1) How long does the approval/process for MM2H application takes?
Once a complete documents are given, then approximately it takes about two (2) to three (3) months to obtain the approval. You are given six (6) months to prepare for endorsement of the residence visa.
2) What are the main criteria for this MM2H application?
Two (2) criteria. First, you have to prove income of at least RM10,000-00 per month equivalent. Second, you have to show liquid assets of RM350,000-00 equivalent (for above 50 years old), and RM500,000-00 equivalent (for below 50 years old).
3) Who can I include in my application?
Your application can include your wife and children below 21 years old. You can only include your parents after obtaining the residence visa. However, your parents visa is only for six (6) months. Thus, your parents need to renew their visa every six (6) months if they wish to stay in Malaysia longer.
4) How much do I have to deposit/investment under the program?
Once the approval given to you, you are required to open an account with a bank and deposit RM150,000 (for above 50 years old) and RM300,000 (for below 50 years old).
5) When can I withdraw the Fixed Deposit under the program?
You cannot touch the Fixed Deposit for one (1) year. After one (1) year you may withdraw part of the Fixed Deposit by producing related documents for purchase of house, car, child education and medical expenses.
6) Will my income from outside Malaysia be tax?
No, income bring in from outside Malaysia will not be tax. Only income derived from Malaysia will subject to Malaysia Income Tax Act.
7) Can I bring my pet along with me under this program?
Yes, but the pet is subject to quarantine. You may also bring along your personal belonging, maid and car tax free.
8) Why should I choose Malaysia as a residence place?
Many participants came under this program for various reasons. Some are for the children education, low cost of living, tropical weather, escape from their country political instability, retirement, tax benefits, business proximity and many more.
9) Why should I choose your company as my agent?
First of all, we are licensed by the Government. We are efficient and experience (more than 10 years). We know what the government is looking for. Our approval rate is very high. And of course we also act as your sponsor under the program. Finally, we can safe you a lot of energy, time and money.
10) What can I do under the program?
You can registered a company and operate your own business in Malaysia. If you are above 50 years old, you are allow to work 20 hours a week but subject to the Ministry approval. Otherwise, you are not allow to work under the program.
11) Do I need to purchase a house under the program?
No, purchase of house is not a prerequisite under the program. However, if you purchase a house you are able to withdraw part of the Fixed Deposit placed under the program.
12) Is there a required minimum stay under the program?
No, there is no minimum stay in the program. Once you are in the program you can stay one (1) day in Malaysia or 365 days in Malaysia as long as the visa is still valid. If you are too busy in your country of origin, you can even stay away from Malaysia for the entire duration. However, you are advise to come back to Malaysia for transfer of the visa when you have a new passport.