Ranked top 5 economies in Southeast Asia, Malaysia is an attractive country with a myriad of business opportunities, world-class amenities available, scenic views, and their unique way of life. Let’s take a closer look at the top 4 reasons why migrating to Malaysia could be your next big move.
Good Standard of Living
If you are looking for a place with a relatively good standard of living, Malaysia might just be the place for you! From its low cost of living, accessibility to amenities, to comprehensive transportation system, living in Malaysia can be convenient and comfortable.
Low cost of living
Malaysia is well known for having a low cost of living, especially when compared to larger western cities like San Francisco or Asian cities like Singapore or Hong Kong. With the country offering both the extravagant living to a humble lifestyle, there’s always a place for everyone.
While the cost of living is low no matter the states you are living in, cities like Kuala Lumpur is more expensive as compared to Penang.
For example, a plate of noodles with chicken and vegetable cost USD$2 and a whole steamed fish would be approximately USD$10, plenty of food for a pair.
On the other side of the spectrum, Kuala Lumpur being an urban centre, it offers a range of food restaurants and local cafes, which may be slightly pricier than smaller states.
Accessibility to amenities
No matter where you are in Malaysia, amenities are readily accessible in most cases. For instance, Tanjung Bungah, a quiet neighbourhood located north of Penang Island, has a great wet market and is a convenient drive down to Georgetown, the city of Penang.
Kuala Lumpur, the capital of Malaysia, known for the high-end shopping malls, PETRONAS Tower, world-class restaurants, and hotels.
Transportation is accessible, with plenty of taxis readily available. The public transport system in KL is also extremely affordable. As for the discreet areas in places such as Batu Ferringhi in Penang, a car may be wise as it is more difficult to get private transportation.
With most cities are within driving distance from each other, getting around states is convenient too if you have a car.
All these factors make Malaysia a really livable country, attracting millions of expats from all over the world.
FUN FACT: There are over 3.5 million expats in Kuala Lumpur alone!
Ample Business Opportunities
Malaysia is popular amongst expats to either work or to set up a business in due to the business freedom in Malaysia. Check out some of Malaysia’s ranking when it comes to business below:
Ranked 22nd worldwide for Economic Freedom
Ranked 4th amongst 40 countries in the Asia-Pacific region
Malaysia’s economy ranked 2nd in Southeast Asia despite the pandemic
In the past decade, Malaysia has been an attractive regional hub for their services, with promising growth in sectors such as:
Malaysia’s geographical location also plays a major role in business opportunities as the Strait of Malacca is a major sea-route connecting the Far East to Asia, Europe, and the Middle East. It is also neighbours with Thailand and Singapore and are connected via roads, making it an attractive location for international entrepreneurs for their next business set-up destination.
Strong Expat Community
Being such an attractive country for business, Malaysia has a significant expat community. The Malaysia government encourages international students and grants student pass for them to study in the international schools offered.
Numerous expats feel that Malaysia is easy to live in as English is commonly spoken around the country, in business as well as many sectors, including healthcare. This is one of the reasons why Malaysia ranks 4th out of 50 countries as best country for expats.
Malaysia had introduced ‘Malaysia My Second Home’ (MM2H) programme and it has become popular amongst eligible expats as it grants them a 10-year long visa that allows them to enter and leave the country along with many other benefits.
FUN FACT: Over 48,000 expats were granted visas under the MM2H Program since 2002!
The government of Malaysia continuously improves the infrastructure to remain attractive to foreigners, as well as to enhance quality of life. This results Malaysia to be one of the most well-developed countries in Asia, making it a top option to live and work.
The developed public transport in Malaysia is a railway system that runs through Malaysia and goes North to Thailand, and South to Singapore. They also have seaports that connect to other major ports in Malaysia such as George town, Kuantan, and Kota Kinabalu.
Moving to Malaysia
These are just a few of the top reasons why people and businesses are moving to Malaysia. While these are key driving factors when making a decision to migrate to Malaysia, one should also consider their needs and goals to ensure it aligns with the lifestyle Malaysia can offer.
The large expat community is a testament to how livable Malaysia is, so experience it first-hand if you have the opportunity to!
Thinking of migrating or setting up your company in Malaysia? Reach out to us for your incorporation or relocation today!
Malaysia is known for their capital city, Kuala Lumpur. Its diverse culture and breath-taking natural beauty are top drawing factors. Malaysia has a lot to offer in terms of low cost of living and amenities, and has numerous destinations with amazing views such as Kota Kinabalu and rainforests such as Borneo in Sabah.
Where is the best place to live in Malaysia?Tommy2021-09-14T20:40:15+08:00
This is dependent on your ideal type of lifestyle and priorities. Places such as KL offer a more luxurious lifestyle compared to more rural areas like an island. In another scenario, if a large expat community is Important, states such as Penang and Kuala Lumpur have a significant expat community.
Am I eligible to apply for the MM2H visa?Tommy2021-09-14T20:39:22+08:00
There are financial requirements in order to be eligible for the visa, that you may refer to at the official website here. Applicants must have a sufficient amount of money in liquid assets, an offshore monthly income as well as a fixed deposit, depending on the age of the applicant. Find out more about MM2H Programme here (link to MM2H article).