Working self employed?

Old Jan 19th 2013, 12:19 pm
  #1  
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Default Working self employed?

Hi all,

What are the rules for an expat working self employed? I see setting up a business I need something silly like 500,000 RM and/or have a Malaysian own 51% of the business.

For a small service based, self employed business that wouldn't be doable. Are there ways around it?

Cheers
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Old Jan 20th 2013, 7:03 am
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Default Re: Working self employed?

Originally Posted by theramblingman View Post
Hi all,

What are the rules for an expat working self employed? I see setting up a business I need something silly like 500,000 RM and/or have a Malaysian own 51% of the business.

For a small service based, self employed business that wouldn't be doable. Are there ways around it?

Cheers
You need to set up a company - not neccsary to actually have half a million. However, it is not as easy as you say - however 51% rule has changed.

You need proper legal advice.

Many types of work would be illegal self-employed actually. You need to tread carefully. Some do it after getting MM2H - but strictly speaking that is illegal! However as in rest of asia laws are "advisory" and "bendable" and it isn't wrong until caught
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Old Jan 20th 2013, 7:21 am
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Default Re: Working self employed?

You CAN set up a business and be MM2H. Here's a link to the government website:
http://www.mm2h.gov.my/incentive6.php

You can also work part-time under MM2H (for certain work). You can read about it on the link below. Again, it's from the government website:
http://www.mm2h.gov.my/incentive7.php
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Old Jan 20th 2013, 9:11 am
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Default Re: Working self employed?

Hi

I've gone through the process. Nemodot is right taht you don't have to 'pay' RM500,000. This just has to be the authorised capital of the company, and a friendly accountant can help you with the right documentation to show paid up status. As long as that amount is transacted on paper, as loans etc, it is fine.

You do not need a Malaysian partner either. The company can be 100% foreign owned. Also, MM2H doesn't restrict you, so you can do business no probs.

If it's IT related business you're looking at, then research MDEC and MSC statuses.

Regards
Abdul
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Old Jan 22nd 2013, 1:03 pm
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Default Re: Working self employed?

Thanks guys!! Very helpful. Looks like I need to find professional advice from the right people ;-)
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