Why Retire in Malaysia?

Old Jul 17th 2013, 12:11 pm
  #181  
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Default Re: Why Retire in Malaysia?

well perhaps i'm just feeling low, waiting for our bungalow in Kedah to be given its Certificate of Fitness(is it alive?).Been stuck in outer area of KL since xmas now..no car as yet. no buses pass this part.have to rely on taxis; then driver can rarely locate the house(or says he can't) and asks for more cash.Should feel better once got new car on mm2h(a great deal,must say.new Honda Jazz for only rm37,000) around October.driving standards simply poorer than England of course, though everyone seems to muddle through. only seen three accidents up to now
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Old Jul 17th 2013, 12:16 pm
  #182  
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Default Re: Why Retire in Malaysia?

Outer KL.
Well there's your problem.
You'll get used to the driving pdq.
Or you'll be a statistic.
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Old Jul 17th 2013, 12:18 pm
  #183  
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Default Re: Why Retire in Malaysia?

thanks reg...err reassuring, i think
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Old Jul 17th 2013, 12:18 pm
  #184  
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Default Re: Why Retire in Malaysia?

Originally Posted by kennyboy33 View Post
well perhaps i'm just feeling low, waiting for our bungalow in Kedah to be given its Certificate of Fitness(is it alive?).Been stuck in outer area of KL since xmas now..no car as yet. no buses pass this part.have to rely on taxis; then driver can rarely locate the house(or says he can't) and asks for more cash.Should feel better once got new car on mm2h(a great deal,must say.new Honda Jazz for only rm37,000) around October.driving standards simply poorer than England of course, though everyone seems to muddle through. only seen three accidents up to now
Here's my question. For things like Certificate of Fitness, are they delaying approval and waiting to be bribed? My son had applied to attend law school through the University of London program through Brickfield college. He waited and was promised a student visa for months on end and never received his visa though he paid his tuition, visa application, health insurance for 1 year etc. He finally gave up and is attending university in tthe US. So are they that inefficient or are they looking for a bribe? I could never figure that one out.

37,000RM for a new Honda Jazz? Wow that's pretty awesome.
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Old Jul 17th 2013, 2:16 pm
  #185  
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Default Re: Why Retire in Malaysia?

Originally Posted by kennyboy33 View Post
well perhaps i'm just feeling low, waiting for our bungalow in Kedah to be given its Certificate of Fitness(is it alive?).Been stuck in outer area of KL since xmas now..no car as yet. no buses pass this part.have to rely on taxis; then driver can rarely locate the house(or says he can't) and asks for more cash.Should feel better once got new car on mm2h(a great deal,must say.new Honda Jazz for only rm37,000) around October.driving standards simply poorer than England of course, though everyone seems to muddle through. only seen three accidents up to now
Ah...Kedah a bit different to KL me thinks. Hang on in there. Look forward to hearing about life in Kedah.
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Old Jul 18th 2013, 5:01 am
  #186  
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Default Re: Why Retire in Malaysia?

will do Kaz
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Old Jul 18th 2013, 9:02 am
  #187  
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Default Re: Why Retire in Malaysia?

okey dokey kenz
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Old Jul 26th 2013, 11:17 pm
  #188  
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Default Re: Why Retire in Malaysia?

Originally Posted by InVinoVeritas View Post
I know that a lot of people do choose Thailand over Malaysia for retirement but either they are keeping well below the tax radar or they have no money anyway. Thailand is unusual in that it taxes on a remittance basis – this could be money you’ve earned without having tax deducted at source but equally it could also be capital or income that has already been taxed at source. And tax rates in Thailand are progressive, they may be next to non-existent for the Bangkok street vendor but can be extremely high for a retiree who is renting a nice beach-front house on Koh Samui.
Interesting post, thanks InVinoVeritas. Great to bring the tax issue up, that was needed, I have given it some thought: I have been to Penang and find it OK, and I feel very tempted to apply for MM2H, as it seem rather easy and inexpensive to get. However, I realise that Malaysia is not great place for me to have residence, because they do not have a tax treaty with the US. But Thailand have a tax treaty: http://www.irs.gov/Businesses/Intern...aties---A-to-Z
So, I would think that Thailand is a far better destination for residency, if I will avoid getting problems with tax authorities in the US and EU. Is this correct? Have anyone at this forum experienced tax problems in the US or EU regarding financial transactions, while residing in Thailand? Please correct me if I'm off on a wrong track here.
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Old Jul 27th 2013, 9:49 am
  #189  
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Default Re: Why Retire in Malaysia?

You might want to post this in the Thailand section?
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Old Jul 27th 2013, 10:35 am
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Default Re: Why Retire in Malaysia?

