Retirement in Malaysia
One of the well known nations in South East Asia, Malaysia is a popular tourist destination and a booming commercial hub. Kuala Lumpur, the capital city ranks among the booming commercial hubs in Asia. Malaysia has a vibrant atmosphere and also scenic beauty which make it one of the top tourist destinations. Thousands of travelers from various parts of the world come to Malaysia to spend a charming vacation. Retirement in Malaysia is an excellent choice for a peaceful life with numerous opportunities.
With a lot to offer the retiree from busy cities to state of the art infrastructure, excellent health care, irresistible seafood and cheap spa pampering, Malaysia is the most attractive Asian retirement destination for American retirees. Ever since the Malaysian government introduced the “Malaysia My Second Home” (MM2H) program, the country has gained increasing popularity among foreign retirees. The program provides incentives for foreign nationals, especially retirees, to relocate and retire in Malaysia permanently.
When you first apply for Malaysia visa, you’ll initially receive a five-year visa which provides unlimited entry and exit privileges. There is no requisite minimum annual residency period. After the first five years of holding a visa, you can apply for permanent residency. Although it’s not guaranteed that you’ll get permanent residency status, if you continue to meet the conditions, you can expect automatic renewal of the original visa.
Retiring in Malaysia offers great tax advantages, as income (including pensions) earned abroad is not taxed by Malaysian government. Further more, no inheritance tax and abolished capital gains tax is imposed on foreign retirees. Unlike Thailand where there’s restriction on non-Thai ownership of real estate, it’s easy for foreign nationals to buy property in Malaysia. Besides, Malaysia being a former British colony, English is widely spoken and understood in the country; thus there’ll be no language problems for US retirees in Malaysia.
If you wishing to retire in a nice and serene place after you retire, Malaysia can be your right choice. Living in this country can be a wonderful alternative in the post retirement period as you can avail of high quality facilities and services. So, come to Malhttp://retirement.futureyears.com/aysia and have a delightful experience.
For foreign nationals, there are many opportunities retiring in Malaysia which make living here a good experience. Malaysia consists of excellent infrastructure and other basic facilities and services. All these facilities and services are available at affordable rates. Some of the factors which have led to the growth of retirement in Malaysia among US nationals are:
Compared to other countries, a number of financial benefits are available in Malaysia. The rate of taxation in the country is moderate. To become a resident of the country, you need to pay the Malaysian Income Tax. This tax is beneficial as you cam enjoy all the facilities and services like a normal citizen. Another advantage is that, no tax is charged on any type of income that you make outside the country. You need not pay taxes on the Fixed Deposits of RM 100,000 in any registered bank. Some of the registered banks include Citicorp, Standard Chartered Bank, HSBC and so on.
Health care benefits
Quality health care is provided in Malaysia at affordable rates. The country is home to hospitals and medical centers where one can get high class treatment facilities and services at affordable rates. The excellent medical facilities are backed by teams of world class doctors and professional support staff. The wonderful medical facilities have made Malaysia one of the preferred treatment destinations for the retirees and older Americans. If you retire in Malaysia you could avail the unique state of the art facility and quality services in health care.
Low cost of living
Compared to other countries, the cost of living in Malaysia is low. The basic facilities and services are available at affordable prices. Real estate prices are also not so high and as such you can find an ideal location to stay at reasonable rates. The low cost of living is an edge retiring in Malaysia over other retirement locations.