The expat TruePDF february 2019

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ảảU> /g[ á ẫtgà -gểẫé>\ Ưẵ wlẵ THE EXPAT EXPATGO.COM •7 mm2h Malaysia My Second Home Programme T he Malaysia My Second Home (MM2H) programme has proven to be a popular initiative by the Malaysian government Launched in 2002, the programme has attracted people from all over the world with China, Japan, Bangladesh, and the UK topping the list of nations whose citizens have been approved under the programme Altogether, some 35,000 applications have been approved in the 15 years or so since it started The government has not promoted the programme all that heavily, so people often hear about it through word of mouth It is primarily aimed at people who want to retire to Malaysia, as employment in the country is not encouraged under the programme, although it is possible to work for a local company for up to 20 hours a week with approval Applicants must show a monthly income in excess of RM10,000 (equivalent in foreign currency) and show liquid assets in excess of RM350,000 (RM500,000 if aged under 50) Upon approval, visa holders must place a fixed deposit in a local bank of RM150,000 (RM300,000 if under 50) Many people are attracted by the low cost of living, warm weather, friendly people, great food, and the fact the Malaysian government does not tax overseas income Upon approval, MM2H applicants receive a 10-year visa which is renewable 8• THE EXPAT EXPATGO.COM It should be noted that there is no requirement to buy property in Malaysia or indeed even to relocate here In fact, some applicants from troubled countries only apply so they have a place to relocate should they feel problems in their own country are getting worse The most popular places MM2H visa holders choose to live are Penang and Kuala Lumpur Other places which have attracted visa holders are Ipoh, Melaka, Sabah, and Johor 'LQLQJ LQIRUPDWLRQ P68-81 D I N I N G • S H O P P I N G • S E R V I C E S There are hundreds of companies across Malaysia that have specifically selected their products or services with expats in mind We’ve found some of the very best of these restaurants, bars, shops, and services putting in the effort so that you don’t have to! THE WESTIN KUALA LUMPUR Find the b est plac es to eat and drink in KL , visit e atdrink.my I ndep endent restaurant rev ie ws THE EXPAT EXPATGO.COM • 69 'LQLQJ 3URPRV 'LQLQJ more information at ExpatGo.com / EatDrink.my Le Méridien Kuala Lumpur: Couple’s Food Challenge Pullman Kuala Lumpur City Centre: A Blast From the Past CNY Feast Gastro Sentral is daring couple to take on the “Lady and the Tramp’s Spaghetti Meatball Challenge” that features 1.5 kg of Spaghetti Aglio Olio, 30 pieces of meatballs in homemade fresh tomato and basil sauce, a dozen garlic bread, and lots of Parmigiano-Reggiano cheese Each couple is required to complete the challenge within 30 minutes to declare victory and win the meal for free; or pay RM 158 nett per portion should they fail the challenge Patron who prefer to dine leisurely at their own pace, are welcome to order the meal at RM 180 nett for the sharing portion The “Lady and the Tramp’s Spaghetti Meatball Challenge” is available at Gastro Sentral, Le Méridien Kuala Lumpur, lobby level, from January to 31 March 2019 To enquire, call Dining Reservations at +60 2263 7434, or email dining.lmkl@lemeridien.com Pullman KLCC Hotel and Residence’s in-house restaurant, Red Chinese Cuisine, is having their first Chinese New Year celebration! Uniquely crafted traditional dishes for that festive family time together will be available from 4th January to 19th February Look forward to dishes such as double-boiled sea whelk with matsutake mushroom, stir-fried mantis shrimp,and asparagus with salted egg yolk sauce, seafood