Views of Putra Jaya, Malaysia's new capital. Image: businessinsider.com |
Malaysia
as a former British colony has the tag line "Malaysia Truly Asia" to attract foreign tourists to visit the neighbor’s
country of Singapore and Indonesia. The country is also attractive as a
business and investment destination. Infrastructure in Malaysia is ready to
welcome foreign investors such as Singapore and Indonesia or Thailand.
As a
member of ASEAN, Malaysia has a strategic position as suitable as a springboard
to distribute products to surrounding countries as well as to outside the ASEAN
region such as China, Taiwan, Korea, Japan or India.
There are more than 600,000 registered
companies in Malaysia and approximately 4000 foreign companies, majority of
them are companies limited by shares. There
are over 1,000 companies listed on Bursa Malaysia Securities Berhad. The
companies are publicly traded and public investors can buy and sell shares on
the Malaysia stock exchange. (Source: Data obtained from the Companies
Commission of Malaysia).
With the
economic potential and its geographic position, as well as the strength of
human capital available in Malaysia, then you can take advantage of the
opportunity to establish a company in this country. If you are interested, then
you need to know the terms in accordance with the laws of Malaysia. How to set up a company in Malaysia?
Foreign ownership restrictions or conditions may be changed at any time
in accordance with the policy of the Malaysian government, then you should look
for information on the Malaysian embassy in your country, or you can ask for
help with a legal representative who understands about the establishment of
overseas companies, or just looking for a lawyer business in Kuala Lumpur or
Putra Jaya, Malaysia. They must be clear about its requirements, for example
concerning the rules or the joint venture shareholding.
The cost and time to set up a company in Malaysia are as follows:
1. For Malaysian company with foreign shareholders as individuals: RM
3,200
2. For Malaysian company with a foreign company as shareholder: RM 3,800
Requirements and procedures for
establishing companies in Malaysia are as follows:
Step 1
1) To
complete company incorporation standard Application Form via email.
2)
Attached scan copy of applicant passport — At least 2 persons for directorship
and shareholders. (Directors and Shareholders can be the same people)
3) 1st
Payment RM 1,000.00 to our bank account by TT or online Credit
Card/PayPal/Phone CC charging.
Step 2
1)
Commencement of Name Search.
2)
Confirmation of Company name availability — 1 working day.
3) In the
event all Company Name provided is not available, you will be informed
immediately to provide New Company Name selection until successful name search.
4) Booking
& registration of confirmed Company name for incorporation — 2 working
days.
Step 3
1) All
Company incorporation documents will be prepared & send by email to you
within 3 working days.
2) You are
required to print out all documents 2 copies each and sign all the documents at
all relevant places.
3) Return
all hard copy documents signed to us by courier.
4) Balance
payment RM 2,200.00 to your bank account by TT or online Credit
Card/PayPal/Phone CC charging.
Step 4
1) Upon
receive of your courier, we will submit to SSM for processing.
2)
Certificate of Incorporation and Company Registration Number will be ready for
collection from SSM — 5 working days.
3) Final
completion for delivery of your company to you — 3 working days.
You also need to know the condition of
the paid up capital and authorized capital to set up a company in Malaysia, are
as follows:
Paid up Capital is the amount of money injected into
the company by the shareholders from time to time, when required for its
business and the statuses of certain capital required by the government in
relation to the company business or licensing / permit application. Paid up
Capital money once injected, belongs to the company as a separate entity and it
is NOT and CAN NOT be treated as shareholders / directors loans or advances.
Authorized capital is only a figure the limit on how
much you can increase of your Paid up Capital at your discretion for the need
of your company. It is not an amount that is financially represented in your
account. You can also from time to time increase of Authorized Capital guide to
a higher limit if your business required a bigger Paid up Capital.
Estimated
completion time of Company Incorporation will be 2-3 weeks from day of 1st
payment.
Please note: Advances/loans are funds that you can
withdraw and repay back to foreign bank account with lesser limitation. Paid up
Capital is fund belongs to the Malaysian Company, any transfer of fund to
foreign country will be subjected to scrutiny.
Work
Permits and Visa for Expatriate:
You and any of your foreign partners
once registered a fully foreign owned Malaysia company you are able to apply
for directors/professional working visa with some standard requirement. This
visa allows you to work, conduct your business and have multiple travels in/out
of Malaysia.
Upon incorporation of you company and the minimum
requirement of RM500, 000 fully Paid up Capital are fulfilled, we can assist
you to get a tenancy agreement for your business address. With the business
address you can proceed to apply through our municipal councils for a
legitimate business license.
After obtaining the
business license, you may then go directly to Immigration Department to submit
the “DP10 Application”. After the official Expatriate Committee (EC) decision on your DP10 Application is
obtained and then the DP10 approved by immigration, your work permit sticker
can be pasted on your passport.
Government of Malaysia has made very
easy procedure for the issuance of Work Permits for investors. Once your company
is incorporated with a minimum of RM 500,000 fully paid up Capital, you may
then apply for your professional visa (work permit). With the permit you will
be able to run your business operation in Malaysia.
The
good news is: If you already have a wife, then your family
can stay in Malaysia. Your wife can also follow you to Malaysia and are
permitted to seek employment by applying through the same process, so that your
wife can fill the time productively during accompany you in this country.
If
you are happy and enjoy the atmosphere in Malaysia, then you can also apply as
a Permanent Resident (PR), after 3
years upon working in Malaysia on a Professional Work Permit. But, please bear
in mind it is the sole RIGHT of the
Malaysian Government to grant PR to foreigner. No One has any influence to
change the Government's decision. For PR and Work Permit related inquiries,
always consult directly with the Immigration Department.
If
you seriously want to do business and set up a company in Malaysia, then get
the latest information on: voffice.com.my and ssm.com.my. To complete
your information about the business establishments in Malaysia, then you also
need to visit the website: yycadvisors.com. Besides, it is better if you ask a
friend or foreign entrepreneurs who have been doing business in this country,
so you get a more in-depth knowledge before you take important decisions in
your life.
2 comments
Write commentsCheap Bali Tour - Best & Cheapest Bali Tour Packages For Budget Travelers – Private Holiday Packages In Bali
ReplyWe're offering you cheap Bali tour packages from $25! Now you don't need to spend more than that on your dream holiday. Have a look and book now by Travel Ginie Tours
Replybali honeymoon packages all inclusive ,
bali honeymoon packages,
bali packages for couple,
luxury bali packages,
bali honeymoon packages from delhi,
bali vacation packages,
cheapest bali tour packages