{"id":5459,"date":"2022-12-05T03:01:57","date_gmt":"2022-12-05T03:01:57","guid":{"rendered":"https:\/\/fareezbiz.com\/crm\/?p=5459"},"modified":"2023-08-07T04:36:10","modified_gmt":"2023-08-07T04:36:10","slug":"immigration-visa-issues-to-set-up-a-business-in-malaysia-for-foreigner","status":"publish","type":"post","link":"https:\/\/fareezbiz.com\/crm\/free-article\/immigration-visa-issues-to-set-up-a-business-in-malaysia-for-foreigner\/","title":{"rendered":"Immigration & Visa Issues to Set Up a Business in Malaysia for Foreigner"},"content":{"rendered":"\n
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Due to the rapid growth of the startup scene in Malaysia, we have been receiving plenty of queries from foreigners who wish to set up<\/strong> shop here or local startups who wish to bring in foreigners as Co-Founder<\/strong>.<\/p>\n\n\n\n

The reason for this article is that we had plenty of incidents where Foreigners have set up a Private Limited Company first (with another Company Secretary) only to realize they cannot operate their business. In such a situation here are some of the issues to set up a business in Malaysia you need to consider:<\/p>\n\n\n\n

Make an appointment with Company Secretary<\/mark><\/a> for advice and consultation<\/p>\n\n\n\n

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contact us now<\/a><\/div>\n<\/div>\n\n\n

1) SETTING UP A PRIVATE LIMITED COMPANY <\/strong><\/h2>\n\n\n

When you want to set up your Private Limited Company (Sendirian Berhad\/Sdn. Bhd.) there is no requirement for minimum paid-up capital. Yes, you heard me right\u2026 foreigners can create an RM2.00 Company.<\/p>\n\n\n\n

But here is the catch:<\/strong><\/p>\n\n\n\n

(a) If you have read our article on the minimum requirement to set up a Private Limited Company<\/a>, you will know that you need a minimum of 1 Director. For Foreigners, the requirement is that the Directors must be a resident or have a primary place of residence in Malaysia. The law however does not say you need a working visa, PR status or etc to be a Director. So all you need to show is you have a local correspondence address.<\/p>\n\n\n\n

(b) Here is where it gets a bit tricky, yes you can register as a Director but when performing your duties as a Director, the law will deem that you are working and thus you will need a working visa, business card or etc (read more about your options here<\/a> or PM me so I can introduce you to service providers that may help)<\/p>\n\n\n\n

Implication<\/strong> for performing duties as Director without proper documents:<\/p>\n\n\n\n

a)  Fine of not more than RM10,000 and\/or Imprisonment not more than 5 years and\/or whipping;<\/p>\n\n\n\n

b) Banks will refuse to set up<\/strong> bank accounts for you (unless you have a good relationship with them, depends on your luck) \u2013 Can\u2019t run a business without a bank account<\/strong>; and\/or<\/p>\n\n\n\n

c) Government Agency\/Government Link Agency will refuse to deal with you.<\/p>\n\n\n\n

As such, after setting up the company, the Director(s) should proceed to apply for a proper paper.<\/p>\n\n\n

2)REQUIREMENT FOR THE <\/strong>COMPANY WHEN APPLYING FOR A WORKING VISA\/PERMIT<\/strong><\/h2>\n\n\n

The requirements to apply working permit\/visa are as follows:<\/p>\n\n\n\n

(a) Company Eligibility Criteria:<\/p>\n\n\n\n

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  1. You need to have a private limited company (for example ABC Sdn Bhd)<\/li>\n\n\n\n
  2. Company paid up capital requirement:\n