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A Life of Comfort and Convenience in JB for Our Family, with MM2H
As the head of a family of four, I've always prioritized the well-being and comfort of my family. Living in Woodlands, we own a 5-room home that's fully paid off. It's not that we're not living well. It's just that with the end of the rising cost of living in Singapore not in sight, we're a bit worried about what the future holds.
And so we've decided that it's time to make a move, one that'll benefit our family both financially and in terms of lifestyle. In a nutshell, we're opting for MM2H, i.e. the Malaysia My Second Home Visa. Yes, this basically means we're relocating to JB.
The idea is as follows: We rent out our home in Singapore and use the rental income to live, according to our projections quite generously, in JB. Now, we're fortunate enough to have bought a property in JB years ago and the favourable SGD/MYR exchange rate and much lower cost of living, our income from Singapore will allow us to live a way more comfortable life across the Causeway. We're talking about a lifestyle that includes a landed home, golf club membership, but also the ability to save more money for our children's future.
Multicultural Perspective
Our children will attend international school in JB. And it so happens that the one we have in mind offers a quality education, one that's on par with the international schools in Singapore, though at considerably lower cost. Actually, the international schools in JB are well-regarded and we're confident that our kids will thrive in this environment. Plus, the school's multicultural aspects will give them a broader perspective on life, which is something we value, particularly in this day and age.
Incidentally, one of the key benefits of MM2H is the tax-free remittances that holders of this visa are entitled to. For us, that means that all funds we transfer from our Singapore bank to our Malaysia bank will not be taxed at all. Obviously, quite a windfall, as it allows us to maximize our rental income without worrying about tax issues.
Clearly, this tax exemption is a significant advantage, one of several reasons why MM2H is a better option than relying on the 30 day social pass we usually get. With MM2H, we're not bending any immigration rules, which means there's no stress each time we get to CIQ.
RTS Akan Datang
The short travel time between JB to Singapore was another major factor in our decision. I mean, with the RTS Link nearing completion, we can easily commute back to Singapore whenever we want. Whether for work, visiting relatives, or simply enjoying a bubble tea with our kaki, Singapore is just a short trip away. So effectively, this gives us the best of both worlds: a life of comfort and convenience in JB whilst also staying connected to Singapore.
To be honest, as far as we're concerned, MM2H provides our family with an opportunity to live a much more comfortable life than in Singapore, whilst still actually being close to Singapore. We believe MM2H is a smart move that offers long-term financial security and the chance to enjoy life to the fullest.
Frankly, speaking, we're aware that there may be a few bumps here and there, it's to be expected when taking such a pivotal step. But in spite of a possible little headwind, we're all still very excited about this new chapter in our lives and we're confident that we've made the right choice, not just for now, but for our future too.
Questions about MM2H Singapore? Let us know here.
Bayshore Park Eastern View
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Resort living
Bayshore Park
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