Residing or starting a business in Malaysia


Malaysia offers incredible points of interest to its occupants, yet in addition to enroll a for all intents and purposes tax-exempt organization that offers admittance to the Asian market.

At the point when we consider seaward organizations in Asia, the principal puts that strike a chord are Singapore and Hong Kong. In any case, notwithstanding the great standing and security of these two spots, it should likewise be noticed that they are very costly and have fewer points of interest than different purviews.

Fortunately, there is somewhere else in Asia practically identical to these initial two, it is where seaward organizations and financial balances can be opened all the more monetarily and with more prominent expense focal points. This site is covered up in Malaysia, where English is broadly utilized, and today we will discuss it.

The Asian Stranger

The spot we’re discussing is not exactly an hour from Singapore, open with Air Asia for about $ 11. These ease costs are important for the mystery of this assessment asylum. Incidentally, there is the base camp of the aircraft Air Asia, yet additionally of numerous other Asian organizations.

This duty asylum has existed for in excess of a fourth of a century, be that as it may, given the draw of Hong-Kong and Singapore, it has never been in the global spotlight. This is something that is changing, numerous affluent Asians are seeing it.

We are discussing a territory in the neighboring nation of Singapore, Malaysia, yet, in opposition to what occurs with Kuala Lumpur, the capital (city that shows up in the principal photograph of this article), it isn’t toward the northwest of this, yet toward the East.

It is a little island of around 78 thousand occupants situated before the State of Brunei, on the island of Borneo. There is the government state Labuan, a seaward monetary focus since 1990.

The most effective method to begin a business in Malaysia

Labuan is a self-ruling district inside Malaysia, which permits you extraordinary opportunity in picking your enactment, while additionally permitting you to appreciate the advantages of being essential for the State of Malaysia, including the numerous twofold tax collection shows and expense preferences for outsiders.

This permits outsiders to pay charges in Malaysia rather than in their nation of source as long as their nation has a consented to arrangement that permits it.

Obviously, for the Spanish things isn’t so natural. The twofold tax assessment concurrence with Malaysia explicitly prohibits the territory of Labuan, something that may likewise happen in concurrences with different nations. The assessment system in Labuan is actually quite favorable & Company Secretary in Malaysia.

Setting up a seaward organization in Labuan is very basic. You just need a chief and an investor, outsiders can be both simultaneously. The organization joining measure just takes a couple of days, and expenses are about $ 750 per year in charges. This is more than what you pay in Seychelles, yet additionally, the standing is better. This could have to do with the commitment to present a yearly bookkeeping report. That is, setting up a business in Malaysia won’t permit you to save money on bookkeeping.

Never pay more than $ 7,000: intriguing assessment alternatives in Labuan

Extraordinary duty favorable circumstances anticipate you at Labuan, points of interest that computerized business people should investigate, they are not influenced by the main restriction to their business action: If you need to exploit charge preferences in Labuan, you won’t have the option to complete exchanges in Malaysian nearby money, the ringgit.

Labuan offers plenty of intriguing duty alternatives or projects, choices that you can change from year to year, contingent upon the monetary snapshot of the organization.

On the off chance that you have a beginning organization, you can decide to pay a fixed pace of 3% every year. On the off chance that during the primary year you have entered $ 20,000, you just compensation $ 600. What have you entered $ 100,000? Indeed, you pay $ 3,000 in charges.

On the off chance that you run a setup organization with high benefits, you can choose to pay a survey expense of about $ 7,000 (a fixed assessment for which payment isn’t considered). From a pay of about € 234,000, it merits going from the fixed rate to capitation charges.

Furthermore, that is it. Labuan isn’t a tax exempt zone, anyway, it is as yet an assessment asylum. Air Asia and numerous other worldwide organizations pay less yearly charges in this manner than you do well at this point.

Consolidating a seaward organization in Malaysia with a seaward financial balance

Also, on the off chance that you need to have a seaward record for your business, you can open it straightforwardly on Labuan Island. There you will discover, in opposition to what occurs in the Caribbean, notable banks, for example, Deutsche Bank, Bank of America, JP Morgan or BNP Paribas, just as numerous different stores.

Accordingly, it won’t be hard for you to open your record in Labuan. Truth be told, this is the most straightforward spot to open a financial balance in Asia, simpler even than Hong Kong.

