An Entrepreneur’s Checklist on Malaysia Immigration Options
Starting a business is challenging, and it can be even more taxing in a new country. Visas and immigration concerns consistently rank high in any non-native entrepreneur’s to-do list. The good news is that most governments streamline the process to attract foreign investment. A great example of this is Malaysia immigration options for entrepreneurs.
As a fast-emerging entrepreneurial ecosystem, Malaysia itself is welcoming to business start-ups. Governance and policies are generally favourable and, along with strong business communities, offer essential support.
Malaysian Entry Pathways
The MyGov and Immigration Department of Malaysia have many resources about Malaysia immigration options. Immigration rules in Malaysia are generally visitor friendly. From walk-in visas to homeownership residency programmes, entry pathways include:
- Single Entry Visas
- Multiple Entry Visas
- Malaysia My 2nd Home or MM2H Programme
- RP-T or Residence Pass-Talent
Foreign entrepreneurs, on the other hand, have two primary pathways to consider. Bearing in mind the differing qualification criterion, engaging solution providers offering immigration services can help forestall potential hiccups. These pathways are:
- The Professional Work Permit Visa
- The Malaysia Tech Entrepreneur Programme
An Overview and Checklist
The Professional Work Permit Visa – also known as DP10 – requires entrepreneurs to register a local company. Company registration is online via the Companies Commission of Malaysia (SSM), and you’ll need an EzBiz account. This is a necessary step prior to applying for any work visa application. The easiest option is to engage professional firms to handle all your Malaysia incorporation needs.
A few need-to-know DP10 checklist items:
- Known as Expatriate or Director Visa
- Needs a Malaysian employer and company
- Minimum paid-up capital of RM500,000
- Ideal for skilled foreign workers between 27 to 50 years old
- Initial validity of 2 years and is open for extension
- Facilitates dependent pass for immediate family
Alternatively, if you’re in the tech business, the Malaysia Tech Entrepreneur Programme (MTEP) is a better route for entrepreneurs. It offers two types of visas – i.e., PVP-MTE (Professional Visit Pass) and RP-MT (Residence Pass). The PVP-MTE has a one-year validity, making it ideal for new tech start-ups. Longer 5-year visas are available under the RP-MT for businesses with more than three years of operations.
The application process and criteria require some legwork, but briefly, an MTEP checklist includes:
- Submitting a valid certificate of good conduct
- A minimum bank account balance of RM50,000
- Company office set up at a Malaysia Digital Hub for PVP-MTE
- Only RP-MT allows for immediate family dependent pass
As we can see, several enticing Malaysia immigration options are available to entrepreneurs. The key to success is to enlist the right alliance, and that’s where 3E Accounting comes in.
3E Accounting is a proven business solution provider with an international team ready to assist the savvy entrepreneur. We offer some of the most comprehensive and competitive packages in the market, tailor-made just for the keen businessperson. To ensure a smooth and hassle-free entrepreneurial entry pathway, Contact 3E Accounting Malaysia today.