Author Topic: Personal Bond (Read 3874 times)

HIDDEN · « **on:** August 25, 2007, 03:02:21 AM »

Up until April 2006 (when Motour took over the admin for MM2H) it was necessary for all applicants (DIY, or through an Agent) to submit a personal bond form.

This requirement was dumped in April 2006, and brought back in June 2007 following the move to agents-only applications.

This "personal bond" form (available at Download Links to All Forms) needed to be signed by "a sponsor" (any Malaysian citizen before April 2006, but now it's done by an agent).

The form is stamped with a RM10 Hasil (revenue) stamp, and is witnessed and a bond amount added-in. The bond amount varies according to country of origin, and as follows:

RM2000 for Canada and the USA.

RM1500 for Saudi Arabia, Africa, Australia, British CI, Brunei, China, Europe, Hong Kong, Iran, Iraq, Portugal CI, Taiwan, Tunisia and Vietnam.

RM1000 for Japan, Korea and Macau.

RM750 for Bangladesh, Philippines, India, Myanmar, Nepal, Pakistan and Sri Lanka.

RM500 for Indonesia. RM300 for Thailand. RM200 for Singapore. RM1500 for others (except Serbia Montenegro and Israel).

The bond form states that the sponsor will forfeit the above relevant sum if the my2homer defaults on the terms and conditions imposed in respect of the mm2h visa.

No money changes hands. The sponsor assumes a liability if the my2homer defaults, and if the government enforces the bond.

regards, Scott

HIDDEN · « **Reply #1 on:** September 07, 2007, 09:59:16 PM »

Just read in a certain monthly expat magazine a moan about this 'extra burden' on agents. Now now now don't all go crying at once

The conclusion was that they would have to do the financially responsible thing and raise their fees to cover the increased financial exposure!!!!!

Ever heard of 'RISK'?

The poor old applicant gets shafted again!

HIDDEN · « **Reply #2 on:** September 08, 2007, 09:04:02 PM »

hi,

Yep, it's a real burden all right. The agent acts as surety for the bond in case the applicant breaks the terms of the approval.

So, if I have to start working (heaven forbid) and am caught-out (what are the chances) and skip the country, or more likely, appeal on the basis that I didn't know what I was doing (pretty justifiable) then MoTour will make the agent pay RM1500.

And what are the chances of that! And what if the agent doesn't pay? How many agents have ever been struck off the approved list?

Anyway, at the last quarterly agents/MoTour meeting, an agent proposed removing the "burden" of the bond from the agents in view of the fact of the applicants' FD. MoTour said that it would look into this.

As this is just a proposal there's no point in dissecting the implications here. We just need to keep an eye open to see what finally appears, if anything.

regards, Scott

HIDDEN · « **Reply #3 on:** January 13, 2008, 01:53:55 AM »

The personal bond, is this some thing that we have to pay to the agent?

HIDDEN · « **Reply #4 on:** January 13, 2008, 12:33:36 PM »

hi, smartcard,

I've added your post to this ongoing thread. The earlier posts explain the personal bond.

Some agents make a point to charge extra. Some agents make a big deal out of it, some don't. Check around with the agents to ensure its already included in the fee.

Agents, such as Joy-Stay, do a basic application for RM1,500 which includes the RM1,500 bond amount so I suppose they're prepared to shoulder this "burden" given that the chances of ever having to pay up are totally remote.

regards, Scott

HIDDEN · « **Reply #5 on:** January 15, 2009, 01:37:14 PM »

hi,

This is a copy of the post at : Agents REALLY no longer Required

Quote

I received a reply from Cindy at MM2H to say that my email regarding the Personal Bond needing to be signed by an agent had been received.

There hasn't yet been any further emails but I checked MoTour's MM2H site today, and the Personal Bond bit on the list of application requirements has gone.

Quote
5 Personal bond (Regulation 18) * must be completed and signed by Malaysian who is one of the Board of Directors/Shares Holders/ Managing Director/ Manager from the appointed MM2h licensed company);
The Personal Bond must be stamped by The Stamping Office.
Note: A Personal Bond is to be made for each applicant and dependent.

The above is taken from BB's post on 9th January 2009 : Agents No Longer Required

Item 5, as above, has gone and the previous list of 12 items for a New Application now has 11 items.

The Personal Bond Form is still on the website. Obviously a bit more clarity is required on this so I'll email MoTour.

However it's good news that MoTour has followed through with this.

regards, Scott

So maybe the situation is back to where it was in 2006 i.e. no sponsor needed and no Personal Bond. Or maybe it's back to where it was prior to 2006 i.e. get a Malaysian citizen to be a sponsor and sign the Personal Bond Form.