Another preferred position of Labuan has to do with the impact of Asian and Islamic culture. Banking in Islamic nations offers incredible chances, and Labuan is, alongside Dubai, one of the principal communities around the world. Here, indeed, the sharia (Islamic law) doesn’t make a difference. Labuan’s legal framework, similar to that of Malaysia, depends on British Common Law, that is, the standard of law is guaranteed.

How to get residency in Malaysia and its advantages

Residents in Malaysia have a great advantage, and that is that it has territorial taxation for its residents. This means that natural persons only pay local income taxes. Therefore, if you have a foreign company, an American LLC or an English LLP, for example, you would not pay any tax on the profits of your business.

In case you have an offshore company in Labuan, keep in mind that the benefits of this would be considered national income and therefore, on a personal level, you would have to pay taxes on the dividends received.

As you can see, Malaysia is presented as a very attractive place of residence for entrepreneurs with businesses that do not tie them anywhere, but becoming a resident there carries certain costs, so if it is not because you really want to live in that part of the world, Perhaps you prefer residencies in the Emirates, Paraguay or Panama, to name a few (if you want to know all the countries to which to emigrate, you can purchase the Encyclopedia for the Tax-Free Emigrant here ).

Malaysia issues a multi-entry visa to the country for 10 years at a cost of around 80,000 EUR, either as a bank deposit with the National Bank of Malaysia or as an investment. It is true that this generates interest, but not too much.

Aside from this, you should have an evident month to month pay of in any event 2,500 EUR. As to, their annuity should likewise meet certain prerequisites and on account of those more than 50, they just need a store of 40,000 EUR.

The 80,000 EUR must be kept in the bank while the visa is substantial. Despite the fact that you can have up to half of that add up to meet certain costs, for example, the training of the youngsters, costs for clinical or different reasons.

Can any anyone explain why numerous individuals actually pick Malaysia? Definitely, for its high caliber of life. Malaysia is an exceptionally famous territory among advanced travelers, both in Kuala Lumpur, Penang, Langkawi, and numerous different spots in the nation.

Malaysia is generally Western. It is an Islamic nation, however, it has a long custom of Anglo-Saxon law. With the visa you can gain property and appreciate different advantages, for example, bringing in your vehicle tax-exempt, or in any event, carrying your representatives to Malaysia.

Like the greater part of the other intriguing nations, Malaysia has a regional tax assessment, which implies that unfamiliar pay here isn’t burdened.

The way that the visa is just substantial for a very long time is an inconvenience, and despite the fact that it tends to be expanded, it isn’t at all a lasting home license, also that the cycle to get it is very costly and monotonous. This visa program is called MM2H ( My Malaysian Second Home Visa, ‘My subsequent living arrangement visa in Malaysia’).

There are different approaches to get a home grant in Malaysia, consistently with cash. Hence, the most famous and simplest approach to get residency is known as the Technology Visa (Tech Visa), which is allowed by making an innovation business in Malaysia.

Another chance is the Labuan visa. Labuan is an island in the seaward region and you can acquire this sort of visa by setting up an organization there, which will be burdened every year at a pace of 3% or 7,000 USD.

When you make this organization, you will get a restricted home license, however, this carries with it more conditions, specifically: you should utilize said organization and in the event of disseminating benefits from that point, recollect that public pay will be burdened.

The MM2H visa, along these lines, is commonly suggested, as it permits you to make an organization anyplace on the planet adjusted to your business.

summing up

As should be obvious, Malaysia is an exceptionally fascinating objective for individuals who need to live or set up a seaward organization in Asia. The organization in Labuan has numerous preferences, both from the business perspective, just as monetary and monetary: it offers you a basic section to the Asian and global market, few charges and financial balances for all preferences and requirements. R staff residence in Malaysia you can live liberated from your unfamiliar personal assessments.

In the event that you are considering opening your organization in Asia, or are searching for a duty home that doesn’t expect you to pay charges on your unfamiliar pay, you should consider the open doors Malaysia offers you. Regardless, prior to settling on an ultimate choice, you may initially need to explain your questions with an individual conference or read more in our Encyclopedia for the Tax-Free Emigrant pretty much all the intriguing objections for the individuals who need to carry on with a more liberated life.

