Where can I get info on the spouse scheme ?why is it better? Thanks.
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Malaysia My Second Home - mm2h
- Thread starter dumb1
- Start date
Where can I get info on the spouse scheme ?why is it better? Thanks.
Hi, I was give the following instruction for buying a car under MM2H. Is there any one who did stage 1 without using an agent? If so, kindly advise the procedure. Thanks!
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Stage 1 is to obtain letter of approval from the Treasury department on the eligibility for duty exemption.
Stage 2 upon approval from the Treasury. New vehicle information such as Engine and Chassis Number will be submitted to Customs Department for clearance.
With the approval letter from Customs we can proceed with registration.
Document required for the application are:
1. Letter from immigration stating MM2H status.
2. Certified passport on personal particulars and MM2H visa page
3. Car purchase agreement. (By Motor dealer)
4. Engine & Chassis number of new vehicle (By Motor dealer)
Please be informed that our past experience on MM2H application, Stage 1 was normally assisted by the agent.
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Stage 1 is to obtain letter of approval from the Treasury department on the eligibility for duty exemption.
Stage 2 upon approval from the Treasury. New vehicle information such as Engine and Chassis Number will be submitted to Customs Department for clearance.
With the approval letter from Customs we can proceed with registration.
Document required for the application are:
1. Letter from immigration stating MM2H status.
2. Certified passport on personal particulars and MM2H visa page
3. Car purchase agreement. (By Motor dealer)
4. Engine & Chassis number of new vehicle (By Motor dealer)
Please be informed that our past experience on MM2H application, Stage 1 was normally assisted by the agent.
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I see. Actually, I called up Nissan and the dealer gave me a list of MM2h agents to contact. Also mentioned that agent fee is to be borne by buyer.
Hi there,
I am currently in the process of applying directly for MM2H for my family. I have not heard about change in deposit but going strictly by their website, the amount is still RM300K for below 50yrs old and RM150K for above 50yrs. http://www.mm2h.gov.my/pdf/mm2h2_2.pdf
I am aiming to send in my application by the end of the week and keeping my fingers crossed that nothing will change between now and then
Hi there,
I am currently in the process of applying directly for MM2H for my family. I have not heard about change in deposit but going strictly by their website, the amount is still RM300K for below 50yrs old and RM150K for above 50yrs. http://www.mm2h.gov.my/pdf/mm2h2_2.pdf
I am aiming to send in my application by the end of the week and keeping my fingers crossed that nothing will change between now and then
If can prove your property is worth more than RM1 million, then if you are below 50yrs old your deposit only need RM150K. Right?
That is what I have heard but I don't know anyone who has actually experienced the "discount" so I am planning based on what is on their official website. Perhaps others on this board may provide better clarity.
RM150K or RM300K is a lot of money, to me at least.:p If I have this money I would put it in current account to offset bank interest unless I really need the MM2H to continue staying in JB.
I got my MM2H approval last November by direct application.
The criteria are that your have an offshore income of at least 10,000RM a month and liquid asset of at least 350,000 to 500,000 RM depending on age.
It can be shares, properties etc. and I believed these criteria remain the same till now.
For further details, see the official website at http://www.mm2h.gov.my/index.php/en/home/programme/terms-conditions.
No fixed deposit requirement? Property is liquid asset????
It is a lot of money for us too but my husband is making all kinds of plans to start a business etc and wanted some peace of mind on our status in the country, so that's why we decided this is the best course of action for us...
I think MM2H has no significant benefits for Singaporeans. Forget it.
I clicked on OzRick's link and found this:
Upon application:
■Applicants aged below 50 years are required to show proof of liquid assets worth a minimum of RM500,000 and offshore income of RM10,000 per month. For certified copy(s) of Current Account submitted as financial proof, applicants must provide the latest 3 months’ statement with each month’s credit balance of RM 500,000.
■Applicants aged 50 and above may comply with the financial proof of RM350,000 in liquid assets and off shore income of RM10,000 per month. For certified copy(s) of Current Account submitted as financial proof, applicants must provide the latest 3 months’ statement with each month’s credit balance of RM 350,000. For those who have retired, they are required to show proof of receiving pension from government approved funds of RM 10,000 per month.
■New applicants who have purchased properties worth at least RM 1 million qualify to place a lower fixed deposit amount upon approval.
The credit balance of at least RM500,000 every month I believe is a new one - at least I have not noticed it before. It's pretty steep!
And it seems they've included the potential "discount" for owners of properties that are >RM1 million and I read it as the actual "discount" is up to their discretion.
The 500k rm in current account balance is confusing...thought if we have property at least 500k rm in sg can already?
Dunno whether to apply if we want to semiretire here...will they one day say we cannot stay in My without mm2h?
If you look at the link I’ve provided, click under “Upon Approval” and it lists the fixed deposit requirements.
I believe if you are short on savings and shares to meet the financial requirements, your equity in properties can be considered. Just provide a note that you will sell off the properties on approval to meet the financial requirements.
Have a look at the forum at http://www.my2home.info/ for more details, especially on the ‘Direct Application’ route.
The response I received from MM2H is your 1M house must be fully paid up with no loan than you can deposit $150Krm
My personal opinion is that if one lives in JB, and is contented with a simple car, there's really no need to apply for MM2H. I can understand applying for MM2H if one intends to retire in Penang, Ipoh, KL as distance is a factor. But if one stays in JB, it's really easy to visit SG every month.
For me, I think MACS is more than sufficient, but if one intends to buy a 7 series or similar cars, then maybe it makes sense to apply for MM2H....
For me, I think MACS is more than sufficient, but if one intends to buy a 7 series or similar cars, then maybe it makes sense to apply for MM2H....
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But all the cash locked inside fixed deposits, is it worth it at the end of the day?
I guess the answer varies from person to person depending on their plan and circumstance
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