Requirements To Qualify
DO YOU QUALIFY? THE BASIC FINANCIAL REQUIREMENTS.
Required monthly income; required liquid assets (cash in bank) and the Fixed Deposit to be made after approval.
The above numbers are the official requirements. The following charts are for convenience only, and show the approximate equivalent amounts in major international currencies. These are based on exchange rates at the beginning of 2020
Regardless of age, applicants must show they receive an average monthly income equivalent to RM10,000 a month. If it is salary or pension then 3 months income have to be shown. If is dividends then a longer period is required and it can be averaged out to show the effective monthly income. Rental income is also acceptable although they will check the period of tenancy agreement.
The government want to see that applicants have a reasonable amount of liquid assets. This has to be cash in the bank. As shown in the charts, the requirement for people aged 50 and over is the equivalent of RM350,000 and for people under 50 it is RM500,000
Fixed Deposit Rules
All applicants have to make a Fixed Deposit based on their age, as follows:
i) MM2H Applicants aged below 50 years old:
- Must place a Fixed Deposit of RM350,000 in a bank, in Malaysia.
- Can withdraw up to RM150,000 for the purchase of house, car, medical insurance or children’s education expenses after the deposit has been placed for one year.
- Must maintain a minimum balance of RM150,000 from second year onwards and throughout stay in Malaysia under this programme.
- Can only withdraw the balance, with approval, after they exit the MM2H programme
ii) MM2H Applicants aged 50 years and above:
- Must place a Fixed Deposit of RM150,000 in a bank, in Malaysia.
- Can withdraw up to RM50,000 of the fixed deposit after one year to purchase of house, car, medical insurance or children’s education expenses.
- Must maintain a minimum balance of RM100,000 throughout their stay in Malaysia under this programme.
- Can only withdraw the balance, with approval, after they exit the MM2H programme.
It should be noted that the rules shown in this website are for west Malaysia only. The rules and requirements for Sabah and Sarawak are different as those two states are allowed some autonomy in these matters. If you plan to live in either of these states you need to find a local agent based in the state.. You can find them listed in the government website www.MM2H.gov.
SEE “APPLICATION PROCEDURES” FOR INFORMATION ON HOW TO APPLY
If you have other questions about MM2H or would like us to be your agent, please contact us through our free Help Desk. Our company Borneo Vision (MM2H) Sdn Bhd is an approved agent for the programme. We can submit your application without you being here. You only need to come to Malaysia when it is approved. Check out “Six reasons to use us as your agent”.