Why You Should Consider Malaysia’s New Visa
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- Опубликовано: 12 дек 2024
- With all the changes going on in European visa programs this year, it’s easy to overlook developments on the other side of the world. That would be a mistake, because there are some great opportunities there. Malaysia, for example, launched a digital nomad visa about a year ago. It’s called the De Rantau Nomad Pass. Here’s everything you need to know…
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#malaysia #malaysiavisa #malaysianomadpass
Just came back from a 3 month trip to Malaysia. I used to live in Shenzhen, China. I had visited Malaysia twice before, in 2009 and in 2013 when I lived in China , but this time it was a whole different experience. Spent majority of my time in Kuala Lumpur, known as KL among foreigners, and the city has really transformed itself and become a very modern, vibrant and an amazing city to reside. KL in the next coming years will definitely be the new gem of Southeast Asia. Can't wait to go back and live there ! Cheers from Amasya, Turkey !
Ikr. I have been living in KL on and off over the past 15 years. Its really amazing to see the progress every year. And while I certainly think certain parts of KL are still quite dirty. The tourist area has become squeaky clean. When I first come here even the tourist area was somewhat dirty. I feel like people are getting more and more civic conscious and littering has been reduced greatly over the past few years.
and how exactly are you going to 'live' there? you cant get a visa.(>3 m)
Welcome to Malaysia 🇲🇾
I could get a visa :) @@alexandertraveler510
Thanks : ) @@decTac
Geographically, Malaysia is nestled in a very strategic location in SEA being right next door to expensive Singapore and you don’t pay high cost of living over here in Malaysia. Everything you want in Singapore you can get it easily in Malaysia at a fraction of the cost. Next to it again is Indonesia, Sumatra and Bali for a holiday getaway or get some travel stories for digital content creations. On top of the map is Thailand where you can easily get to the nearest island paradise of Koh Lipe or get to Bangkok by railway or a short flight. Malaysia is a heaven on earth for digital nomads to live, communicate, get affordable health services, and pay less taxes.
Thanks for sharing this video..
Malaysia is indeed one of the best place to live in the world..👍🇲🇾
think again.......lol......its a pro islamic
@@DHARMIK_M what's wrong with it.. they are multi racial, multi cultural and multi religions..The Islamic law never judge the non-Muslims.. The non Muslims have separate civil law..
@@decTac how many years you have lived in MALAYSIA ....say me ?
@@DHARMIK_M none of your business!!!
@@decTac so that means its 0 YEARS
Thanks for update on Malaysia Did not know applications decreased by 90%. I’ll give it another look now. It’s a very attractive country
Malaysia closed to visa applications for 3+ years until recently. Then they introduced tougher requirements on retirement visas because they want richer people, but introduced easy new visas for achievers, entrepreneurs, and digital nomads. Many western expats are priced out of the retirement visa, but heaps of wealthy chinese have gotten the new 2nd-home visa lately.
@@davidrichards1741 For retirees, what is the minimum income level needed to gain a visa there?
Thank you for bringing this program to my attention!
This is an attractive digital nomad visa option in terms of earning requirements and the tax scheme which makes it a no brainer. I'm approaching mid-50s so I'm on the fence with trying remote work for a number of years or just retire within the next few. I'm looking forward to seeing what the Malaysian government decides on their revised requirements for peninsula MM2H (there are similar MM2H visa options for the Sarawak and Sabah regions on the island of Borneo which have easier requirements to meet).
I'm in the same situation.... retire early at 55 or work remote and wait a few years to access pension. It's tough bc I can work from anywhere (teacher) but not sure I want to! 👍
Ha I wondered where Ted went to. I liked the investment economic show you used to do for the macroeconomic take more than the investing. I left my home country in 2011, changed nationality twice and lived in 6 countries so I'll follow for the heck of it to see how it's going. and if I get any Ideas. This space needs facilitated pier interaction groups for experienced entrepreneurs and global citizens.
I'm not sure about the foreign income claim. Foreign income like a pension might not be taxable in Malaysia, but if you're doing work physically in Malaysia as a "digital nomad", even if it's for foreign clients, I'm pretty sure will be taxable in Malaysia if you're a resident there. It was sort of implied "foreign" income is not taxed, but like most other countries, if you're physically doing the work within the country, you should be paying taxes there as a resident.
Foreign sourced income brought into the country IS taxed if it is not taxed in the country of origin. No longer can you hide there and live “tax free.”
I think it’s more about where the income is coming from rather than where you’re performing your activity.
Income coming from overseas is considered foreign income by almost any tax code. Hence is subject to foreign income tax rules
@@se7sTC oh my. Almost any tax code cares about the where the work is performed, not where the money is sent or who sends it. This is about income, not dividends or distributions or any type of unearned income.
