Table Of Contents:

• So Why Not?
• Taxation
• Motoring
• Low Cost Of Living
• Malaysia’s Climate
• Health
• Penang Food
• Penang Art
• Beaches
• Sunset And Sundowner views
• Main Financial Criteria For A MMH2 Visa
• Tip To Find Your Perfect Holiday / Retirement
• Follow Us On Our Related Channels

“I’ve been looking at a country in S.E.A to semi-retire and having lived in many, Malaysia and especially Penang, ticks all my boxes.

Why? Visa regulations, cost of living, the people, English is widely spoken, the weather, food and the glorious coastline including the UNESCO George Town (which fascinates me).”So retiring may be an option for me in the future.

For the benefit of readers who may be considering retirement in Malaysia, or retiring in Penang, Malaysia, here are some reasons why you should consider moving to Malaysia and giving it a balanced view, some reasons why not.

This is from my point of view and a view based in Penang and at times in Langkawi, however, must apply to all over Malaysia.

This below video explains in more detail and is 100% spot on especially with us being in Penang as we speak.

Note: we have no affiliation with my second home as it’s government-controlled and Nomad Capitalist, which we feel, he gives some great advice on all four Countries and with honesty!

1.  So Why Not?

Not every country welcomes foreign retirees. Malaysia is one of only a handful of countries that have special schemes aimed at attracting long term foreign retirees. Under Malaysia, My Second Home Programme (MM2H for short) foreigners can obtain a 10 year, renewable, multiple-entry social visit pass (i.e. residence visa).

Applicants have to prove that they can support themselves financially (without working) by meeting certain minimum liquid assets and monthly income criteria and by maintaining a fixed deposit with a bank in Malaysia throughout their stay in Malaysia.

Apparently there is quite a bit of paperwork involved in applying for MM2H but it is relatively straightforward. You can appoint an agent to assist in the application (for a fee) but this is no longer compulsory.

Once you have the 10-year stamp in your passport, you are blissfully free of bureaucracy and can leave and re-enter Malaysia freely, using priority MM2H counters at the airport (when they are manned!) and there is no need to return to the Immigration Department again for 10 years.

Unlike the Thai and Philippines retirement visa schemes, where retirees have to report to immigration annually or every 90 days. So retiring in Penang, Malaysia, looks like it may have the entry key for now!

But … MM2H Has Its Limitations

New Tip dated 8/2/21: I’ve heard on numerous occasions recently, that if you’re applying for an MMH2 visa, Sarawak is cheaper for the visa. Why I don’t know but some states do act like different countries and have different by-laws. Strange eh:) But that’s how it is! Contact Us, if you wish to have a less stress-free move. We may even save you a few pennies and welcome to Penang, It’s a special place.

Malaysia has tightened up the MM2H financial requirements, so it is not so affordable for everybody.

The Malaysian Government sensibly does not want foreigners taking jobs from Malaysians so MM2H participants are generally not permitted to work. Part-time work is permitted in certain circumstances but the bureaucracy involved increases exponentially. You can find details on the official MM2H website. MM2H visa holders aged 50 years old and above can only work for up to 20 hours a week.

It is no longer permitted to start a business under the MM2H visa.

2. Taxation:

All funds remitted into Malaysia are tax-free, including pensions and investment income from overseas. Provided you do not generate any income in Malaysia (e.g. from part-time employment, capital gains on Malaysian property, or local stock market investments) and you have escaped the tax net of your home country, you can legally enjoy a tax-free existence. This factor alone can make Malaysia an attractive option, depending on your circumstances.

But … New Taxes Have Been Introduced

When people moved here, They enjoyed a no consumption tax but the Government introduced a 6% GST (similar to VAT) from 1st April 2015. Still, it is only 6%, which is far lower than the VAT rate of 20% or so in many EU countries, and also many basic foods, education, and healthcare items are exempted.

3. Motoring:

Foreign retirees enjoy the same low, government-subsidized petrol prices as Malaysians. RON95 petrol will be priced at RM 1. 44 per liter to RM 1. 82 per liter.

Currently, car insurance premiums are largely controlled by a certain high profile Bank and give little consideration to risk factors. So if your siblings want to drive and have the right qualification, you can add them to your policy as named drivers for a minuscule sum. Compare this to the UK where insurance premiums for young drivers can exceed the value of the car, it is a great deal for a family!

No …Motoring Costs Are High

New cars are quite expensive here. The Toyota Camry is currently available in its eighth-generation in the Malaysian market and is placed at RM 196,888 ( equivalent to the 38K UK). Imported cars are subject to higher taxes in order to protect the domestic car manufacturers, In Malaysia, no import duty is imposed for cars originating from ASEAN countries, while 20% – 30% import duty is imposed on vehicles imported from non-ASEAN countries. Car prices are further escalated by the tax rate and excise duty imposed. Remember though, once you drive any new car out of a showroom, it will devalue considerably.

