How to Start the Right Business under MM2H Program?
With effect from May 2015, MM2H center announced that MM2H participants are not allowed to actively conduct business in Malaysia with Malaysia Sdn Bhd company. [Check out the difference between MM2H Visa and Labuan International Company Visa]
Finding viable and true investment opportunities in Malaysia is really cumbersome and tedious for all foreigners in Malaysia. Being fresh to the country when everything is unknown and unfamiliar in a foreign land, it is normal to be fearful to start a business. Certain investments can be very complex with many rules and regulations to comply. Please spend sufficient time doing thorough research on the business of your interest before investing any amount as we believe failure is easy, but success rare!
Many may not be aware that your personal information in your new company set up with the Companies Commission of Malaysia is now linked to the Immigration Department. Therefore, it is vital to maintaining updated records of company and tax compliance to avoid any blacklisting, which can affect your profile in Malaysia. There are steps to follow how to start the right business for foreigners including MM2H participants and maintain your legal status under the MM2H visa.
For more information on the type of entities foreigners can have, types of business incorporation and licensing, please log on to www.malaysiabizadvisory.com. Not every business foreigners can operate in Malaysia, view the list of not permissible businesses for foreigners here!
Some burning questions you may want to know!
* Can I start my international business under MM2H Visa?
* Is my income earned overseas or international dealings subject to tax?
* How can I open the bank account for my Labuan International Company with MM2H Visa?
Feel free to contact us at [email protected] to find out more and how we can better advise you!