Tax heaven countries for vegans
Have you ever wanted to move to another country but were worried about the food culture? This happens to vegans all the time....
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Malaysia
Overview
Malaysia is one of Asia’s most vibrant economies due to its continued industrial growth and political stability. After gaining independence, Malaysia joined the British Commonwealth. A member of the UN and APEC, it is also a founding member of ASEAN. Malaysia offers excellent beaches, breathtaking scenery, and dense rainforests.
Malaysia My Second Home Program started in 2002, allows foreign nationals who fulfill certain criteria to stay in Malaysia on a multiple-entry social visit pass.
This program requires applicants to meet certain criteria and, in exchange, they and their dependents are granted a 10-year multiple-entry visa. This visa is effectively a residence permit, enabling the successful applicant and their family to live in Malaysia.
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Straightforward, efficient residence by investment program
Ability to include a spouse and children who are not married and under 21 years old
Taxation only levied on income sourced in Malaysia, and an extensive network of double tax agreements in place
10-year, multiple-entry, renewable visa, with no minimum stay requirement
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Investment options:
Requirements of the program:
Upon application, the main applicant is required to: • Submit proof of bankable assets worth a minimum of MYR 1.5 million (approximately USD 350,000). • Submit proof of offshore income worth a minimum of MYR 40,000 (approximately USD 10,000) per month.
Steps to follow
Step 1 - Preliminary Check:
Our specialized team will review the documentation submitted to verify that the immigration requirements are met. In addition, we will verify the transparency of investment funds. As a result, we will have a background check report and signed contract.
Step 2 - Choose of Investment:
You must select the investment option that most convinces and suits you, so that later we can start the process. If you decide to obtain residency through real estate investment, we will help you choose your property based on your needs and desires.
Step 3 - Preparation of documents and sending to the corresponding agency:
We take care of everything: we obtain the criminal record certificates, we fill out and complete the government forms, we certify the documents before a notary, we do the translation and apostille everything (this service has a separate cost), and then we send it to the residence. We present your documents independently and with strict compliance with the requirements, as well as monitoring the progress of the application. As a result, we will confirm the receipt of the documents by the government.
Step 4 - Due Diligence check:
Once the residency agency receives all the documents, the applicant's background check begins. In the event that additional documents are required during verification, we will handle those requests.
Step 5 - Case Investigation:
We look forward to a positive resolution and receive the new documents together with you. If necessary, we can also help you with other operational, commercial and even domestic matters (including the arrangements of additional documents).
Step 6 - Receiving residency:
When the investment and all fees are paid, you receive the certificate of residence. Then, these documents are sent to you, so that after the wait, you can start enjoying them.
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FAQ
For how long will I have the residence?
You would have this permit for 10 years, with no minimum stay requirement.
What documents are required?
• A completed application form with a photograph. • A copy of your passport. • Documents that prove your income is legal. For example a employment contract. • Certificates of no criminal records. • Health insurance policy. • Payment documents confirming the payment of state duties and fees. • Documents confirming the fulfillment of the investment conditions stipulated in the application.
How is taxation in Malaysia?
Taxation only levied on income sourced in Malaysia, and an extensive network of double tax agreements in place.
Is dual citizenship accepted in Malaysia?
Unfortunately Malaysia strictly forbids dual citizenship and any person obtaining a second citizenship automatically loses the original citizenship.
With what currency must the residency programs be paid?
This residency program should be paid in Ringgit malayo.
How strong is the Malaysia visa?
The Malaysia passport ranks 12 in the world providing you free access to 182.
Can I bring my family in this experience?
Yes, However, you can only include a spouse and children who are not married and under 21 years old.
Can the residence be purchased with an investment in Real Estate?
Yes, there is a very stable real estate market that offers significant opportunities to investors as well as resident property dealers.
In what cases can my application be rejected?
Most of the applications are authorized, however there are some reasons why you may have difficulty with this residency. Such us: • Having criminal records. • Lack of documentation. • Do not meet the minimum time in the country.
The main applicant must go to Malaysia?
The whole process can be arranged without being present in the country.
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