If you are considering relocating overseas, Malaysia should top your list of priorities. But if you are unfamiliar with the process of becoming an ex-pat or are just worried about the current state of the travel and tourism industry, it can be difficult to know where to begin. With this year continuing to throw curveballs for travellers and locals alike, there are more factors to consider than ever before. Continue reading to familiarise yourself with a comprehensive guide to moving to Malaysia in 2021.
Decide which property type you prefer
Before you move to Malaysia, you must decide which property type you prefer. With the country’s real estate market continuing along an upwards trajectory, it can pay to be prepared. If you don’t know where to begin, start by choosing between a high-rise condominium or a landed terraced house. If you are looking for a property equipped with basic facilities for an affordable price, a high-rise condominium can be a great choice. They also tend to be in close proximity to key public amenities and services within sought-after locations. As a result, you will never be too far from a public transport link, school, shop, hospital, park, and bank. If you are looking for ample outdoor space or to extend your property in the not-so-distant future, on the other hand, a landed property should be your number one choice. With Malaysia’s real estate market growing at an ever-changing rate, there is a wide range of properties to choose from guaranteed to suit homeowners on both ends of the financial spectrum.
Research your travel options
Before you make the move to Malaysia, you must research your travel options ahead of time. If you are a current resident, you may be able to move from one residential area to another with little to no paperwork, or effort, required. If you are relocating overseas, however, you may be presented with greater challenges. For example, with the rules and regulations regarding international travel continuing to alternate on a daily basis, you must keep up to date with any emerging news stories or sudden announcements. With the Malaysian government advising against all but necessary travel into the country, you may only be able to move under extenuating circumstances. To find out if you can move house during MCO, you must research the guidelines in your local area before you make any permanent or long-lasting arrangements.
Familiarise yourself with prices
Depending on where you are relocating from, you may find Malaysia cheap to live in. With the country one of the cheapest when it comes to housing, food, clothing, electronics, mobile data, and public transport, it is becoming the number one choice for a growing number of homeowners on a global scale. It is worth noting, however, that the cost of alcohol can be relatively expensive with most tourists and locals alike reserving the pleasure for special occasions. But if you are unfamiliar with the exchange rate of the Malaysian ringgit compared to your home currency, it may benefit you to conduct some research beforehand. For example, M100, which roughly converts to £17 or $24, can pay for a week’s worth of groceries for two people including bread, eggs, meat, eggs, vegetables, and any snacks that may take your fancy. If you prefer to frequent restaurants on a regular basis, M100 can be enough for up to ten separate meals from a Malaysian food court or hawker centre. Finally, M100 can also pay for wireless broadband for your entire home.
Consider an incentive or program
If you are considering relocating to Malaysia, it may benefit you to consider an incentive or program. The Malaysia My Second Home (MM2H) program was established in 2002 to promote the country on a global scale and encourage overseas visitors to buy and own a property in Malaysia. In the simplest of terms, it seeks out successful applicants from around the globe and provides them with a renewable multi-entry visa that is valid for a maximum of ten years. The program was temporarily suspended in 2020 but has now been reactivated for homeowners looking for their forever home in Malaysia in 2021. To become eligible for the MM2H program, you must be aged between 35 and 49 or 50 and above, pledge to reside in the country for a minimum of 90 days per year, be able to extend proof of liquid assets of a minimum of M1.5 million, and subject to a pass fee of M500 per year.
If you are considering moving to Malaysia at some point in 2021, there are a number of factors you must familiarise yourself with beforehand. This includes deciding which property type you prefer, researching your travel options, familiarising yourself with prices, and considering an inventive or program.