Ah Lee and Mei Ling: The Case For a Luxurious Retirement in JB
Wondering if JB can provide a better retirement lifestyle for you? Ah Lee and Mei Ling are planning to relocate to JB, with income from their Singapore property to finance a more comfortable way of life there. See if their path to retirement in JB resonates with your goals.
Introducing Ah Lee and Mei Ling
Ah Lee and Mei Ling, both in their late 50s, have been planning for their retirement in recent years. Ah Lee works as an event executive, while Mei Ling is a banker. The couple owns a fully-paid apartment in Singapore's Central region, along with an additional investment property that they currently rent out. Their CPF savings, combined with the rental income from their investment property, should provide a strong financial base. However, the rising cost of living has led them to explore options for a more comfortable and more affordable lifestyle elsewhere. They were reading up about Golden Visas when they realized that Malaysia has just announced a set of new conditions for their Golden Visa, the so-called
MM2H visa. It turns out this visa offers them the opportunity to relocate to JB and, by the looks of things, upgrade their standard of living a notch or two.
Property Purchase Made Easy with MM2H
One of the ways MM2H enables Ah Lee and Mei Ling to boost their lifestyle in JB is by means of the visa's lower property purchase requirements. Akin to Singapore's ABSD, foreigners buying property in Malaysia need to comply with the various states' minimum purchase thresholds. This also applies to the state of Johor. But once approved for MM2H, non-Malaysians can qualify for properties that fall below this threshold. The difference, which can reach RM100,000 or more, along with the much lower cost of housing in Malaysia, enables Ah Lee and Mei Ling to invest in quite a nice and spacious JB home. They may even buy that landed in the leafy suburb they've been dreaming about for years.
Transfer of Funds from Singapore Non-Taxable
But once they've been approved for MM2H, the couple also benefits from the tax exemptions the visa bestows holders' funds when transferred to Malaysia. Basically, any money wired from the couple's Singapore bank to their JB bank is tax-free. This includes their rental income, their savings and all their other Singapore-based funds they want to spend in Malaysia. None of it will be incurring taxes upon arrival. No tax, no worries.
Living Luxuriously with Their Singapore Rental Income
One of the key factors motivating Ah Lee and Mei Ling's move is the ability to live a more luxurious lifestyle in JB. As per their estimates, the rental income from their Singapore properties alone should allow them to enjoy quite a fancy lifestyle there. For one thing, the lucrative SGD/Ringgit exchange rate, tripling their spending power in one shot, means that, yes, they really can afford premium housing JB. In fact, given all the other financial tailwinds associated with the move to JB, it's safe to assume that their retirement will be altogether nice and cushy.
JB's Scenic Surroundings and Relaxed Atmosphere
But there's plenty of rationale unrelated to money-matters to support a JB retirement. To wit, after years of hard work, Ah Lee and Mei Ling are ready to enjoy the somewhat more languid pace of life that JB offers. The area's natural surroundings, i.e. its extensive green zones and sun-kissed leisure islands along the Johor coast, as well as Malaysia's cooler highlands, all provide a tranquil retreat from Singapore's more stressful environment. The couple is actually looking forward to spending their retirement in a more serene setting, surrounded by wide open space and plenty of nature. And blissful quiet. After a lifetime of close to nonstop din, they can't wait to be bathed in blissful quiet.
Lively Singapore Enclave in JB
Another reason Ah Lee and Mei Ling feel confident about their move to JB is the presence of a large Singaporean community there. JB is home to many other forward-thinking Singaporeans, the ones who have already made the move. As such, the couple is reassured by the familiarity and support they'll likely find among their fellow expatriates. Needless to say, JB's proximity to Singapore also ensures that they can easily stay connected with their cultural roots.
Convenient Commuting Between JB and Singapore
Ah Lee and Mei Ling value the fact that they'll still be able to travel back to Singapore easily. Better yet, the upcoming RTS link will make commuting between JB and Singapore even more convenient. After all, once in operation, it will allow them to visit their kids, relatives and friends pretty much at the drop of a hat, especially once passport-free travel between Johor and Singapore is in effect. The seamless connection ensures that Singapore is within arm's reach at all times. Not to mention the time saved when passport-free border crossings is also enacted.
JB's Continued Growth and Economic Potential
As JB continues to expand its infrastructure, with developments such as the Special Economic Zone (SEZ) and Special Financial Zone (SFZ), Ah Lee and Mei Ling see potential for the area. Indeed, the couple is excited to be part of this thriving "Malaysian Shenzhen", particularly since they'll have some skin in the game.
Accessible, High-Quality Healthcare
Access to affordable, high-quality healthcare is a major consideration for retirees and JB offers top-tier medical services at a fraction of the cost in Singapore. Several hospitals and clinics in JB are owned by Singaporean companies, ensuring that the healthcare provided is up to the standards Ah Lee and Mei Ling expect. This allows them to enjoy peace of mind as they transition into retirement.
Flexibility with Renting Before Buying
Incidentally, before making a long-term commitment to purchasing a property in JB, Ah Lee and Mei Ling plan to rent for up to a year. This prudent move allows them to get a feel for the area whilst exploring the different residential projects in JB's neighbourhoods. In so doing, they ensure that they make the right decision. This timeline flexibility is another one of MM2H's perks.
Safety Net in Singapore
Whilst Ah Lee and Mei Ling are excited about their new life in JB, they also appreciate having a place to go back to in Singapore. Sure, renting out their investment property provides them with a steady income, but it also serves as their insurance policy.
Life is for Living
Ah Lee and Mei Ling's move to JB under the MM2H visa offers them the chance to live a more "atas" retirement, with all the comforts and conveniences they could wish for. But arguably the best part of their JB mission is that it allows them to enjoy all of JB's goodness without having to cut their ties Singapore in any way. The couple effectively enjoys all the resort-living they want, without any real downside. Now, that's peace of mind.
Are you interested in finding out more about residing in JB with the MM2H visa? Click
MM2H.com.sg for more details.