Frequently Asked Questions :
Financial related:
It is possible to meet the monthly income requirement by combining multiple income sources such as salaries, pensions, rental income, dividends, or any other legitimate sources of income.
Yes, a joint account with your spouse can be considered as a liquid asset for the MM2H application, as long as your spouse is included in the application.
The fixed deposit requirement for the MM2H program is only applicable to the main applicant. Dependents, including both adults and children, are not required to make a separate fixed deposit. However, the total fixed deposit amount is increased by RM50,000 per dependent when dependents are included in the application.
No, Banks often split the fixed deposit into multiple placements, each below the RM 100,000 threshold, to maximize the tax exemption. This means you can keep the full amount of interest earned without any deductions.
Currently, the average interest rate is around 2.0 percent and may vary from bank to bank. You are allowed to keep the interest earned on the fixed deposit, providing you with additional income during your stay in Malaysia.
Participants are generally not allowed to withdraw the fixed deposit during the one-year period, unless in cases of emergency and with prior approval from the respective department. The fixed deposit serves as a financial commitment to demonstrate your ability to support yourself during your stay in Malaysia.
Employment & Education related:
Yes, participants of the MM2H program are allowed to own a business in Malaysia. As a participant, you can become a Director or Shareholder of the company.
Yes, if your children are wish to pursue their education in Malaysia, they will need to apply for a student pass. As an approved consultancy company for the MM2H program, we can assist you in the process of applying for permission for your children to study in Malaysia.
Yes, children below the school-going age, which is 7 years old, are required to apply for a Student Visa to attend kindergarten in Malaysia. However, only the state of Johor issue student pass to children age 3-7 years of age.
Property related:
No, the MM2H program does not require participants to purchase a property.
Foreigners participating in the MM2H program have the flexibility to purchase both new and second-hand properties. However, it is important to note that each state in Malaysia has its own regulations regarding property purchases by foreigners.
No, the purchase of a house in Malaysia valued more than RM1,000,000 cannot be considered as fulfilling the financial criteria for the MM2H program. Participants are still required to fulfill the fixed deposit requirement or demonstrate the monthly offshore income.
Other related:
No, the option to import or buy tax-free cars is no longer available under the MM2H program.
The duration of the application process varies, but it typically takes around 6 to 9 months depends on the authorities. Our consultancy company will guide you through each step, ensuring a smooth and timely application.
To complete the endorsement process, you need to stay in Malaysia for a minimum of 3 days. The typical itinerary is as follows:
– Day 1: Undergo a medical check-up, apply for medical insurance, and open a fixed deposit account. Your passport will be kept by our team during this process.
– Day 2: Immigration office for the endorsement procedure.
– Day 3: Your passport, with the MM2H visa endorsed, will be returned to you.
Yes, you can terminate your MM2H visa at any time. To proceed with the termination, you will need a termination approval letter from the MM2H office. Regarding your fixed deposit in the local bank, it can be withdrawn upon completion of the termination process.