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Thriving Business in COVID-19 Pandemic


Thriving business in COVID-19 pandemic

Ever since Covid-19 pandemic has stuck the earth, the world went to a great deal of jeopardy.  The pandemic has already claimed millions of lives. Businesses that possibly would generate billions and trillion dollars of revenue are now at the halt and in uncertainty. World economy is in great turmoil. When such crisis is overpowering everything, some have managed to put successful efforts to survive and even thrive during Covid-19 crisis. Few have recently put their statements clear and that is thriving business in covid-19 pandemic is very much possible. Through this piece of article we will try to evaluate how these ingenious entrepreneurs have managed to run forward with their business even during Corona virus pandemic.

Establishing an effective remote work environment

When lockdown was ruled in the early months of 2020 in various nations, most of the local and international companies were not ready to deal with this scenario. As a result majority businesses went into total shutdown. Company owners started to look up for the best possible ways to carry out company activities during this critical environment.

They therefore had only one option in hand to survive with the business and that is digitizing their business activities. Very soon they have realized the effectiveness of remote working process. Many companies especially tech based companies went totally remote as soon as office activities are concerned. Such initiative although sounded difficult and not fully effective, but condition such as COVID pandemic demanded such drastic measures which can keep workers safe at the same time keep the business running.

Online consultancy

When world pandemic took away all social freedom, all business decided to rely on digital platform to keep the economy keep running.  Consultancy fields also took this tip into considerations and decided to run their business through online. When physical offices are all shut down, owners and entrepreneurs equipped to provide online consultancies to their clients. Person to person or business to business consultancy on various professional fields have increased quite a folds during this lockdown era. 

This also proved a fact that; lockdown due to COVID-19 may limited the freedom of movements and real life collaborations, but the demands for expertise and experiences always pays off no matter what the situation turn out to be. With that in mind, online consultancy eventually emerged out to be one of the prospective business sectors that showed opportunities before many business initiators when most of others are struggling to pull up all their losses.

E commerce business

When most of the commercial giants are falling apart, ecommerce businesses seems to be moving on a different track. With the ever increasing demands of regular items among people locked up in their own house, ecommerce sites seem to be the only convenient and safer option to deliver their daily needs. From regular groceries to vital medications, ecommerce platform has the reputations to narrow down the distance between you and the market. Moreover, this is the most optimal way to order and get products without even moving your foot out of the house. 

Ecommerce business is one of the fast thriving businesses in covid-19. This is not only facilitating consumers, but also putting a great contribution at manufacturers and suppliers level.  When other supply chains are at stake, ecommerce businesses are helping not only consumers by sending their demands at their doorsteps, but also helping out, farmers, manufacturers, goods transporters, delivery personnel and many more in between the whole process to sustain during this critical pandemic scenario.

Online tutorial services

When schools, colleges, universities and other educational institutes are shutdown, some ingenious business initiators use this condition to their own benefit. How is that? These wise entrepreneurs came up with online tutorial services. Online social websites such as Facebook, YouTube are their main platforms. These services undertake various academic and professional skill development courses as a result interested viewers and pupils subscribe and pay for premium modules.

Other advantage of making of such tutorial videos are that these doesn’t take a whole lot of resources and office spaces but just only basic smart phone or camera equipments and a small space at the corner of the living room.  All these tutorials demand are expertise and firm skills. If a tutorial maker is well aware of the skill sets and have minimum equipments, he/she can think of uploading these tutorials for target clients and expect a thriving business out of this sector even in this covid-19 pandemic period.

Online customer support

Sectors related to the online customer support seem to be a thriving business in present pandemic. Whether health support, or seek for urgent support of law and enforcements, the online customer support agencies are at high demand now. Many nations come up with national online customer support help desks to deal with Covid patients as well as general patients. Most of these online based support hubs are responsibly linking patients with medical personnel and some of these services are even providing clients with free or on demand advices as well as emergency help services. 

Additional advices

Thriving business in Covid-19 pandemic is difficult. Not all businesses have the opportunity to do well during this lockdown period. People however, slowly started to come out from their cocoons and scientist are putting their day and nights I one line to come out from a stable remedy from this disease.

Nevertheless, this is a slow process and you can expect longer time before you can finally come out with all confidence to start the venture once again in the face of earth. Till that time all we can do is wait and rely on ideas that can sustain our business in this critical period of time. If not thrive, at least we should try to make sure that this pandemic doesn’t take completely ruin our businesses once and for all. Covid-19 must not take away the very essence and spirit of our life or else, starting businesses all over again right after pandemic ends will be a matter of impossibility.

