Re: Why Retire in Malaysia?
 

You don't always pay the same price as locals in Malaysia.

Agree with the better climate bit though depends where you are. And what about power cuts? We have had just 1 short powercut in 3 years in Penang. In Phuket it was several power cuts per week.

Your comments 1, 2 and 4 re Thailand are just plain incorrect IMHO.

MH, the guy is looking for a decent retirement place with good air connections.

Re: Why Retire in Malaysia?
 

BB,
Maybe one reason why we are disagreeing is I'm more familiar with Bangkok & KL and I believe you're more familiar with Penang & Phuket. Anyway, our experiences were different for whatever reason. I'm not saying that you always pay the same price as the locals, it just seems that you're more likely to pay the same price in Malaysia than in Thailand imo.

I didn't understand your disagreement about religion becasue all I was saying is Malaysia is more Muslim than Thailand...and I personally know a lot of people who won't go or won't move to Malaysia becasue of that. BTW, I'm not saying that I wouldn't move there for that reason.

I respect your opinion and will defer to it especially in regards to anything about Penang/George Town...I'm glad it's working for you and I still am considering it.

Re: Why Retire in Malaysia?
 

Yep, noted, thanks for explanation.

Yes I see what you are saying about the Muslim issue. I guess I have a particular bee in my bonnet on this score because I used to think that way too, especially when I lived in Singapore, and you get all the anti propaganda about Malaysia..... or at least that's how it seemed to me.

I think one has to Go See Penang and Malaysia and make up one's own mind, which is what we did eventually. I regret not checking it out sooner though. But, there ya go, Phuket/Thailand was a life experience I suppose.

Re: Why Retire in Malaysia?
 

MH Even as a convert to Islam, I have yet to see anyone trying to control my life - but perhaps that could be because I have converted? Or perhaps because I live in Melaka? and by that I mean they do not force me to attend a mosque or even join in prayers. They leave it up to me as to whether I want to join in or not. Neither have I seen any attempt at controlling others.... My wife, however, does expect me to make an effort and wear "baju Melayu" during the Hari Raya celebrations. I don't have a problem doing that and have often received complimentary comments for doing so.

In addition, I worked in Malaysia (Petaling Jaya) from late February to Mid October 2006 (prior to my conversion which was in 2008) and did not see any evidence whatsoever of any attempt to control non-Muslims and I worked with a number of Muslims, Chinese and a few Indians as well.

Re: Why Retire in Malaysia?
 

That's a good and interesting post Bluenose. I like the Malays in Penang, great sense of humour.

Re: Why Retire in Malaysia?
 

Hi again. First of all thanks for all the replies so far.

Just to clear up one slight misunderstanding – I said I’d been to Singapore but I didn’t say I liked it - the perennial problem of smog arising from the “big burn” in Sumatra would be enough on its own to put me off Singapore. I’m not sure how far north this smog problem extends – I seem to remember reading that KL also suffers from this but hopefully not Penang?

Chiang Mai in Thailand, delightful in most other respects, and a big retirement magnet in Thailand is also a big no for me because of their pollution problems all of which are home-grown and include burning.

Thanks, BakedBean, for the pointer to a French Association in Penang – I will follow up on that.

Mad Hatter’s comparison between Thailand and Malaysia is interesting except for the comment about Chiang Mai’s climate – if Malaysia’s climate really is worse than Thailand’s then this is cause for concern. As for the friendliness of the people, one has to make a distinction between friendliness and genuineness (if that’s a word). I’ve witnessed extremes of kindness and deceitfulness in Thailand – how does that compare with Malaysia?

Regarding dual-pricing, this is true the world over – if you are perceived as a tourist you will never get the same deal as a genuine local. For me this is not a big concern.

Which brings us to Mad Hatter’s elephant in the room – Islam. I should mention that my partner in my building company in France is Muslim, as are all my employees. My problem is not with individuals nor with the religion they choose. It is when a religion, and it followers, are manipulated by power-hungry politicians, whether elected or self-appointed, in order to pursue an exclusive rather than an inclusive agenda.

