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Ranjan and Samira Nayaran's Retirement Plan: How Singaporeans Can Make the Most of the MM2H Visa Ranjan, a financial analyst and his wife Samira, a nurse, are in their mid-40s and live in Yishun. With their EC fully paid off and a decent number of lots of Singapore bank shares in their investment portfolio, they're exploring the possibility of relocating to JB with the MM2H visa. The aim of the game is to retire early and retire in style. Having followed quite a few other Singaporeans' journeys rebasing in JB on several online expat forums, Ranjan and Samira are convinced that MM2H is the way forward for them as well. But why MM2H? Well, with MM2H, the couple gets to maximize their retirement funds in a number of ways, enabling them to enjoy quite a luxurious lifestyle in JB, all while still remaining tethered to Singapore. Basically, by rebasing to JB, Ranjan and Samira can revel in all the upside of this unique Singapore/Malaysia arbitrage opportunity, without facing any meaningful downside. It's a one-in-a-million opportunity that the couple really feels they should grab with both hands. You only live once, after all. Lower Property Purchase Minimum and Renting-Before-Buying Approach Possible JB offers significantly lower property prices, making resort-living much more attainable than in Singapore. Nevertheless, Ranjan and Samira still plan to start by renting a condo, most likely in one of JB's leafy suburbs. By utilizing the one-year grace period provided by MM2H, they can take their time exploring JB's different residential estates before deciding where they settle for the longer run. So yes, the rent-before-buy option offered by MM2H is ideal, as it gives them the flexibility they need to make a well-informed decision. Lifestyle Upgrade Thanks to the mighty Singapore Dollar, Ranjan and Samira will enjoy a high standard of living in JB. What would be considered luxuries to most in Singapore, such as staying in a spacious condo or landed home, a domestic helper, dining at upscale restaurants and owning an SUV, are all easily within reach of the couple once they're in JB. To be sure, they might be able to replicate the same lifestyle in Singapore too, but they'd be burning through their various funds at a much, much higher rate. According to the couple's estimates, however, in JB, they'll be living a typical expat lifestyle, whilst never really eating into their net worth. Frankly, from the couple's perspective, life doesn't really get much better than this, especially when you factor in how close they still remain to Singapore. As a matter of fact, the distance from their new home in JB to their EC in Yishun is only half of the distance from Yishun to Jurong West! Better yet, once the upcoming RTS is operational in JB, taking public transport back to Yishun may actually be quicker than taking the MRT from Jurong West to Yishun! The world is shrinking... Bank Transfers Exempt From Tax Transferring funds from Singapore to Malaysia is a tax-free process for everyone residing in Malaysia with the MM2H visa. This is a major incentive for Ranjan and Samira—rightly so. Because take their rental income, for example, or the dividends earned from their equity. All of this cash can be transferred, bank to bank, without worrying about getting taxed. With this tax-free status, their money goes further once it arrives in Malaysia, that much is clear. Gorgeous Nature Beyond money matters, one of the other appealing aspects of residing in JB is the access to stunning natural surroundings. From nearby beaches to lush rainforests, in Desaru and Endau, to name just two. Ranjan and Samira are avid outdoor enthusiasts and they look forward to spending weekends exploring Malaysia's breathtaking landscapes. Expatriate Community and English Just About Everywhere There is a well-established expatriate community in JB, particularly amongst Singaporeans. This is reassuring for Ranjan and Samira, knowing there's always people around with similar backgrounds and experiences. Moreover, English is widely spoken, making the transition to life in JB smooth. With this in mind, the couple is quite comfortable about navigating their day-to-day lives in their home away from home. RTS Railway = Fast Travel Time between JB and Singapore As mentioned above, the RTS line connecting JB to Singapore will be online in the not-too-distant future. As it happens, this development was a significant factor in the couple's decision to go ahead and rebase in JB. The convenience of being able to return to Singapore quickly and easily is priceless. With RTS plugging into Singapore's MRT seamlessly, the couple gets to drop by family or friends pretty much at the drop of a hat. Basically, with RTS Singapore will always be at arm's length. This offers the couple tremendous flexibility and peace of mind. Expanding Connectivity and Affordable Housing Market Indeed, JB's improving infrastructure, along with the lower cost of living, continue to make Malaysia an ever-more attractive destination for foreigners keen to upgrade their lifestyle. Small wonder that more and more forward-thinking Singaporeans, too, have been pivoting to JB, particularly given the continued currency benefits the SGD provides versus the Ringgit. In JB, the finer things in life are within reach for all Singaporeans who enjoy decent cash flow. Quality Healthcare That's Affordable But there's more to life than monetary benefits. Such as healthcare. And healthcare tends to be a concern for any couple planning their retirement. The good news is that Malaysia is renowned for offering top-notch healthcare at considerably lower price points than most other countries in the region. By being able to access affordable healthcare in Malaysia, Ranjan and Samira can receive excellent care whenever required, without straining their budget. This is true, in spite of the fact that some of the medical centres in JB are owned and run by Singapore medical groups, with Gleneagles Medini and Regency Specialist Hospital, both approved for CPF/Medisave use. That being said, should they prefer, the couple still has Singapore's own healthcare options available to them as well, of course. Returning to Singapore Ranjan and Samira know that relocating to JB doesn't mean cutting ties with Singapore, not by any stretch. For one thing, the MM2H visa allows them to return to Singapore as often as they like and subsequently come back to JB just as often. With MM2H, commuting back and forth is essentially free-flow. Of course, that's a luxury only MM2H can provide; non-MM2H holders need to resort to the regular 30-day social pass if they want to reside in JB for any length of time. The risk with this short-term permit is that misuse may elicit red flags at CIQ. Be that as it may, for all Singaporeans wanting a taste of expat-living in JB, short-term or long-term, Singapore will always be there. And all those who own a Singapore property will always have a home to go back to. That's the added bonus for Singaporeans rebasing in JB, i.e. they get to live life to the fullest across the Causeway, but they can always go back to Singapore if and when they want to. The best of both worlds. Want to learn more about living the good life in JB? Click MM2H.som.sg for the latest information. |