I am planning to park my money there too but could not find a way to open an account. I do not want to repatriate money back to Malaysia from my foreign derived income.

Thanks, will check it out.

Here's why some people would like to keep their money outside.

1. Diversification. It could be risk diversification. Or investment diversification, FD, Bonds, and so on.

2. Not ready to pay higher taxes in Malaysia. Would rather pay lower taxes in other jurisdictions.

3. Personal interest above every other interest. Of course, this is not a broad minded thinking ( a broad minded person would understand that helping the country is equivalent to helping oneself).


I personally think that most of our citizens love their motherland (Malaysia). It's just that they don't love the Government. It could possibly be an act of sabotage to pave the way for a new government? Not sure.

Incorporate your company in a lower tax jurisdiction.

Tax evasion from foreign investments.

Not if you are a fulltime trader.

Hi Bro, didn't see you around the forex forum for quite some time.

Regarding the taxation, you will be taxed if you are residing in Malaysia for more than 182 days (if I recall). Residing in Malaysia and actively trading through an overseas broker is not considered a foreign derived income.