1. What is a Retirement Visa in Malaysia?

A Retirement Visa in Malaysia is a special visa that allows foreign nationals who are 50 years and older to retire in Malaysia. It has a validity of 10 years and can be renewed every 10 years as long as the applicant meets the necessary requirements. This visa is also known as the “Malaysia My Second Home” (MM2H) program.

2. What are the benefits of obtaining a Retirement Visa in Malaysia?

Some of the benefits of obtaining a Retirement Visa in Malaysia, also known as the “Malaysia My Second Home” program, include:

– Long-term stay: The visa allows for a long-term stay of up to 10 years in Malaysia, with multiple entries allowed.
– No minimum stay requirement: Unlike other retirement visas in different countries, there is no minimum stay requirement for MM2H visa holders in Malaysia.
– Employment opportunities: While the main purpose of this visa is retirement, there are opportunities for part-time employment or starting a business.
– Tax incentives: MM2H participants may be eligible for tax incentives on certain categories such as car ownership and importation of household goods.
– Property ownership: The MM2H program allows individuals to purchase residential properties at lower prices compared to foreigners without the visa.
– Healthcare access: Retirees with an MM2H visa can access healthcare services at government hospitals at discounted rates.
– Education benefits: Children accompanying retirees with this visa can study in local international schools and universities under the same fees as Malaysians.

3. Who is eligible for a Retirement Visa in Malaysia?

The following individuals are eligible for a Retirement Visa or MM2H program in Malaysia:

– Foreign nationals aged 50 years old and above
– With good financial standing and holding ample assets (minimum net worth of RM350,000)
– Have sufficient liquid assets or regular income to support their lifestyle during their stay in Malaysia (minimum monthly income of RM10,000)
– Able to provide a fixed deposit of RM150,000 placed in a Malaysian bank account after approval of the application
– In good health and have medical insurance coverage during their stay in Malaysia
– Free from any criminal records

4. How can one apply for a Retirement Visa in Malaysia?

The application for a Retirement Visa or MM2H program in Malaysia can be done through the MM2H website or through an authorized agent. The following documents are typically required for the application process:

– Completed application form
– Passport-size photos
– Copies of passport or travel documents
– Financial statements or income proof
– Medical report from a recognized clinic or hospital in Malaysia
– Letter of good conduct from relevant authorities in home country
– Evidence of sufficient funds (i.e. fixed deposit certificate)
– Other supporting documents as required by the Immigration Department

5. How long is the processing time for a Retirement Visa in Malaysia?

The processing time for a Retirement Visa or MM2H program in Malaysia may vary, but it usually takes around 6 months to 1 year. It also depends on the completeness of the required documents and other factors such as the applicant’s country of origin.

6. Can a Retirement Visa holder work in Malaysia?

While retirement is the main purpose of obtaining this visa, there are opportunities for part-time employment or starting a business under certain conditions. Retirees with an MM2H visa can apply for permission to work at specified companies or positions through the Immigration Department.

7. Can family members be included under a Retirement Visa in Malaysia?

Yes, family members including spouses, children below 21 years old, and parents above 60 years old can be included under an MM2H visa as dependents. They must meet specific requirements such as having sufficient financial support and medical insurance coverage.

8. Can I convert my existing visa into a Retirement Visa in Malaysia?

No, individuals with any other type of visa in Malaysia cannot convert it into a Retirement Visa or MM2H program. They must exit the country and apply for the visa from their home country or another country they have legal residency in.

9. Can a Retirement Visa holder purchase property in Malaysia?

Yes, MM2H participants can own residential properties at lower prices compared to foreigners without the visa. However, there may be restrictions on purchasing certain types of properties such as agricultural land.

10. What are the conditions for renewing a Retirement Visa in Malaysia?

To renew a Retirement Visa or MM2H program, participants must meet the following conditions:

– Stayed in Malaysia for at least 90 days per year during each of the previous 10 years
– Maintain the minimum fixed deposit amount (RM150,000)
– Comply with all immigration laws and regulations
– Possess valid medical insurance coverage

Renewal applications must be submitted at least 3 months before the expiry date of the current visa.

2. Who is eligible for a Retirement Visa in Malaysia?

The following groups of people are eligible for a Retirement Visa in Malaysia:

1. Foreign individuals aged 50 years old and above.
2. Those who have the financial means to support themselves without working.
3. Individuals who have proof of a fixed deposit account with a local bank in Malaysia with a minimum balance of MYR 150,000 (~USD 36,000).
4. Those who have monthly income of at least MYR 10,000 (~USD 2,400) from outside Malaysia.
5. Retirees receiving their pension from their own government or other sources, with a minimum amount of MYR 10,000 (~USD 2,400) per month.
6. Applicants must have valid medical insurance coverage for their entire stay in Malaysia.

