Malaysia Residency by Investment: A certain favourite amongst expats looking to move abroad
Continuing with our theme of residency by investment, and we’ll be looking at a great option for anyone considering a move overseas, Malaysia. Situated in Southeast Asia, Malaysia’s capital city is Kuala Lumpur, a bustling global hub for locals and tourists alike, full of culture, cuisine and vibrancy to lose yourself in. Malaysia is also a Commonwealth member, meaning there are close ties with Britain and English is widely spoken, something useful to know if you are worried about any language barriers in your relocation!
The nation has one of Asia’s strongest economies and continues to grow industrially and politically, and the Second Home program available to foreign citizens means this is surely set to continue!
If you are looking to relocate to Malaysia, the rent is extremely affordable, currently sitting at over 68% cheaper than the United Kingdom, presenting opportunity for more saving and the ability to spend more on your equipment and experiences without worrying about paying your bills.
As well as this, if you have a family, the average cost per month to live is just over £1,100, making the overall cost of living relatively low compared to countries across the globe. It is important to factor in the cost of internet as well, which for 60Mbps and upwards is around about £22, showing that for digital content creators, Malaysia has its arms wide open, welcoming you into an environment catered towards your profession.
What are the steps?
This really could not be simpler, for over 50s, US$34,000 must be deposited into a Malaysian bank account while for under 50s, this figure is US$68. Once done, you must purchase Malaysian medical insurance and obtain a medical report in the country.
What are the benefits to me?
In terms of taxes, you are often not taxed on any foreign income, while if you have a business, the flat rate sits at 24% for non-resident companies. These figures are interesting as they too present an opportunity to see more of your money than you would in the Europe or the United States, making Malaysia stand out as not only being affordable, but also tax friendly. In terms of capital gains, the only tax found here is on the sale of real estate and land.
Malaysia is a fantastic place to settle as an expat due to the sheer number of things to see and do to occupy your time and give you endless ideas from which you can formulate content. For instance, the presence of major sports, designer outlets, entertainment facilities as well as the natural locations to visit, all provide countless opportunities to experience a new culture while also having the kind of infrastructure you may find in Europe or the United States. Not only this, but Malaysia is very popular with people relocating, and there is a strong presence of the English language, making settling in easier, the healthcare is also world class and at a low cost providing you with peace of mind.
So, if you are interested in finding out more about the Malaysia residency by investment program and its opportunities to develop business, contact us today! Below this article, you will find a link to set up a free fifteen-minute consultation with us to discuss your options further.
Also, if you want to access our other great content, subscribe to our YouTube channel! At Creimerman, our team of professional global citizens would be happy to help you with your personal or professional cross-border ventures and help make them a success.