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MM2H Singapore
It's never too late to start a new life in a new land
Introducing Sarah, a forward-thinking 30-something Singaporean, residing in Changi. Sarah runs a successful virtual store, selling exclusive cosmetics and also manages her social media channels to promote her business. However, with the relentlessly rising cost of living in Singapore, Sarah has been considering a move to JB, by means of the regular 30-day social pass "chop" at first, but ultimately, by deploying the Malaysia My Second Home visa. Through her relocation to JB, Sarah aims to reduce her living expenses by up to 60%, yet still enjoy an expat-like lifestyle there, including a lot less daily stress.
Money Matters
It will come as no surprise that Sarah's main motivation for moving to JB is the significant financial benefits that you get to enjoy across the Causeway. Take her income, for instance. The rental cash flow from the rooms in her dual-key home in Changi alone provides a solid financial baseline right off the bat. How? Well, the much lower cost of living in Malaysia, coupled with the rather lucrative SGD to MYR exchange rate, allow Sarah to enjoy a higher standard of living there.
Add her business earnings into the mix and it quickly becomes clear that Sarah won't be under any financial strain whatsoever. In fact, rebasing to JB will enable her to contribute more money towards growing her online shop, as well as to her savings; more so than if she'd stayed in Singapore. Such is the potential of this Singapore-Malaysia lifestyle arbitrage opportunity, a perfect set of circumstances that more Singaporeans would do well to benefit from.
Generational Opportunity
Living in JB offers Sarah a more serene and less stressed lifestyle than typical for her in Singapore. Furthermore, in JB, the environment is less congested and more spacious, certainly compared to ever-frenetic Singapore and the rat race we're all subject to there. The fact of the matter is that thanks to decades' worth of economic progress in Malaysia, our northerly neighbour now offers a very good range of amenities and recreational activities, the kind that go a long way towards a balanced and happy lifestyle. Yet, Malaysia's cost of living remains low. It's the chance of a lifetime for anyone who recognizes this golden opportunity, but for Singaporeans in particular.
So with the rental income from her Changi home, Sarah can afford a larger place in JB and, without doubt, enjoy a luxurious lifestyle, including more quality time for herself, her family and her friends. Johor's countless exciting markets, fancy shopping malls, plentiful makan options and year-round cultural events will all see to that.
Health and Singapore Still Close
Healthcare is an important consideration for Sarah, as it is for most people. It so happens that this is where JB excels. How so? Well, JB boasts several top-tier private hospitals and clinics. In fact, some of these are operated by Singapore medical groups, such as Gleneagles Medini and Regency Specialist Hospital, each open to CPF/Medisave. In other words, on this front, Sarah will be more than provided for.
But arguably the best news about Singaporeans rebasing to JB is the fact that Singapore remains just about as accessible as ever. This is especially the case once approved for the MM2H visa, because this long-term visa doesn't just allow for a 10-year stay in Malaysia, or longer, but it also permits holders unlimited travel across the border, as often as they like.
Basically, with Singapore just a hop away, especially given the imminent RTS service launching, Sarah can retain her ties with family, friends and work connections. After all, with the RTS running, it's easy to pop over to and fro. Having both Singapore and JB at her fingertips also ensures that she can continue to manage her business operations seamlessly, regardless of which end of the Straits she finds herself.
Easy Choice
With all this promise, moving to JB, for instance by using the MM2H visa, are easy choices to make for someone as forward-thinking as Sarah. The upside is significant, whilst the downside is really rather limited, especially if you rent a JB house initially. By renting and using the regular 30-day social pass, you can get a good feel for life in JB before committing to a long-term stay full-on.
That said, since the 30-day social pass chop in unlikely to cover repeated extended periods in Malaysia, it's probably best to opt for the MM2H visa eventually. Besides, MM2H offers numerous other benefits, including tax exemptions on remitted funds from Singapore and elsewhere. MM2H-holders are also entitled to buy a JB home at a price below the minimum threshold as mandated by the state of Johor. Frankly, MM2H is more suitable for a long-term stay in Malaysia. Not to mention the fact that getting approval for MM2H us quite feasible nowadays anyway. Let's face it, no stress at CIQ and a smooth, uninterrupted stay in your adopted country is what it's all about.
From JB, With Love
Sarah's move to JB and her choice to go for the MM2H visa are both smart decisions. Swopping Singapore for JB will undoubtedly improve her quality of life, as well as, in time, her financial situation. By using the rental income from her Changi home, along with her business earnings, she can enjoy a more atas lifestyle in JB, along with access to top-notch healthcare facilities. All that and yet still remain as good as tethered to Singapore, her family, her friends and her work connections.
Better still, being one of the early batch to make this rebasing move to JB practically ensures that her JB home will enjoy considerable appreciation going forward. Small wonder then, that more and more Singaporeans agree that relocating to JB has upside galore.
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