A New Start in JB for a Singaporean

Being a single Singaporean man in my late 20s with some savings, I've been considering making a move to Malaysia by applying for the Malaysia My Second Home visa. As a content creator earning 2-3k, life in Singapore isn't very comfortable. I'm renting a room, which isn't too bad, but everything just seems to be getting more and more expensive. Worse, I'm no longer able to add to my savings in a meaningful way. My financial situation is basically stagnating :(

I found out about this MM2H visa from a Youtube video and then read more about the benefits it offers on the MM2H.com.sg site. I mean, it's no secret that living in JB with the same income as now can actually give me a much higher standard of living over there.

I think that one of the most attractive things about MM2H is this financial freedom it gives you. With my savings, meeting the MM2H requirements isn't too difficult. But what's really good is the SGD to Ringgit conversion.

Spending Power Boost
With the current exchange rate, my 2-3k means triple the spending power in JB. So not only do I get to live comfortably there, but I also get to save more for my future. And of course, the cost of living in JB is so much lower than in Singapore anyway, which makes my everyday expenses even cheaper. So the SGD I don't need, I'll just leave in my Singapore bank as FD. So my SGD savings can continue to grow.

But also, apparently, Malaysia gives a range of tax breaks to MM2H holders. For example, all income transferred to Malaysia from overseas is tax-free. This is a bonus for someone like me, because my money doesn't get taxed after converting to MYR.

And with RTS set to be completed pretty quickly, the convenience of travelling between JB and Singapore is also quite shiok. So I can enjoy a nice lifestyle in JB, without any money stress or high prices for everything, but still I can be in Singapore whenever I want. And anyway, since I'll probably live closer than 10 clicks away from my parents' house in Singapore, it doesn't even feel like I'm in JB. Although the nicer makan there will probably remind me lah :)

Singapore Influx
Actually, the growing community of Singaporeans living in JB means that you'll probably feel at home in JB too. It seems that I'm not the only one who's had this idea of moving across the Causeway. Anyway, like this, you can make friends and expand your personal and professional network, all the while enjoying the life of an expat. How good is that? I mean, in JB, I can afford my own home, something that's be not really possible for me in Singapore. But I also heard that property prices are going up fast in JB, due to the influx of Singaporeans expected. So I better not dilly-dally too much. Actually, I already found an MM2H agent, so next he will send me the application form. Happy the ball rolling already.

So yes, the way I see it, MM2H provides a good balance of financial benefits and lifestyle improvements and you're still so close to Singapore. To me, it's a win-win situation, not just for me, but for all Singaporeans looking for a better quality of life, while wanting to stay connected to family and friends. They're just a hop across the Straits away.

By Sanjay Narayan,
AMK