Feature articles #1.
Retire in Penang, Malaysia
If you are looking for a place in the sun to spend your twilight years, you could do no better than looking at the island of Penang, off the west coast of Peninsula Malaysia.
With a much lower cost of living than many other desirable locations nearer to home, Penang is the ideal location:
Ø Penang is close to major airports
Penang has its own airport with cheap and frequent flights to Kuala Lumpur (45 mins)and beyond. Malaysia is near Thailand, India, Sri Lanka, Australia, Japan by air.
Ø Real estate is affordable and investment-worthy
Condominiums: US$ 66,000 to US$ 250,000, Bungalow: US$ 66,000 to US$ 225,000, Two Storey Bungalow (5 to 7 bedrooms): US$ 396,000 to $US 1.3 million, Luxury Villas: average US$ 925,000 upwards.(PropertyWorld.com)
Ø Penang has excellent facilities and infrastructure
The road network is good and well maintained. Communication networks work and medical facilities are of high quality.
Ø The people of the area are warm and friendly
Malaysians welcome foreigners to their shores, and English is widely spoken.
Ø Penang’s climate is mild
It is warm throughout the year. There is seasonal rain, but no natural dangers from typhoons, hurricanes or earthquakes. (Penang was only slightly affected by the recent tsunami)
Ø The cost of living is low
A monthly expenditure of the equivalent of USD 1000 is more than enough for two people to live well.
Ø The standard of living is high
Life in Georgetown, Penang, is modern – housing is good quality – services are good.
Ø Malaysia is politically stable
Malaysia has a strong, stable government and economic growth is assured in the future.
Ø There are schemes in place to provide ex pats to benefit from living in Penang
Foreign residents must obtain a Social Visit Pass, (valid for 5 years) which requires proof of a minimum deposit of US$ 39,600 with a local financial institution and a monthly offshore income equivalent to a minimum of US$ 2,000 per month and US$ 2,650 if accompanied by a spouse. (PropertyWorld.com)
You will receive a five-year Visit Pass and Multiple-Entry Visa, renewable every five years.
You can import your car or purchase a new car, tax-free and enjoyother tax incentives.
You can invest and own businesses in Malaysia.
You can enjoy a luxury lifestyle at a fraction of the cost of living in the West. It is a very affordable place to retire early.
You maintain your original citizenship and are free to travel as often as you like.
Foreign owners are permitted to buy up to two houses at a cost of not less than US$ 66,000 each, which also entitles them to a housing loan from a local bank. If selling a property they are subject to 30% Capital Gains tax.
(PropertyWorld.com)
Loans of 60% of the purchase price are available to foreigners on the proviso that the property value is RM 250,000 and above. Current Base Lending Rate 6.8% per annum; loans are available up to a period of 20 years.
(PropertyWorld.com)
Give it a try – make enquiries at:
http://www.workpermit.com/malaysia/malaysia.htm
Robert L. Fielding
If you are looking for a place in the sun to spend your twilight years, you could do no better than looking at the island of Penang, off the west coast of Peninsula Malaysia.
With a much lower cost of living than many other desirable locations nearer to home, Penang is the ideal location:
Ø Penang is close to major airports
Penang has its own airport with cheap and frequent flights to Kuala Lumpur (45 mins)and beyond. Malaysia is near Thailand, India, Sri Lanka, Australia, Japan by air.
Ø Real estate is affordable and investment-worthy
Condominiums: US$ 66,000 to US$ 250,000, Bungalow: US$ 66,000 to US$ 225,000, Two Storey Bungalow (5 to 7 bedrooms): US$ 396,000 to $US 1.3 million, Luxury Villas: average US$ 925,000 upwards.(PropertyWorld.com)
Ø Penang has excellent facilities and infrastructure
The road network is good and well maintained. Communication networks work and medical facilities are of high quality.
Ø The people of the area are warm and friendly
Malaysians welcome foreigners to their shores, and English is widely spoken.
Ø Penang’s climate is mild
It is warm throughout the year. There is seasonal rain, but no natural dangers from typhoons, hurricanes or earthquakes. (Penang was only slightly affected by the recent tsunami)
Ø The cost of living is low
A monthly expenditure of the equivalent of USD 1000 is more than enough for two people to live well.
Ø The standard of living is high
Life in Georgetown, Penang, is modern – housing is good quality – services are good.
Ø Malaysia is politically stable
Malaysia has a strong, stable government and economic growth is assured in the future.
Ø There are schemes in place to provide ex pats to benefit from living in Penang
Foreign residents must obtain a Social Visit Pass, (valid for 5 years) which requires proof of a minimum deposit of US$ 39,600 with a local financial institution and a monthly offshore income equivalent to a minimum of US$ 2,000 per month and US$ 2,650 if accompanied by a spouse. (PropertyWorld.com)
You will receive a five-year Visit Pass and Multiple-Entry Visa, renewable every five years.
You can import your car or purchase a new car, tax-free and enjoyother tax incentives.
You can invest and own businesses in Malaysia.
You can enjoy a luxury lifestyle at a fraction of the cost of living in the West. It is a very affordable place to retire early.
You maintain your original citizenship and are free to travel as often as you like.
Foreign owners are permitted to buy up to two houses at a cost of not less than US$ 66,000 each, which also entitles them to a housing loan from a local bank. If selling a property they are subject to 30% Capital Gains tax.
(PropertyWorld.com)
Loans of 60% of the purchase price are available to foreigners on the proviso that the property value is RM 250,000 and above. Current Base Lending Rate 6.8% per annum; loans are available up to a period of 20 years.
(PropertyWorld.com)
Give it a try – make enquiries at:
http://www.workpermit.com/malaysia/malaysia.htm
Robert L. Fielding
posted by Justice at 1:57 AM
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