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MM2H for Singaporean Retirees-To-Be

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Planning a Move to JB with MM2H: A 50-Something Couple's Strategy for a Prosperous Future

As a Singapore couple in our 50s with grown-up children who've already embarked on their own independent journeys, my husband and I have started contemplating our next chapter in life. We've been fortunate enough to have decent savings and a portfolio of investments in Singapore that provide us with a stable, fixed income. But with the ever-evolving landscape of Singapore and the growing opportunities just across the Causeway, we've decided to explore moving to JB using the Malaysia My Second Home visa.

Why JB?

For us, JB represents a blend of opportunity and familiarity. We've seen how JB has evolved over the years and it's clear that it' becoming increasingly intertwined with Singapore. The completion of RTS was game-changer for us. The ease of travel will make it possible for us to live in JB while still being closely connected to Singapore. We basically get to have our cake and eat it too : )

The so-called SFZ or Special Financial Zone being developed as we speak is another compelling reason for our move. With the SFZ, we foresee JB transforming into a major economic hub, parallel to Singapore, offering countless opportunities for both residential living and entrepreneurial ventures between the two. As investors, we see the potential for considerable growth in JB, not just in terms of property value but also in business prospects.

Why MM2H?

The MM2H visa is the perfect fit for us. It provides the long-term residency we need to make JB our home while maintaining our financial ties to Singapore. The flexibility of the visa allows us to enjoy our retirement without any immigration hassle. Plus, the tax benefits, such as tax-free remittances of our income from Singapore to our bank in JB, is another significant advantage.

We've considered the option of simply staying in JB on a 30-day social visit pass, but the risks associated with frequent re-entry are too high. The Malaysian government may eventually crack down on this practice and we don't want to jeopardize our ability to live comfortably in JB. MM2H offers us peace of mind and security, knowing that we can stay in Malaysia long-term without any issues, with comings and goings as often as we please.

Timely Decision

With RTS about to be completed and JB's development picking up pace, we believe that time is of the essence. The property market in JB is still relatively affordable, especially with the favourable exchange rate between the SGD and the Ringgit. Actually, we plan to convert a portion of our savings to Ringgit and invest in a property in JB. By doing so, we're not only securing a comfortable home but also positioning ourselves to benefit from the expected rise in property values as JB continues to develop. Meanwhile, our condo in Singapore provides us with rental yield.

But we want to get the ball rolling quickly, as JB is clearly gaining momentum now.

Making the move to JB with the MM2H visa is a strategic decision for us. It allows us to enjoy a higher quality of life, benefit from the growing opportunities in JB, yet all the while stay connected to Singapore. As far as we're concerned, for couples like us, who are looking to make the most of our retirement years, JB and MM2H offer the perfect combination of lifestyle, security and potential for growth.

Click Mm2H for Singapore if you want to read more.

Joscelin Cheng,
Singapore
Joscelin Joscelin

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