Quote:
Originally Posted by aubella
By taking more from you, Malaysia Government will give back something to you....
As per the new guideline, you now can:
1) Work part-time for up to 20 hours a week, in a job approved by the government.
2) Invest and manage your own business, as long as you form a private limited company.
3) Even if you do not buy a house, if you have invested in a unspeculative business, you could withdraw the MYR 50,000 or MYR 150,000(for anyone below 50 years old) after one year of MM2H.
So rather than looking at the additional MYR 40,000 that has been taken out from your retirement nest, you could look at the other side of the coin of which you could generate more income in Malaysia to support your retirement life. Life of just lying in the beach all days will be very boring after a few months. Even if you do not need the income, the choice of able to turn a hobby into a income generating activities can be quite satisfying.
If one is below 50 years old, the requirement has now changed to maintaining MYR 150,000 after one year, which means that only MYR 150,000 are allowed to be withdrawn.
|
Hi aubella,
Hmmm, pay for the privilege of working - so long as the government approves of what I do? I'm not sure that's a plus. How about if what you know or want to do isn't allowed? That sounds very one-sided having to pay to work - and only up to 20 hours.
I would hope anywhere one went we could invest and 'manage' our affairs - but they want to regulate even that by require that one form a private limited company? More bureaucratic interferrence, red tape and expense so that the government can tax us? Not trying to be argumentative but again, not a very big plus to leave an extra $US11,500 in a government approved bank. Why not just go there, live on a regular 'Social" visa and every 90 days take a side trip. Annoying and a bit of a hassle but it sure gives you a lot more money that you get to keep. When people reach 65 being "allowed" to work but "only" up to 20 hours isn't really very attractive. I'm reminded of the quote - "That government is best that governs least". Nations do far better when they leave their citizens [and those who chose to legally live there] unfettered by an over-reaching government. That was what made nations great and the over-regulating is what destroys them. It made America great and now it's destroying it by over-reaching, unnecessary government bureaucrats insinuating themselves into every nook and cranny of our lives. Same is true of Italy - it's greatest days were the glory years of the Renaissance but look at that great nation now. A pox on a government that regulates for their own benefit. Anyway, thanks for your response but their MM2H program, which sounded so attractive, isn't attractive anymore given those extra burdens.
Serendipity2