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A Home Away From Home
The current economic slump has taken its toll on the UK. Steep house prices and then the troubled property market have caused more people to broaden their property investment activities overseas.
Two of the most common catalysts for buying properties abroad are the desire for better weather conditions and of course, the stronger British Pound.
European countries like Portugal, Spain, France and Italy are usually the most popular destinations that UK residents will look at as they are practically neighbours. However, the dwindling might of the British Pound against the Euro dollar makes these destinations more expensive than they were.
Malaysia My Second Home
This brings us to Malaysia, a great overseas alternative which has diverse cultures, lovely tropical weather, fantastic beaches, cosmopolitan cities and more. Additionally, efforts from the Malaysian government through their Tourism Malaysia vehicle are actively promoting a Second Home Programme known as Malaysia My Second Home (MM2H) that makes it easy for foreigners to make the country their second home.
MM2H is one of the most attractive long term stay visa programmes in Asia which is why many have already made the choice to retire or spend extended periods in Malaysia.
Since 2002, there have been more than 10,000 participants in the MM2H programme. Participants come from countries such as China, United Kingdom, Japan, Australia and Pakistan. Recently, there has been a dramatic increase in particular of UK visitors in recent times which shows that the government’s push to make Malaysia a prime tourist destination for the British effective.
There are instances of British expats who have travelled around the world for more than 25 years with multinational corporations that have chosen to settle and live in Malaysia.
What makes Malaysia such an attractive place to live?
- Strong economy. It is one of the region’s richest countries.
- Quality of life. Developed infrastructure. Full of natural beauty and of course, the weather’s great.
- Low cost of living. This is especially attractive for those considering retirement as they benefit from the weaker RM to the Pound.
- Wonderful beaches and vibrant cosmopolitan cities.
- Diverse activities and award-winning golf courses.
- Great transportation infrastructure with highways and public transport.
- World class healthcare and medical facilities.
- Wide usage of English. There are even English language newspapers, radio and television.
- There are various tax incentives such as tax-free car import and no capital gains tax on property.
- The legal system is based on the British system so there is nothing too unfamiliar to contend with.
What attracts the British mostly to Malaysia is the all year round tropical weather, the low cost of living, the laid-back lifestyle, wonderful food and the friendly people.
A quote from one expat:
“Life is a pleasant dream again. It might not be Nithsdale, but Malaysia has the same qualities — stunning scenery and friendly people, but with the added bonus of year-round wonderful weather. There is a huge ex-pat community here and I feel right at home. I can’t imagine leaving this wonderful country for a long time to come.”
Find out more about MM2H
Those who are interested to find out more about Malaysia My Second Home (MM2H) programme should get in touch with approved MM2H agents by the Ministry of Tourism Malaysia.
My Next Home (MM2H) Sdn Bhd is one of them and provides MM2H services. For more information, send an email to info@mynexthome.com.my or call (603) 7842 6402 (KL), (604) 210 8122 (Penang), or call (+44) 7711 003 007 (London).
This article is contributed by My Next Home (MM2H) Sdn Bhd. |
