The main purpose of this web page is to clarify the need for applying for MM2H visa. It is our company policy not to do any hardselling or pushing clients to join the program. However, it is only a fine line that separates giving good advice and doing hardselling as some may interpret our advice as a hardsell.
We take pride in working very closely with out clients so that they know what they are doing and what their expectations are. It is very important that when you contact us, give us as much information as possible so that we can advise you if MM2H is suitable for you. We will continue to work closely with you after the visa has been approved and right up to the time when you settle down in Penang.
Based on our experience, there is a lot of wrong information about this program and misconception about Penang and Malaysia. It is best that you clarify with us so that we have give you the correct information. It is our duty to ensure that you have the latest and correct information.
There are 3 sections. One is in questions and answer format. Section 2 tells you which to choose - easy and hassle-free relocation (full package) or only visa application. The last one is sorted by category. You can read either or both sections 1and 2 but there will be some points repeated.
SECTION I - QUESTIONS AND ANSWERS FORMAT
Should I apply now or later (I am still working and only retiring in a couple of years time) ?
We always advise our clients to apply as soon as possible as the requirements might change. There are some parties trying to abuse this program and the Malaysian government is trying to prevent that from happening, thus the requirements might change over time (any time). There is no early warning or guarantee. We have seen some cases of people unable to join this program as they have delayed their application. However, if the delay is related to family matters or inadequate financial resources, then there is nothing to regret as you would not be able to proceed with the application at an earlier date anyway.
We have plenty of people who are retiring only in a couple of years time (the youngest will only retire in 8 years time) and now is the best time to apply. If you were to apply when you are going to retire in 2 months time, then you might need to rush. Some countries allows expats only a couple of days or weeks to leave the country upon termination of employment passes, thus, you will not have the time to apply for the MM2H visa and relocate to Penang. Applying first is always a better idea as you lock in the current requirements (and you don't have to worry about future changes).
Once you have the visa, you will sigh a huge relief as you have a long term visa in Malaysia and if you have a property in Malaysia, then you are all set for retirement. All you need to do when you retire is just to ship your belongings to Malaysia and you can come over with your suitcases of clothes. You have nothing to worry as you have the long-term visa and a property that is ready!
This scenario is especially true for expatriates who have worked in many places around the world. They find their current workplace is too expensive or too hectic to retire and going back to their home country is not an option (too expensive, too cold or too alien). Penang is then the most appropriate choice. If you are in this category, then we recommend that you apply as soon as possible.
You can take your time to find a property that you like and you can start the renovation works and remodeling. If you take up our relocation assistance package, we will help you monitor the renovation works and update you on a regular basis. It is just like an extra pair of hands and eyes in Penang. If you are still working, you can come and visit Penang. You will make your property your holiday home (for only a couple of years at most). We have home management services that will give you peace of mind in managing your home. We will pay your bills, send the cleaners in and making sure that it is in tip-top condition.
You need at least 4-9 months to complete the purchase of a property in Penang. If you were to add in the renovation and remodeling works, then it will be close to one year. So, if you were to retire in two years, the timing is just right as you might need one year to find a property to buy (that suits your tastes and requirements).
If you want to stay in Malaysia for longer periods of time, then it is also advisable to get the MM2H visa. It is not legal to enter and leave Malaysia every now and then to get a 1 month or 3 month social visit pass (tourist visa). If you are caught, you might be blacklisted. If you are at the age of taking it easy, then remembering the dates of going in and out of the country might not be something pleasant.
MM2H is more suitable for those who wants to retire (or take early retirement), who is financially strong and who wants to stay in a place where the cost of living is relatively low
How about property ?
MM2H and property are independent of each other. However if you are thinking of buying a property and staying in it a few years later, then it is good to think about MM2H as well. Financial strength of MM2H application (during application only) does not include property. That means that property is not a substitute for cash or fixed deposit. Once you have the MM2H visa, depending on your age, you can withdraw RM100,000 (above the age of 50) or RM150,000 (below the age of 50) for property purchase (one year after passport endorsement). Thus, if you wish to purchase a property for retirement and if your financial standing is only reasonably strong, you might want to apply for MM2H first and take out the money for property. If you have bought a property in Malaysia, you still need to come out with money for MM2H fixed deposit. However, if your financial standing is exceptionally strong, then it does not matter as you can afford to pay for the property as well as the fixed deposit for the MM2H visa.
