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Malaysia My Second Home F.A.Q.
 
 
 

Below are many questions which are frequently asked. Please browse through the questions which are divided in separate topics. Should none of these Q & As answer your specific question, please do not hesitate to contact us.

FIXED DEPOSITS

Q. Can I withdraw my fixed deposit any time during my stay in Malaysia?
A. Participants are not allowed to withdraw the fixed deposit for the whole duration of the one year period, unless for emergency cases and with prior approval from the Ministry of Tourism. Participants may withdraw the fixed deposit any time should they decide to end their stay in Malaysia under this programme.

Q. Can I place the fixed deposit in a Malaysia bank located in my country?
A. No. Participants have to place their fixed deposits in any Malaysian local bank or financial institution in Malaysia.

Q. Can the purchase of a house in Malaysia, which is valued more than RM150,000,-, be considered as having fulfilled the financial criteria for this programme?
A. No. Participants are required to fulfill the fixed deposit requirement as the purchase of a house is not compulsory for participants under this programme.

Q. Am I allowed to withdraw my fixed deposit for a few months and then bank it in back later?
A. No. Participants are not allowed to do this, unless for an emergency purpose but with prior approval from the Ministry of Tourism.

Q. When can I withdraw my fixed deposit?
A. Partially deposit after the one-year period OR when he/she decides to terminate his/her stay in Malaysia by first informing the Ministry of Tourism of his/her intention at Malaysia My Second Home Centre. Participants can apply to withdraw part of their fixed deposit for purchasing property, education for their children and emergency cases such as medical purposes, etc. with prior approval of the Ministry of Tourism.


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