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Retire in Malaysia with Malaysia My 2nd Home


Malaysia has a project called "Malaysia, my 2nd home" for people who want to retire in Malaysia. Malaysia, undoubtedly has a lot to offer for foreigners who want to spend their life in a relaxed environment.

Pangkor, Nipah BeachLiving in Malaysia means living in a tropical country and still have all the facilities of the western world too. The project is open to all citizens of countries recognized by Malaysia regardless of race, religion, gender or age. Applicants are allowed to bring along their spouse and children as dependents (below 18 years old who is not married).

Why would you apply for the program? Easy, Malaysia is a beautiful country, it has a great climate, though the Malaysians probably would probably disagree, they prefer cold weather! Food is good, see my food pages for details. Facilities are excellent, road are great, transport is cheap.

But within the program you are allowed everything the Malaysian can do themselves, opening bank accounts, buy a house, get a mortgage etc.

So how does it work? Basically there are two different groups, above and below 50 years old.

Aged Below 50 years old

If you are aged below 50, you have to open a fixed deposit account of RM300,000. After one year you can withdraw up to RM240,000 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.

You must maintain a minimum balance of RM60,000 from second year onwards and throughout stay in Malaysia under this program.

Aged 50 years and above

There are two choices:

  1. Open a fixed deposit account of RM150,000
  2. Show proof of monthly off-shore income of RM10,000, for example a pension scheme

After a period of one year, you can withdraw up to RM90,000 for approved expenses relating to house purchase, education for children in Malaysia and medical purposes.

You must maintain a minimum balance of RM60,000 from second year onwards and throughout stay in Malaysia under this program.

 

Gurney Drive, Penang

If you decide to go for the program, you need to bring a medical report from a clinic/hospital in Malaysia. You need to have a valid medical insurance which is valid in Malaysia.

There are a few restrictions, you are not allowed to work while you stay here. And, obviously, you should not be involved in activities that are sensitive, illegal or a threat to Malaysia's people and the country.

Malaysia My 2nd Home is a retire in Malaysia program. But what can and will you do once you're in the program? Retire in style, Malaysia is still cheap compared to the western world.

You may want to buy a house. Lumut and Seri Manjung have great options for expats and you will join a small community of expats already living in Lumut and Seri Manjung. Pangkor island is nearby. Kuala Lumpur, Penang, Ipoh and Cameron Highlands are within a reach of 3 hours drive. Singapore is not far too.

In other words, all you want from your retirement is available so come and enjoy Malaysia, it's a great country, lovely people, excellent food and great weather. Retire in Malaysia, and more specific, in Seri Manjung or Lumut is something look forward for.

No one would come to Malaysia without first seeing the country, get a feel for it. Malaysia is in that sense quite easy but to be sure, I have a page here with all the Malaysian visa regulations available.

For those people who own property worth more then RM 1 million (need to be proven), the deposit is RM 60.000.

You can apply for Malaysia My 2nd Home program here.

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