A New Beginning in JB for a Singapore Family from Yishun
The Lim family, residing in Yishun, is contemplating a move to JB using the
Malaysia My Second Home visa. With a 12-year-old child and their fully paid-for Yishun home, the Lims are looking to leverage their home's rental income to finance their new life in JB. Apart from realizing that JB and Singapore seem to be blending into one more and more recently, the escalating cost of living in Singapore has made this move an increasingly attractive option.
Monetary Perks & Expat Lifestyle
To be sure, the Lims' primary motivation is the financial benefits of living in JB. The rental income from their Yishun home, combined with their savings and STI investments, provides a solid financial foundation. The lower cost of living in Malaysia versus Singapore, coupled with the quite productive SGD to MYR exchange rate, allows the Lims to live without financial stress and, in fact, enjoy a comfortable lifestyle, probably along the lines of the countless other expat families that relocated to Malaysia.
Critical also to the Lims is the fact that this move will enable them to allocate more funds towards their child's education
and their family activities. Work/life balance is bound to be much more in favour of the family in JB, as compared to in Singapore.
MM2H Tax Breaks
One of the significant advantages of long-stay visas like MM2H that the Lims are likely going to require is the tax breaks on remitted funds from overseas. This means that they can bring their Singapore-based income into Malaysia without incurring any taxes. Obviously, this further enhances their financial position. These tax benefits are particularly appealing to the Lims, as they have a decent amount of investments and savings that they plan to bring into Malaysia over time.
The fact that MM2H also lowers the minimum threshold for the purchase of their JB property further sweetens the deal. This can be a considerable windfall, after all.
Boosting Quality of Life
The Lims are excited about the prospect of a better quality of life in JB. The city, especially the suburban fringes, offer a less pressurized
and a more spacious living environment compared to the more congested and more limited space in Singapore. With their rental income and investments, the Lims can afford a larger home, possibly even the landed they've always dreamed about owning. They'll also get to enjoy various amenities that typically contribute to the sheer pleasure of living the expat lifestyle.
Additionally, the Lims are also looking forward to exploring JB's tourism magnets, including the now-famous JB shopping centres, along with Johor's numerous other cultural attractions. In a nutshell, to the Lims, quality time together is what life's all about. Unfortunately, this is something that's been getting quite elusive for most of us in Singapore.
Schools and Medical
It goes without saying that the Lims are keen to provide their child with a quality education. Now, JB has several top-tier international schools that offer excellent educational programmes, ensuring students receive a well-rounded education. Additionally, JB's healthcare facilities are top-notch, with several JB hospitals actually run by Singapore medical groups, including Gleneagles Medini and Regency Specialist Hospital, both of which are CPF/Medisave-approved facilities. For obvious reasons, this also provides peace of mind for the LIM family. Going forward, the Lims have already identified a few schools and medical centres that meet their standards. Another step closer to their new life.
Next Door Neighbour Singapore
Living in JB allows the Lims to stay within arm's length of Singapore, making it easy to visit friends and family at the drop of a hat, especially by means of the RTS line that's up and running soon. The short commute and the added convenience ensure that Singaporeans in JB can maintain their connections to Singapore, whilst also enabling them to fully enjoy the lifestyle arbitrage benefits that JB provides. This is nothing short of a unique once-a-generation set of circumstances, one that the savvy Lims recognized early enough and are now putting into motion.
Expat Living, Easy Living
The Lim family's move to JB by means of the
MM2H visa is an astute decision, one that will improve their quality of life, whilst, in all likelihood, increasing their savings. With the rental income from their Yishun home, they can enjoy a very comfortable lifestyle in JB, provide their child with excellent educational opportunities and access high-quality healthcare facilities. The icing on the cake is the fact they can remain connected to their Singapore roots whilst living the life they love.
With this in mind, it's no surprise that more and more Singapore households have been contemplating JB as their second home.