In basically every country, Malaysia included though, if you are being paid to do work while in the country, that is local sourced income
@@kalenstech5453 I think US is the only country that strictly considers income to be foreign if the source is non U.S. based and the service is rendered while your tax home is not the U.S. this is due to US taxation process which taxes its citizens anywhere around the world. It specifies strict criteria for what’s foreign income, because foreign income can be eligible for some tax credit or exemption
But take UK for example, an income is considered foreign in the UK if it’s earned through non UK source and is taxed based on whether you stay in the UK or not. So you can earn foreign wages. It will be considered foreign income, but will be taxed as regular income if you’re UK resident for tax purposes.
It will not be taxed if you’re not UK resident for tax purposes
At the end of the day, it boils down to what Malaysia considers to be foreign income regardless of our points of view
Thanks for Considerate Malaysia 😬🇲🇾
I love my MM2H visa, one of the best choices I ever made.
Is MM2H good only for retairees. How about investment in buying rentable homes in Malaysia. Is the resale of properties will give good returns.
@@green_curve The whole nine yards.
I read somewhere many years ago that Malaysia will take former citizens who has given up Malaysian citizenship back to malaysia. Woudl you have any idea about that? I was born in malaysia and there are times I would love to go back there and live.
"Catch up with Vietnam"? I dont think youve been to Malaysia. Vietname per capita GDP is way below that of Malaysia
I own an online retail business in the US and am considering establishing a 2nd home base in Malaysia. I no longer qualify for MM2H due to the higher financial requirements but I do earn more than US $24K/yr. But what would my options would be after 2 years?
I suggest you apply for digital nomad. After 2 years, MM2H will be liberalized by then. I know the changes regarding MM2h is painfully slow, but it was part of the budget. Changes will happen on this.
digital nomad visa is very hard to get. i dont think you qualify.
I think you should have a look at the De Rantau visa. It's much easier to get. Looks like the requirement are not that strict as well but maybe I haven't read enough.
Hello there, may I know what other countries that do not that foreign income? Thank you.
Just a few comments on the information provided: If your application for the DE Rantau Digital Nomad pass gets rejected, you can apply for a 50% refund, not 75%. And the webiste of the MDEC, the ruling authority gives detailed insight in the taxation, as you will have to pay income tax on your earnings under this visa, you are not exempted from tax. Plus be aware, after 2 years in total, you cannot extend any longer and there is no way you can get a permanent residency or citizenship in Malaysia, it is sheer impossible.
Once you cross the 180 day time period (just keeping it simple here) you are a tax resident of Malaysia, and regarding foreign sourced income, you ARE taxed on FSI brought into the country, if you can not prove that it has been taxed in the country of origin. This is a major change from previously.
But can i reapply for fresh application after every 2 years?
I don't work, what about a retirement visa?
Check his reply to my comment above. Sounds like pension required income still quite high
I'm on MM2H for the past 28 years. Getting a mm2h is not easy FYI and it will never go back to the original requirements by the way.
I literally got mine in 3 weeks from applying, ten years ago, with very little paperwork, when it was in MTAC. I've investigated the new VIP visa as our mm2h decade is now up. The deputy who specially handles VIP with applicants and heads the entire broader MM2H office, said I can have one more mm2h visa for only 5 years not 10 anymore, or get the VIP which is good for 20 years plus one renewal of 20 years for 40 years total. The VIP requires the rm1M deposit, no grandfathering from mm2h. Similarly, my current MM2H will only be renewed once more from 2023 onward, which is now 5 + 5 years = 10 years max and applies to everyone, no more grandfathering. So if you want to stay much longer, you should get the VIP which requires a RM300K payment for one married couple plus something like 50K per kid which is good only until they're 18 or so. This is how they are now really pushing the VIP which has much more benefits for My. Also, neighboring thaland just increased its requirements & costs massively, so they're moving in tandem. With tons of baby boomers retiring and leaving every year now, I agree, it'll only get more difficult and never go back to the good old days. Supply vs demand.
@@davidrichards1741 yep that’s the fact. With out an agent forget as the agent is your sponsor. Ten years ago no problem now not so easy I just went through the renewal. Luckily I can afford what ever changes they make. Thailand same same but different
@@davidrichards1741 u have great story and im speechless cuz im poor
Hell im malaysian.. how did u capture those pics... Hats off
Can you keep getting the digital nomad visa? Or extending? If you want to settle there?
Can you get permanent residence in Malaysia as a pensioner? I wouldn't want to deal with immigration once approaching my nineties.
I'm really seeing a lot of conflicting information about the whole "don't need to pay tax on foreign income" stuff. If I live in Malaysia for more than 6 months, do I need to pay taxes?
does dividend income count for malaysia ?