We’ve seen this happen in several Arab countries. Optimistically dubbed “The Arab Spring”, it usually starts in the poorer areas of these countries and typically targets the more successful minorities who are often racially or religiously recognisable. Malaysia is often referred to as the “jewel” in the Muslim crown in that it has for some time balanced its successful capitalist economy with its tolerant but majority-Muslim culture. No-one can know if or when any trouble will flare but one can at least try and stay away from the borders where such a conflict might arise. Anyone who has a view on where to avoid as well as where to settle, please make their suggestions.

This brings me back to the many questions I posed in my indecently long post. Can anyone help me please?

Re: Why Retire in Malaysia?
 

InVitoVeritas you might want to consider Sabah. It is different from West Malaysia in many ways, less developed, and the population mix Chinese/Malay is not the same as in the peninsular. I expect you plan to 'dip your toe in the water' by spending time in different places before deciding where to settle and I suggest Sabah is one place to try. Regarding France, my parents used to have a static caravan in a park just inland from Frejus. Spent many happy holidays there. Great part of the world.

Re: Why Retire in Malaysia?
 

Hi BB
I had been to Georgetown twice in the past 12 months and really love that place.I am Indian and I would like you to clarify a few doubts.

1.This 150 K deposit is for family or each individusl
2.Can I include my wife and daughters income in monthly earnings
3.Is it mandatory to show 350K balance in my savings a/c every month

Re: Why Retire in Malaysia?
 

Hi Chase and welcome to the forum :)

I presume you are referring to the MM2H visa? I am no expert on MM2H and I don't keep up to date with all the ever changing rules/requirements but...

1. Are you referring to the 150,000 Fixed Deposit required by Over 50s after gaining approval? The MM2H visa has one main holder (that may be you) and if you are including your spouse and possibly children up to a certain age, they will be dependents. The visa actually looks exactly the same as the main holder's in your passport. So, in answer to question, it's just the one 150,000 Fixed Deposit. Dependents do not have to place another deposit(s).

2. I think you can include spouse's income but not sure if it needs to be in joint names. It wasn't the case, when me and mr bakedbean applied, but that was nearly 4 years ago, and rules have been tweeked since then. I would suggest you look first at the MM2H government website here.

If you cannot find the answer there, have a good look through the MM2H info site here. You'll find a lot of folks on there who have got the MM2H visa, and recently.

Also, if you haven't already done so, take a look at the sticky on this forum here.

3. As I understand it, currently, on application of the visa, you need to show the latest 3 months’ statement with each month’s credit balance of RM 350,000. Once you have obtained approval, under current rules (as at June 2013), you don't need to show this ever again. You can check out the Terms and Conditions on the gov site here.

Hope this at least part answers your questions.

Re: Why Retire in Malaysia?
 

In Penang we call it The Haze and, usually, that's all it is, just a bit misty during the burning months in Sumatra. Rain clears it of course and we sure get plenty of that at this time of the year.

I've no doubt you've been reading the papers recently and there was a really horrendous amount of haze coming across which smothered the south of peninsula Malaysia and Singapore for a few days. Not nice and unusually bad. A couple of days after that, we had our turn in Penang, and had 2 days of very hazy days...the worst I have seen in 3 years here.

Quite honestly, from what you have said in your first post, I think you will find it very difficult to find Utopia. It doesn't exist....trust me. I don't think you will tick all the boxes. Your best bet IMHO is just to come out here, take a look, see if it feels comfortable for you. Let's face it, you may arrive and just hate it, then all this research will be worthless. But....just my thoughts.

Re: Why Retire in Malaysia?
 

Thanks BB for your quick response

I have been seeing the my2home site also.Still needs more reading

1.One more question ,a tricky one;whether the 350K has to be in a single name or can it be in joint like FD,PPF etc.or only in SB

I have to start rearranging the funds and it will take 3 months before I start the process

2.My daughters are in Singapore one working and another studying and would like to include them as my dependants.Is it possible

Re: Why Retire in Malaysia?
 

I don't know the answer to question 1.

I've just looked at the front page of the MM2H government website which says
quote
Applicants are allowed to bring their spouses and unmarried children below the age of 21 as dependants
Unquote

Re: Why Retire in Malaysia?
 

I'm new to this site and have many more questions than answers but I have looked quite carefully at the MM2H scheme and would make the following observations:-

BakedBeans answers are right on the money - assuming you are over 50 years old.