fried rice with whole abalone, and ‘Prosperity’ Yee Sang with choices of fresh salmon, tuna, scallop, and jellyfish The celebratory menus are for 10 pax, priced at RM1,388 (Spring & Happiness Set), RM1,588 (Prosperity Set), and RM1,888 (Wealth & Fortune Set) For RM 2188, a bottle of Johnnie Walker Black Label will be added to the Wealth & Fortune Set, and for RM2,888 a bottle of Hennessy X.O Cognac For reservations, call +603-2170 8888 (extn 8200) or email restaurants@pullman-klcc.com Celebrate CNY at Oakwood Hotel and Residence KL In conjunction with the coming Chinese New Year, Treat Restaurant & Bar will be offering an Oriental Set menu from 10th January until 28th February 2019, from 11am – 11pm daily The set menu consists of three Chinese and three Japanese dishes such as Salmon Teriyaki, Chicken Karaage, Vegetable Tempura, Breadcrumb Beef, Butter Prawns and Salted Egg Calamari Each order comes with miso soup, salad, steamed rice and fruits for a complete and balanced meal Tea are also available Prices are from MYR 18+ onwards Oakwood Hotel & Residence Kuala Lumpur is conveniently located on Jalan Ampang which is also known as the Embassy Row, home to many diplomatic missions and also a stone’s throw away from KLCC and Bukit Bintang areas For reservations or enquiries, please call +603-2720 3827 (DL) or email fnb.event@oakwood.com Saujana Hotel: A Valentine’s Special at Kogetsu There is no better time that Valentine’s Day to be lavished with a romantic gastronomic journey at Kogetsu, the Japanese Restaurant at The Saujana Hotel! Savour delectable main courses prepared by Chef Minami with his scrumptious Japanese rendition of Valentine’s Day meal, offering selections such as Wagyu Beef and Prawns Teppanyaki that are not to be missed! Dinner served from 6:30pm till 10:00 pm Enjoy the romantic atmosphere with your significant other at The Saujana Hotel with a scenic view of the lake The menu, priced at RM 480++ per couple uses only the finest ingredients that will be sure to enhance any Valentine’s date night! For reservations and enquiries, please call +603 7843 1234 or +603 7652 1234 THE EXPAT EXPATGO.COM • 71 'LQLQJ Meat Lovers Rejoice TEXT AND PHOTOS BY CHAD MERCHANT SAMBA BRAZILIAN STEAKHOUSE, located in the popular Avenue K, has been delighting meat lovers for about five years now, and continues to offer one of the more unique dining experiences in KL And now, Samba has taken over an adjoining space and turned into a very inviting semi-al fresco cachaỗa bar The third-oor perch at Skewer Bar @ Samba offers a nice open-air view across Jalan Ampang of KLCC and the new Four Seasons Place, just next to the mall They’ve done a superb job of making the space comfortable and pleasant, and the winsome ambiance is further bolstered by a range of terrific and attractively priced cocktails True to the name, Skewer Bar also offers bar snacks, the most interesting of which are (you guessed it) skewers of meats, seafood, and veggies which are then cooked tableside on a vertical rotisserie grill It’s a unique way of presenting tasty and enticing bites and only adds to the great vibe of this bar We eventually made our way back to the main restaurant and settled in for our feast If you’re not familiar with the churrascaria concept, various meats are cooked on long skewers on a charcoal fire rotisserie, churrasco-style, which is basically “barbeque” in Portuguese Then, the waiters, called passadores, bring the skewers to your table and serve the hot meat to you, right from the skewer It’s interactive, fun, and of course delicious! The meat and seafood selections include: black pepper chicken sausages, shrimp wrapped with beef bacon, rump steak, beef crusted with parmesan cheese, leg of lamb, calamari, chicken wings, beef ribs, sirloin