Dividend income is tax free in Malaysia
Thanks for this video! I too an a content creator-although still fairly early in creating my own personal content for my travel business. I’m definitely looking for something that will work for me down the road when I’m ready to retire from my full time work (which is only a few years from now) and devote my time fully to my travel business. Out of curiosity, what’s the health care like in Malaysia? Cost, quality, access, insurance?
Healthcare here in Malaysia is at a very high level, Malaysia is a high ranked country with state of the art medical facilities at very affordable costs, when compared to Europe and even more to USA.
With a 90-day visa on arrival for US citizens, I'm wondering if you leave after 60 days when you come back do they stamp another 90 or do they subtract the time you've already been there? And how long do you have to be out of the country before returning? Thank you very much.
I was told that it’s a single entry visa, so they won’t stamp another 90 days. Nor subtract the 30 days. It basically starts from zero when you enter again.
But the things is that they don’t like visa runs. So it’s up to them to let you in if you’ve been away for a few weeks or so. Some people had luck, some don’t.
But if you go home (or I also think, are away for a few months) the chances get much higher that you get access again.
I lived in Malaysia for 15 months on a 90 day visa and did trips as and when needed. They probably let me through without question each time because i have malaysian roots (but travel on a western passport) and look malaysian. not sure for you whitey's. I'd say though they're less strict than the Thai's given how much Thailand has trouble with farangs etc
TQ Sir for helpful info ..maybe helpful to interested foreigners..haha
what is the advantage of having Malaysian nationality or permanent residency ?
An American citizen, I must pay tax to the USA no matter where I live and no matter where I earned the income. If I earned no income in or from Maylaysia, would I have to pay tax to Maylaysia on income I earned in or from the USA ?
I have TB 2 years back its cured now but I have a scar in my chest will I get a student visa from India ?
Can you keep doing "visa runs" in Malaysia like in Thailand? Every three months go to a neighbouring country for a day or two and reset the tourist visa clock
Some maid from south Thailand working in Malaysia did that
@@ellehanim9559 I think they are trying to stop it now. Too risky
Good 1 Sir👌
Malaysia catching up with Vietnam? Did I hear you correct? You have to be kidding.
my sister name is malaysia my twin sister
Before the name Malaysia we were called Malaya.
Welcome to Malaysia everyone. This is how Perplexity describes us which is kinda true.. LOL. "...Malaysians are generally considered to be friendly and amusing, with a diverse culture and a unique sense of humor. However, it is essential to be aware of the country's sensitive issues and the potential for friendly rivalry when engaging with Malaysians.." 😅
We are good at screwing up with things we were good at.. Hopefully, they will learn the hard lesson, be grateful of what they are having, and to face the fast pace changing world where competition is so great in all fields.. 😊😊❤❤
Honestly I dont think the MM2H visa brings much benefit to the country. It is for retirees mostly and they are not investing their money in anything except for real estate which then again push up property prices. The current visa to me is okay already. Just look at countries all over the world, even they are making it hard for retirees to come and live in their country. The ones who are productive like Digital Nomads should be welcomed and we already reformed some policies to make it easier for expatriates to live here.
@@secrets.295 the proverb says little by little we can build up a mountain.. Just a simple thought, if 50,000 retired person have breakfast many of our low income hawkers will be benefited. Non stopped everyday they have to eat.. If you think like the west where you encourage their children to study here esp in East Malaysia where English is not an issue, then with thousands coming over, I am sure the fastest way of boosting the economy there is the opening up of education by having retirees children to enroll there... If you think everyone is so good at digital business then there won't be any poor people around...!!!!!
Be generous don't be petty, don't think that our currency is less and we demand unreasonable figures from them.. To date the MM2H has failed and already a year now still no rectification. Retirees need ample of time to plan moving to a new place,. Put yourself in others people position because it not like local where we just move our dwelling location.. Malaysia famous for red tapes...!!! Every thing is so expensive now and the govt has to act fast to get quick income for the people..
You mentioned that Malaysia does not tax foreign income. From my understanding, this benefit will cease in 2026, meaning that they will start taxing worldwide income in 2027
It closed in 2022. The exemption is only until 2026 and applies only if you are taxed in the country where the income is sourced. Starting in 2027, malaysia will tax it regardless of it being foreign-taxed. There is a new remittance tax in effect now in 2023. You must pay 30% tax on any money sent to Malaysia. Many are ignorant and ignoring it, but they're in for a rude awakening one day.
@@davidrichards1741 My thoughts exactly. So if we add the proposal to tax the remitted income that Thailand intend to pass in 2024, this leaves the Philippines as the only country with a true territorial tax system in Southeast Asia.
Please read 'avoidance of double taxation' between malaysia and source countries. No one can avoid tax. We do not hv GST like most countries. Only sales tax.
