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non MM2H visa

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pk1234
  3/13/2019 18:29 EST

I'm interested in retiring in Penang. I'm from the US and can not afford the MM2H visa. My pension is $1500 a month. Is there any other visa that would allow me to become a permanent resident.

Thank you

cinnamonape
  3/13/2019 21:46 EST

Just a few details.
"Permanent Residency" is a term meaning that you are eligible to stay in Malaysia for very long periods. Generally, non-citizens get this through marriage or having Malaysian children. The MM2H, and all other visas, have prescribed time-limits. They do not make one a "permanent resident" (though they may make one a 'tax resident'.
The MM2H gives you a ten-year renewable visa, for example. Other visas relate to work, getting an education, "expert visas" (requiring a recommendation/proof by appropriate agencies), investment visas, etc.

Your pension is way below the @$2500 expected to be eligible for the MM2H. If you are eligible for dipping into your Social Security early you might consider doing that to bolster your "pension income". For example, if you had a state pension of $1500 and a SS benefit of $1100 you'd qualify, provided you placed the appropriate amount in the Fixed Deposit.

Other alternatives. 1) Bolster your income level with a spousal contribution. 2) Work several years longer. 3) Marry a Malaysian.

Sarawak has an MM2H program that (currently) has lower income requirements. It is for those over 50 (w/ a few exceptions). For a single pensioner applicant you must have RM7000/income (currently about $1750). You are not far from that. For a couple it is RM10,000 (@ US$2440). For the pension option there is no FD requirement. OR one can place a FD of RM100,000 (single = @$24,400) and just show sufficient income from other sources to maintain a reasonable lifestyle.

FD= Deposit placed in Malaysian (or Sarawakian bank) for the term of the visa. Some eligible withdrawals may be made- healthcare, property purchase, childs' education, purchase of vehicle, but a minimum deposit must be maintained.

https://www.sarawak.gov.my/web/home/article_view/221/279/

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