubella

The requirement for MYR 150,000 as a deposit for MM2H is still the same, but since 1st April 2009 all new applications will only be allowed to withdraw MYR 50,000 in a year's time, which means that you have to maintain at least MYR 100,000 for the whole duration of MM2H.

I am an "agent"

aubella,

Wow, that's a HUGE change!

Instead of being able to draw down on the money from MYR 150,000 [MYR 300,000 for under 50 years of age] to MYR 60,000 at the end of a year and use the money to buy a home one now has to maintain MYR 100,000 in a Malaysian bank and thus only able to withdraw MYR 50,000? At the current exchange rate that means retirees would have to maintain, on deposit with a bank, about US$29,000. [instead of around $17,200 which is high enough] I guess that's to insure if they have to boot you they have the money to do it with or if you become ill or have an accident it will be your money that's paying the bills. I don't think that was a positive move by the Malaysian government to 'lure' expats to come to Malaysia and participate in the MM2H visa program. Better to come and rent until a more reasonable program is available.

Too bad a single guy can't bring a maid into Malaysia. Why do we single guys always get picked on? On the other hand, we could be married to a fat American wife and have ten screaming kids so things could be worse!

Serendipity2

[Gloucesterguy]

Originally Posted by aubella

As a UK national, you can extend your 90 days visa for another 60 days when you are in Malaysia, and then leave the country for another 72 hours (by the rule) if you want to get another 90 days in Malaysia. However, if the officer at the immigration checkpoint found out that you have stayed in Malaysia without a long term visa for more than 182 days in a year, you may either be granted a shorter visa (14 days) or may require you to stay out from Malaysia for a longer period in order to stamp another 90 days for you.

On the other hand, should you decide to pursue the route in MM2H further, feel free to contact me I am General Manager of Aubella (MM2H) Sdn. Bhd.

The requirement for deposit of MYR150,000 is a must, but the requirement for MYR 350,000 as a financial proof for the application can be adjusted lower on a case by case basis.

Hello Aubella,
After some contemplation of the alternatives, it seems like the Mm2h program is the only sensible way to go. Before making any application I will most likely spend a few Months in Malaysia with assistance from some recommended contacts already living there from the Philippines, to get a better idea of the country and where to live.

Even so, must reconcile and get an assessment of my staus and ability to obtain the Mm2h before stepping out of the UK. on a visit, just in case I end up applying for the full Monty and end up in tears

Saw your post that new applicants can now only withdraw MYR50,000 of the MYR150,000 initially deposited after the first year- that appeared to apply to all age groups, am I correct?

Do not really understand what the MYR350,000 financial proof is all about? can you elaborate please.

[Serendipity2]

Originally Posted by aubella

As a UK national, you can extend your 90 days visa for another 60 days when you are in Malaysia, and then leave the country for another 72 hours (by the rule) if you want to get another 90 days in Malaysia. However, if the officer at the immigration checkpoint found out that you have stayed in Malaysia without a long term visa for more than 182 days in a year, you may either be granted a shorter visa (14 days) or may require you to stay out from Malaysia for a longer period in order to stamp another 90 days for you.

On the other hand, should you decide to pursue the route in MM2H further, feel free to contact me I am General Manager of Aubella (MM2H) Sdn. Bhd.

The requirement for deposit of MYR150,000 is a must, but the requirement for MYR 350,000 as a financial proof for the application can be adjusted lower on a case by case basis.

Hi aubella [beautiful gold???]

Thanks [sort of] for the update. No longer is Malaysia that great for retirees. It sure makes no sense for us to have to keep on deposit MYR 100,000 after the first year. Instead of making it easier and friendlier for retirees they seem more interested in our money. If we were working it wouldn't be so bad but when you are retired you have no idea if/when you will need your money and at that point you have two choices - leave Malaysia [or at least dump the MM2H visa] or have enough money where you can help subsidize the Malaysian banks. I have no interest in the latter - they have more money than I do and the thought of needing to give up my home to get my money - then what? Camp out in Mexico? Not a good more. I'll go to Malaysia but I'll sure not get an MM2H visa and if/when they don't want me around - I'm gone. No buying of real estate and then try to juggle moving a "new" homeland while also trying to get my money back from the government AND try to sell an home. Not going to happen. I"ll arrive with a suitcase or two and I'll leave with a suitcase or two. Too bad too, as it IS a great country but evidently the geniuses who came up with this nonsense are the same geniuses that allow taxi's to go "off meter" at night so they can rip us off. A pox on both their houses! Thanks for the heads-up!

Serendipitiy2

[Serendipity2]

Originally Posted by aubella

It is not true that after 60 years old you can buy health insurance. We arrange health insurance for last entry age of 70 years old, and the insurance is guaranteed to be renew until age 80 years old. The insurance company is Prudential.

As an expat, you can seek medical outpatient treatment in government hospital for MYR 5 each time, just a bit more expensive than the local rate of MYR 1

My mistake in previous post, I thought that I read that house ownership is an issue, but you are right, house ownership is a very simple and straightforward issue for even expats in Malaysia

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.

[aubella]

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.

[aubella]

aubella stands for "how beautiful" life is in Italian. With the Au as symbol for Gold, It basically means:

"How beautiful" the "Golden" years can be in Malaysia.

[aubella]

Originally Posted by Gloucesterguy

Hello Aubella,
After some contemplation of the alternatives, it seems like the Mm2h program is the only sensible way to go. Before making any application I will most likely spend a few Months in Malaysia with assistance from some recommended contacts already living there from the Philippines, to get a better idea of the country and where to live.

Even so, must reconcile and get an assessment of my staus and ability to obtain the Mm2h before stepping out of the UK. on a visit, just in case I end up applying for the full Monty and end up in tears

Saw your post that new applicants can now only withdraw MYR50,000 of the MYR150,000 initially deposited after the first year- that appeared to apply to all age groups, am I correct?

Do not really understand what the MYR350,000 financial proof is all about? can you elaborate please.

The process of getting into MM2H is pretty simple actually:

1) You need to prove that you have MYR 350,000 as cash asset
2) You have sufficient income (either pension or even rental income, investment income etc) to support yourself, if you are single and over 50 years old, usually it means an income of over MYR 7,000 and close to MYR 10,000 per month

once you have shown documentary proof of the above, we can get an approval from the government, of which then the MYR 150,000 fixed deposit requirement applies.

The MYR 150,000 fixed deposit requirement only apply to applicant over 50 years old. For applicant below 50 years old, MYR 300,000 fixed deposit is required initially, and will be allowed to withdraw MYR 150,000 subject to certain conditions.