As to whether the RM350K balance for the 3 months prior to applying for the MM2H can be held in a joint account with your wife I would say the answer is yes provided that she is on your application as your spouse. This must often be the case when married couples settle in Malaysia under MM2H so it would be very strange if this were not accepted.

As for being able to include the income of your dependants in order to meet the minimum income requirements I would say that is an UNREASONABLE expectation. Your dependants, by definition, are dependent on you and not the other way round.

As an aside, the MM2H application form allows you to bring several wives with you!

Re: Why Retire in Malaysia?
 

I do take your point BakedBean but the alternative is even worse. You go somewhere fall in love with the place, put a deposit on a condo and then realise you really know nothing about the place. Even if I don't get answers to all my questions it would be great to get some pointers especially regarding places/areas worth looking at.

Re: Why Retire in Malaysia?
 

If the opposition in the last election (a month or so ago) are anything to go by, then this DOES happen in Malaysia. I'm not sure the government would like it to be known as manipulation, but certainly Malaysia has the "bumiputera" principal whereby for instance, certain areas of land and houses can only be bought by indigenous Malays (for that, read Muslim) so you might read "exclusive agenda" there. I believe it also applies to certain type of employment. There have been a number of demonstrations against the election result, and there were numerous claims of different forms of corruption before, during and after it. How true any of the claims are remains to be seen.

It is certainly very tolerant and (although I cannot say from experience) IMHO I think it is probably the most moderate of Muslim countries - certainly more relaxed than what I have heard about Middle Eastern countries. The "worst" area is probably the border region with Southern Thailand although they do have Syria Police in and around most cities. They seem to be mainly concerned with catching Muslims "in proximity" i.e. unmarried males and females together un-chaperoned. :blink: although they also like to crack down on drinking and gambling too!

With regards to the climate comparison with Thailand - admittedly I only spent 5 weeks in Bangkok back in 2006 (and not been back since), but I found it hotter and the humidity to be at least on a par if not worse than KL. I spent a few weekends in Singapore too, and found that worse as well. I guess that's maybe down to personal interpretation?

As for the smog, as BakedBean mentioned, this year has been by far the worst for a number of years in Singapore and Southern Malaysia. We were actually in Indonesia when the worst of it was over Melaka, but the family did say it was very bad for a couple of days - you could even see a slight haze indoors as well as smell burnt wood apparently! We came home last Sunday and there was a bit lingering between Sepang and Melaka and my wife did complain of a sore throat on Monday. Schools here were closed earlier in the week but everything seems to be back to normal now.

My turn to apologise for a long post!

Re: Why Retire in Malaysia?
 

sorry guys for interrupting..

InVinoVeritas .. feel free to read the AES student writing in her blog

withlovefrommalaysia.blogspot.com/

you can see it from her view, what it is like to be a part of malaysian..

and for arab spring.. it wont happen here.. i can assure you..

Re: Why Retire in Malaysia?
 

Interesting blog, Amiez, and welcome to the forum :) Thanks for that link. I'll have a good read of that tonight. Interesting to read other people's views, those coming back to Malaysia, but....... not sure how relevant to retirement in Malaysia.

How about you, Amiez? Are you in Malaysia? Are you retired? Any personal views on the topic? I love it here, despite some personal problems over the last couple of years, still wouldn't wish to be anywhere else.

Re: Why Retire in Malaysia?
 

whatever you do,most importantly of all,come and check out Malaysia first. Before deciding to make it your home.

I didn't do that.I now regret it

Ken

Re: Why Retire in Malaysia?
 

Good advice Ken,

Malaysia is certainly a different way of life to that of Europe, USA, Australia etc. It is not for everyone though and the only way to find out if it is for you is to 'try before you buy' which IMHO means a minimum one month visit. I love Malaysia but elements of life here can be frustrating and there are a few things I miss from UK. Overall though, I am very happy with my choice of home.

Re: Why Retire in Malaysia?
 

Anything in particular?

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

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.:cool:

Re: Why Retire in Malaysia?
 

thanks reg...err reassuring, i think

Re: Why Retire in Malaysia?
 

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.

Re: Why Retire in Malaysia?
 

Ah...Kedah a bit different to KL me thinks. Hang on in there. Look forward to hearing about life in Kedah.