Articles might help you:

COVID-19 affects on businesses – How to overcome?

How to save my business during COVID-19?

Ways to make money during COVID-19 crisis

Things you should know before you visit in Brazil


Things you should know before you visit in Brazil

Brazil is officially known as the Federative Republic of Brazil.  It is the largest country in South America also known as Latin America. Brazil has a land measurement of 8.5 million square kilometer and has the population of 208 million people. The country is the 5th largest country in the world and also has the 5th largest population in the world. The language widely spoken in Brazil is Portuguese which is the national language of this country. This article describes about Brazilian tourism, which seemed to have a great demand in this fabulous and vibrant Latin nation.

Brazil is the country which has the most diverse and multicultural impact due to the settlement of immigrant majorities, who came from various parts of the world. Various cultural mix have occurred in this part of the earth. Settlers came from various different countries such as; Italy, Spain, Germany, Austria, Syria, Lebanon, Armenia, Japan, China, Korea, Greece, Poland, Helvetia, Ukraine and Russia. These countries have played a very strong role for the country’s religion, music, food and other perspectives.

The diversity and cultural background influenced tourism culture in Brazil. This country offers many celebrations and festivals which is renowned around the world. This eventually aggravated Brazilian tourism. Some of the festivals known and famous are Brazilian Carnival and Bumba Meu Boi. Every year millions of tourist expats come in this country to witness vibrant and colorful culture and landscapes. Over 1 million tourist visits Brazil every year.

Brazil tourism

Tourism in Brazil is a flourishing sector and an important sector for the growth of the country’s economy. The country had 6.36 tourist in the year 2015 which made it a top-ranking tourist destination. The revenues from international tourist was increased up to US$5.8 billion in 2015. Due to this revenue from tourism in Brazil, the country has recovered its economic crises which remained from 2008 to 2009.

The country has both international and domestic segments in Brazilian tourism sector, which has various facilities to offer, such as beach and resort loitering, adventure travel, tour package to cultural and historical places, and most popularly amazon rainforest, Northern-east region dunes and beaches, Rio de Janeiro and Santa Catarina, Sao Paulo city for business trips and Santa Catarina cultural and historical visit.

Brazil is ranked 28th in the world for tourism and it is ranked 3rd in America after Canada and USA (United States of America). Brazil’s main tourism success is due to its natural resources. The country is ranked 23rd for its cultural resources and historical heritages.

Countries where most tourists come to visit Brazil are; Argentina, Uruguay, Paraguay, Bolivia, Peru, Ecuador, Colombia, Venezuela, Costa Rica, Mexico, Cuba, Dominican Republic, the United States, Canada, China, South Korea, Japan, Australia, Chile, Spain, Italy, France, Germany, the United Kingdom, Greece, Ireland, the Netherlands, Belgium, Switzerland, Portugal, and Russia.

International tourism in brazil

According to the international tourism in Brazil, it is recorded that the tourism rate has been highly increasing in this country after 2000, especially during 2004-2005. But there was a significant down fall in between the year 2006-2007, where the international expats got reduced. Though there was a downfall, there remained a continuous increase in overall economic revenue from the Brazilian tourism sector. There was an increase from USD 3.9 billion to USD 4.9 billion.

Some of scenic destination recommended by international tourists in Brazil are as follows;

  • Rio de Janeiro
  • Sao Paulo
  • Foz do Iguacu
  • Salvador
  • Brasilia
  • Porto Alegre
  • Buzios
  • Manaus
  • Florianopolis
  • Fortaleza
  • Belo Horizonte
  • Curitiba
  • Natal
  • Recife
  • Campinas

Domestic tourism in brazil

Domestic tourism is a key market segment in the country’s tourism industry. There was a record that in 2005, over 51 million Brazilian nationals carried out domestic tours in the country, although this count was much lesser than the international tourism.

The top tourism places where the revenue is highly earned are Sao Paulo and Bahia.

Places and regions tourists prefer to visit in brazil

Salvador: It is the capital of Bahia state which is situated in the middle of Afro-Brazilian culture. This place is one of the most visited places by both international and domestic tourists

Fortaleza: It is the capital of Ceara, the state in Brazil where it is visited for most Business tours and also visited for leisure purposes for its magnificent beaches.

