open rhb multi currency account... it can receive usd without conversion

it has good usd fd rates and usd to myr conversation rate

and please pay your taxes... don't be a tax evader... tq

edit... yours is not foreign sourced income... irb considers it local souced income, so it doesn't matter if the usd is kept overseas or local, its subject to your normal income tax


This post has been edited by dwRK: May 11 2024, 04:54 PM

on rhb side, inward receiving no fees... wire in $100, you get $100...

source company doesn't pay income tax... they may pay a withholding tax that you can claim credit for... you always have to check if the tax paid is enough or not, so to top up or claim credit...

fyi, irb has very clear guidelines on how you do your taxes for countries with and without tax treaty

exchange rate and fees sucks...

a foreign/source company will not pay your income tax... you are not employed by them... you are also not a tax resident in the foreign country so have no income tax obligations to it

as for repatriation of taxed money... it is subjected to tax if it wasn't sufficiently taxed

id prefer to live in a developed country

its all relative... and each country/locality has its own pros and cons...

ive worked in many countries... have considered migrating too... depending on job and pay, one can have very good quality of life overseas...

but if one is not eligible to immigrate, then do the best locally lor like you said...

same... i know a few went to Aus n NZ... all now back home... lol

a lot of older generations migrate overseas so the kids have cheaper schooling and better future... but younger folks who go overseas nowadays quite sure most wont come back liao...