How Firing a Director of a Malaysian Company Happens
Firing someone is undoubtedly tough. But, imagine having to deliver the bad news to the person who is responsible for directing and managing the company’s affairs – the DIRECTOR! Perhaps not known to many, even a company director is not exempted from such a reality if warranted. There are of course necessary steps to consider […]
Can Foreigners Register a Sole Proprietorship in Malaysia?
Foreigners cannot start unlimited companies, enterprises, sole proprietorship companies or limited liability companies, these entities are meant for Malaysian only. A foreign investor can only start a partnership or sole proprietorship business entity if they have a permanent residence status in Malaysia. Under the Company Commission of Malaysia (CCM), foreigners are only allowed to register […]
How To Open Business / Corporate Bank Account in Malaysia
In the past year, we noticed an increasing inquiry about the process of opening a corporate bank account in Malaysia. Many of these inquiries come up from first-time business owners, but there are also some who have been running their business for a few years without a proper bank account 😧😓 It’s always advisable to […]
Setting Up a Company in Malaysia: A Foreigner’s Guide
Do you know that Malaysia ranked 12 out of 190 countries in the World Bank’s Ease of Doing Business Rankings 2020? It’s relatively easy to start and operate a local firm in Malaysia. A foreigner can register a Sdn Bhd, or private Limited company in Malaysia with 100% foreign ownership. However, that company must be […]
What if Singapore and Malaysia remove the Double Tax Treaty?
Aside from the occasional fight over who has the best nasi lemak, chicken rice, football team etc, Malaysia and Singapore actually share a common goal to fight the burden of double taxation of income. The governments of the Republic of Singapore and Malaysia signed a Double Tax Treaty in 1968 and subsequently another agreement was […]
Guide to Tax Clearance for Expatriates in Malaysia
Imagine waking up one day and finding yourself in the situations below 😰 💰 Last salary withheld by the Inland Revenue Department (LHDN) 💸 A fine between RM200 and RM20,000 👮🏻 Imprisonment of up to 6 months 🚫 Prevented from leaving the country What a nightmare! If you are an expat in Malaysia, here’s an […]
Duties & Responsibilities of Directors in Malaysia
According to the Companies Act of Malaysia, a company is to have at least one director if it is a private company or at least two directors if it is a public company. For this reason, the director of a company in Malaysia is barred from resigning or vacating the position if doing so would […]
Do You Need an Employment Permit in Malaysia?
Picture this – you have set up your company in Malaysia and now, you are looking to hire the best talents from within the country and around the world 🧑🏻💼🌏 But you are worried and unsure about the country’s employment pass and work permits 😰 Do you still need to apply for a work visa […]
Want to Obtain a Business License in Malaysia? Here’s What You Need To Know
The silver lining of #Covid19 pandemic? New business opportunities! This is for those with extra time to finally pursue their business ideas or those who lost their job and decided to start a business. While some may be experts and know the A-Z of setting up a business, there are others who are literally just […]
Tax Crimes In Malaysia│What Tax Offences Should You Avoid
Are you ready for a question which will test your integrity? 🔥 Here we go – have you ever considered not paying your taxes? Perhaps you considered “forgetting” to file your taxes, or to report a lower income, or to simply overclaim the amount of tax relief you’re eligible for 😏 If you have (even […]