4. Low Cost of Living:

According to Numbeo, the cost of living comparison websites, consumer prices in Malaysia are 40.53% lower than in the UK; and consumer prices including rent in Malaysia are 47.30% lower than in the UK.

However Local purchasing power in Malaysia is 32.48% lower than in the UK. Residents of Malaysia (irrespective of income or nationality) have been enjoying subsidies on rice, sugar, cooking oil, flour, diesel, and cooking gas, though these subsidies are likely to be phased out.

Most other goods and services are cheap by European standards so your pension will definitely stretch further than back home. I rent a 3-bed apartment in Batu Ferringhi is a beach resort, Northwest of George Town, and pay 1,500 Ringgit P.M, ex utilities which are barely anything, the most I’ve paid for electricity is 73 Ringgit inc aircon.

Alcohol is only the thing I’ve found at times higher than the UK, yet shop around, and some bars within happy hours are 50% off.

But … Getting More Expensive

5. Malaysia’s Climate is Great:

When you retire to Malaysia you never have to shovel snow or scrape ice off your car and there are no home heating bills to pay. Nearly every day is sunny for at least part of the day.

Temperatures range between the mid-20s to low 30s Celsius and if you want to experience cooler climes there are always the hill resorts like Cameron Highlands. Malaysia’s thunderstorms are spectacular, I must say as of 2020 during the day, Nov-June, I’ve seen little rain.

No … It’s monotonous, some Malays say. There are no proper seasons. It rains on more days than not ( I think it actually rains more on a night ). It is constantly humid and sweaty. Malaysia’s lightning storms are sometimes scary, causing 125 fatalities per year. Expensive air-conditioning bills. Well try living in the UK, where you go out in the morning in a T-Shirt and by the afternoon, you’re purchasing an umbrella, not only that, all 4 seasons in one day!

6. Health:

I find my health to be less of a problem in warmer climates and rarely catch a cold or flu. Healthcare in Malaysia is mainly under the Ministry of Health. 

Malaysia generally has an efficient and widespread system of health care, operating a two-tier health care system consisting of both a government base universal healthcare system and a co-existing private healthcare system.

The prevalence of medical schools and high-end hospitals providing excellent service attest to the fact that Malaysia is providing quality healthcare, not only to its citizens but also to expatriates and tourists. Malaysia is also a popular destination for medical tourism. Visits to a doctor at a private clinic averages US5$, with consultations with a healthcare specialist averaging US$30

I’m very fortunate at the moment, so costs are relatively minor for anything I need, however, I do use a trusted Insurance company for such emergencies as being sent to another country for treatment, etc.. World Nomads also been partnering with our site and many thousands of travelers for years and someone we trust.

Teeth: I decided to have my 4 upper front teeth replaced with crowns, 3 visits and 1,400 UK pounds lighter , I could smile with confidence again. You could pay three times that price for a private dental in the UK or possibly double on the NHS.

1.Inspection/clean up – shaved teeth that are being replaced to practical stumps – match the color of the other teeth – crowns fitted, job done! Two types of crown available – metal and enamel. Should last 10-15 years with care.

7. Penang has some of the most delicious food

Char Koay Teow: Pretty much all food stalls in Penang have it. It is a Chinese dish of fried rice noodles, spice, and seafood, mostly prawns and sometimes with fried eggs. Almost similar to some Pad Thai but every merchant has its own way to cook it.

I found the BoraBora beach bar in Batu Ferringhi served the best at 9 Ringgit, however, many Georgetown eateries cooked it deliciously too. This is one of my favorite dishes.

Penang Laksa: Penang has its own version of the famous Laksa soup made out of round rice noodles in a spicy and sour, usually tamarind-based, fish broth. I’ve tried a few times but doesn’t blow me away. However, for the price ranging from 4 Ringgit under a dollar, It was filling and very much edible.

English Breakfast: If you’re missing your favorite English / Continental breakfast, I would recommend Urban DayBreak in Georgetown. I would try and book first as it’s very popular and it’s a breakfast to die for. Around 20 Ringgit – 4 English pounds. Served in a wooden plate.

8) Penang has a collection of surreal street art

In 2012, Penang’s municipal council hired London-trained Lithuanian artist, Ernest Zacharevic to work on some Penang wall art and revive the rich history of its streets.

He was commissioned to do six Penang wall murals inspired by the everyday lives of the locals, capturing the lively spirit of the city through quirky, interactive, and relatable scenes. Nearly every street you turn into in Georgetown is something spectacular. Hence it is a UNESCO heritage site.

