General Requirements as at 14th March 2009

[scott]

The my2home programme is open to all citizens of countries recognised by Malaysia.

All applicants are required to show proof of their financial ability to sustain a comfortable living whilst in Malaysia. The financial requirements are for the main applicant only, individual family members being included with the main applicant.

Applicants can be individuals, couples, or families with children below 21 years of age.

The application criteria is Financial.

Applicants aged below 50 years can only apply on the FD option. They must be able to place a RM300,000 fixed deposit with any bank or financial institution in Malaysia. Only one fixed deposit is required per family. After the deposit has been placed for 1 year, the visa holder can withdraw up to RM240,000 for property purchase, medical expenses or children's education.  Withdrawals need approval from the Ministry of Tourism. The balance of RM60,000 must be keep as a fixed deposit for as long as the my2home visa is valid, and on renewal.

Applicants aged 50 years and above may choose to apply via the FD Option where they place a fixed deposit of RM150,000 in any bank, or the Pension Income Option where they show proof of an offshore government pension income of RM10,000 per month.  Again, only one fixed deposit or pension is required per family. And again, after 1 year, the visa holder can withdraw up to RM90,000 for the purposes given above with the remaining RM60,000 being kept on deposit.

All applicants need to show they have sufficient funds to support themselves whilst in Malaysia. The exact minimum amount for this is not stated by the Ministry of Tourism who oversee the MM2H scheme.

However, feedback from the Ministry shows this to be as follows :

1). Applicants under 50 need to show at least RM500,000 in cash plus an income of at least RM10,000 per month. Let's called this the "support income."

2). Applicants over 50 applying via the FD option need to show at least RM350,000 in cash plus an income of at least RM10,000 per month. Let's call this the "support income."

3). Applicants over 50 applying via the RM10,000 per month Pension Income Option need to show cash of at least RM200,000.

I know, you need to read it 3 times at least.   

So here's an alternative overview version :

If you apply using the FD option you need extra cash plus an income.

If you apply using the Pension Income option you need extra cash but no FD.

As well as the above financial requirements, applicants also have to have medical insurance valid in Malaysia (this can be waived for older applicants who have been turned down for insurance due to age, pre-existing medical condition), and there's a simple medical form to be completed by a local clinic.

regards, Scott

[donohue]

 Brilliant Scott
now for one clarification. What is an "income?"
Does it mean as some have suggested simply what you were earning the year before applying from all sources inlcuding salary or is it limited to ongoing earnings from interest and dividends or is it something else again?
 

[donohue]

Sorry Scott
As I was thinking you were posting a sticky on "Support Funds."
 

[scott]

hi,

Thanks, Donohue.

This is what it says on the MoTour site. It's Items 10 & 11 on the list of documents required for the application :

10. Certified copy (s) of latest 3 month's bank statements / other related financial document (s) to indicate the financial capability to support stay in Malaysia;

11. ** Latest 3 month's certified copies of pay slip/ pension slip/ income statement etc;

**Only applicants who are drawing from Government Pensions will be considered to have fulfilled the "Monthly off - Shore Income" criterion.

As usual with government agencies there's no exact definition on what they want. For 2 years, only agents have been putting in the applications so only they (and their applicants) know exactly what's what. It hasn't been necessary, till now (no DA's), to find out the range. I can, and will, ask around.

However, it's better for us to come up with our own guidelines based on what members actually used over the past year or so. Members can post at : Support funds as at 14th March 2009 which is a bit more specific.

regards, Scott

[rehunt2005]

Hi Scott, Gin, Rag,

I'm retired and over 65 years (from Perth); my wife is a Singaporean national, we live in Singapore and I am on a social visit visa (have to renew this visa every time and there is no guarantee of getting a renewal each time).  I want to retire in Penang with my wife on the MM2H programme where at least we can be assured of 10 years' of peace of mind.

The MoTour website states the following for applicants over 50 years of age:

ii Aged 50 years and above
 
- Can either choose to:
- Open a fixed deposit account of RM150,000.00 ; OR
- Show proof of monthly off-shore income of RM10,000.00 in government pension.

After a period of one year, participant who fulfills the fixed deposit criteria can withdraw up to RM90,000.00 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
Participant must maintain a minimum balance of RM60,000.00 from the second year onwards and throughout his/her stay in Malaysia under this programme.