If you have purchased a property for investment or for future retirement use, it is better to get the visa as you might not know that one day you may stay in the property that you have purchased. You can use the money for the fixed deposit to purchase the property. Why wait until the requirements change (usually becomes tougher to meet) before you apply?
I have not been to Penang, how should I go about ?
We have at least 10% of our applicants applying for the visa without visiting Penang. They are all happy with their decision to apply and some of them have taken up residence here. Some of them will only retire in a few years time. Although we don't recommend people apply for the visa without coming to Penang, the decision is yours. In the worst case scenario, if you really do not like Penang (very unlikely), you only lose 50% of our charges. You don' have to be present in Penang to apply for the visa. We can send the forms to you.
I have a tourist visa that allows me to stay for three months. I don't need the MM2H visa
Here are the reasons why you should go for the MM2H visa
It is not legal to go in and out of the country continuously. It is just like going overseas to work by leaving/entering the country. There are people doing it but don't get caught. If you are caught, you might be blacklisted and application for MM2H might be difficult
It is expensive and troublesome to go in/out of the country every few months. Over a period of 2 years, the cost of application for MM2H will be lower than going in/out of the country. If you forget and overstay, your history of coming in/out of the country will come to light and you might be warned or blacklisted. With MM2H, you don't have the pressure to remember the visa expiration dates
You get to enjoy the benefits of insurance coverage and tax-free car purchase.
You are at the age of taking it easy. Why bother with remembering the visa expiration dates. If you want to stay a few days more than the visa expiration, you don't have to leave the country
SECTION II - TYPES OF SERVICES
Full service or visa application only
Visa application only - means that we do the visa application only. Nothing else. We can give them advice on properties and arrange for property viewing but there will no help on renovation/remodeling of the property. This service is mainly for ex-Malaysians. They have their friends and relatives in Penang and they don't need anything other than the visa. However, most of them will request assistance on tax-free car purchase. That will be a separate charge as we will complete the entire paperwork of the tax-free car purchase.
Full service - This service is mainly used by those who will be purchasing a property in Penang or those who will be retiring within one year or those who do not want the hassle of doing it alone, especially in a foreign country. Usually, they are foreigners with no contacts or friends in Penang.
They have reached an age where it is just too tiring to find out which office to go for telephone installation or which hospital has the best orthopedic surgeon. By taking up the relocation package, you get peace of mind, knowing that you have a friend in Penang. This is very true as all our clients are our friends. We keep them updated on what is happening and if they need any assistance, we are there to assist them (normally through emails, unless it is extremely urgent, then it will be through telephone).
We will provide advice on property purchase, arrange for people to renovate the property, take them to the shops that provide excellent after-sales services, offer advice on their house renovation and provide local knowledge that will be helpful to them. In short, we make sure that they are well taken care of during the relocation period. The cost of the full service is justified by
The advice given during property purchase
Which location is good? What is the market price? - Very valuable information for property purchase.
The cost savings due to lower-priced and reliable renovators/contractors
We have excellent interior designers and contractors to renovate your property. The prices will be cheaper than other contractors. His workmanship is excellent and we have a quite of number of clients who will be the contractor's referees. The cost savings from property renovation will be much more than our relocation consultation fee. We will monitor the contractor's work and will advise accordingly.
Cost savings and better services - purchase of household goods
We have a list of ships who offers good after-sales service for household appliances or furniture. The prices will be on par or slightly cheaper than other shops.
Above all - peace of mind and the hassle-free relocation.
tax-free car purchase assistance, fixing up telephones, electricity, broadband.....
Most of our foreign clients will take up the full service package unless they still want to work for another 4-5 years but if they purchase a property, they will go for full service. Peace of mind is more important as they are still working.
Even if your property is still under construction, we will take photos of the construction and let you know how the progress is. We will use our company's address as your correspondence address so that any correspondence from the developer will come to us. We will then scan the letter for your attention. In this way, "missing mails" will not happen. There are many incidences of missing mails or slow delivery and there was a lot of hassle over late payments. So, our full service packages will prevent any unnecessary issues on late payments or missing mails.
