Every year, many people around the world apply for ‘Malaysia My Second Home’ or MM2H visa. Like any other legal application, the applicants need to fulfil a few requirements. Here, we have enlisted the top three requirements for MM2H visa application. Let us have a look!
1. Financial Requirements for the People Below 50 Years of Age: The visa applicants who belong to the age group of below 50 years should provide the proof of financial strength or liquid assets of at least RM 500,000 along with the offshore income equivalent to RM 10,000 per month. One needs not have to transfer the money into Malaysia. Instead, they could provide the bank statement (3 months before the submission of application).
The sources of income could be investment returns, salary, government pension, earnings from rental properties, royalty or any other income source. Please remember that the earnings should be made outside Malaysia. It may be that you are not drawing an earning after every month. A few of such random earning sources should be disclosed with your MM2H sponsor or any other visa consultant. Sometimes, such extra income sources prove vital as they could help you gain the financial eligibility for visa application. You should work it out with the experts.
Financial requisite does not include property valuation. Thus, it is of no use to submit the proof of real estate properties for the verification of financial strength.
2. Financial Requirements for the People Above 50 Years of Age: The financial requirements for people above the age of 50 years are more lenient and flexible. After all, the Malaysian government had framed the MM2H visa to facilitate the settlement of retired expats. The visa applicants who belong to the age group of above 50 years should provide the proof of financial strength or liquid assets of at least RM 350,000 along with the offshore income equivalent to RM 10,000 per month. Herein too, it is not necessary to bring the money in Malaysia. Instead, the proof of last 3 months financial transactions is enough to submit for the financial requirement by 50 years above applicant.
3. Non-Financial Requirements: In case the husband and the wife are applying for the visa individually, the first and foremost non-financial visa requirement is the scanned/ photocopy of the marriage certificate. If dependent children below the age of 21 years are following their parents, they should apply individually along with the scanned/photocopy of their birth certificates. Along with this, one must possess an original letter of good conduct/ police clearance document issued by the government of the country of citizenship/ domicile/residence. A self-declared health certificate should be submitted along with the MM2H visa application.
Having a good knowledge of the financial and non-financial requirements of visa application will help you acquire the eligibility criteria much sooner thereby speeding up the process of approval. Sooner the better!