Iguaza Falls, Parana: It is situated in Brazil near Argentina Border. It is the 2nd most visited place in Brazil among international tourist for the purpose of pleasure visit.

Sao Paulo: In Brazil it is the financial capital. It is one of the most recommended places among tourism since the city has different cultures and races

Ouro Preto: It is the colonial city in the country and a World Heritage Site. It is one of the most famous places in Minas Gerais.

Visit historical place during tour in Brazil

GEOPARK PALEORROTA: It is an important historical tourist destination in Rio Grande do Sul. It is one of the most important places in Brazil.

METROPOLITAN PORTO ALEGRE: In this region there are 5 museums to be visited.

PALEORROTO GEOPARK: In this region there are 7 museums to be visited.

Other recommended paleontological tourism places are Palaeobotanic Garden in Mata and the Paleontological Sites of Santa Maria to be visited.

Tourist visa in brazil

Receiving a tourist visa from Brazil is not so complex but it takes prolong time to receive the visa in hand. There are some countries which are exempted for more complex formalities and requirements. Such countries are; Andorra, Argentina, Austria, Bahamas, Barbados, Belarus, Belgium, Bolivia, Bulgaria, Czech Republic, Chile, Colombia, Costa Rica, Croatia, Denmark, Ecuador, Finland, France, Germany, Greece, Guatemala, Guyana, Hong Kong, Hungary, Iceland, Ireland, Israel, Italy, Liechtenstein, Lithuania, Luxembourg, Macau, Malaysia, Malta, Mexico, Monaco, Namibia, Netherlands, New Zealand, Norway, Panama, Paraguay, Peru, Philippines, Poland, Portugal, Romania, Russia, San Marino, Singapore, Slovakia, Slovenia, South Africa, South Korea, Spain, Surinam, Sweden, Switzerland, Thailand, Trinidad & Tobago, Turkey, Ukraine, United Kingdom, Uruguay, Vatican City and Venezuela.

Questionnaire

How famous is tourism in Brazil?

Brazil is the most popular place in the world where people around the world come to visit. Where over 1 million people visit the country.

Does Brazil depend on tourism sector for its economy?

Yes! In fact, between 2006-2007 the country was able to recover its economy due to the tourism sector

What is the tourism rank in Brazil?

It is placed 28th among the whole world and 3rd in America

Is it hard to get a tourism visa in Brazil?

No, it is nit hard but the process is long.

In the country’s tourism sector, is international tourism only considered?

No, in fact the country’s tourism sector receives more profit from the domestic sector.

Working Holiday Visa New Zealand


Working Holiday Visa New Zealand

New Zealand, lovingly named as the ‘land of the white cloud’ by its early inhabitants, the Maoris is a wonderful place to visit. The country’s spectacular landscape is world-famous. So much so that New Zealand is a country where some major Hollywood movies were filmed. The Hobbit trilogy, Lord of the Rings, Vertical Limit are some of those. Whilst New Zealand is a traveler’s delight, some may find it a tad bit more expensive than other countries.

Hence, the country offers the “Working Holiday Visa” to those who can work in New Zealand during their holiday. The working holiday visa enables an individual to work in the country and he/she can use it to explore the marvels of New Zealand. But you must be aware that the income generated through this is not going to satisfy your needs to be rich. Instead, it will help you cover some of your expenses during the stay and you will also be able to mingle with the Locals better.

New Zealand is a country located in the southwestern Pacific Ocean. There are two main Islands, North & South. There are also about 600 small surrounding islands. The population of the country is 4.78 million as of 2019 and the capital city is Wellington. Moderate rainfalls and ample sunshine throughout the year makes the country have a mild temperature. The North Island has subtropical weather, while the south tends to become cold at -10C during winter. The country has two main geographical features; Mountain & sea.

New Zealand is a must-see for any traveler. Not only is it picturesque, but you can also attend many activities during your stay.

A working holiday visa is a type of visa the country offers to young travelers. You have to be between the ages of 18-30 years to be eligible for this visa. You can stay for up to one year in the country. Though for those who hold passports of the United Kingdom, Canada, the age limit is 18-35 years & the validity can go up to 23 months. You may need a medical certificate to extend your stay. Young travelers with a limited budget, find this visa scheme extremely useful. Not only do you get to explore a wonderful country, but you also don’t have the pressure of having enough funds to apply for it. But there are some criteria you need to fulfill to get this visa.

