Malaysia vs Taiwan. Which is more livable?

Malaysia vs Taiwan. Which is more livable?

Malaysia vs Taiwan. Which is more livable?

FINANCE

2020-06-10

5  Mins Read

The costs of living in Hong Kong is always on the rise and your savings, which looks sufficient now, may just fall short for your whole retired life. To maintain your living standards after retirement, you might want to consider migrating to Taiwan or Malaysia where the costs of living are lower, and the weather, food and culture are closer to that of Hong Kong.

“20% to 30% of our clients are preparing for retirement. In recent years, emerging regions like Taiwan and Malaysia are 2 of the most preferred destinations, and they require less capital to make things happen.” said Ian Hung, Director of Centaline Immigration Consultants (HK) Limited. Adaptability to a new living environment is one of the major concerns for retiring migrants, and Taiwan and Malaysia just have the edge.

Firstly, the weather in these 2 regions is similar to that of Hong Kong. Secondly, the Chinese language is being used in Taiwan and the large Chinese communities in Malaysia, such as those in Kuala Lumpur and Penang. Admittedly, you can use Cantonese in everyday life in Malaysia. Together with frequent flights between these 2 regions and Hong Kong, migrating to Taiwan and Malaysia is simply easier.

Malaysia vs Taiwan

The 2 most welcomed migration plans for retirement are “Malaysia My Second Home” (MM2H) and “Taiwan Citizenship by Investment Program”. Let’s see what their requirements are:

MM2H

Taiwan Citizenship by Investment Program

Investment amounts

Investment amounts

Investment amounts

Applicants below age 50

Over MYR300,000 (HKD600,000) of savings in a local bank in Malaysia

NTD6,000,000 (HKD1,660,000) of assets, not including property

NTD6,000,000 (HKD1,660,000) of assets, not including property

Investment amounts

Investment amounts

Applicants above age 50

Over MYR150,000(HKD300,000) of savings in a local bank in Malaysia

NTD6,000,000 (HKD1,660,000) of assets, not including property

Permanent residence requirements

Permanent residence requirements

N/A

To meet either one requirement: Reside 1 year upon application without leaving more than 30 days

Resided over 270 days for each of 2 consecutive years

Personal financial requirements

Personal financial requirements

Personal financial requirements

Applicants below age 50

Asset: Liquidity proof of over MYR500,000(HKD1,000,000)

Income: Monthly income proof of over MYR10,000(HKD20,000)

N/A

N/A

Personal financial requirements

Personal financial requirements

Applicants above age 50

Asset: Liquidity proof of over MYR350,000(HKD700,000)

Income: Monthly income proof of over MYR10,000(HKD20,000), or equivalent amount of monthly pension for retired applicants

N/A

Certificate of No Criminal Conviction

Certificate of No Criminal Conviction

Required

Required

Family members application

Family members application

Applicant's spouse and children can be included in the application

Applicant's spouse and children can be included in the application

Application for naturalisation

Application for naturalisation

N/A

The program offers a 10-year Residence Pass (applicant should also possess a valid passport) that accepts lifelong renewal

Fulfilling investment and residence requirements means naturalisation

Source: Centaline Immigration Consultants (HK) Limited

Outstanding health care series for peace of mind

Healthcare means a great deal to the retired, and Taiwan and Malaysia are just renowned for their medical system. Malaysia was rated No.1 in the “Best Healthcare in the World” for 3 consecutive years by International Living magazine, U.S., mainly due to her affordable medical expenses, advanced medical facilities and hospitals with recognition from the Western world and short waiting time for medical services.

Meanwhile, Taiwan also has an international-grade medical system to offer. CEOWORLD Magazine of New York placed her top at the ‘Health Care Index 2019”, where well-developed countries like Korea and Japan only came in 2nd and 3rd place. This means Taiwan excelled in health care infrastructure, medical professionals, costs, quality medicine availability, and more.

But then again, there would still be expenses no matter how advanced the medical facilities are or how easy you can get these services. Especially for the elderly who are more prone to critical illnesses, a comprehensive insurance plan that could release a lump-sum payment to cover both treatment and rehab expenses, should be considered. After all, who doesn’t want a care-free retired life

Want to understand more for a critical illness plan which applicable around the globe? You may understand more by clicking here https://bit.ly/2XQLKip.