Originally Posted by bakedbean View Post
You might want to post this in the Thailand section?
Yes, but the issue has been discussed here, so I was hoping for an informed answer. And I understand that many here has extensive experience with Thailand as well as Malaysia. I want to "avoid a mountain of problems, as Malaysia is considered a high risk as far as money laundering is concerned" (#125). I just would like to hear, if I will avoid these problems in Thailand, as they have a tax treaty with the US: http://www.irs.gov/Businesses/Intern...aties---A-to-Z
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Old Jul 27th 2013, 10:57 am
  #191  
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Default Re: Why Retire in Malaysia?

Originally Posted by TheGreyGuy View Post
Yes, but the issue has been discussed here, so I was hoping for an informed answer. And I understand that many here has extensive experience with Thailand as well as Malaysia. I want to "avoid a mountain of problems, as Malaysia is considered a high risk as far as money laundering is concerned" (#125). I just would like to hear, if I will avoid these problems in Thailand, as they have a tax treaty with the US: http://www.irs.gov/Businesses/Intern...aties---A-to-Z
Whilst conserving capital should be important especially after retirement I don't believe it should over ride liveability as far as deciding on a country to retire to.
It may do if anyone is cash strapped but for the average retiree you have to find a place where you are sure you can live long term.
Tax issues will have a bearing but another 'big issue' may be health and the cost of either remaining healthy or the costs involved in hospitalisation etc etc.
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Old Jul 27th 2013, 11:23 am
  #192  
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Default Re: Why Retire in Malaysia?

Yes I fully agree that liveability, health cost and so on is very important. I don't know if Thailand or Malaysia is better or worse, I have only been to Penang in Malaysia. However, I'm an active investor, and I intend to continue being that for as long as I can.
This is why I want to "avoid a mountain of problems, as Malaysia is considered a high risk as far as money laundering is concerned" (#125).
I just realised that the double tax treaty between Thailand and US, http://www.irs.gov/Businesses/Intern...aties---A-to-Z may put Thailand in a much better position than Malaysia, as a place of residence for an active investor. Is this true? Has anyone at this place any experiences buying or selling stocks or other financial instruments when residing in Thailand? Or more specific, did the IRS give you any trouble? Please correct me if I'm wrong.
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Old Jul 27th 2013, 1:50 pm
  #193  
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Default Re: Why Retire in Malaysia?

Sorry, I just realised that britishexpats.com shortened my IRS link, so it goes error. Here is a shortened link that works:
goo.gl/pHz8RS
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Old Jul 28th 2013, 2:41 pm
  #194  
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Default Re: Why Retire in Malaysia?

Re liveability and health costs in Malaysia and Thailand.

I first retired to Thailand (lived there 2 and a half years) then moved to Malaysia. Re liveability Malaysia wins hands down for me but.......as always, it's horses for courses. Depends what you want from retirement.

Re health costs, I believe costs are more or less similar. You have the added complication of language in Thailand. I think, and I speak from experience here without going into too much detail, you need to factor in some large amounts of rainy day money for future health concerns. If you get something serious in the future, large amounts of cash will be required. Sure...you can pay for some fine health insurance but a lot of health insurances finish at age 60, or 65 or 70....and if you can get health insurance in senior years, it will be costly. So ....either way....needs some thought... Or a backup plan like healthcare in your home country.
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Old Jul 28th 2013, 3:01 pm
  #195  
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Default Re: Why Retire in Malaysia?

Originally Posted by TheGreyGuy View Post
Yes I fully agree that liveability, health cost and so on is very important. I don't know if Thailand or Malaysia is better or worse, I have only been to Penang in Malaysia. However, I'm an active investor, and I intend to continue being that for as long as I can.
This is why I want to "avoid a mountain of problems, as Malaysia is considered a high risk as far as money laundering is concerned" (#125).
I just realised that the double tax treaty between Thailand and US, http://www.irs.gov/Businesses/Intern...aties---A-to-Z may put Thailand in a much better position than Malaysia, as a place of residence for an active investor. Is this true? Has anyone at this place any experiences buying or selling stocks or other financial instruments when residing in Thailand? Or more specific, did the IRS give you any trouble? Please correct me if I'm wrong.
I trust you are aware that MM2H participants are not taxed in Malaysia on ANY income NOT sourced in Malaysia. That is one of the gems of the MM2H Visa.
I believe Thailand and certainly Indonesia, where I currently reside, tax on world income and that is why the double taxation treaties are essential tools.

Also,I don't know where the poster of #125 got his information but imo Malaysia is no more a money laundering risk than anywhere else. Maybe the poster can clarify. I recently read that Singapore has been seen as a tax haven and is currently tightening its banking laws to offer greater transparency.
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