MM2H requires you to have an exlusive savings account

When you apply for Malaysia My Second Home you need a savings account in Malaysia. Below the age of 50, you need a minimum of 75K $ in a fixed deposit account, above 50 you need 40K $.

Savings Account requirements for MM2H program

 

Since April 2006, the MM2H programs requires you having a savings account or fixed deposit on in a Malaysian bank :

 

  • applicants under 50 need a savings account or fixed deposit of US$75,000 or RM300,000 in a bank in Malaysia
     
  • applicants over 50 need a savings account or fixed deposit of US$40,000 or RM150,000

    OR

    they need to show evidence of a monthly income over US$2500 or RM10,000.

 

savings for kuala lumpur fashionApplicants placing fixed deposits in a savings account can withdraw part of the money of the savings account after one year, but the money needs to be spend again inside Malaysia:

 

  • to buy a car in Malaysia,
     
  • to buy a house in Malaysia
     
  • to buy shares in Malaysia.

 

Unfortunately, you cannot take out money from your savings account to by one of those beautiful dresses made in Malaysia. We don't understand the logic, as buying goods also means spending your money in Malaysia.

 

Before April 2006, the amount of Money in your savings account was lower, yet you needed a "sponsor".

 

The sponsor is no more needed for recent MM2H applicants as the guaranty of money that comes in Malaysia is now solely your responsibility. Having a fixed deposit proves you already have money in Malaysia at the moment you apply for your Malaysia My Second Home visa.

 

Be aware: during your stay under the Malaysia My Second Home Visa, you are not allowed to work anywhere in Malaysia unless approved by the government.

 

As long as your Malaysia My Second Home Visa is valid, at least US$15,000 or RM60,000 has to be in your savings account.