The Malaysian visa program leads to an extended stay, renewable, multiple-entry social visit pass. It is issued initially for ten years or for the validity of the passport. It is also not only for retirees, being available to anyone from countries recognised by Malaysia of any race, religion, gender or age. The Malaysian Government site dedicated to this program is very comprehensive and clear and well maintained.
The Malaysian visa, Malaysia My Second Home (MM2H), program provides a clear and certain path to residency via the prescribed application procedures. The steps laid down are very precise whether application is made directly to the government or via one of the licensed agents. Initial contact may be via an embassy, consulate or high commission. Malaysia maintains 105 diplomatic missions with representation in 83 countries. There are also some 50 Honorary Consuls in 39 major cities throughout the world supporting and enabling contact with the main overseas offices.
The simple six step process to obtain the Malaysian visa is set out at this page but it must be added that the collection and collation of the personal supporting documents is no less onerous than it is for any similar applications to any other country. There is not the apparent casualness of an application for residency as seems to be the case in Belize nor the extreme detail required by the United States of America.
There are two sets of financial qualifications that differ depending on the age of the applicant. The separation is at the age of 50 years and is in respect of the capital commitment required. At the application stage a demonstration only of the availability of the capital is needed. For finalisation deposit in a Malaysian bank is necessary (see below). Capital requirements are, under, 50 years, RM500,000 (about $US125,000)and over 50 years, RM350,000 (about $US86,000) at the time of application.
A security bond is required from all applicants (but not from dependants) who deal directly with the government. The appropriate form and the rates for each applicant’s country of origin can be downloaded from the above page There is a RM10 ($US2.50) stamp duty payable on this document. All appropriate forms can be downloaded from this site.
After approval the deposits needed in a Malaysian bank are RM300,000 (under 50 years) ($US75,000) or RM150,000 (over 50 years) ($US37,000). After a year these amounts may be reduced to RM150,000 ($US37,000) and RM100,000 ($US25,000) respectively for the purchase of approved items (e.g house, child education and medical expenses). These conditions are set out at the “On Approval” tab of the above page.
Application can be made to lower these amounts if an applicant owns property in Malaysia worth RM 1 million ($US250,000). The sale of such property would require the capital amounts lodged at the bank to be resumed at the above limits.
The offshore income wanted for all applicants is RM10,000 (about $US2500) per month. In mid-2016 the Malaysian Ringgit is worth almost $US0.25.
There is an annual renewal fee for the pass of RM90 ($US25) as specified at the “Collect Your Visa” tab at the initial process page. All of the above conditions cover the applicant, spouse and children under the age of 21 years.
There are slight variations to the documentary requirements depending upon whether the applicant deals directly with the government or with a licensed agent. In the former case the documents needed are set out in detail at this page. If an agent is employed the requirements are set out here. The list of documents will be familiar to anyone who has applied for a passport or other visa. There may be charges from other countries/agencies that supply some of these documents. The language to be used in the application is English and all documents not in this language must be translated by an approved translator. The usual certification by approved persons/authorities is necessary where copy documents are to be submitted.
All applicants must have a medical examination by an approved practitioner and it may be conducted in Malaysia or abroad. Medical insurance effective in Malaysia is also required.
As is the case with similar visas in the Philippines and Panama for examples the Malaysian MM2H program does not lead to citizenship. There is the possibility of working in Malaysia. Application can be made for a work permit. As is usual working on line or conducting offshore ventures with earnings deposited in an offshore account is always possible. The retiree benefits similar to those offered in Panama are not offered in Malaysia but the ability to own property, work and to come and go as necessary does provide most of the benefits of citizenship.
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