Support Funds as at 14th March 2009

[scott]

hi,

There hasn't been any change in the "support funds" (sufficient funds) amounts.

As all applicants know when you make the application you have to show that you can support yourself (and your family, if applicable) by showing that you've got cash, and money coming in from offshore (support income).

For the past couple of years it's been :

1). Applicant under 50 : At least RM500,000 in cash plus a support income of RM10,000 per month.

2). Applicant over 50 using the FD option : At least RM350,000 in cash plus support income of RM10,000 per month.

3). Applicant over 50 using Pension option : At least RM200,000 in cash.

And it's still the same as of today's date. There's been some recent talk, chat, hearsay, gossip, rumour, and speculation, that some of this will change but it hasn't. The rumour was started following the Minister of Tourism saying that they were looking into complaints of a lack of privacy in divulging pension sources.

Stick with what you know, and move on from there.

regards, Scott

[scott]

hi,

The support funds are covered by Items 10 & 11 on the Documents List of "How to Apply" on the Motour website : www.mm2h.gov.my

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.

It would be useful if members who have recently applied (within the past year or so) could post and briefly indicate what sort of documents they used, without giving away any personal and private details of course.

regards, Scott

[mhunter]

Hi All,
I see on the MM2H gov site it states under 50's need MR 500000 in liquid assets.
Can this include the value of my house in Australia if i had it valued by a bank?? or does it need to be cash? the FD & the liquid assets if it has to be cash! well i may never see that much at any one time unless i wil the lotto

[Steph]

AFAIK liquid assets mean cash ... you could ask the bank for a short term loan with your house as collateral, that way you would have the cash to show on your accounts.

[scott]

hi,

Steph is right, you'll have to show cash. The property in Australia would help to "bulk-up" the application but would not be in lieu of the cash.

However, quite rightly, the application does not require the applicant to state outstanding mortgages, loans or other borrowings. Why should it? This information is personal and private.

Given the ups and downs of stock prices, exchange rates, interest rates, and other financial items, the financial side of the application can only ever be a snapshot at a particular time.

regards, Scott