steak, smoked duck breast, and more! There’s also a grilled pineapple on the skewer menu: The grill caramelises the pineapple’s sugars to a perfect, sweet crisp, which is complemented by the fruit’s tartness and a light dusting of cinnamon.You’ll definitely want to save room for this treat You might think all this tabledelivered goodness would be enough – and it is – but Samba also includes a comprehensive buffet that’s quite appealing all on its own With dozens of items both hot and chilled, and everything from sashimi, oysters, and salads to fresh fruits, vegetables, and even self-serve hand-dipped ice cream on offer, you can get just what you want to complement all your meaty mains One other thing that Samba Brazilian Steakhouse serves up, we must say, is value for money, as all the food is free-flow During the week (Sunday through Thursday), the buffet package is just RM109++ and this includes 12 types of BBQ meats, the full buffet, and soft drinks, all free flow Add just RM10 more on weekends, and that RM119++ gets you 15 different meats from the churrasco and the same buffet Soft drinks are served la carte on weekends, and Samba also offers a selection of appealing wines by the glass, too For lunch, Monday through Friday is only RM59++ which includes the buffet with some 40 items, six different types of BBQ meat, and a soft drink On Saturdays and Sundays, you can take a bit more time, as the meats offered increase to 10, and the soft drinks are free flow Weekend lunch is RM89++ Friendly staff, endless BBQ meats, and a buffet that stands nicely on its own – not to mention one of the city centre’s sweetest new cocktail bars – we think Samba Brazilian Steakhouse should be firmly on your list of places to dine soon! Location & Details Samba Brazillian Steakhouse Avenue K, 156, Jalan Ampang, Kampung Baru 50450 Kuala Lumpur Tel: +603-2181 8212 Opening Hours: Daily, 12pm to 10:30pm Find the b est plac es to eat and drink in KL , visit e atdrink.my I ndep endent restaurant rev ie ws THE EXPAT EXPATGO.COM • 73 'LQLQJ UHWUHDWE\WKHGD\DKLGGHQSHDUO LQWKHQLJKW LQ WKHQLJKW [RWLFOX[XU\UHOD[DWLRQ ,QWKHKHDUWRI6HQWXO3DUNOLHVWKLV RDVLVRIVHUHQLW\ $SODFHZKLFKJLYHV\RXDQH[RWLFOX[XU\UHOD[DWLRQ LQDULFKKHULWDJHDWPRVSKHUH6XUURXQGHGZLWK WURSLFDOEUHH]HVOXVKJUHHQHULHVDQGSDQRUDPLF YLHZVRI6HQWXO3DUN·VODNH,W·VQRWMXVWWKHEHDXW\RI WKHSDUNWKDWVXUURXQGV\RXWKHUHLVWKDWLQGHILQDEOH VSLULWXDOJUDFHVHWWOHVRQ\RXWKHPRPHQW\RXDUULYH /27  6HQWXO 3DUN-DODQ6WUDFKDQ2II-DODQ,SRK./ 7HO  ,QVWDJUDP VDPLUDE\DVLDQWHUUDFH )DFHERRNVDPLUDE\DVLDQWHUUDFH 2SHUDWLRQ+RXUV 0RQGD\a)ULGD\ QRRQWRSPOXQFK SPWRSPGLQQHU &ORVH SP 6DWXUGD\ 6XQGD\ QRRQWRSP &ORVHSP   74 • THE EXPAT EXPATGO.COM 'LQLQJ6HUYLFHV 76 • THE EXPAT EXPATGO.COM 'LQLQJ6HUYLFHV THE EXPAT EXPATGO.COM • 77 6HUYLFHV UK Domicile Do You Have An Inheritance Tax Liability? BENJAMIN FRANKLIN FAMOUSLY said there are two certainties in life: death and taxes So why don’t more people plan for them? Those of us who are UK domiciled will potentially be liable to UK inheritance tax (IHT) on our demise We each have a nil rate band (NRB) of £325,000 which is the sum our beneficiaries can inherit free of tax before IHT is applied on the excess We also have a Residential Nil Rate Band (RNRB) which applies to residential property if left to direct descendants only This is currently £125,000, increasing to £150,000 in April of this year, and the final increment to £175,000 in April of 2020 Therefore, if you currently have a house that you live/lived in worth over £125,000 to be left to direct descendants, and you have an estate worth over £450,000 (£325,000 NRB + £125,000 RNRB), you could be liable to IHT If you are UK domicile and married to a UK domicile spouse/civil partner, you can also transfer up to 100% of your NRB and RNRB to them or vice versa, with