MALAYSIA MY SECOND HOME (MM2H) PROGRAM
Malaysia My Second Home program is open to all foreign citizens wishing to retire in Malaysia or reside in Malaysia on a long term basis. It is fully endorsed by the Government of Malaysia and your immediate family (spouse and children) can also participate in the program. Here are some of the key benefits of Malaysia My Second Home program:
- You will get a 10-year Visit Pass and Multiple-Entry Visa (renewable every ten years) which will eventually give you a lifetime easy access to the country
- You can import your car or purchase a new car, tax-free and enjoy other tax incentives
- You can invest and own businesses in Malaysia
- You can enjoy a luxury lifestyle at a fraction of the costs
The best thing is that you still retain your citizenship and all its privileges in your own country. You can come and go as you wish. There is no restriction on your stay and traveling.
You are only needed to proof two(2) things, namely :
- Monthly income of RM10,000.00 per month equivalent ; and
- Liquid Assets equivalent to RM350,000.00 ( above 50 years old ) and RM 500,000.00 ( below 50 years old ).
You definitely need this program if you currently facing one of the following problems:
- High cost of living in your own country.
- Dreary weather in your own country causing illnesses or allergies.
- Dream of living in a warm tropical paradise.
- Your nationality limits your investment and entrepreneur abilities.
- Your government levies taxation on your income, assets and capital worldwide.
- Your current place makes you a target for terrorists.
- You and your children must serve in the army.
- Your nationality limits your freedom of traveling.
- Your country is politically unstable.
- You want to change the address of your permanent residency.
- You want to insure your family against unforeseeable misfortunes.
- Rising crime rate and instability inside your own country.
If you are considering where to retire and want to retire overseas, we have some tips for you to consider retire early and rich.
Looking for an affordable place to retire is a good idea, even if you think you have plenty of money to retire on. Remember, you will have to contend with illness and other problems associated with aging. A cheap retirement means planning for problems you wouldn't even think about during your younger years. So consider these contingencies when you look for places to live. Cheap medical insurance policy is one of the solutions.
The biggest consideration in finding an affordable place to live or retire overseas is housing. Housing costs will probably consume at least 30 percent of your expenses even though most mortgages have been paid off by retirement age. This is due to the extreme climate changes and up-keeping of your property. However in Malaysia, we face moderate warm weather through out the year. Thus, housing costs and maintenance are very minimum.
When looking for a cheap place to retire, find out about the rules and regulations in purchasing properties. How property is taxed, what the tax rates are and what the exemptions are. There are places which have no income tax, but in addition to a high sales tax there is an intangible personal property tax that taxes a person's investment portfolio. So it might not be the cheapest place to retire. There are also tax benefits in moving to Malaysia. For a foreigner no tax is charged on any income derive outside of the country, there is no inheritance tax and no capital gains tax on assets other than property. There is also no VAT, but there is a Government Sales Tax (GST) of five percent on hotel and restaurant bills and on professional bills such as lawyers' fees.
Rather than waiting to move to a new location after you retire, you may wish to consider moving to an affordable place to retire while you are still working. This will give you extra time and information in planning a cheap retirement that you can enjoy.
Don't wait for the rainy day. Because after something happens, it could be too late. As everybody knows, success never comes unexpectedly, you have to work a lot and for a long time to get it. But misfortune always comes unexpectedly. It is necessary to plan business and investment in such a way as to avoid paying exorbitant taxes and maximize your disposable income.
This programme is like insurance. When you really need insurance, it might be too late to get it. It also takes time to obtain a genuine document. The list of countries that offers fast legitimate second home program is shrinking rapidly due to the pressures from countries with high taxation level. Malaysia offers such an opportunity still. But there is no guarantee it will not be suspended. So, do not waste your time, apply for your early retirement visa today to secure your future.
Need some expert opinion about retiring in Malaysia. CLICK HERE www.retirepedia rated Malaysia as The World Best Places to retire and the cheapest places to retire. There are three(3) parts.
International living recommended Malaysia as one of the cheapest country to stay. CLICK HERE .They suggested US$1,200 per month as comfortable lifestyle in Malaysia
Realistic practical life living in Malaysia tropical paradise without working by David McDowell featured in EscapeArtist.com, CLICK HERE