Retirement visa requirements for Malaysia

Chima Nnaemeka01 July 20213472 views8 min. read
Retirement visa requirements for Malaysia

It won't be a surprise if you are among those that would love to retire in Malaysia. The country has everything to make you dream of spending the rest of your life there. Apart from being a country with welcoming citizens, Malaysia has lots of beautiful beaches, delicious foods, good medical facilities, superb scenery, and an affordable cost of living. How to get a Malaysia visa? It has made many consider different visa options such as married couple retirement visa Malaysia and tourist visa. You must first consider the cost of a retirement visa in Malaysia and Malaysia Malaysia retirement visa requirements before anything else.

From this article, you will find out Malaysia retirement visa cost, information on Malaysia retirement visa, and how to go about with Malaysia retirement visa application.

Malaysia retirement visa requirements

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Just like with every other type of visas, such as a business visa and Malaysia tourist visa, you need to meet different requirements to get a Malaysia retirement visa. The Malaysia retirement visa requirements include documents to have before such a visa is issued to you, your eligibility, and of course, the cost of a retirement visa in Malaysia. Obtaining a Malaysia retirement visa will become easier when you have gotten all the required information or documents.

Is a Malaysia retirement visa of different types?

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You can comfortably travel and stay in Malaysia for up to a month – 30 days without needing any type of visa if you are travelling from certain countries. To know if you are eligible to travel to Malaysia even without a Malaysia retirement visa, visit www.pickvisa.com and check your home country's eligibility. Although you can travel to Malaysia without a visa if your country has an agreement with the government of Malaysia, you will need to join a program known as Malaysia My Second Home if your plan is to retire in the country. This program is also known in short as the MM2H program. It is the best way to stay in Malaysia for a longer stay.

This program was initiated by the government of Malaysia so that foreigners can be motivated and encouraged to stay in the country for a longer time. You will receive a multiple entry visa and a social visa pass that is renewable for ten years if you are eligible for Malaysia My Second Home program. This is the best choice for you if you want to retire in Malaysia. This program was initiated for people who are older than 50 years old. However, the program is still open for younger retirees as long as they meet a particular pension income threshold.

Documents or requirements for a Malaysia retirement visa

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The following requirements must be met for you to apply for Malaysia My Second Home program and to obtain the Malaysia multi-entry visa that is acceptable for 10 years:

If you are more than 50 years old, you need to first show proof of:

  • Liquid assets totalling RM 350,000
  • Off-shore income of RM 10,000

In some cases, most retirees consider these income and liquid assets mentioned above as part of the total Malaysia retirement visa cost.

When your application for the MM2H has been approved, you are requested to deposit a fixed amount of 150,000 Malaysian ringgits into a local bank in Malaysia. The common banks are Standard Chartered, Citibank, and HSBC. You can also submit proof that you have a RM 10,000 monthly income from a government pension. This money can be withdrawn from the second year of your stay in Malaysia. However, you need to have at least 100,000 Malaysian ringgits in your bank account throughout your whole stay in Malaysia.

How to get a visa in Malaysia? It is not only about finance; there are other paperwork or documents you must provide to be accepted for Malaysia My Second Home scheme or program.

Documents needed for Malaysia retirement visa:

  • You need to provide medical insurance proof for your stay in the country
  • Obtain a Letter of Good Conduct which is known as LOGC, from a security agency or official police in your home country
  • You must provide verification of bank statements
  • All certified copies of pension verification letters should be provided
  • Every document that relates to address and identity verification should be provided

The possibility of getting stuck while getting these documents and meeting these aforementioned requirements is inevitable. This is why you need to seek the assistance of experienced travel agency companies like pickvisa.com. You can easily contact them by visiting their website - www.pickvisa.com.

Malaysia retirement visa application

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Application for a Malaysia retirement visa is not as difficult as some people assume when you have the right information and when you are guided by a good travel company like pickvisa.com. With the advance of technology and the internet, you can start today to apply for a retirement visa from the comfort of your house. The steps involved include:

  • Visit the official MM2H scheme website.
  • Through the Check 'N Track portal, complete the application form. You are to enter your name and other information in the field.
  • Sign and download the forms where it is necessary.
  • The application form that has been signed and completed should be sent in person or a courier to the MM2H centre. To save you stress, time, and energy, especially if you are busy, consult pickvisa.com to handle the whole Malaysia retirement visa application process for you. While they do this, you can focus on getting other travelling needs and rounding up what you are doing in your home country. It would be faster and easier.
  • You will get your Malaysia My Second Home reference number by email. Make sure to reply to the email message within 14 days in order to continue your MM2H application.
  • You will have to visit Malaysia in person once it is approved. The purpose is to pick up your Conditional Approval Letter in person.
  • The stipulated conditions of approval must be met, and these conditions include making a fixed deposit into a local bank in Malaysia, as earlier explained.
  • Have your immigration fees paid as you submit your last remaining or required documents. You will receive your Malaysia multiple entry visa that is endorsed on your international passport.

Cost of retirement visa in Malaysia

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Malaysia My Second Home Programme has a few costs and fees that include the fixed deposit of 150,000 Malaysia ringgit in a local Malaysian bank. This deposit is made on your arrival in the country.

Other main fees involved in Malaysia retirement visa cost are:

  • Immigration-related fees – you will see the amount on your Conditional Approval Letter.
  • Security Bond of 200 - 2000 Malaysian ringgit. It is of paramount importance to know that this amount varies by country through direct application.

Processing time for a Malaysia retirement visa

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There is no particular duration of time for you to get a Malaysian retirement visa as many factors can contribute to the speed and delay in getting it. When you have any missing paperwork, documents, or wrong details, there would be a delay in getting a Malaysia retirement visa (married couple retirement visa Malaysia). But in general, getting a retirement visa to Malaysia can take up to 120 working days.

This is why carefulness is necessary. If you want to avoid these issues, take advantage of the services of pickvisa.com. They will go through your documents and application thoroughly to make sure everything is correct.

Final thoughts

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It is a good desire to retire in Malaysia. The country has everything you need to enjoy your retirement years - from their good hospitality to food, attractive tax benefits when you don't earn in the country, cheap cost of living, topnotch security, different beautiful cities, serene environment, lovely beaches, and welcoming citizens. To have this desire turned into a reality, you need to have a Malaysian retirement visa. Just like every other type of Malaysian visa, you need to meet certain Malaysia retirement visa requirements, which have been stated clearly in this article. You also need to provide certain documents and have your personal information accurately provided to be considered eligible for the visa. The processes involved might be confusing and will require patience. Thus, the need for the services of experienced travel companies such as pickvisa.com is highly needed. Trust your retirement visa requirements for Malaysia with them and travel when you want. Good luck and enjoy your stay in Malaysia.

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