It has become a general trend that people all over the globe search for an ideal place to relocate and settle down after retirement. Malaysia comes in the top rank, in the list of the places to relocate after retirement. This is not a new trend. Many reasons are there that made Malaysia a popular place to settle after retirement.
1. Favourable factors of MM2H visa:
- The government encourages the idea of foreigners coming down here and stay in Malaysia for a long time. To back their initiative, they have started MM2H or Malaysia My Second Home visa programme in the year 2006. Some of the incentives carried with the visa programme are as followed:
- Purchase of a property: When you are a holder of MM2H visa, you can buy any number of real estate properties. However, you need to pay the minimum amount levied by the local government of a particular state in Malaysia.
- Purchase of a vehicle: An MM2H applicant can either import or buy a new vehicle in Malaysia without paying any tax. A single holder of visa can purchase a single vehicle without paying the tax.
- Entry permission for a domestic helper: You can bring in your maid with you.
- Educational benefits for children: If your children are also MM2H visa holders, you can enrol them at local schools or colleges.
- Tax exemption: If you want to remit your offshore pension fund, you can do so without paying any tax.
- Part-time work permits: The MM2H visa gives you the right to work as a part-timer provided you are above 50 years old. One is eligible to work for a total of 20 hours per week.
2. Comfortable climate: People want to spend cosy days after retirement and in this case, a comforting climate plays an important role. Malaysia is blessed with a soothing tropical climate, neither suffering from a harsh cold or a hot season. 3. Affordable cost-of-living: Unlike other countries with high living costs, the cost of living in Malaysia is affordable in spite of offering high standards. This factor is an inspiration for those who want to retire in Malaysia. It helps to save more in the way of retirement nest egg.
4. Advanced yet affordable medical facilities: Malaysia is famous for its advanced medical services. If you are a MM2H visa holder, you can easily purchase a health insurance policy. You can avail the top medical services covered under the policy after paying a nominal premium.
5. Easy availability of residential properties: Before you settle down in a country, you need to rent or purchase a house. The options of homes for rent or purchase are not limited in Malaysia. Now, you can take the help of high-tech property portals to search for a house that fulfils your requirements.
6. Investor-friendly real estate industry: Days of retirement require you to save or earn money so that you could maintain an equivalent lifestyle. If you have surplus of money, you can invest in Malaysian real estate. Given the trend, it is expected that in the coming years, the prices of properties will rise further. You can sell your property after some years and earn a good deal of profit. After going through the above-mentioned points, one will realise why some people are thinking of retirement in Malaysia as an attractive option. If you too want to lead a good life, think about choosing Malaysia as the country to settle down after retirement.
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