A Single Entrepreneur's Relocation from Punggol to JB
So meet John, a 30-something Singaporean business owner, residing in a fully paid-for home in Punggol. John runs an online retail store selling retro toys and other collectors' items. He's done quite well for himself, but with the rising cost of living in Singapore, John has been considering rebasing to JB, eventually using the
Malaysia My Second Home visa to reside in JB for the long term. By relocating to JB, John aims to reduce his living expenses by 30-50%, enabling him to save more money, whilst also lowering his stress levels.
Financial Tailwinds
John's primary motivation for moving to JB is the significant financial benefits such a move entails. The rental income from his Punggol home, combined with his savings, contribute to a solid financial foundation, for starters. Additionally, the lower cost of living in Malaysia, coupled with the very opportune SGD to MYR exchange rate, allows John to enjoy a much higher standard of living than in Singapore. Basically, he won't need to worry about his finances by any stretch of the imagination. But relocating to JB also enables him to allocate more funds towards expanding his online business
and his personal savings.
Expat-Living
Living in JB offers John a more unhurried pace of life, as well as a more spacious environment, certainly when compared to his life in the relentless rat race of ever-congested Singapore. How is this leap in John's quality of life possible? Well, after decades of economic progress, Malaysia offers a very comprehensive range of amenities and recreational activities, all of which resulting in a boost in lifestyle for John, as well as for all other expats from overseas that have recognized this unique arbitrage opportunity of course. After all, the cost of living in JB and Malaysia is still so much lower than in Singapore, for example. In a nutshell, Malaysia's relatively low cost of living and relatively high standard of living have hit the sweet spot—the chance of a lifetime.
With the rental income from his Punggol home, John can afford to buy a larger home in JB and he'll almost certainly enjoy an expat-type lifestyle. Even that landed home he's always dreamed of living in may now well become reality, given the much lower property prices in JB. But John is also looking forward to exploring JB's vibrant markets, countless
makan options and variety of cultural events throughout the year. And let's not forget the stunning beaches Johor is renowned for.
Healthcare and Singapore Around the Corner
As with most people, healthcare is an important consideration for John, that goes without saying. Over the years, JB has grown a reputation for boasting several top-tier private medical centres, some of which, in fact, are run by Singapore medical groups, including Gleneagles Medini and Regency Specialist Hospital, both qualified under CPF/Medisave. So this ensures that John has access to excellent, yet affordable healthcare facilities. Additionally, it's no secret that JB is just a Causeway hop from Singapore.
Well, consequently, this proximity allows John to retain his ties with friends and family across the Straits. Add the RTS that's in the making and John is practically assured of being able to travel between JB and Singapore as easily as from Jurong to Bedok. The short travel time between Singapore and JB means that he can also continue to seamlessly manage his business operations in JB and Singapore.
Unique Set of Circumstances
For John, moving to JB on the MM2H visa is an opportunity with significant upside and limited risk. Whilst he's planning to rent a JB home initially, to get a feel for life there, before committing to a long-term stay, he may opt for the MM2H long-term visa later on. The MM2H visa is a good idea, because the 30-day social pass is unlikely to cover his JB aspirations. Fortunately, getting approved for the MM2H visa is now more feasible than ever, particularly MM2H Silver and MM2H SEZ/SFZ.
Not to mention the fact that MM2H offers numerous other benefits, including tax breaks on remitted funds from overseas, be it Singapore or elsewhere, along of course with the ability to live in Malaysia hassle-free for an extended period of time, as in, up to 10 years at least. By gradually transitioning to life in JB, John is able to make an informed decision about the move and, in so doing, avoids committing without first being completely convinced that rebasing to JB is indeed the right thing to do.
Selamat Datang in JB
John's move to JB by means of the
MM2H visa looks to be a savvy choice, one that enables him to boost his quality of life the moment he crosses the Causeway from Singapore, whilst also enhancing his financial worth. By using the rental income from his Punggol home and, optionally, by periodically tapping into his savings, he can live quite a luxurious lifestyle in JB, get access to top-notch healthcare facilities
and yet still stay connected to his network of family, friends and business in Singapore.
Is it any wonder that, at least according to some surveys, over 50% of Singaporeans have indicated that they've been considering retiring in JB?