For those who have relatives or friends in Malaysia, taking up full package can be helpful as well. We are doing MM2H fulltime and we have the resources to monitor the progress of your property's renovation work. Your relative or friend may not have the time or resources to monitor the work of your contractors. If they are working, the can only go after office hours or in the evening. They might not have the time to follow up with the contractor.
SECTION III - CATEGORY
Above the age of 50
Our clients are staying here because of the weather. The weather in the home country is cold and it is not good for their joints and health. That is one of the main reasons for them to come over. The other reason is the high cost of living. The monthly pension of ₤1000 is barely enough for them to survive in UK but in Penang, at the current exchange rate, RM7,000 is more than sufficient for two person to lead a very comfortable life. If they are less than 70 years old, then can even purchase local medical insurance that will cost much less than what they buy in their home country.
If their monthly government pension is more than RM10,000 or USD3,2000 then they can use the income method to retire. No monthly remittance required. Just the pension letter.
If their monthly income is short of RM10,000 per month, then they have to use the fixed deposit method. For RM150,000 (about USD42,000) that is deposited in to a bank in Malaysia, they will be able to get the visa. There is no problem moving the money into Malaysia or taking them out. You will gain an interest of around 4% per year (subject to change). If you put a lot of money in the bank under the fixed deposit and with the low cost of living in Penang, you can actually live off the interest given by the bank.
There are clients who are still working and when they retire in 3-5 year's time, they don't have to worry about finding a place to retire or getting a long term visa. All they need to do is just to pack their bags and fly over to Penang. When they get the visa, it is a great sigh of relief as they do not have to worry about a lower cost and great place to spend their days in retirement. This is a big problem solved.
When they have the visa, they visit Penang very often and usually they will purchase a property here (normally a medium-sized apartment) that will be their retirement home. They will take up the full package service that we offer as we will make sure that everything will be taken care. They need this service as they are still working. Our full service package includes assistance in house purchase, renovation works and all coordination work (example : to make sure that furniture moves in only after the cleaners have cleaned up after the construction work). With full package, our clients can concentrate on their current job as they know that everything in Penang will be taken care of. They will make use of our property management services, either to rent out the place (so far there is no one doing that) or to ensure that the bills are being paid and the apartment is cleaned. When their friends or relatives visit Penang, they will stay in their apartment. We will provide them with airport transfer and hand the keys over to their friends or relatives. When they leave, we will then clean up the apartment again and wait for the next person or our client to come.
Penang is a good place to retire as the cost of living is lower (as compared to KL or Singapore or other places). Some of our clients are expatriates and their home country might be too expensive for them to survive on their pension. Moreover, the view is Penang is great - seaview or hill view and the weather is perfect. There are no natural disasters in Penang. Locals are warm and caring. They have no problems socializing with foreigners. Language is not a problem either as most locals understand and speaks English.
Less than 50 years old (working or retired is not important)
There is only one option - RM300,000 (or about USD84,000) in a bank in Malaysia. We have some clients who work through the internet and it does not matter if they are in Hong Kong, New York or Penang. So, living in Penang gives them the advantage of lower cost of living. The money that they put in the bank can be withdrawn after one year to purchase a property in Penang, education for their children or medical treatment in Penang. Most of them will buy a property.
We have some clients whose children are studying in Penang. Their parents take up MM2H as it is much more convenient compared to getting a guardian visa.
Property as investment only or as holiday homes
We have helped many people purchase a property of their choice, hassle free. We have a panel of property consultants who are trustworthy and who will not rip you off or try to sell you the most expensive properties in your budget. Consult us first before you proceed with property purchase. Our consultants are independent and they can give you all the options. So, you don't have to worry about being taken for a ride.
After the property is purchased, we will help to manage the property. We will ensure that the bills are being paid and the apartment is cleaned. If they want to rent it out, we will put them up with the real estate people (through third party consultants). Normally, they don't rent out the place but they make it their holiday homes. When their friends or relatives visit Penang, they will stay at their apartment. We will provide them with airport transfer and hand the keys over to their friends or relatives. When they leave, we will then clean up the apartment and wait for the next person to come. Hassle free property management. Peace of mind.