Hey guys!
Awesome forum. Lots of helpful information so thanks to all the contributors.
I've been offered a role which was initially intended to be based in Singapore but the company is relocating a large part of it's capability to KL.
I've been offered two options during our negotiations; I can either choose a Malaysian contract and be paid in Ringgit or a Singaporean contract paid in SGD.
I have chosen that I want to live in KL but can still choose between the two contracts.
The base salary is set at $300k SGD (MYR1Mil). I believe the tax difference is SGD (13%) and MYR (23%)?
Does anyone else have a Singaporean contract but lives in KL? How does it work with practical things like getting a car loan, credit cards etc?
Any pros and cons of each scenario?
All suggestions would be highly appreciated!
Thanks!
Malaysian or Singaporean Contract - be based in Kuala Lumpur
Don't choose a Malaysian Ringitt contract because of the poor exchange rate.
Thanks for the comment Gravitas.
It will be indexed against a currency of choice and adjusted each year to ensure it reflects the initial value of contract.
Having a lot of RM is pointless unless you think you may invest in Malaysian property market etc (which is rather tricky these days). The counter argument is that interest rates can be over 4% if you shop around in the Privilege Client accounts in local banks. But with a new government and uncertain times Malaysia is at a cross-roads. The EPF if offered is a good option as the interest rates have been consistently around 7%. Some employers offer split salaries which can be attractive solution.
How would it work with day to day stuff being on Singaporean salary? Would you be able to get a car loan, rent house etc?
Do they acknowledge the income in Malaysia?
Thanks again!
Articles to help you in your expat project in Malaysia
As the commercial and financial center of Southeast Asia, Malaysia attracts foreign investors from all over the ...
If you want to work in Malaysia, it is important to know the labor market and the conditions related to employment ...
Johor Bahru, Malaysia's second-largest city, is located in a strategic region that confers rapid development ...
Ipoh is the capital of the state of Perak and is often considered a quiet, medium-sized city that offers fewer ...
Subang Jaya is located in the district of Petaling in the state of Selangor, 20 minutes from downtown Kuala ...
Klang, also called Kelang, is a bustling port town located on the Klang River in the Selangor State. It is found ...
