Malaysia truly a second home

Monday, 25 January 2016

Quay to happiness: Yamazaki taking a stroll along Straits Quay Marina in Penang.

Quay to happiness: Yamazaki taking a stroll along Straits Quay Marina in Penang.

 

PETALING JAYA: Malaysia’s ranking as being among the top retirement destinations came as no surprise for expatriates who have settled here.

For Karen Palko, who arrived with the Peace Corps in 1979, Malaysia is perfect because it offered Westerners a foot in both worlds.

She said Malaysia was no third-world country and there was efficiency, culture and natural beauty.

“I would say the weather is number one. You have to have lived in the cold to appreciate the heat,” said the 57-year-old California native.

She said those seeking to settle here would also find Malaysia affordable.

Malaysia had been ranked fifth in the 2016 Global Retirement Index, issued byInternational Living publication, which rated 23 countries. The top four are Panama, Ecuador, Mexico and Costa Rica.

International Living, which claimed it has been helping people to retire overseas for the past 30 years, said the criteria was based on factors such as buying and renting of real estate, ease of visas, cost of living, entertainment and amenities, infrastructure and climate.

Among others, it noted that Malaysia scored strongly due to the great-value rentals and the Malaysia My Second Home (MM2H) visa, which lasts for 10 years.

It also said that Malaysia had excellent hospitals, highly-trained doctors and affordable healthcare.

American Malaysian Chamber of Commerce past president Datuk Nicholas Zefferys, 75, said Westerners, particularly Americans, knew little about Malaysia.

“They are pleasantly surprised at the living standards and good government,” said Zefferys, who arrived 25 years ago.

Zefferys, who is from Seattle, said he had learnt more about the world through living in Malaysia because many cultures were represented here.

“This makes Malaysia an exciting place to be,” he said.

He also said that food here was superior to anywhere else in the world.

Monem Salam, who is originally from Texas, said: “The biggest appeal is the attitude of the people who have made us feel very welcomed.”

Monem, 43, who is the president of investment firm Saturna Sdn Bhd, moved here five years ago.

The father of three children aged between 10 and 16 said the MM2H programme was gaining popularity.

“Many in the US are interested and have asked me about it,” he said. Japanese mother of three Emi Yamazaki, 48, has been calling Penang “home” for 14 years.

“I lived in various cities in the past including London, Hong Kong and Singapore,” she said, professing her fondness for Penang.

“It is nice and compact,” said Yamazaki, who had worked in the media industry.

 

Read original post: http://www.thestar.com.my/news/nation/2016/01/25/malaysia-truly-a-second-home/

MINISTRY OF FINANCE (MOF) : NO GOODS & SERVICES TAX (GST) EXEMPTION FOR VEHICLE PURCHASE

MINISTRY OF FINANCE (MOF) : NO GOODS & SERVICES TAX (GST) EXEMPTION FOR VEHICLE PURCHASE

Finance Minister decides that there will be no exemption of GST for the purchase of vehicles by the Malaysia My Second Home (MM2H) participants effective 1 April 2015. However, application for duty / tax exemption submitted to MOF before 1 April 2015 will be considered for GST exemption for a period of three (3) months from the approval date. MOF will not entertain any request to extend the period of application or GST exemption to purchase vehicles under MM2H programme. Thank You.

Malaysia My Second Home (MM2H) Centre MALAYSIA
Date: Apr 09, 2015

Please see attachment.

IMPOSITION OF THE GOODS AND SERVICES TAX (GST) EFFECTIVE 1 APRIL, 2015

IMPOSITION OF THE GOODS AND SERVICES TAX (GST) EFFECTIVE 1 APRIL, 2015
MM2H Car Purchase
Currently, MM2H participant may purchase one new car made or assembled in Malaysia which is exempted from excise duty and sales tax OR import one car which belongs to him/her from country of citizenship or where he/she last domiciled, which is also exempted from import duty, excise duty and sales tax for bringing in it into Malaysia for his/her personal use.On 1st April, 2015, the Government of Malaysia will start to impose the Goods and Services Tax (GST) in Malaysia. As of now, the Ministry of Tourism and Culture Malaysia has not received an official notification from the Ministry of Finance (MOF) to give any tax exemption to MM2H participants when they:

a) Purchase a new car made or assembled in Malaysia; or
b) Import a car which belongs to the participant in his/her country of citizenship or where he/she last domiciled.

Therefore any car which is purchased in or imported into Malaysia on or after 1st April, 2015 is subject to GST unless it is given exemption by MOF.

Thank You. Malaysia My Second Home (MM2H) Centre MALAYSIA

Date: December 24, 2014

Fixed Deposits under Malaysia My Second Home (MM2H) Programme

Fixed Deposits under Malaysia My Second Home (MM2H) Programme
Placement of Fixed Deposit can be done at any bank in Malaysia. Withdrawal of Fixed Deposit must have the prior approval of the MM2H Centre under Ministry of Tourism and Culture Malaysia. Failure to comply with this condition could result in the immediate cancellation of the MM2H Social Visit Pass (Multiple Entry). Banks with dedicated MM2H Counters are as follows Bank of China and Public Bank. Thank you. Malaysia My Second Home (MM2H) Centre MALAYSIA

Applicants from Bangladesh

Applicants from Bangladesh

Starting from 1 November 2014, MM2H special committee meeting has decided that all applicants from Bangladesh must have their signature on each and every page of application documents before submitting to MM2H Centre. Thank you.

Malaysia My Second Home (MM2H) Centre MALAYSIA
Date: October 09, 2014