Note: The requirements may vary depending on the specific type of Retirement Visa being applied for (e.g. Malaysia My Second Home Program). It is recommended to check with the relevant authorities for the most up-to-date information and requirements.

3. Can I work while on a Retirement Visa in Malaysia?

Yes, you can work while on a Retirement Visa in Malaysia. However, there are certain restrictions and conditions that must be met. For example, you are only allowed to work part-time and your employer must obtain a valid work permit for you. It is recommended to consult with the Immigration Department of Malaysia for more specific information and requirements for working on a Retirement Visa.

4. How long does the Retirement Visa last?

The Retirement Visa, also known as the Non-Immigrant O-A Visa, initially lasts for one year. After that, it can be extended annually as long as the visa holder meets the requirements of proof of income or funds and has a valid passport.

5. Is there an age limit for the Retirement Visa in Malaysia?

There is no specific age limit for the Retirement Visa in Malaysia. However, applicants are required to show proof of sufficient financial resources and health insurance coverage. Therefore, older applicants may have a harder time meeting these requirements.

6. What are the financial requirements for a Retirement Visa in Malaysia?

The financial requirements for a Retirement Visa in Malaysia are as follows:

1. A monthly income of at least MYR 10,000 (or equivalent in foreign currency) from overseas pension or other sources, or a fixed deposit with a minimum balance of MYR 150,000.

2. Proof of a fixed deposit account with an eligible bank in Malaysia issued under the Retiree Visa Programme, with a minimum balance of MYR 150,000 and a commitment to maintain the balance for at least one year after obtaining the visa.

3. Submission of recent bank statements as proof of regular income from external sources that meet the minimum financial requirement.

4. For applicants aged 50-59 years old, they must provide evidence of assets worth at least MYR 300,000 in Malaysia under their name or their spouse’s name.

5. For applicants aged 60 and above, they must show that they have assets worth at least MYR 150,000 under their name or their spouse’s name.

6. It is important to note that these financial requirements may vary depending on the state you plan to reside in Malaysia, so it is best to check with the relevant authorities for specific information.

7. Will I need to have health insurance to be eligible for a Retirement Visa in Malaysia?

Yes, you will need to have valid health insurance coverage in order to be eligible for a Retirement Visa in Malaysia. The Malaysian government requires all foreign retirees to have medical insurance that covers hospitalization and outpatient treatment for their entire stay in the country. This is to ensure that retirees have access to adequate healthcare and will not become a burden on the local healthcare system.

8. Can I bring my spouse and dependents with me on this visa?

Yes, you can bring your spouse and dependents with you on this visa. Your family will also need to apply for a dependent visa and provide supporting documentation such as marriage certificates and birth certificates for your children.

Your spouse and dependents will also need to meet the eligibility criteria for the dependent visa, such as having a valid relationship with you and sufficient funds to support themselves during their stay in the country. It is always best to check with the specific requirements of the country you are applying for before making travel plans.

9. Do I need to have a certain amount of savings to be eligible for the Retirement Visa?

Yes, one of the requirements for the Retirement Visa in Thailand is to have a minimum amount of savings. Currently (as of 2021), the required amount is at least 800,000 Baht (around $26,000 USD) in a Thai bank account or a monthly income of at least 65,000 Baht (around $2,100 USD) from a foreign country. This requirement may vary depending on your nationality and the visa category you apply for. It is best to consult with the Royal Thai Embassy or Consulate in your home country for specific information and requirements.

10. How do I apply for a Retirement Visa in Malaysia?

To apply for a Retirement Visa (also known as Malaysia My Second Home or MM2H), you will need to follow these steps:

1. Determine your eligibility: You must be 50 years old and above, have a clean criminal record, good health, and meet the financial requirements.

2. Prepare documents: You will need to prepare the following documents:
– Letter of application
– Personal data form
– Form IMM 12 (Social Visit Pass)
– Passport with at least six months validity
– Resume/CV
– Four passport-sized photo (35mm x 50mm) on white background
– Marriage certificate (if applicable)
– Birth certificates of children (if applicable)
– Proof of income (pension statement, bank statement, etc.)
– Medical report from a recognized clinic/hospital in Malaysia

3. Submit your application: You can submit your application online through the MM2H website or through any licensed MM2H agent.

4. Pay the application fee: The application fee is RM300 for a single applicant and RM500 for each dependent.

5. Wait for approval: Once your application is submitted, it will be subjected to review by the Immigration Department and can take up to six months for approval.

6. Open a fixed deposit account: Upon approval, you will need to open a fixed deposit account in Malaysia with an authorized bank with a minimum amount of RM150,000.