9. Top up that suntan and have a dip in the sea

Penang is spoilt for choice as per our blog shows on Penang’s beaches, They start from Georgetown all around the island, the main ones though are on the coastal road and you can get a 101/102 bus for them at around from 1.50 – 2.50 ringgit. Yes 60 cents, the buses are clean and every ten minutes.

10. Why not grab a sundowner or a sunset

Now you won’t be disappointed with the number of sundowners and sunsets you will envisage around the island of Penang in various spots, possibly our favorite ones are on the beach at BoraBora, having a beer, watching the horses and the world go by. Priceless!!

Check out our YouTube channel for videos of all beaches with in depth information and directions.

Main Financial Criteria: From a licensed broker as per dated 10th June 2020. Note: Tourandtakein has no affiliation with this company.

My ex-pat is an Official Malaysian Government licensed MM2H agency (KPL/LN: MM2H 0282) based in Kuala Lumpur, Malaysia since 2008. We only specialize in the MM2H Visa program for foreigners who would like to have a residency permit for Malaysia. The application process, once submitted, takes 6+ months but is subject to change. The application process can be done without your presence in Malaysia. We have only one scheme & our fees are fixed, fair & reasonable.

We are one of the TOP MM2H AGENTS in Malaysia for the last 10 years. Our Approval Rating is 99.9% so far as we make sure our clients fulfill the criteria in the first instance. We will assist & work with you to meet the requirements without taking any money in advance.

Main Financial Criteria For A MMH2 Visa

For the main applicant below 50 years of age

BEFORE APPROVAL (requirements before approval are only for application purposes & NOT required for the future) :

• show a minimum RM500,000 (USD120,000) equivalent of combined liquid funds (bank, stocks/shares, life insurance funds, social security funds, etc).
• show a minimum RM10,000 (USD2,400) equivalent of combined average monthly income in the latest 3 months (salary, pension, dividends, rental, interest, etc).

AFTER APPROVAL: place RM300,000 (USD70,000) fixed deposit in Malaysia, can withdraw RM150,000 after 1 year.

For the main applicant above 50 years of age

BEFORE APPROVAL (requirements before approval are only for application purposes & NOT required for the future) :

• show a minimum RM350,000 (USD85,000) equivalent of combined liquid funds (bank, stocks/shares, life insurance funds, social security funds etc).
• show a minimum RM10,000 (USD2,400) equivalent of combined average monthly income in the latest 3 months (salary, pension, dividends, rental, interest etc).

AFTER APPROVAL: place RM150,000 (USD35,000) fixed deposit in Malaysia, can withdraw RM50,000 after 1 year.

SCHEME – Full MM2H Application Fee

• SINGLE @ RM8,000
• COUPLE @ RM8,500
• FAMILY @ RM9,000*

* Limited to two (2) children with no extra fees otherwise RM250 extra per person

Please ask us for a “MM2H Information Pack” 

Please click “start” below to start the application. please email the following documents:

1. SEND PASSPORT MAIN BIO PAGE OF EACH PERSON.
2. LATEST 3 MONTHS BANK STATEMENTS OR OTHER FINANCIAL STATEMENTS SHOWING YOUR LIQUID FUNDS.
3. LATEST 3 MONTHS SALARY SLIPS OR ANY OTHER INCOME DOCUMENTS.
4. LATEST 3 MONTHS BANK STATEMENTS TO SHOW INCOME BEING DEPOSITED.

You can send above via email for now, for them to review & verify.
If you have any further queries then send us an email and we will then assist you further. Clients’ testimonials and reviews are available.

MyExpat (MM2H) Sdn Bhd | Suite 8-01, 8th Floor, Plaza 138, Near Petronas Towers (Hotel Maya), 138 Jalan Ampang | 50450 Kuala Lumpur Malaysia

Check out our Malaysian destination page for what Malaysia has to offer.

Finally, you can get to see this every evening at Batu Ferringhi beach while having a cold Tiger beer:)

Tips To Find Your Perfect Adventure and logical ideas to help your safety, save you money and have a stress free vacation

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Transport:

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Jet Ski’s: Available at most of the main beaches from Batu Ferringhi onwards. Just remember and as of yet, 08/2020 – no known Jetski scams, Hopefully won’t ever happen, but be carefull, take a video or pictures beoire going out by yourelf on one!

We decided to take a jet ski to get some coastal shots from the sea.More can be seen on our social media pages.

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Using the VPN doesn’t show your IP address of which country you’re residing / booking from, so no price adjustments as per nationalitiy via search engines bots.

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Accommodation

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