Sufficient Funds

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hi,

The Motour site still has the following under the "How to Apply" page:

9). A certified copy of latest bank statement /other related financial document to indicate the financial capability to support stay in Malaysia.

However, Steph has just pointed out  Download Links to Forms  that on this same "How to Apply" page there's a new item under the .pdf forms. It's called "MM2H Application Forms."

And on the final page of this new item, in Appendix A, it says:

9). Certified copy (s) of latest 3 months’ bank statement /other related
financial document (s) to indicate the financial capability to support stay
in Malaysia.

regards, Scott

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Found an older pdf file I downloaded from the MoTour site a while ago on how to apply ... there it states on point 10:

10  At least 3 months certified copies of pay slips / pension for applicant 50 year and above who applied using the proof of monthly off-shore income

in the new pdf file it now just states:

10 At least 3 months certified copies of pay slip / pension slip / income statement etc.

Wonder why, and how much monthly income they are looking at! ... I also so noticed some agents still have the old version on their websites. Confusion galore!


Another change is that Point 7 about the 10 year resume has disappeared, an is now replaced by point 2, which refers to the application form (the new form to download) since that incorporates a chapter in which they ask about employers and workexperiences.

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hi, Steph,

Thanks for the updates. Maybe they want to discourage the offshore income option.

I also noticed that the introduction paragraph has changed for the "Terms and Conditions" page. It's been rewritten and the items on "big" salary etc have been deleted.

What's been added-in is the need to support yourself for 10 years. It's all pretty much revolving around similar points.

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.

regards, Scott

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Hi,

As I posted earlier they are indeed "not encouraging" applicants on the offshore income option. It was made clear to me that it would be a waste of time now applying under this option as it is " the substantial funds available option" plus the FD which is the only "realistic" route.

I wasted 7 months applying through the offshore income option. When I changed it to the FD and evidence of funds I had the visa in less than a month on appeal.

Cheers

Brian

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But it still makes me wonder why, when you go for the FD and can prove sufficient funds to support oneself, you still need to show them 3 months of income statements!

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hi,

I think that they want to see where the funds come from. They're (the Immigration Approving Commitee) is probably worried that the "sufficient funds" have been borrowed for the purposes of the application. So they need some assurance that the funds are built-up from some earned income.

regards, Scott

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If funds are held in an overseas bank (in my case HSBC HK), then what exactly do I need to do to get them "certified"? Who and how do you ask at the bank for this? Do you think I could get someone at HSBC Malaysia to sign/stamp photocopies of my HSBC HK statements?

Similarly, who does it mean to have copies of your passport "certified"? By whom? I have 128 pages worth to get done..

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hi, Risky,

Certify means that someone in authority (like a public notary, or government official) needs to sign the photocopy of the document stating that it is a true copy.

Firstly - the Passport. You need to do all pages to show that you are not a citizen/resident  of those countries that are classed as restricted countries by the government of Malaysia.

Secondly - your cash. You need to prove that you have the money so get your bank statements certified by the bank. You could ask HSBC Malaysia to arrange this for you, especially if you intend to open a HSBC Malaysia account.

regards, Scott

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Firstly - the Passport. You need to do all pages to show that you are not a citizen/resident  of those countries that are classed as restricted countries by the government of Malaysia.  regards, Scott

Ahhh! That explains that one. I often wondered why you had to copy all of the pages in the Passport, especially in the case of a virtually new one, as almost all of them would be blank.

Thanks Scott....enjoy sunny Portugal.

When are you planning on getting back to Malaysia? 

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yes thanks Scott........... we also didn't realise the reason behind that one. nothing more anoying than copying blank pages.

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hi,

I'm currently sitting in the Lagos Cultural Centre on the Algarve. It's free broadband here. I'm waiting for the folks who have made an offer on my place to come up with the 10% deposit. And if it goes ahead it's back to Malaysia toot sweet.

regards, Scott

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Good luck with the sale Scott, we are also selling our 3 bed 3 bath bungalow in Langkawi as our 2nd bungalow should be completed in Oct.