Application qualification

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Hi Scott,

Great site you have here..

I wanted to check with the forum members regarding my situation.

Im from India, 34 married one kid. I have enough funds for the 300k deposit.

I work  for myself as a stock trader. I was wondering if I can continue to trade stock markets( India, US) online while in Malaysia, and also since the income would be from outside malaysia, would it be tax free when I bring it in.

Would a statement of trading income suffice as proof as the RM 10,000 a month requirment.

Many thanks, Hope this post is suitable for this thread.


Rgds

Anand

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hi,

Welcome to the site. I'm sure members will have some guidance for you. I think that it's a good idea to check your situation with Yvonne at Joy-Stay (mm2h@joy-stay.com) as they're very up-to-date, and they have an online "evaluator" that you can fill-in.

regards, Scott

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Anyone know the tax position on share dealings as asked by Anand? I possibly would be interested in this too.  I assume that as the income is from outside Malaysia, its non-taxable?

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As I understand it (please correct if I am wrong anyone)

If you was trading your own stocks/shares from your home in Malaysia then you would not be breaking the law and any profits you made would not be taxed (you might be taxed if you was trading Malaysian stocks and made a profit)

However

If you was trading stocks on behalf of a client then you would be working and would be breaking the law unless you obtained government permission which I imaging would not be easy

Cheers

JJ

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I think that you may find that the question is whether the trading is of a sufficient level and discipline that it constitutes a business. In theory if the business of trading is conducted in Malaysia it will be Malaysian sourced income and therefore taxable. What that means for MM2H I cannot say.
The question of whether a business is being conducted is often quite difficult to determine but I assume that one could get a ruling from the Malaysian tax office if necessary.
As usual it is an "it depends" type answer.
Good luck.

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Thousands of malaysian retail investors trade stocks locally on the Bursa. Any profit made is not regarded as "income" for tax purposes in Malaysia.

As for the specific query on trading income from overseas bourses, such "income" has an overseas origin and, by definition, is NOT liable for Malaysian income tax. Any MM2H agent will advise you that income from trading shares is not regarded as acceptable income for MM2H application purposes as it is, by definition, a trading profit not a steady income from a pension or other guaranteed source.

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Many thanks for the replies!  This does appear a good benefit with MM2H, especially as, as far as I am aware, once I am out of my home country (UK) for a certain period of time, the profits made on shares bought there are also non-taxable. (Anyone, please correct me if I’m wrong.)