Asked on 09 Nov 2018
As for all the brokerage account or investment plan, are those only open for Singaporean only?
No offence but investing using our currency should already be a decent appealing factor.
We also have MAS being the watchdog of all licensed investment options and you can trust them to do a good job.
We're also known for being an investment hub so there's opportunity to invest in the rest of the world as well. There are many more efficient markets and opportunities outside both of our countries.
Depending on various restrictions, funding requirements, and tax implications, brokerages will have different arrangements to be fulfilled to open an account for non-local residents. However, brokerage accounts and investment plans are not restricted to only Singaporeans.
I like how you use the word "migrating"
You have a few too many options at your disposal.
Get a cheap, but massively huge piece of land in MY not far from civilization, and you can build your retirement house there, about 5 years before you expect to retire.
Oh, and keep earning in SGD as long as the exchange rate permits it.
Life is good.
Cheap u.s. based broker, then the following general style possible https://seedly.sg/questions/what-is-your-general-investing-philosophy-strategy
As a Malaysian citizen, you are eligible to put money into the EPF, which is malaysia's version of CPF. You can also consider opening an SRS account and contribute money into it regularly so that you can get tax relief, and used said monies for investment purposes- Stashaway can be invested via SRS. Also, MoneyOwl and Endowus who carry the excellent Dimensional Funds are working to become SRS certified!
Some advice about a Malaysian forex broker
According to the regulatory information from LFSA(Labuna Financial Services Authority), the licensed office of MXC Group in Malaysia is at Unit Level 14 (B) & 14 (C), Main Office Tower, Financial Park Labuan Complex, Jalan Merdeka, 87000 Labuan F.T. Recently, WikiFX team visited the forex broker in Malaysia.
We saw a beautiful lobby as we arrived at the Financial Park Labuan Complex. But we couldn’t find MXC Group when we reached level 14, as 14(B)&(C) which was supposed to be the broker’s office turned out to Regus Management instead. The company staff told us that although MXC Group registered with this address, the broker’s office wasn’t here, nor did its employees work in the building.