This tropical paradise offers an incredible opportunity to live the dream with the Retirement Visa Program in Malaysia. Imagine waking up every day to the sound of waves crashing on the shore, strolling on a pristine beach, and dining on delicious local cuisine.
Retirement Visa Program offers long-term residency for foreigners aged 50 and above with no minimum stay requirements and hassle-free application process.
What Is Malaysia Retirement Visa ?
Malaysian retirees who are accepted into the MM2H program will receive a ten-year visa. After your visa expires, you can apply to renew it indefinitely. Your income is tax-free. The MM2H program grant retirement visa holders a ten-year (renewable) visa. Once the visa expires, retirees can apply for renewal indefinitely.
Eligible For a Retirement Visa in Malaysia
The following requirements must be met to qualify for a retirement visa in Malaysia:
- A minimum age of 35 is required.
- It is important that you support yourself while you are in Malaysia.
- In order to qualify, applicants under the age of 50 must have liquid assets worth at least RM 500,000 (approximately USD 118,500) and an offshore income of at least RM 10,000 (approximately USD 2,370) per month.
- To be eligible for the program, you need to have at least RM 350,000 (about USD 83,000) in liquid assets and RM 10,000 (about USD 2,370) in offshore income each month, if you are over the age of 50.
- It is necessary for you to have a clean criminal record.
Malaysian Retirement Visa Cost
The fees for a Malaysian Retirement visa are as follows:
| Principal |
$1,400 |
| Dependents (spouse/children) |
$300 (for each dependent) |
How to Apply For Malaysia Retirement Visa?
- Step 1: Start the application process by visiting Malaysia My Second Home’s official website.
- Step 2: The MM2H website has all the necessary forms that need to be printed out and filled out according to the instructions. The MM2H website also has instructions on how to sign the application form.
- Step 3: Application forms and required documents must be submitted to an MM2H Center. You can either drop them off in person or send them by courier.
- Step 4: You must wait for the MM2H visa to be approved.
Documents Required for Malaysia Retirement Visa
- Please provide a copy of your passport page (visa page and entry stamp page) in addition to your valid original passport.
- Conditional approval letter original and copies.
- Malaysia retirement visa application form.
- A passport-sized photograph with a blue background that meets Malaysia Visa Photo Requirements.
- Financial proof that you can support yourself in Malaysia. Your bank statements must show that you have access to at least RM 350,000 (for those over 50 years of age) and RM 500,000 (for those under 50 years of age).
- You must provide proof of your pension status, such as a pension verification letter (if applicable).
- Medical insurance proof for your stay in Malaysia.
- The relevant authority in your country (e.g. the police) must issue you a letter of good conduct.
- Individual/agency representative letter for MM2H company (if applicable).
- Your identity and address documents, if any.
Malaysia Retirement Visa Requirements
You must meet the following requirements to apply for the MM2H scheme and get your 10-year multi-entry visa for Malaysia.
If you’re over 50, you need to provide proof of:
- A RM 10,000 offshore income
- An amount of RM 350,000 is available in liquid assets
If you are selected for the programme, you must make a fixed deposit of RM 150,000 in a local Malaysian bank. You can withdraw some money after the second year, but you must keep at least RM 100,000 throughout your stay.
Under 50s need to show proof of:
- RM 10,000 in offshore income
- RM 500,000 worth of liquid assets.
A RM 300,000 initial Malaysian bank deposit is required once you are approved, plus you must maintain a RM 150,000 balance throughout your stay.
To be accepted for the MM2H scheme, you will need to provide a lot of paperwork, including (but not limited to):
- Proof of medical insurance for your stay in Malaysia
- Certified copies of pension verification letters
- Verification of bank statements
- All documents relating to identity and address verification.
Can I Bring My Dependents To Malaysia With A Retirement Visa?
With a retirement visa, Malaysia allows you to bring family members with you. These family members include:
- You and your legal spouse
- Unmarried children under 21
In the same way that you apply for the retirement visa, you can apply for a social visit pass for them. The application procedure is the same, but you will be required to provide additional documents for each family member.
If their visa is approved, your family can move in with you and share the same rights as Malaysian citizens (work, study, etc.).
After The Retirement Visa Is Approved
If the Malaysian Department of Immigration approves your retirement visa application, you must travel to Malaysia to collect your Conditional Approval Letter. Other requirements include:
- A medical report from a Malaysian private hospital or clinic must be submitted by you and your dependents.
- Medical insurance coverage from any insurance company is required for Malaysia.
- Direct security bonds range from RM 200 to RM 2,000 (approx. USD 47 to USD 470) depending on your nationality. A personal bond is required for applications via licensed companies.
FAQs About Malaysia Retirements Visa
Q1) How much money do I need to retire in Malaysia?
Ans:- To maintain your pre-retirement standard of living, you need two-thirds of your final drawn income. For example, if you make RM12,000 a month in your final year of work, expect to need RM8,000 a month after withdrawing.
Q2) Does Malaysia offer a retirement visa?
Ans:- If you are accepted into the MM2H program, you will receive a ten-year (renewable) visa. After your visa expires, you can apply to renew it indefinitely.
Q3) How much does it cost for retirees to live in Malaysia?
Ans:-Malaysian work permits now include the Malaysia Residence Pass Talent (RP-T), which is a fairly recent addition. In addition, the spouse and children of a Residence Pass holder can come to Malaysia if they are under 18 and they are not dependent on a specific employer. The Residence Pass can be renewed for up to ten years.
CONCLUSION
With its seamless application process, tax-free income, and family inclusion, the Malaysia Retirement Visa program is a captivating opportunity to savor Malaysia’s beauty and tranquility.
