Malaysia Retirement Visa – Eligibility, Requirements, How to Apply and More

Malaysia Retirement Visa - Eligibility, Requirements, How to Apply and More

In recent years, Malaysia has become a favorite retirement destination for retirees from all over the world due to its tropical climate, affordable living costs, and modern infrastructure. You can find the perfect balance between comfort, adventure, and relaxation in Malaysia, whether you prefer coastal living, vibrant city life, or peaceful countryside retreats.

In order to retire in Malaysia, you will need to apply for a Malaysia Retirement Visa, commonly known as Malaysia My Second Home (MM2H). From eligibility and benefits to retirement planning and the application process, here’s what you need to know.

What is Malaysia Retirement Visa

Malaysia My Second Home (MM2H) is a government-backed program aimed at attracting foreign retirees. With its 10-year, multiple-entry social visit pass, retirees can enjoy life in Malaysia with few restrictions.

Eligibility for the Malaysia Retirement Visa

The following criteria must be met in order to qualify for a Malaysian retirement visa under the MM2H program:

  • Age Requirement: At least 35 years old.
  • Proof of finances:
  • A person under the age of 50 Yrars:
  • There must be at least RM 500,000 in liquid assets (approximately USD 118,500).
  • Monthly offshore income of at least RM 10,000 (approximately USD 2,370).
  • Over 50 years of age:
  • Liquid assets of RM 350,000 (approx. USD 83,000).
  • A minimum of RM 10,000 in offshore income per month.
  • Clean Criminal Record: A police clearance certificate is required.
  • Health Insurance: A valid Malaysian health insurance card.

Malaysia Retirement Visa Costs

ApplicantFee
Principal ApplicantUSD 1,400
Each Dependent (Spouse/Child)USD 300

Malaysia Retirement Visa Required Documents

  • “Valid passport” (original + copies)
  • Fill out the MM2H application form
  • Passport-sized photographs (blue background)
  • Financial proof (last three months’ bank statements)
  • Providing proof of “Offshore Income“.
  • Obtaining a “Police Clearance Certificate” (Letter of Good Conduct)
  • Policy for “Medical Insurance“.
  • “Self-Application Letter” or “Letter From Agency Representative” (if self-applying)
  • Documents proving “Identity and Address“.
  • If a document is issued in a language other than English, it must be “Translated into English“.

MM2H Application Form PDF

mm2h-application-formDownload

Fixed Deposit Requirements After Approval

AgeFixed Deposit Requirement
50 and AboveRM 150,000 (approx. USD 35,550)
Below 50RM 300,000 (approx. USD 71,100)

Benefits of Malaysia Retirement Visa

BenefitDescription
Long-Term VisaThe visa is valid for 10 years and can be renewed, offering retirees stable and extended stay options.
Tax BenefitsForeign pension income and overseas funds remitted to Malaysia are not subject to local taxes.
Property OwnershipRetirees can purchase property in Malaysia, usually with a minimum value requirement, subject to local state regulations.
Vehicle IncentivesEligible to import a personal vehicle or purchase a new car in Malaysia with significant tax exemptions.
Business and Investment OpportunitiesVisa holders can establish or invest in businesses, unit trusts, and other approved sectors.
Healthcare AccessRetirees have access to Malaysia’s high-quality private healthcare services. Hiring domestic help is also permitted.
Education OptionsDependents of visa holders can enroll in Malaysian schools, colleges, or universities.

How to Apply for Malaysia Retirement Visa

  • Visit the “Official MM2H” Website
  • Complete the Application Form
  • Prepare Your Documents
  • Submit the Application
  • Await Approval: A Conditional Approval Letter will be sent once your application has been approved.
  • Fulfill Final Requirements:
  • You must submit a medical report from a Malaysian clinic that is registered.
  • Obtain Malaysian medical insurance.
  • Get a Malaysian bank account to open a fixed deposit.
  • An individual or company must provide a bond.

FAQs About Malaysia Retirement Visa

Ans: To qualify for a retirement visa in Malaysia, you must be 35 years old and show proof of liquid assets of at least $118,500 or income of at least $2,370 per month if you’re under 50. You must show proof of liquid assets of $83,000 or $2,370 per month if you are over 50.

Ans: It provides a pathway to relocating for US retirees through the Malaysia My Second Home (MM2H) visa program. A MM2H visa allows retirees to live in Malaysia with their spouses and dependent children for a period of five years.

Ans: By the time they reach age 55, many Malaysians are not even able to save RM240,000, the retirement savings minimum set by Employee Provident Fund (EPF) and Kumpulan Wang Simpanan Pekerja (KWSP).

Ans: MM2H costs depend on the category, starting from RM1,000 to RM200,000 plus professional fees. Other expenses include immigration fees, medical checks, optional insurance, and renewal fees. Applicants over 50 must open a fixed deposit of MYR350,000.

Conclusion

Malaysia offers an attractive retirement option through the MM2H program, combining affordability, comfort, and modern living. With its flexible visa terms, tax advantages, quality healthcare, and vibrant lifestyle options, retirees can enjoy a fulfilling life in Malaysia.

Understanding the eligibility, costs, and application steps ensures a smooth transition to this tropical haven.

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