Insights on investing and retiring in MalaysiaOverseas Property | 11 Oct 2019
With Malaysia fast becoming a favourite destination for investment diversification and retirement, a recent Expo provided attendees with details on the MM2H (Malaysia My Second Home) programme, looking at life in this popular nation from various perspectives.
Organized by the MM2H Club, the Expo was held over the recent Chung Yeung Festival long weekend at the JW Marriott Hotel. Seminar speakers included representatives from the Consulate General of Malaysia, and from the education and medical care sectors in Malaysia, as well as Hongkongers who have moved to Malaysia under the MM2H programme.
“The Expo was an outstanding success, attracting an overwhelming response,” says Vincent Fong, founder of the MM2H Club. “Thousands of people signed up for the event, and our seminars were filled to the brim. There was very keen interest in the terms and application procedures for the programme.”
First launched in 1996, the original idea was an investment programme devised by the Malaysian government to attract people from all over the world to settle in Malaysia for their retirement, says Fong. It was re-named ‘Malaysia My Second Home’ in 2002, and began accepting applicants aged 55 or below.
The Expo invited a Hongkonger who has moved to Malaysia under the MM2H programme to share her personal experience of living in Penang, Malaysia. The audience were particularly impressed by the low cost of living and the relaxed lifestyle.
“I’m living in a flat that measures over 1,000 sq.ft in Penang which provides plenty of opportunities for an enjoyable outdoor life with its open space and green environment,” explains the MM2H participant. “The flat costs me about HK$1 million for which there is absolutely no way for me to get a flat of equivalent size in Hong Kong.”
For families attending the Expo, the organizer invited Fairview International School – which has campuses at five major Malaysian cities, including Kuala Lumpur, Penang and Johor Bahru – to host mock classes for children to experience first-hand how IB classes are conducted. It is obvious from their laughter and happy faces how much they enjoyed this innovative method of learning.
An important consideration for retirees is the quality of medical care. In this respect, Malaysia scores 95 points out of 100 in recognition of its low cost and high standards, taking the top honour in the Healthcare category of the Annual Global Retirement Index of Living International.
Representatives from two international standard hospitals in Malaysia, namely, Penang Adventist Hospital, and Park City Medical Centre from Kuala Lumpur, were present at the Expo to introduce their services. They are both certified by Joint Commission International, a worldwide authority for professional medical services.
Attendees also gained practical knowledge on investing in Malaysia as Ms. Ezzwanee Ahmad, Trade Commissioner of the Consulate General of Malaysia – Trade Section (MATRADE), Hong Kong/Macau, briefed them on the ways and means of going about it, and explained future prospects of this vibrant nation.
The MM2H Club is the leading organization providing professional services to help participants in their application for the MM2H programme. The Club is headquartered in Malaysia with branches in Hong Kong, Taiwan and Indonesia, and provides the most comprehensive information to the public.