Applying for MM2H, need to show monthly income

[JehanNYNJ]

Hi all,
Can anyone tell me if it is required to have a monthly income to apply for MM2H? I thought it was only necessary to invest a certain amount. But I recently found out that you also need to show that you have a monthly income coming in?


Can someone please verify this me?

Thanks,
Jehan

[synthia]

What does the Malaysia government website say? I thought it was a combination, either a substantial amount of money or somewhat less and an income, or a higher income level. But I never really checked it out once I realized I didn't want to retire there.

And welcome tot he forum!

[rjnpenang]

Hi, My wife & I did the MM2H last year, we did not use an agency. We can and did prove an income over 10,000RM a month however nothing was ever said about that and when the application was granted we were asked to deposit 150,000RM ( I am over 50). According to the website last year the income had to be a goverment or similar pension. Do any goverments pay a pension of that amount?. I think you should be prepared to lodge a deposit, my bank gave 3.7% interest on the 150,000RM.

[synthia]

According to the government site, if you are under 50, you must deposit money. If you are over 50, you can either deposit money or show an income of RM10,000 per month from a pension. Since that is about USD3,100 per month, I'm sure there are plenty of people getting that from government pensions. However, the requirement is not for a government pension, but a pension. What they don't want is people aritificially and temporarily jacking up their investments to make it look as if they have an adequate income when they don't. So, official pensions only, or money deposited in Malaysia. This is typical of a lot of retirement visa programs. Panama's is similar, but requires a much lower income.

[viv.destiny]

Hi Jehan,

To answer your question and to clarify some of the points above, you need to:

1. show proof that you can support your stay in Malaysia without the need to seeking employment in Malaysia. This can be proven by having offshore income of at least RM 10,000 per month, or liquid wealth exceeding a certain amount.

2. deposit RM 150,000 into a FD account in Malaysia if you're aged 50 and above or RM300,000 if below 50. This money can only be withdrawn after the 1st year but only for purpose of home purchase, medical fees and school fees. You must always retain a minimum of RM60,000 in this account throughout your MM2H program.

3. submit your application through an authorized agent, according to the new ruling effective from this year onwards

If you need more help, please feel free to write to me.

[synthia]

Thank you for the information! And welcome to the forum!