Successful applicants are required to comply with the following financial criteria upon receipt of the conditional approval letter from the Malaysian Immigration Department:
1. Aged Below 50 years
- Open a fixed deposit account of RM300,000.
- After a period of one year, the participant can withdraw up to RM240,000 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
- The participant must maintain a minimum balance of RM60,000 from the second year onwards and throughout their stay in Malaysia under this programme.
2. Aged 50 years and above
Can either choose to:
a) Open a fixed deposit account of RM150,000
b) Or show proof of monthly offshore income of RM10,000, such as pension scheme.Only applicants who are drawing from Government Approved Funds can be considered for the monthly offshore Income criteria
After one year, participants who fulfil the fixed deposit criteria can withdraw up to RM90,000 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.
The participant must maintain a minimum balance of RM60,000 from the second year onwards and throughout their stay.
Applicants who have purchased and owned residential property which were bought at RM1 million and above in Malaysia are eligible to apply for exemption from placing the full FD amount required of MM2H participants. They only have to comply with the basic financial requirement of FD or RM 60,000. This amount may not be withdrawn until the termination of their participation in the MM2H programme.
Things to take note
- Fixed deposits are to be in Ringgit Malaysia (RM) only.
- Permission must be attained from the Ministry of Tourism before proceeding to withdraw the fixed deposit
- Permission must be attained from the Ministry of Tourism if participants wish to terminate their stay and withdraw the entire fixed deposit.
All applicants and their dependents (spouse and children) are required to submit a medical report from any private hospital / registered clinic in Malaysia.
Approved participants and dependents (spouse and children) must possess a valid medical insurance policy which is applicable in Malaysia.
Qualified MM2H participants aged 50 and above with specialised skills and expertise that are required in the critical sectors of the economy.
Conditions for working part time:
- Application is approved by the MM2H Special Committee;
- Work contract needs to state that the MM2H participant is working part time and to attach the work schedule; and
- Total number of hours per week does not exceed 20 hours.