Those who want to apply for MM2H know the basic benefit of the programme, which is a 10-year stay in the nation followed by renewal if the applicant wants to extend his/her stay. Citizens from any country are welcome in Malaysia irrespective of their age, gender, religion and race. However, you must know a few factors that are more crucial before applying for the MM2H visa. What are these factors? Let's find out.
Are You Eligible to Apply for Permanent Residency?
MM2H visa allows a longer period for making a social visit to Malaysia. Can this visa be treated equivalently to permanent residence visa? MM2H visa is not a permanent residence visa. You can apply for permanent residency once you complete the second term of the renewal process. However, the procedure for getting permanent residency is a lengthy process. It may take a long time. You may never need to get into the critical procedure of permanent residency, as easy renewal facility is available in the MM2H program after every 10 years.
People submit MM2H visa application mainly for two reasons. As the visa has renewal facilities, you can use the visa to spend your retired life in the country. Secondly, MM2H visa allows people to reside and leave the country number of times. You are not required to approach the concerned authorities before travelling out of the country. In addition, the cost of living in Malaysia is comparatively cheaper than the US and European countries. Therefore, you can live in Malaysia and enjoy its superior hospitality, culture and natural splendor.
Can MM2H Visa Holder Stay in Sabah and Sarawak?
MM2H visa applicants can reside in any part of Malaysia except Sarawak and Sabah. If someone wants to stay in these places, fresh visa application has to be submitted. It depends on the local governments of those areas, whether to grant immigration or not.
However, you need to decide first whether you want to stay Peninsular Malaysia or in those two places and accordingly things can be chalked out. Once your application is approved, you will receive a 90-day tourist visa. You need to have a valid identity card when you enter Sabah or Sarawak. Both these areas were annexed to Malaya to form Malaysia in 1963.
What Financial Strength and Monthly Income Are Required To Apply for MM2H Visa?
As per MM2H requirements, an applicant has to display his or her financial strength. Financial strength should be shown in the form of liquid assets.
Those who are aged below 50 years must open a fixed deposit of RM300,000 in a bank operating in Malaysia. If you are above 50 years-of-age, you have two options. You can open a fixed deposit worth RM150,000 in a Malaysian bank or show that you receive a government pension, which is equivalent to RM10,000 per month.
If a person has purchased a property the value of which is more than RM1 million and has paid the entire amount, then the visa application will get some reduction benefit for fixed deposit.
These are some of the facts that you should know before applying for MM2H visa. This visa is not a permanent residency visa, but can be renewed every ten years.
Martin Wynn