7. Obtain medical insurance: You will need to obtain medical insurance coverage from any insurance company in Malaysia.

8. Endorsement of visa: Upon fulfilling all requirements, you can then proceed to endorse your visa at the Immigration Department in Malaysia within six months from the date of approval.

9. Pay visa endorsement fee: The visa endorsement fee is RM90 per year for each applicant and an additional processing fee of RM10.

10. Renewal/extension of visa: Your Retirement Visa can be renewed/extended every ten years. To renew your visa, you will need to show proof of sufficient funds in your fixed deposit account and medical insurance coverage.

Note: The requirements and procedures may vary depending on your country of origin. It is best to consult with an authorized MM2H agent for accurate and updated information.

11. What documents do I need to provide for the application?

The documents required for a visa application may vary depending on the country you are applying to and your specific circumstances. However, common documents that are typically required include:

1. Valid passport
2. Completed visa application form
3. Proof of travel arrangements (flight tickets, hotel bookings)
4. Proof of sufficient funds for the duration of your stay
5. Travel insurance
6. Letter of invitation (if visiting friends or family)
7. Employment verification or proof of income (if applicable)
8. Bank statements
9. Medical records and health insurance (if applicable)
10. Criminal record certificate (if applicable)
11. Passport-sized photos
12. Any additional documents requested by the embassy or consulate, such as a letter explaining the purpose and details of your trip.

It is important to check the specific requirements for your destination country before submitting your application as they may vary slightly depending on your nationality and reason for travel.

12. How long does it take to process the application for a Retirement Visa in Malaysia?

The processing time for a Retirement Visa in Malaysia can vary, but it typically takes 6-8 weeks. This may vary depending on the completeness of your application and the workload at the immigration office where you applied. It is recommended to submit your application well in advance to allow for any potential delays.

13. Can I leave and re-enter Malaysia multiple times on this visa?

No, the Social Visit Pass is a single entry visa, meaning once you enter Malaysia, you cannot leave and re-enter on the same visa. If you need to leave and re-enter Malaysia, you will need to apply for a new Social Visit Pass or obtain a different type of visa that allows multiple entries.

14. Are there any restrictions on where I can live with a Retirement Visa?

Yes, there are specific requirements for housing with a Retirement Visa. You must have a permanent address in Thailand and you may be required to provide proof of this address when applying for the visa. Additionally, if you wish to change your address while on the Retirement Visa, you must notify immigration authorities within 24 hours of the change. It is also important to note that, depending on your specific visa conditions, you may only be allowed to reside in certain designated areas or provinces in Thailand. It is best to consult with immigration authorities for specific details and restrictions regarding housing with a Retirement Visa.

15. Can I purchase property or invest in businesses while on this visa?

Yes, you can purchase property or invest in businesses while on this visa. You must follow all applicable laws and regulations for owning property or investing in a business in the country where you are located. You may also need to obtain additional permits or permissions from the relevant authorities. It is always recommended to consult with an immigration lawyer or financial advisor before making any significant investments while on a visa.

16. Will I need to pay taxes in Malaysia as a retiree with this visa?

Retirees holding the Malaysia My Second Home visa are required to pay taxes in Malaysia if they have income originating within the country. This can include rental income, business profits, or any other type of income earned within Malaysia. It is recommended to consult with a tax advisor for specific information regarding your personal tax obligations.

17. What happens if my circumstances change and I no longer meet the requirements for the Retirement Visa?

If your circumstances change and you no longer meet the requirements for the Retirement Visa, you must inform the immigration authorities and may be required to change to a different type of visa or leave the country. Failure to do so may result in penalties and possible deportation. It is important to constantly monitor your eligibility for the Retirement Visa and make any necessary changes as soon as possible.

18.Can my children attend school or university while on this visa?

Yes, your children can attend school or university while on this visa as long as they are eligible for primary, secondary, or higher education in the country where you will be residing. Depending on the age of your children and the specific country’s laws and regulations, they may need to obtain a student visa in addition to your dependent visa. It is best to check with the specific country’s embassy or immigration authority for more information.

19.What happens if my spouse passes away while we are living in Malaysia under this visa?

If your spouse passes away while living in Malaysia under this visa, you would need to inform the Immigration Department and apply for a change of status within 14 days. You may be required to provide documentation such as a death certificate and proof of your financial ability to continue living in Malaysia. If approved, you may be able to continue living in Malaysia until the expiration of your dependent pass.

20.Can I convert my retirement visa into a permanent residence permit?

Yes, you may be able to convert your retirement visa into a permanent residence permit. However, this process varies depending on the country and its immigration laws. Some countries require individuals to meet certain criteria and reside in the country for a certain amount of time before being eligible for permanent residency. It is best to consult with an immigration lawyer or your local embassy/consulate for specific guidelines and requirements.