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MM2H Terms Conditions

 

The terms and conditions fixed for the MM2H programme is that it is open to all countries recognized by Malaysia but have stipulated requirements which include a minimum monthly income, minimum liquid assets, a fixed deposit, plus various other rules, held by the applicants. The exclusion of foreign spouses of Malaysian citizens was removed in February 2009 and they are now allowed to apply for the MM2H visa. 
 
The company Borneo Vision (MM2H) Sdn Bhd is an approved agent for the programme. If you use an agent, they facilitate you in making the initial application without even coming to Malaysia. You will only have to be in Malaysia, after the letter of “conditional approval” is issued and you complete the remaining conditions and collect the visa.
 
 
UPON APPLICATION – FINANCIAL REQUIREMENT FOR MM2H
Applicants are required to show they have sufficient financial resources to live in Malaysia, without seeking employment or other assistance from the government.
 
Applicants under 50 are required to show liquid assets above RM 500,000 and a monthly income of over RM 10,000 (equivalent).
 
Applicants over 50 have show assets over RM 350,000 and monthly income of RM10,000. Applicants receiving a government pension over RM 10,000 a month will be exempted from making the Fixed Deposit (see next section)
 
Acceptable liquid assets for people over 50 include cash in the bank, bonds and securities.
 
UPON APPROVAL- FIXED DEPOSIT REQUIREMENT FOR MM2H
Approved applicants over 50 receiving a pension from a Government in excess of RM10,000 a month can request exemption from making the Fixed Deposit. All others have to make a Fixed Deposit as follows:
 
i) MM2H Applicants aged below 50 years old:
• must place a Fixed Deposit in a bank account in Malaysia of RM 300,000
• can withdraw up to RM150, 000 for the purchase of house, medical insurance or children’s education expenses after the deposit has been placed for one year
• Applicants can use their car purchase grant to withdraw part of their Fixed Deposit after two years.
• must maintain a minimum balance of RM 150,000 from second year onwards and throughout stay in Malaysia under this programme.
 
 
ii) MM2H Applicants aged 50 years and above:
•  Must place a Fixed Deposit in a bank account in Malaysia of RM 150,000
•  Can withdraw up to RM 50,000 of the fixed deposit after one year to purchase of house, medical insurance or children’s education expenses.
•  Applicants can use their car purchase grant to withdraw part of their Fixed Deposit after two years.
•  Must maintain a minimum balance of RM 100,000 throughout their stay in Malaysia under this programme.
 
 
iii) MM2H Applicants who have purchased a house (or houses) with a total value of RM1 million and above.
•  Must show evidence of ownership and full payment of the property.
•  Must have been purchased within 5 years of application for MM2H visa.
•  Will have to place a Fixed Deposit in a bank account in Malaysia of RM 150,000 if under 50 years of age, and RM 100,000 if over 50 years of age
 

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