Eligibility test

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They now have an eligibility test on the MM2H website!

http://www.mm2h.gov.my/Evaluation.htm

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Yep, I had to try it and they let me in again!!

My concern is that if the rules can be changed so readily for eligibility criteria it would be nice if we could get some reassurance that they wouldn't affect MM2Hers retrospectively....so the rules you get in with are the rules you carry on with. I would have concerns if I move lock stock and barrel to My to find that in 10 years time, after I have bought property there, that i don't qualify any more. A sharp change in the rules could affect a lot of people on limited pensions maybe forcing them to leave and creating a glut of property on the market. ie the introduction of a 500k FD. I didn't find the answer given by Motour to Scott was very reassuring. It sounded like they needed more time to think.
For those that have already gone through a renewal process, was it ever a concern that your original status might have diminished to the point of none qualification...ie shares taken a dive, property price dropped, change of job if still working etc etc.
Just wondering.
Loopi.

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This is my concern too.  I just tried the test and I was deemed "Not Qualified".  The funny thing is I was qualified back in Jan '07 when I was accepted into the program under the same criteria I was just rejected (Govt pension, over 50, $5000 in savings, $23000 annuity and no fixed deposit required).  Will I be able to renew under the original criteria in effect in 2007?  Can someone clarify this?...Jim

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Okay what's the prize for working out the "lowest" combined thresholds that meet the program. For example if you say you have US$10M in assets but no income....... ding....... you fail.
Come on you players. How long to crack the code !! 

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OK Donohue..try this to frighten everybody...
I put in assets of over one million dollars but if I dropped the income level to below $35,000 I was out. $35000 was IN but drop it to $34000 and you're out. So, I'd say that roughly they are still calculating on 10,000Rm per month.
So you can have all the assets you like at home but if you don't meet that provable 10k Rm per month you're stuffed. That's not very good if you've bought property etc and you become no longer eligible to live there. Where many of us would be relying on income from shares and term deposits etc (ie no pension yet as I'm not old enough) I could find myself asset rich and income poor with the downturn and be out on my ear. That doesn't feel too good to me and not a good way to attract investment.

I guess it gets back to the 'wish list' where a promise of PR after the first 10 years would overcome that fear.
I certainly know of MM2Hers that are struggling financially since the meltdown began. Let's hope it turns around.
Loopi.

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 Excellent start loopi.
One thing no one has ever commented upon is whether the "income" or support figure is pre tax in the source country. I have always assumed it to be pre tax but I must admit I have no firm source upon which to base this view.

In defence of the "eligibility test" it is presumably set with conservative criteria and does not reflect departmental discretion. (perhaps).

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I would say that this test gives you a big clue to be very careful. For those of you who are applying before retirement...let's say you're on $50,000 to $100,000 when applying and employed BUT your income afterwards will fall when on pension or self funded retirement you are vulnerable. If for example you are relying the UK state pension...I don't believe you would qualify. Let's say a UK couple on state pension of 150 pounds per week..or 750 Rm ...you won't make it on renewal...asset rich or not.

This is starting to feel like a deal breaker to me. I have sizeable funds in TD and a good share portfolio and properties around the world...but if interest rates were to remain low and the share market remain dodgy then I could end up with a property in Penang that I might not be able to sell.
I've already got one of those in Spain and I don't want another one. I could be saved when my pension kicks in from the UK but it would be nice to get more reassurance from Motour.

I am keeping my fingers crossed for that promise of PR at renewal time.

Am I missing something here?
Loopi.

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Hi

I tried it but I feel that it has some flaws.

For starters there is no option for a single person application.

Now if you earn interest from your savings/term deposit then is the item to be entered under  4. What is your gross annual income (salary/pension) (USD) ? Annual income or under 5. What is your total savings (USD) ? under Annual interest ? ..  If the interest is classified as an income then why is there this column under 5.?  It matters as income under 5 is not taken into account.

Perhaps there should be a box called self-funded retirees under 2.   What is your current employment Status ?

... and what actually is security under question 5? Is it equity?

Any opinions?

Cheers

rag

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US $ 34300 in Income and 100,000 in any one of the other savings (be it cash, FD, shares, Stocks ...) gets you in.
That's the minimum I found.

Another combination is income of US$ 34,300 and Assets in Malaysia of US$ 350,000

I tried to put the 35,000 under annual interest and income at $0, and not eligible, but put it under income and interest at $0 and you're in.

Just gives you an idea what they are looking for I guess.

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All the information we have so far is that your renewal conditions are exactly the same as your original conditions when you were first granted your MM2H visa.

If anyone has experienced anything different then please post here.

However the gist of this thread is:- what happens if ones situation changes so that we can no longer show or meet the required financial criteria. Now that is a critical question.

Again if anyone has had any experience...please share it here.

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Its a bit strange that everything has to be quoted in US dollars, why not ringitt?

Fear not the US$ is predicted to fall by around 30% when the quantitive easing presses seize up due to running 24/7. That means non US citizens can increase their earnings by a similar amount.

That should take a few folks over the requirement level.

By the time that most of us come up for renewal the £ will be worth a tube of smarties and the US$ will be insulating my roof.

Regards

Bob

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Hi loopi

You hit the spot! Yes, what happen if one sold everything lock  stock and  barrel to MY and in 10 years, the renewal is denied, then you're in your 70's may be 80's,  you have to relocate again.Who need this crap at that age.

As to the evaluation test, most of us do not have a pension of US$3,000 (RM10,000) when we retire, the average retirement is around US$1,200 to $1,600 but most of us have a house , 401k and stock.
These are the important portfolia to support our retirement.  Why is the RM10,000/month income is so essential to the evalution. I can be asset rich but income poor and I am not qualified. It does not make sense.

Can anyone enlighten me?

Gin

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Good point.  I actually have a government pension in excess of $3000 a month from the state teacher's retirement system.  But I do not own any property or any stock (except an annuity that's lost 50% of its value- now worth just $12000).  I guess I'm an exception to most retirees here in the US who are on social security or have a devalued 401.  But I do support all efforts to loosen up the financial requirements for entry into the MM2H program...Jim

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hi,

Many thanks Steph for spotting the eligibility test. I'll copy and post tomorrow, and we can all have a go. I've just arrived back in Malaysia, and after 14 months away my place needs scrubbing, mold, and gekko droppings everywhere. The joys of being surrounded by jungle.

regards, Scott

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Welcome back Scott. Is it nice to be home??