This wouldn't, to my mind, stop anyone from going ahead with a DIY application. It just needs a bit of sorting out. To repeat myself, my sponsor was the owner of a local cyber cafe, no money was paid, he was more than pleased to sign for me. Malaysians are really nice and helpful folk.

regards, Scott

HIDDEN · « **Reply #6 on:** January 15, 2009, 10:43:44 PM »

I received an email from Yvonne of Joy-Stay today telling me to go ahead with a complete DIY route as they have been told by MoTour that Personal Bond is now not required.

What do you think Scott, Fizz*, Corporate*, ...... should we go for it?? Will one of you guys in KL be able to assist if we get confuse during the process??

HIDDEN · « **Reply #7 on:** January 15, 2009, 11:26:02 PM »

I think it's worth a try, and then we can post the experience here for others to benefit from it!

Why pay a 'shed load' of money to someone to do stuff that cost little more than a few taxi rides........after all you still have to provide all required details, which is tantamount to filling in forms.

I am around a fair bit, but will be away Easter period, mid-May and most of July/Aug. However I am happy to help wherever I can.

HIDDEN · « **Reply #8 on:** January 16, 2009, 01:01:45 AM »

I did the whole thing myself and would be happy to tag along if you want the company. My plans are to return to KL sometime late summer/early fall so if you go then it would be no problem. Regardless, good luck and indeed, post the experience here...Jim (jr6020)

HIDDEN · « **Reply #9 on:** January 16, 2009, 01:50:16 AM »

hi,

Now that's good news from Yvonne at Joy-Stay. So the situation may indeed be back to where it was in 2006, and no Personal Bond means no sponsor. I haven't yet received a reply to my email to MoTour on the subject.

Why not go for it nks900. I'm sure that there will be enough forum members around if you need a physical presence in KL. You need to send the application to the MM2H Centre, Ministry of Tourism Malaysia, Level 23, Menara Dato' Onn, Putra World Trade Centre, 50695 Kuala Lumpur, Malaysia.

Also, once the application is in you can track it online.

regards, Scott

HIDDEN · « **Reply #10 on:** January 17, 2009, 08:56:16 PM »

Quote

hi,
I haven't yet received a reply to my email to MoTour on the subject.

Hi Scott

Cindy Lim did respond to a clarification through MOT site in regards to Personal Bond. This is what she said
"On the personal bond, please be informed that if you are applying directly, you need not use an MM2H agent as your sponsor. "

cheers

HIDDEN · « **Reply #11 on:** January 18, 2009, 12:45:18 AM »

hi,

Thanks for the post, Raghu. Yvonne from Joy-Stay sent me an email today which said :

Quote

I have confirmed with Motour, those who submit directly to them do not need to submit the Personal Bonds however, they still insist that the agents need to produce the Personal Bonds. Personally i do not understand what is the purpose of the Personal Bonds at this point.

Guess it is all still sorting itself out.

regards, Scott

HIDDEN · « **Reply #12 on:** July 24, 2009, 07:42:52 PM »

Today july 24

has anyone got more info regarding the DIY and fact the personal bond .?

I will be in KL sept 21 to finalize the procedure ..
if anyone around willing to meet , help and/or have a drink ... or all of them drop me a line...

also looking for a place to rent (for 2) in KL for short term 1 or 2 months ..
I guess there is a forum for that ...will have a look
Thanks

HIDDEN · « **Reply #13 on:** August 13, 2010, 12:58:23 PM »

hi,

Just bringing this topic up-to-date.

The Personal Bond is supplied by the agent. The participants don't pay anything, and neither does the agent. The agent only pays up if the participant breaks the law and gets sent home.

And then it's pretty debatable if the agent would ever pay. After all, whilst the Ministry of Tourism wouldn't want publicity, there's no mention anywhere of any agents ever having to fork out.

Still, if there is info maybe MoTour will post. Just out of interest.

If you're going the DIY route then the Security Bond applies so check out : Security Bond

Subject / Started by	Replies	Last post
Personal Bond vs Security Bond at Renewal Started by scott MM2H Renewals & Transfer of Endorsement	0 Replies 924 Views	March 31, 2009, 04:31:26 PM by scott
Security Bond Started by th143 « 1 2 3 » MM2H Direct Applications & Security Bond	31 Replies 6006 Views	October 12, 2010, 02:31:47 PM by Azka
Security Bond Form : Attached Started by scott MM2H Application Forms Download	0 Replies 668 Views	May 20, 2011, 10:27:36 PM by scott
Personal Bond Form : Attached Started by scott MM2H Application Forms Download	6 Replies 1072 Views	July 29, 2011, 11:12:30 PM by scott
Security Bond : Basics June 2011 Started by scott MM2H Direct Applications & Security Bond	14 Replies 1454 Views	July 17, 2011, 09:12:06 PM by Atilla

News:

Personal Bond