IHT only applied on the second demise Non-domicile spouses can also elect to become UK domiciled to benefit from the transfer of bands, and as a result, have IHT be due on second demise only 78 • From 6th April 2017, you’re UK domiciled if you’re a resident in the UK 15 out of the last 20 years before the relevant year You also have a domicile of origin which is acquired at birth, which is typically taken from your father, and you follow his domicile until you’re aged 16 It is possible to elect a new domicile of choice, but a number of actions are considered when determining this such as: It’s also worth noting that the RNRB is tapered for those with estates over £2m, at £1 for every £2 over, so currently you would therefore lose this allowance entirely if your estate was worth over £2,250,000 • Living there • Expressed intention to stay • Buying a house in the new country and disposing of UK property • Cutting all ties to the UK • Acquiring citizenship • Establishing a business in the new country • Registering to vote • Intention to be buried/cremated in new country So what is UK Domicile? Technically it is defined as a ‘country an individual regards as their permanent home’ I’m often correcting expats who have been residents here for a long time who were adamant they wouldn’t have an inheritance tax liability Domicile and residence are quite different, and UK domicile is very difficult to shake There are no fixed rules and it’s down to the individual to prove having acquired a new domicile For those breaching the nil rate band of £325,000, they will be subject to 40% IHT on their worldwide estate, or 36% should they leave over 10% of their taxable estate to a registered charity With such vague guidelines on whether one is UK domiciled or not, it’s always best to err on the side of caution and assume that a liability is present Even for those fortunate enough to have gained a THE EXPAT EXPATGO.COM new deemed domicile, things can always change in the future, and it’s best to this potential outcome well planned for There are numerous solutions to help mitigate your IHT liability It’s best to speak to a professional for advice and recommendations tailored to your personal circumstances I’m highly qualified in this area and would be happy to help If you’d like to arrange a non-obligatory discussion, please feel free to get in touch Written by: Sam Barrie BA(Hons) Cert CII DipPFS Sam is a UK-qualified Independent Financial Adviser and strives to raise the standards of international financial planning in Malaysia He has been based in KL since 2009 and represents Infinity Solutions Ltd in partnership with UK-based Wealth Manager - Tilney Group You may direct any inquiries to sbarrie@infinitysolutions.com or call +6017.3499 686 6HUYLFHV AIR- CONDITIONED STOR AGE / A I R - CO N D I T I O N E D A N D D E H U M I D I F I E D GENER AL STO R AGE A F F O R DA B L E A N D S E C U R E WINE STOR AGE CLIMATE- CO NTROLLED S TO R AGE FOR W INE ex t s p a ce my | 0 2 8 Chan S ow Lin | S ec tion 51A | S egambut >ĞĂƐŝŶŐ ŶƋƵŝƌŝĞƐ͗ нϲϬϯ ϮϳϮϬ ϴϯϬϬ ͬ нϲϬϭϮ ϰϰϬ ϮϲϭϬ ƐĂůĞƐΛŬĂŝƌŽƐͲƐƵŝƚĞƐ͘ĐŽŵ ǁǁǁ͘ŬĂŝƌŽƐͲƐƵŝƚĞƐ͘ĐŽŵ Žǁ ĚĞŶƐŝƚLJ x dŽƉ ƉƌŝǀĂĐLJ 80 • THE EXPAT EXPATGO.COM ... Malaysians the high cost to society of corruption and why they should be diligent in both resisting it and reporting any cases they observe THE EXPAT EXPATGO.COM •9 10 • THE EXPAT EXPATGO.COM... arrived expat? My advice to them is to make friends with the locals, and try to understand the history and character of the place I would definitely advise them to enjoy the local foods and visit the. .. and then fan out from there to discover other historic attractions, such as the Standard Chartered Bank and the HSBC building located west of the Kinta River and close to the railway station The