MALAYSIA:
An Asian Retirement Paradise
By Shannon Roxborough
Asia's
best-kept secret for expatriates, Malaysia has a vibrant mix of
foreign and indigenous tribal cultures, creating a veritable melting
pot of peoples, traditions and religions.
A sizable
enclave of foreigners (Brits, Americans, Australians, and Canadians)
live full time or maintain holiday homes in Malaysia, and you'll
find that just about everybody speaks English, since its compulsory
in local schools.
Not
only are three world-class playgrounds (Thailand, Bali, and the
Philippines) all within a few hour's travel from Malaysia, but with
miles of white sand coastline, tropical islands, and beachfront
property galore, it has all the makings of a fairy-tale setting.
Despite
being the capital of a developing nation, Kuala Lumpur is a modern
cosmopolitan with clean streets and sidewalks and every modern convenience
to found in New York or London. Home to the tallest building in
the world, there are also FedEx and UPS offices, international banks,
English cinemas and bookstores, western-style supermarkets, French
and German bakeries, Chinese, Indian, and Italian restaurants, gourmet
coffee, Cuban cigars, Internet cafés and some of the best
shopping in the world!
One
of the few things that lend a "Third-world" feel to the
capital are the open-air night market, where local merchants peddle
everything from fresh fruit and vegetables, to meat and fish, to
exotic animals and traditional handicrafts.
All
the major newspapers are available at newsstands, including the
Wall Street Journal, USA Today, the Financial Times, the International
Herald Tribune and The New York Times. Cable and satellite TV provides
access to a wide variety of English-language programming, including
CNN, the Discovery Channel, Filmnet and many more.
Despite
the local Muslim population not drinking alcohol, Kuala Lumpur has
some of the liveliest nightlife in the region and there are more
than a fair share of clubs and bars, where tourists, expatriates
and locals alike mingle and party. Though the official religion
of Malaysia is Islam, great tolerance is shown for other religions,
with many beliefs being represented and their adherents practicing
openly, including Christians, Hindus, Buddhists, Taoists and Jews
(the nearest synagogue is in neighboring Singapore).
Compared
with other major Asian cities (Tokyo, Singapore, and Hong Kong,
for example), Kuala Lumpur is downright cheap. Even in the over-priced
tourist spots you can get a good meal for two for around $20. Outside
of these places, a 3-course meal for two with all the trimmings,
including drinks, will set you back no more than $10…a doctor's
visit $8 to $15 and live-in domestic help $200 a month.
Rental
properties are readily available and not overly expensive by American
or European standards. The cost of 2-bedroom rental apartments begins
at around $225 per month, with 3-bedroom houses starting at $35,000.
Naturally, comparable housing in expatriate communities or the luxurious
suburban homes that date from British colonial period can set you
back considerably more.
Other
properties recently on offer include:
A 2-bedroom,
1-bathroom, 725-square-foot apartment with a dining room, a kitchen,
ceiling fans, a walk-in closet, and parking, costs $45,215.
A small
two-story bungalow with 2 bedrooms, 1 bathroom, a kitchen, a living
room, and a dining room going for $35,700.
A penthouse
apartment, close to downtown, with a sea-view and a 350-sqare-foot
terrace. It comes fully furnished and has 2 bedrooms, 1 bathroom,
a kitchen, and a dining room. The asking price? $75,000.
A spacious
3-bedroom, 2-bathroom, 2500-square-foot condominium with a large
living room, an elegant dining room, a fully equipped kitchen, and
a pantry, for $125,250.
Though
there are expensive restaurants and accommodations, there's simply
no reason for you to check into a five-star hotel when you can stay
in a clean, friendly hotel in the city center for $40 a night where
every meal costs less than $5 per person.
CRIME-FREE
AND FOREIGNER FRIENDLY
Of
course, cheap living shouldn't be the only deciding factor when
choosing a new home. As well as being very affordable, Malaysia
is safe.The government's real no tolerance policy means street crime
is virtually nonexistent.
The
Malaysian government, through its "Silver-Haired Program,"
offers expatriate resident retirees extremely attractive benefits.
Outside of nationals of Israel and Yugoslavia (Serbia and Montenegro),
the program is open to citizens of most countries. To qualify, you
need only be over 50, show you can bring a guaranteed income of
about $1300 per month into Malaysia (or open a savings account in
Malaysia with $40,000), and have a local sponsor (which can easily
be arranged).
Penang,
a small island off the northwest coast, has been called the "Pearl
of the Orient" and its beaches are a favorite tourist destination.
The coastline is also dotted with many small, quiet seaside villages.
The tropical rainforests and jungles offer many opportunities for
exploring lush mountains, trekking through the jungle, or even taking
a riverboat safari. The bountiful sea surrounding Malaysia provides
for some of the best scuba diving and fishing anywhere in the world
(Malaysia's seas are home to the Black Marlin, tuna, mackerel, sailfish,
barracuda and a host of other species).
PRACTICAL
BENEFITS
Medical
care is good, with excellent hospitals and clinics in all the major
towns. Doctors speak English, and the majority gained their qualifications
in Western Europe or North America.
Although
foreign residents must arrange private health insurance, visiting
tourists who have an accident are entitled to free emergency treatment
in public hospitals. A consultation with a private doctor in most
cases will cost just $8 to $15.
When
it comes to banking, management methods and the range of services
offered closely follow the British model. Plus, most major world
banks have full-service branches in Malaysia.
Many
expatriates living here off investment income keep their cash growing
tax free in Labuan, an offshore tax haven administered by Malaysia,
and then bring into the mainland what's needed for living expenses.
Labuan is also perfect for anyone looking for a private, offshore
bank account, a tax-free corporation, a trust, or other offshore
structures.
Led
by Malaysian Airlines, the national carrier, the island is served
by many major airlines, linking it the world through its international
airports. A good network of modern roads covers the distances between
towns, and Malaysian telecommunications are among the best in the
world.
If
you've ever thought about living overseas, you owe it to yourself
to investigate Malaysia.
About
The Author
Shannon
Roxborough is an international lifestyle expert with close to 20
years experience. He has helped hundreds of clients with overseas
living, retirement and travel matters. Visit his website at: www.TheGlobalLife.net
askinternational@aol.com