Re: Why Retire in Malaysia?
 

will do Kaz

Re: Why Retire in Malaysia?
 

okey dokey kenz

Re: Why Retire in Malaysia?
 

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.

Re: Why Retire in Malaysia?
 

You might want to post this in the Thailand section?

Re: Why Retire in Malaysia?
 

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

Re: Why Retire in Malaysia?
 

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.

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.

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

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.

Re: Why Retire in Malaysia?
 

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.

Re: Why Retire in Malaysia?
 

Yeah that's was my reading also that under MM2H all income derived outside Malaysia is not taxed. I guess the ony question is what about money made trading while in Malaysia. I have the same question myself. Will the IRS 911 rule apply exempting taxes on the first $95K if generated in Malaysia and how would Malaysia treat that income.

When I hear money laundering in Malaysia, I think it's because Malaysia is a center of Islamic Banking and many of the funds that were used to fund the 911 attacks on the US were banked in Malaysia or at least that's what I was told.

Re: Why Retire in Malaysia?
 

I'm not American (Canadian actually) but have some knowledge of the US system as I lived in Arizona for many years.
My understanding is sect. 911 to the IRS code is available to all USA CITIZENS that live outside of the USA.
Therefore, I suspect that any gains from investing in the Malaysian market would be taxed in Malaysia and the first US$95,000 gain would be exempt when filing in the USA.
Therefore I do not think it prudent to invest in the Malaysian market...(try the Hang Seng Market (Hong Kong) gains where Capital Gains are not taxed...at least not when I lived there, but you need to double-check)
Any gains would be exempt in Malaysia, if an MM2H holder, and sect.911 rule would exempt tax on the first US$95,000 gain, in the USA.

Re: Why Retire in Malaysia?
 

I apologise to madhatter as I thought my last post was responding to greygoose.
Nevertheless, my posts are for all to read.
MH..... you claim that Malaysia is a money-laundering society but say "what I heard".
What and where did you hear that Malaysia is the center of Islamic banking?
To me it makes no sense as Malaysia has a population of nearly 30 million. Indonesia, where I reside, is predominately Muslim and has a population of around 240 million...give or take a few refugees waiting to NEVER go to Australia according to PM Rudd's latest edict. There are sharia banks everywhere on this planet. Are you aware there are more Muslims in China than the whole population of Saudi?
I don't want to offend anyone but, having lived in Malaya/Singapore/Hong Kong since the mid 50's and now retired (76 y/o) in Bali.... may I offer this advice...... a foreigner living in Asia takes the good with the frustrating...if you don't like the temperature/politics/tax/language/food/education/pavements.......better stay home and be cozy.

Re: Why Retire in Malaysia?
 

Davita,

I was responding to a previous emai about banking in Malaysia that another poster had made. I commented factually that Malaysia is a center of Islamic Finance. http://en.wikipedia.org/wiki/Interna...slamic_Finance I understand this through working in the Middle East and what Arabs have told me. Indonesia, though much larger , does not have near the banking industry as Malaysia. I made no comment or insinuation about whether I considered Islamic banking a good or bad thing...imo it's neither, it's based on Islamic values and Sharia Law. I did hear from people that I respect who are Arab Muslims that Malaysia will not be a target for terrorism becasue of the Arab Gulf money stored there. I don't know this to be true but I've never heard of a major incident in Malaysia like you have had in Indonesia and particularly Bali.

Now I have read some of your posts about Jakarta & Bali and I would like to visit those places sometime to see if I would possibly enjoy living there. Bali in particular seems very nice. I'm approaching mid-50's so I'm in the looking stage. I like Thailand and Malaysia, and some areas of PI, but haven't been to Indonesia yet. I realize there are pros and cons to every place.

I do appreciate the valuable information from those on the location like yourself and I really want to see Bali. My biggest problem is overanalysis but I'm just not a frivolous decision person.

Re: Why Retire in Malaysia?
 

QUOTE... I did hear from people that I respect who are Arab Muslims that Malaysia will not be a target for terrorism becasue of the Arab Gulf money stored there.....UNQUOTE

I knew there was a good reason to maintain my MM2H Visa...One more pub being bombed in Bali and I'm heading straight to Penang!!!:amen:

Changing the subject a little.....Indonesia is great place to visit, due to its diversity, but not as good to live as the long-term visa is much harder to get than Malaysia.