Fendi and Siti Rahmat's Early Retirement in JB With the MM2H Gateway
Fendi, an operations manager and his wife of 28 years, Siti, an administrative assistant, are in their early 60s and have fully paid off their apartment in Bedok. With a fixed deposit in place, they're planning to relocate to JB through the
Malaysia My Second Home visa. The couple is eager to take advantage of the golden visa's privileges and benefits. In fact, they estimate that with the more affordable cost of living in JB and the lucrative SGD to Ringgit ratio, they'll be able to upgrade their lifestyle by a notch or two.
Lower Property Thresholds and Rent-Before-Buy Option
One of the most appealing aspects of JB on the
MM2H visa for Fendi and Siti is the lower property threshold they're entitled to once they've been approved for the visa. Compared to Singapore's steep housing market, JB offers much more affordable home options. And with the added MM2H privilege, they may end up paying RM100,000 or more below the rate that foreigners pay who do not have this visa.
Still, they're planning to rent a JB property initially all the same, before committing to buying their eventual home. In so doing, they get to push forward the moment they need to commit to the purchase of a property. In the interim, they're able to explore the various residential neighbourhoods in JB's more leafy suburbs, ensuring they pick the property they really like. A prudent move. And MM2H gives them a full 12 months to decide, which is quite a generous timeline.
Life of Luxury
Thanks, at least in part, to the favourable SGD to Ringgit exchange rate, Fendi and Siti will likely live the lives of expats, including all the enjoyable luxuries that tend to come with this kind of lifestyle. One of these is the landed home that they've always dreamed of living in but that has always been completely out of reach in Singapore. They'll most likely also end up owning a car, preferably a nice SUV if it's up to Fendi.
And, since both are avid golfers, there's the golf club membership, along with the regular recreational excursions and the invariable weekends away at island resorts off the Johor east coast. With their purchasing power at least tripled in Malaysia, all kinds of fun things are now at the couple's disposal.
Such is the power of this one-of-a-kind arbitrage opportunity offered by the set of circumstances between Singapore and Malaysia. And Fendi and Siti aren't the only ones that have decided to leverage this opportunity. Far from it. More and more forward-thinking Singaporeans have realised that they, too, can enjoy their retirement in comfort and style by rebasing to JB. And rightly so, because at the end of the day, you only live once.
Bank Transfers Not Taxed
Another benefit of MM2H is that it offers holders the privilege of transferring funds to Malaysia without this cash flow getting taxed. This is a considerable windfall, because, clearly, these incoming international bank-to-bank transfers are the lifeblood of all foreigners residing in Malaysia. Let's face it, not having this constant flow of money taxed makes a significant difference in the amount of cash available for spending. It's a smart move by the Malaysian government, because they know full well that this disposable income will likely trickle down into the economy either way, with or without taxing it.
Sensational Natural Environment
Apart from the favourable monetary benefits, there's also JB's proximity to scenic areas that makes it the perfect retirement destination. From beautiful beaches on the various holiday islands, located all along the Malaysian eastern seaboard, to Malaysia's famously chilly highlands, as well as its ubiquitous patches of lush jungle. It goes without saying that the couple will have endless opportunities to explore Malaysia's breathtaking nature. And with petrol as cheap as it is in Malaysia, their road trips will be double the fun.
Expats Galore and Malay Culture
With many Singaporeans already settled in JB through MM2H, the couple is looking forward to joining the expatriate community. Of course, the widespread use of Bahasa in Malaysia will help make their transition smooth and comfortable, too. In fact, given the cultural similarities they share, there's hardly a transition to speak of for Fendi and Siti.
RTS Link = Seamless Travel
Nevertheless, one of Fendi and Siti's concerns was staying connected to Singapore. However, their concerns eased the moment they heard of the upcoming RTS line. This cross-border connection will make travelling between JB and Singapore's MRT a seamless affair, enabling the couple to always visit family or friends, run errands, or simply swing by their Bedok go-to kopitiam to enjoy their favorite nasi lemak.
With the RTS, crossing the Straits was never so easy, especially since MM2H effectively allows for limitless travel into and out of Malaysia. This, incidentally, isn't quite the case for Singaporeans residing in Malaysia on the regular 30-day permit. How so? Well, too many times in and out whilst on this social pass "chop" may eventually elicit a red flag at CIQ, possibly with subsequent repercussions.
JB's Improving Connectivity
JB's continually improving infrastructure was another major selling point for Fendi and Siti. After all, JB's growth as a city promises even more conveniences as the couple settles into their new life. And with JB's star rising, whilst it seems to be taking on a Shenzhen-like role between Singapore and Malaysia, the couple is pleased with the thought that they're participating in this development too, given that their JB property will likely appreciate commensurately going forward.
Excellent Healthcare Without Breaking the Bank
Healthcare is a critical concern for retirees and Malaysia's forte happens to be that it offers world-class medical services at an affordable price. With JB boasting several top hospitals, some owned and run by Singapore medical groups, like Gleneagles Medini and Regency Specialist Hospital, both covered by CPF/Medisave, Fendi and Siti will have access to all the care they need, ensuring their health and wellbeing are well looked after. Peace of mind.
Singapore Remains Available
While they're excited about their move to JB, Fendi and Siti also appreciate the flexibility that MM2H provides and the fact that Singapore will always welcome them back. Whatever their length of stay in JB, if and when they decide to return to Singapore, their Bedok apartment will of course be there for them as well. This underlying sense of security makes their rebasing in JB project even less daunting. Life is for living, that's true, but when all is said and done, nothing beats having a home to go back to.
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