Alexander and Mei Ling's Journey to JB-Living with Malaysia's MM2H Golden VisaAs Alexander and Mei Ling approach retirement, they've begun to seriously consider the Malaysia My Second Home visa. With rising costs in Singapore making it increasingly difficult to stretch their savings, they view MM2H as the perfect opportunity to enjoy a comfortable life, one without financial stress going forward. Owning a paid-off condo in Serangoon and having investments in the STI, their assets in Singapore provide a pretty good cushion. Yet, it's Malaysia, specifically JB, where they see their future.Lower Minimum Property Price for MM2H Holders Why MM2H? Well, for one, MM2H participants, like Alexander and Mei Ling plan to be, benefit from a lower minimum property price threshold compared to non-MM2H holders. This means they can acquire a home in Malaysia at a much more friendly price than those not on the MM2h visa. In all likelihood, the couple will buy something more spacious than what they can afford in Singapore, possibly even a landed home, something that's been a bucket list item for them since as far as they can remember. Tax-Free Transfers All the money they plan to transfer from their banks in Singapore to their Malaysia bank, once they've been approved for the MM2H visa, will be completely tax-exempt. This ensures that all their money, including any dividends or capital gains earnings from the STI equity they're holding, is fully available to them, to spend on their new Malaysian lifestyle—quite a welcome bonus. Cost of Living and Exchange Rate Advantage Alexander and Mei Ling are excited by the lower cost of living in Malaysia. With the SGD going considerably further in JB than across the Causeway, thanks to the lucrative exchange rate with the Ringgit, their monthly expenses will be much lower than in Singapore, allowing them to live comfortably even as they're effectively living the expat lifestyle. Spacious Living & Malaysia's Nature The couple is also drawn to Malaysia's living space and its abundant nature and wide open outdoors. From the beautiful islands off the east coast, such as Pulau Tioman and Besar, the rugged verdant jungles, to the cooler highlands, they look forward to a more relaxed, spacious and nature-filled lifestyle compared to the compactness of Singapore's concrete jungle. English Widely Spoken One of their concerns was communication, but since English is commonly spoken in Malaysia, especially in JB, they feel reassured. Additionally, there's already a sizeable Singaporean expat community in JB, comprising many other forward-thinking like-minded countrymen and countrywomen that spotted this unique Malaysia/Singapore arbitrage opportunity. These early movers are likely to provide the couple with all the assistance they may need to transition smoothly. RTS Line: Faster Commute Across Straits Alexander and Mei Ling have heard about the upcoming RTS line that will significantly cut down the time it takes to travel between Singapore and JB. This added convenience means that they can visit family and friends in Singapore without the hassle of long commute times or traffic jams. Essentially, this brings Singapore even more within reach than it already was. Growing JB Infrastructure JB's infrastructure is rapidly improving and with property prices still low, the couple sees a real opportunity to acquire a place they can call their own in JB, probably after renting for a few months or so. After all, from excellent shopping malls to very affordable daily expenses, JB offers a lifestyle that suits their needs. Well, at least while stocks last, that is, because the housing market appears to have already begun inching upwards as more and more Singaporeans have become keen to be part of the rebasing to JB wave. Affordable Top-Tier Healthcare Healthcare in Malaysia is another major draw. With private healthcare available at much lower costs compared to Singapore, they can access top-tier medical services without breaking the bank. Better yet, some of the clinics in JB are owned and run by Singapore-based medical groups, like Gleneagles Medini and Regency Specialist Hospital, both accepted by CPF/Medisave. Talk about enjoying the best of both worlds. Renting Before Buying So the couple intends to rent in JB first while getting a feel for the better residential areas. This will give them time to assess their long-term plans before committing to a property purchase. No need to commit in a hurry, since MM2H offers this flexibility. Returning to Singapore Always an Option Finally, Alexander and Mei Ling can always return to Singapore, where their paid-off condo awaits them once the lease to their tenants expires. This flexibility provides a safety net as they embark on this new adventure. True North So there you have it, all the reasons why more and more Singaporeans are relocating to JB these days. The opportunity does seem one that's too hard to pass up, especially since Singapore is never more than a quick hop away. If you're interested in finding out more about life in JB or MM2H, you can find full details on MM2H.com.sg. |