Easier to Program retire in Malaysia with the support of The Malaysia My Second Home (MM2H) program
Malaysia my second home program | mm2h Program | Program retire in Malaysia
Malaysia My Second Home Program- Who Must Opt for This Program?
Malaysia My Second Home program can be opted for by any foreign citizen who wishes to stay in Malaysia for a long time or spend time here after retirement. It has got full approval from the Malaysian government. The program is open for the immediate family members of the applicants as well. Find out the benefits of this program:
- You will receive a 10- year Visit Pass along with Multiple-Entry Visa. This is renewable. Thus, you literally get access to this country for your entire lifetime.
- You can buy a new car or bring your car along with you from your home country tax-free. You can enjoy other tax incentives as well.
- You can run your own business in Malaysia
- You have the opportunity to lead a luxurious lifestyle at affordable costs.
The best thing about this program is that you can retain your citizenship along with all its privileges in your country. You can travel in and out of Malaysia anytime you wish as there would be no restriction on you. There are just two things that you need to ensure to be able to stay here. Firstly, your monthly income should be RM 10,000/month or equivalent and secondly, your liquid asset should worth RM 350,000 or equivalent if you are above 50 years old and RM 500,000 if you are below 50 years of age.
There might be a question in everybody’s mind as to who needs MM2H Program? People who are facing any or all of the below mentioned problems need this program:
- High cost of living in one’s own country
- Rough and dreary weather causing allergies and illnesses
- Dream to be a resident in a tropical paradise
- One’s own nationality is limiting him from investing or showing one’s entrepreneur abilities.
- Have a government that levies taxation on everything- assets, income and capital worldwide
- People who stay in a zone of political, social or economic unrest and instability
- Resident of a country where it is necessary for every family member to serve in the army
- Lives in a country or have a nationality that has limits or restrictions on travelling
- People who wish to change their permanent residency
- People who care about their family and want to ensure their safety from any unforeseen disaster that might hit their own country of residence
- People who stay in a country where there the crime rate is ever increasing
If you are planning to retire overseas and want to know the perfect timing for retiring, here are some tips to retire early and rich:
- Even if you have lots of money, it is advisable to retire at a place where the cost of living is affordable. This is because you need to fight with illness associated with old age. Retiring in a place that offers cheap medical insurance policy would let you use your money wisely.
- It is also important to find an affordable place to retire to be able to save money on housing. In many developed countries the cost of maintaining property is very high because of the extreme climatic condition. However, since Malaysia enjoys a moderate weather, the cost of maintaining property low thereby making housing cost minimum.
- Another thing to consider while looking for an affordable place to retire is the rules and regulations for buying properties. Get to know the amount of taxes levied on property, availability of exemptions, etc. A good thing about retiring in Malaysia is that the government here does not charge any tax of income earned overseas. Moreover, there is no tax on property inheritance and capital gains tax on assets except on property. Even there is no VAT. There is only Government Sale Tax of 5% on restaurant and hotel bills and on professional bills like attorney’s fees.
- It is better to plan for retirement while you are still working rather than going to an affordable place straight to settle after retirement. This would give you opportunity to plan carefully and in an informed way. Moreover, this would ensure a retirement that would be cheap as well as enjoyable.
If you need some more information on program retire in Malaysia, you always have a help at hand. Get in touch with executives at Comfort Life Corporation by 12 Retire in Malaysia team. They would give you expert tips on anything you want to know about retirement. Do not wait for the day you would retire to apply for MM2H program since it may get too late as nobody knows when this program may get suspended. Secure your future as early as possible by applying for early retirement visa to stay in the beautiful country of Malaysia and enjoy a lifetime of bliss with your closed ones.