One of the MM2H agents quote:

BELOW 50
(Option A or B )
(A)
Show cash of RM550k (~USD157k) or more in bank statements;

Agree to place RM300k Fixed Deposit in Malaysia;

Show latest 3 months off-shore income of at least RM10k/month ( Remuneration from company, Retirement Pension, Rental Income, any other stable income and return from Investments)


Above 50
(A)
Show cash of RM350k (~USD100k) or more in bank statements;

Agree to place RM150k Fixed Deposit in Malaysia

Show latest 3 months off-shore income of at least RM10k/month

(B)
Show cash of RM200k (~USD57k) or more in bank statements;

Show latest 3 months off- shore pension of at least RM10k/month from Government Approved Fu

I hope to apply for the MM2H social visa using the direct application method and communicating directly with the MM2H office from Singapore.

But before I do, can someone confirm to me if the MoTour statement for people like me (need to open a FD account of RM 150,000 ONLY in Malaysia and NOTHING ELSE) is exact. The MoTour do NOT refer to RM10K/month for people over 50.

Why do the MM2H agents specify on the requirements shown above?  It certainly does not make sense to me. Please enlighten me.

Thanks.
 

[scott]

hi, rehunt 205,

Thanks for the post. I'll move your post, and this reply, later on today as they're another topic area. Hope you don't mind. I've just set-up an new, up-to-date, topic on this.

However, to answer your question. And specifically about being over 50 applying with the FD option.

The financial criteria on the MoTour site is for applying under an OPTION only. As you're over 50 you need the RM150,000 FD. Agreed. You don't need to put "nothing else" down.

However, Motour also states, on their site, that they want this :

Applicants are expected to be financially capable of supporting themselves for ten years on this programme in Malaysia, without the need to work in the country.  Besides fulfilling the basic financial criteria of Fixed Deposit placement of RM150,000 (for those aged 50 and above) or RM 300,000 (for those aged below 50), applicants should furnish documentation on their financial position to strengthen their application.

[/b]

They don't give specifics. Bit annoying. However, in practice, they will consider the visa application if you have a monthly support income of RM10,000. This fulfills the first sentence :

Applicants are expected to be financially capable of supporting themselves for ten years on this programme in Malaysia, without the need to work in the country.

They also don't give specifics on financial position. However, in practice, they will consider the visa application if you show more than RM350,000 in cash. This fulfills the end bit of the last sentence :

... applicants should furnish documentation on their financial position to strengthen their application.


Some agents add on a bit to the RM350,000 to "make sure."

I trust you are now enlightened as I need to get up from my lotus leaf and, as it's peeing down, get the washing in before the memsahib finds out that I've forgotten it, and does me GBH.

regards, Scott

[rehunt2005]

Hi Scott,

Thanks a million for your information. It's great to find a site that's so helpful and informative and stacked with knowledgable people.
Good work. With renewed thanks.
R. Hunt

[papaya]

Scott - the RM 10,000 monthly support income.  As far as you know, do they look at that per individual or per application?  I mean, for example, if me and Mr P were applying as one application, would they be looking for RM 10,000 or RM 20,000 support income?

[stuurman]

The 10.000 RM income rule is, as far as I know, per family. So you and Mr. Papaya have to be married if you want to file one application. And if I am well informed you can get then a visa for all so called dependents in the original application, meaning spouse, children, grand parents...

I only apllied for me and my wife  , And proof of 10.000RM income was sufficient.

regards, Paul 

[papaya]

Thanks for that Paul.  That's great - not sure we can run to RM 20,000 per month 

[fizzychickensoup]

Yes I believe it is RM10,000 per family, and not RM10,000 per applicant!!!

[papaya]

Another question re the 10,000 proof of income.  Presumably Mr Papaya would be the main applicant?  Can the 10,000 proof of income be a combination of bank accounts for both of us?  I mean, we haven't got to go get all our accounts changed to joint accounts have we? 

[scott]

hi,

I've split off the posts on joint accounts.

Papaya's question still needs an answer if anyone can assist :

Can the 10,000 proof of income be a combination of bank accounts for both of us?

regards, Scott

[golfer]

I don't know if this helps, but for us the proof of income consisted of various types of documents for both my wife and myself:

• Payslips;
• Remittance advice from property management company showing rental income;
• Bank statements showing monthly interest earned.

To my mind, bank accounts are not proof of income (other than interest earned), they are assets that prove you ability to sustain yourself financially during your stay in MY.

Cheers
Poul

[papaya]

Thanks Poul.  That is helpful.  Re bank accounts, I was thinking of interest earned, which is partially what we live on.  It would seem from your comments that a combination of accounts in both or either names is acceptable.

If anyone else can confirm, that would be reassuring