October 10th, 2023 at 10:58 am

Retirement Visa for Malaysia

Malaysia attracts retirees from all over the world because of its stunning scenery, pleasant weather, mouthwatering cuisine, and reasonably priced cost of living. The stunning nation in Southeast Asia is ideal for those seeking a calm and leisurely lifestyle.

However, you will need to apply for a Malaysian retirement visa in order to reside in Malaysia as a retiree.

The government-sponsored Malaysia My Second Home (MM2H) program enables retirees to stay in Malaysia on a multiple-entry social visit pass for as long as feasible.

Who in Malaysia can apply for a retirement visa?

In order to be eligible for a retirement visa to Malaysia, you need to meet the requirements listed below:

• You have to be at least thirty-five years old.
• You have to be self-sufficient while visiting Malaysia.
• You need to have liquid assets of at least RM 500,000 (about USD 118,500) and an offshore income of at least RM 10,000 (around USD 2,370) per month if you’re under 50.
• If you are over 50, you need to have a minimum of RM 350,000 (about USD 83,000) in liquid assets and a minimum of RM 10,000 (almost USD 2,370) in offshore income per month.
• Your criminal record ought to be spotless.

Can a retirement visa allow me to bring my dependents to Malaysia?

Yes, if your family member has a retirement visa, you are allowed to bring them to Malaysia. Among the family members are:

• Your spouse by law
• Children (unmarried) under the age of 21

When you apply for a retirement visa, you can also apply for a social visitation pass for them. The application process is the same for all family members, but you will need to provide extra paperwork for them.

Your family can move in with you after their visa is approved, and they will have the same rights as Malaysian residents in terms of employment and education.

Malaysia Retirement Visa Benefits

Getting a retirement visa in Malaysia comes with a lot of advantages.

• A renewable visa of ten years. Upon acceptance into the MM2H program, retirees will be granted a ten-year visa. You can request to have your visa extended indefinitely once it expires.
• Income is free of taxes. You won’t pay taxes on any money you send to Malaysia. Payments of foreign monies into Malaysia, including other foreign funds moved into Malaysia, are exempt from taxes. Large money transactions must be reported in accordance with Malaysian regulations, so make sure to do so.
• You are able to buy a home. Depending on where you choose to reside, you can buy a home for more than $237,000. But before you can make any purchases, you have to have state approval.
• A car can be imported or purchased. As long as they abide by the terms and regulations, MM2H participants are permitted to import a pre-owned private vehicle or buy a new vehicle that has been constructed locally.

1. A new locally constructed car (CKD) or a pre-owned private vehicle (CBU) must be purchased or imported for a total of $35,550.
2. Applications must be submitted within two years of the MM2H visa’s approval date.

• You are able to invest and run a firm. As Directors, MM2H members are permitted to own their own companies. Additionally, you can invest in unit trusts, share markets, and local businesses.
• You can hire a housekeeper. In accordance with the current immigration department regulations in Malaysia, you are permitted to apply for one domestic assistant.
• You are able to obtain an education. You can register at Malaysian private colleges and universities during this time, along with any family members who are traveling with you.

How Do I Apply for a Retirement Visa to Malaysia?

The following is how to apply for a retirement visa to Malaysia:

• Go to Malaysia’s official website Launch My Second Home to begin the application process.
• Print all of the online forms, then fill them out by following the MM2H website’s instructions. At the end, the application form needs to be signed.
• Send the application to a center for MM2H. The application forms must be delivered in person or by courier to an MM2H Center, together with the necessary paperwork. Under “Documents Required for a Malaysia Retirement Visa,” you may see the documentation you must submit.
• Await the approval of the MM2H visa.

Note: You can use the Malaysia My Second Home website to submit the application yourself. To assist you with the application process, you may also choose to work with a retirement agency; however, before you do so, confirm that the agency has a license from the Ministry of Tourism, Arts, and Culture.

Documents Needed to Get a Retirement Visa for Malaysia

The following paperwork is required to be submitted with your application for a retirement visa to Malaysia:

• A copy of each page of your valid original passport, including the pages pertaining to your entry stamp and visa.
• The letter of conditional approval, both in original and duplicate form.
• The retirement visa application for Malaysia.
• One passport-sized photo that satisfies the Malaysia Visa Photo Requirements and has a blue background.
• Evidence that you can sustain yourself financially in Malaysia. In order to prove you have access to at least RM 350,000 (if you are over 50) or RM 500,000 (if you are under 50), you must provide the three most recent months’ worth of bank statements.
• Documentation proving your pension status, such as a letter of pension verification (if applicable).
• Verification of your Malaysian health insurance during your visit.
• A letter of good behavior from the appropriate government agency in your nation (such as the police).
• Letter of intent for an individual or agency to represent the MM2H company (if appropriate).
• Any other identity and address documents that are necessary.

Note: The Institute of Language and Literature, as well as the Malaysian Embassy or Consulate General overseas, should translate all documents into English.

Documents Needed to Get a Retirement Visa for Malaysia

The following paperwork is required to be submitted with your application for a retirement visa to Malaysia:

• A copy of each page of your valid original passport, including the pages pertaining to your entry stamp and visa.
• The letter of conditional approval, both in original and duplicate form.
• The retirement visa application for Malaysia.
• One passport-sized photo that satisfies the Malaysia Visa Photo Requirements and has a blue background.
• Evidence that you can sustain yourself financially in Malaysia. In order to prove you have access to at least RM 350,000 (if you are over 50) or RM 500,000 (if you are under 50), you must provide the three most recent months’ worth of bank statements.
• Documentation proving your pension status, such as a letter of pension verification (if applicable).
• Verification of your Malaysian health insurance during your visit.
• A letter of good behavior from the appropriate government agency in your nation (such as the police).
• Letter of intent for an individual or agency to represent the MM2H company (if appropriate).
• Any other identity and address documents that are necessary.

Note: The Institute of Language and Literature, as well as the Malaysian Embassy or Consulate General overseas, should translate all documents into English.

Upon approval of the retirement visa

You have to come to Malaysia to pick up your Conditional Approval Letter in person once your Retirement visa application has been approved by the Malaysian Department of Immigration. Following approval of your Malaysian retirement visa, additional criteria are as follows:

• Any medical report from a private hospital or licensed clinic in Malaysia must be submitted by you and your dependents.
• You need to have health insurance from any insurance provider that is valid in Malaysia.
• If you apply directly, you will need to provide a direct security bond, which, depending on your country, can be anywhere between RM 200 and RM 2,000 (about USD 47 and USD 470). Applications made through licensed businesses need the business to offer a personal bond for its customers.

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