@LuiSeD86 indonesia and philippines have big time natural disasters. Just take into consideration.
@@LuiSeD86 Exactly. But there's Singapore and Hong Kong too has a new residency program, if you're uber-rich lol. The HK one is similar to the one that ended in 2015, except now instead of requiring a USD$1.5-million deposit, it's something like $5M or $10M lol. Rather go live in paradise if I could afford to throw away that much money.
Oddly, Philippines has the best taxes among the affordable counties in SEA but it's the poorest country, so I expect they'll have to change their tax regime too before long.
Actually the china economy is upgrading to a developed economy
This is not permanent residency
This is a paid in advance 5 year multiple re entry visa
guys, welcome to Malaysia!
Malaysia has very complicated digital nomad visa process. I hate filling big applications and providing tons of unnecessary things. You can simply live in Korea or Japan visa free 3 months each. With Korea, you can do unlimited visa runs!
... don't forget...a war was coming soon 😅...
*Welcome to Malaysia 🇲🇾Truly Asia Good foods, rainforest good beach & others many More Enjoyed thanks sharing good videos*
🇲🇾♥️💖💗💗🥰🇲🇾💖💗♥️💝🇲🇾
*Welcome to Malaysia, Malaysian likes to lepak2 at mamak restaurant drink teh Tarik - you can joining me to or any Msian if you likes , is no problem for Malaysian 🇲🇾❤️💝💖🧡💖💝❤️🇲🇾*
Did missed the part where he talked about the requirements? They got a case of Thai logic and doubled the fees.
They will tax foreign income. Even worse you can spend only 90 days for 2 or 3 consecutive years and be deemed a tax resident. They are NO LONGER tax friendly... very bad info
Slowly yeah .lets see what happen,maybe there will be sanctions for Malaysia 🤷♂️ after the Prim minister announced his support for HAMAS, just saying 🤷♂️,
What's wrong with supporting Hamas? If you have your property stolen from you, you would sit silent and not retaliate? And we can support whoever we want, that's none of your business. If you want to support Israel or Australia wants to support them. That's your business we don't care, we are not going to sanction for political differences. It's ridiculous and it's undemocratic. Btw, Malaysia has been supporting Palestine for over 7 decades. Mahathir Mohamad who was the former PM of Malaysia for 24 years has been extremely vocal about Israel, we were never sanction. Stop being ridiculous. The great majority of all countries in the world support Palestine. The only country that doesn't support Palestine is English speaking countries. The UN has condemn Israel on so many occasion already. If the US want to sanction Malaysia for supporting Palestine, then I guess they should sanction the entire planet by your logic. Just saying 🤷♀
@@secrets.295 seriously !! Short memory 🙄 do Some research on history 🙄firstly..I was referring to the Visa,and possibly sanctions for the support of Terrorists !!! then you say I should mind my own business 🧐really !! How old are you ? Do you remember The Japanese Imperial Army!?!?! That were murdering everyone in SE Asia and the Pacific region,did you think It would have been best to Mind our own business then !!!??? England, Australian and Indian bodies still lay in Malaysian soil,ask Malaysian people if they remember the terrorists and the men that made it there business to come to your country and others to fight terrorists,so YOU can have a peaceful life. I am sure you will not be going overseas to fight for anyone’s freedom.
Yet we/I don’t hate 😀 now like I was saying in my original reply…. Maybe best to wait and see what happens🙏🏼😀.btw.. your statement was in support of HAMAS ! everyone is in support of Palestine but NOT HAMAS !! Understand!😀
sanctions for Malaysia..?are we committing criminal by supporting Palestinians?
@@azilahabdulaziz4894 NO ! I support Palestine 🙋♂️ but not HAMAS 🤷♂️makasih.
No way for a muslim country. Singapore and Thailand both much better than Malasia.
Thailand is more for backpackers and lower income tourists. Singapore is for the extreme rich. Malaysia has become the number 1 global destination for migration over the last decade because it's neither a backpacker destination or one for extreme high net worth individuals. It's the perfect place for the middle class.
@@alifhashim3752 Thailand is consider WW the highest numbers of tourists. We have many backpackers and luxury shopper in the country. Do not mention, Chinese are the highest numbers among all the countries and also big spender in our country. If you have been to Thailand you will see the difference between Malaysia and Thailand if you are talking about the tourism in the country. Thanks to all the tourists and foreign investors and all visitors to Thailand and brings us to the spotlight around the world. Thailand Bangkok has been tremendously showing improvement and developed in the city and also other provinces in Thailand.
Singapore Thailand tax more expensive...buy house and car Thailand expensive compared to Malaysia
some people like SG, some people like TH, some people like MY... depends on each persons preference... I think Malaysians prefer to be low profile and keep it that way...
We Muslim country...all religion live peace ✌️ in Malaysia....