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New MM2H Post Approval

Post Approval Process

I received an email from Alter Domus that my application has been approved. So, what is the next step?
  • Let us know when you (and your family) plan to fly to Malaysia and we will advice you the necessary steps (including how long you are required to stay to complete the whole process).

  • You need to remit the last half payment and the government fees.

  • Banking – 2 options:

    • ​Option 1 – “Pre-arrival” account opening where you can open a Malaysian bank account (selected banks) outside of Malaysia and remit the money over to the newly opened Malaysian bank account. You complete the identity verification step at the bank when you are here in Malaysia.

    • Option 2 – Open the bank account when you are in Malaysia. You need to be present at the bank to do this.

  • Regardless banking option 1or 2, you have to fly over to Malaysia with your family members.

  • You have to complete the bank account opening (identity verification) and get the bank documents.

  • You (and your family) will have to complete a simple medical checkup here using MFII form.

  • Then, give us the passports along with the MFII forms and bank documents and we will submit your passport (and your family's passports) for visa endorsement (sticking the visa on the passport).

  • Once endorsed, we will return the passports and you are done.

Post Approval FAQ

How much time do I have to get the MM2H after approval?

The approval letter states that one must come and collect the MM2H visa in person in Malaysia within six (6) months. There is no deadline for you to move permanently to Malaysia, as long as you fulfil the minimum number of days every year and do not let the visa lapse.

Banks

What are the rules for putting the MM2H deposit in a bank in Malaysia?
  • You can use any bank operating legally in Malaysia, be it local or foreign banks.

  • It must be in Ringgit Malaysia only.

  • It must be in fixed deposit (or time deposit) only, 12 months term and auto-renew.

  • Properties, bonds, investment products are not allowed.

  • If the application is “single”, then the name of the account must be single. If the application is with spouse, then joint names are allowed. It cannot be under the name of the spouse only. Children cannot be part of the joint account holder for MM2H accounts.

  • Islamic or Syariah-compliant accounts are acceptable for MM2H.

  • It does not matter how the funds for MM2H deposit comes into Malaysia as long as it is a legal way. It can be a transfer from a local bank account (friends/relatives), cash deposit or remittance from overseas.

  • The interest is usually deposited into a separate savings account, and you can withdraw and use the interest.

  • In future, you cannot change banks once you have confirmed the MM2H deposit in the bank.

Why are banks in Malaysia different from many other countries, especially developed countries?
  • Malaysian banks are traditional banks that make money from the difference between loans and deposits. They are not allowed to function as an investment bank. Banks have investment arms, and they are different entities.

  • PIDM (a.k.a. Malaysia Deposit Insurance Corpration) is the Malaysia deposit insurance but due to the nature and strict control from the Central Bank, banks are safe. No locals are concerned on the safety of the bank. You can always download the annual report of banks from their respective websites. Practically all of them are public listed companies.

  • There is Islamic (Shariah-compliant) banking in Malaysia.

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