
Go by: taxi . bus . train . plane . ferry |
As a Singapore couple looking to retire early, my husband and I have been drawn to the idea of rebasing to JB for some time now. Owning a paid-off condo in Tampines, which should fetch around S$3.5k in rental income, we've realised that living in JB would offer a more stress-free, financially sustainable retirement. And the Malaysia My Second Home visa has emerged as a pretty attractive option for us to secure residency in Malaysia, whilst at the same time, we can also maintain close ties to Singapore.
But why are we considering moving to JB? Well, we all know that JB offers a much lower cost of living compared to Singapore and the very good SGD/MYR exchange rate further amplifies our financial benefits once we're in JB. With our Singapore rental income, once converted into Ringgit, effectively tripling our purchasing power, we'll enjoy a much higher standard of living in JB.
In fact, we've already determined that we can afford to rent a big property in one of the many expat-friendly communities in JB, complete with amenities and including security. So we've decided to rent for about year, which should be enough for us to decide if living in JB is as good as it's cracked up to be. If it is and we really like it, we'll go ahead and commit to buying a place. That'll also be about the same time we'll apply for the MM2H visa.
Gated Community
We've already explored some of the upscale residential areas in JB and we're pretty excited about living in a gated community, tbh. It's no secret to many Singaporeans that JB's property market offers a wide range of choices, from high-rise condos to landed homes, at prices that are a fraction of what we'd pay in Singapore.
So finding a nice home shouldn't be a problem. Better still, the safety of these neighbourhoods is about the same as in Singapore and I think we can also count on the expat community to offer a friendly and supportive network. All we need to focus on from here is our visa.
Social Pass Vs. MM2H
Whilst we'll try to get by on our 30 day Social Pass allowance the first year, we realize that ultimately, the MM2H visa is a more appropriate choice for the long-term. I mean, one of the main advantages of MM2H has to be the stability it provides.
Only a long-term visa like MM2H allows us to stay in Malaysia for extended periods, without worrying about frequent entry stamp renewals, visa runs, or getting screened at CIQ, or possibly even blacklisted. We've heard that this has happened to some Singaporeans after spending more time in Malaysia than their the ASEAN social pass intends to provide. So this issue is something we aim to avoid by applying for the Silver MM2H visa, which actually offers a lot of other benefits too for retirees like us.
World-Class Medical Care
Medical care is another key factor that influenced our decision to rebase to JB. The private hospitals and clinics there are renowned for their really good services, yet the cost of healthcare in JB is much more affordable than in Singapore. As we grow older, having access to top-notch medical care without breaking the bank is essential. And some of the JB hospitals are actually owned and run by Singapore medical companies. So likely, we'll receive Singapore-style service at Ringgit-rates. A winning Combination.
The other significant pull factor for us is that with the RTS nearing completion, commuting between JB and Singapore will be much less painful than it used to be. In fact, door to door will probably take about an hour—if that. This means that we can visit Singapore pretty much anytime we want, whether for family gatherings, errands, or simply a day out with our kaki.
Come to think of it, basically, we'll have the best of both worlds: we get to enjoy all the comforts and goodies that JB offers, whilst also staying connected to good old Singapore. I mean, I won't say rebasing to JB is a no-brainer for everyone, but it sure is close to one for us.
We Can't Wait :)
As far as we're concerned, rebasing to JB is our way of achieving a fulfilling and financially comfortable retirement, one that we don't believe is possible if we stay in today's Singapore. With the MM2H visa, we feel we can have both JB and singapore in our quiver, so to speak.
By Bernice and Lucas Hung,
Singapore