English-Speaking Islands Where You Can Live Or Retire
On English-speaking islands you can enjoy island life with some of the familiarity of home. Visit or relocate to any...
Read more
Malaysia Facts & Figures
Facts & Figures
| Information Type | Malaysia Data |
|---|---|
| Population | 30,073,353 (July 2014 est.) |
| Gross Domestic Product PPP (GDP) | US$525 billion (2013 est.) |
| GDP Per Capita | US$17,500 (2013 est.) |
| Inflation Rate | 2.2% (2013 est.) |
| Currency | Ringgit (MYR) |
| Exchange Rate Versus U.S. Dollar | 3.58 ringgits per U.S. dollar (Feb. 10, 2015) |
| Languages | Bahasa Malaysia (official), English, Chinese, Tamil, Telugu, Malayalam, Panjabi, Thai |
| Capital | Kuala Lumpur |
| Population of Capital City | 7.2 million (metropolitan area) |
| Time Zone | GMT plus 8 |
| Seasons | Equatorial tropical: very warm, wet season year-round |
| International Dialing Code | 60 |
| Electricity | 220 to 240V / 50 Hz: Plug Type: A C G M |
| System of Government | Constitutional Monarchy |
| Current Leader | Prime Minister Najib Razak (since April 3, 2009) |
| Income Tax Rate for Residents | 0% to 26% |
| Property Tax | 6% of assessed value |
| Capital Gains Tax | No, but real property gains tax is between 5% to 10% |
| Inheritance Tax | No |
| Rental Income Tax | 22% to 28% |
| Transfer Tax | 1% to 3% |
| Sales Tax | 5% to 10%; service tax of 6% |
| Restrictions on Foreign Ownership of Property | Nonresidents are free to purchase residential and commercial |
| Local Chamber of Commerce | www.nccim.org.my Level 3, West Wing, MENARA MATRADE, Jalan Khidmat Usaha, Off Jalan Duta, 50480, Kuala Lumpur, Malaysia Tel: 603-6204 9811 Fax: 603-6204 9711 Email: enquiry@nccim.org.my |
| American Chamber of Commerce | www.amcham.com.my Suite 6-1A, Level 6 Menara CIMB Jalan Stesen Sentral 2 KL Sentral Kuala Lumpur 50470 Malaysia Tel: 603-2283-3407 |
| Primary Exports | Semiconductors and electronic equipment, petroleum, liquefied natural gas, wood, wood products, palm oil, rubber, textiles, chemicals, solar panels |
| Residency and Visa Requirements | Tourist Visa:90 days upon entry Residency:employment, dependent, student, and visit Passes; Malaysia My Second Home program grants five-year renewable visas with privileges; permanent residency requires five years of continuous living within the country Citizenship:12 years of residency, renouncement of foreign citizenship, and adequate understanding of Malay language |
| Special Benefits for Foreign Residents or Retirees | Malaysia My Second Home Program: granted five-year visa, to which a permanent visa can be applied for afterwards. Tax-free imports of home goods, tax-free import or purchase of an automobile, no income tax on pension or other overseas income |
| National Airline | Malaysia Airlines www.malaysiaairlines.com |
More Resources From Malaysia
PLACES
OTHER RESOURCES
Popular Articles
4 Lessons We Learned Renovating Rental Property Overseas
In advance of the purchase of the property known as Lahardan House, the 200-year-old Georgian manor home we bought years...
Read more4 Lessons We Learned Renovating Rental Property Overseas
In advance of the purchase of the property known as Lahardan House, the 200-year-old Georgian manor...
Read moreMalaysia Articles
The Global Nomad Lifestyle: A Journey To Personal Freedom
We've all read axioms about travel... "It's not the destination, it's the journey... " Or this from J.R.R. Tolkien: "Not all those who wander are lost... " Or this gem from Caskie Stinnett, which rings so true to me: "I travel a lot; I hate having my life disrupted by routine." Why, when choosing to retire abroad, must it be a matter of exchanging one home in one location for another in a new location? One daily routine for another?...
Read more
Download your FREE report on
The Best Places To Retire In 2023
New Year, New You, New Life Overseas