  • You have to be between the age limit
  • You must have enough funds to buy a return Air Ticket
  • Your passport must have 3 months validity from the intended day of departure from New Zealand
  • Your intention must be to travel & working must be a second option
  • You must meet the standards of Health and Character
  • You must convince the authorities that you do not pose any threat to the locals etc.
  • You must have not qualified for the working holiday visa scheme before

You may apply for New Zealand working holiday visa online. Visit New Zealand Immigration to submit your application. The visa cost NZ$245 except for applicants from the USA. Upon submitting application & payment it will take 14 days or less for you to get your visa.

New Zealand experiences the four seasons spring, summer, autumn & winter throughout the year. Depending on the climate and activities you want to do, you may either opt to go to the north or south islands. Both islands experience heavy snowfall during winter months from June to August. This period allows you to enjoy skiing & also indulge in picturesque vistas on snow-capped mountains. Or you can laze in the seashores during the months of summer. Summertime falls from December to April & is the busiest period for tourism.

The approved visa has a validity of 12 months. You must travel before it expires. Once you land in New Zealand you can live under this visa scheme for 12 months. Though some countries can extend their stay up to 23 months.

Once you have your visa, you can proceed to buy the air ticket. Then, you must apply for a Travel Insurance & international driver’s license. Even though New Zealand public transport is cheap and efficient, you might want to have your Drivers Permit just in case.

When you land in the country, there are a few steps you need to care of:

  • Set up a Bank Account
  • Registering at the IRD (Inland Revenue Department) for Tax
  • Find accommodation
  • Buy Sim card
  • Job search & advise
  • Travel advises
  • Internet access

If you are a first-time traveler you should go through a ‘working holiday program’. As the Working Holiday Visa gains popularity, many companies offer this program to help you set up as soon as you land in the country. All of the above tasks will be taken care of by them. Of course, you have the option of doing it yourself. But, considering the time and expenses, following a program will benefit you.

Before you start your job search you must have filed for Tax, found suitable lodging, bought a SIM card & prepared a suitable CV.

This is why sufficient fund is necessary to sustain until you land in a job. A bank balance of NZ$ 2000- NZ$4000 will suffice.

The minimum wage in New Zealand is NZ$17.70 per hour. After-tax deductions, you will get a lesser amount. But no employer is allowed to pay you lesser than this.

What are the jobs you can do while on the working holiday visa?

There are many jobs you can do during your time in New Zealand. As it is a famous tourist destination, there are many opportunities throughout the year.

  • Fruit picking
  • Ski instructor
  • Helper in a Café or restaurant
  • Chef
  • Cleaner
  • Fund-raising jobs

Can I study under a working holiday visa in New Zealand?

Yes, you can study for up to 6 months under this visa. To study for more than 6 months you must get a student visa.

Top ten products India imports from Malaysia


Top ten products India imports from Malaysia

Below are the product list that’s imports form Malaysia to India:

  • Crude petroleum and oils from bituminous minerals (of an estimated value of $2,219.12M)
  • Refined petroleum and oils (of an estimated value of $2,320.97M)
  • Rough wood (bark and sapwood) (of an estimated value of $467.30M)
  • Electric equipment (monitors and projectors) (of an estimated value of $315.05M)
  • Prepared petroleum and oils from bituminous minerals (of an estimated value of $145.23M)
  • Halides, peroxides etc. (of an estimated value of $132.38M)
  • Acrylic alcohols and derivatives (of an estimated value of $63.07M)
  • Telephones and other cellular device sets (of an estimated value of $172.96M)
  • Electronic machine accessories (of an estimated value of $50.22M)
  • Ferrous waste and scrap material. (of an estimated value of $85.62M)

In light of recent events, the two countries have started to deteriorate in terms of friendly relations. This is due to the political tensions between India and Kashmir in 2019. Malaysia has since limited its imports to India. Especially in the case of palm oil and palm oil products. Moreover, in retaliation, the Indian government also began to tax such products. Thus, causing both sides to drastically reduce their business activities. However, the countries are now working towards a solution. As such, in recent months have seen an improvement.

Thus, if you are a foreign national interested in a business related to importing products from Malaysia, the process can be simple. In order to begin importing goods from Malaysia to India or vice versa, you will need an import license from Malaysia. This can be obtained via the following procedure:

Step 1- Registration with the Companies Commission of Malaysia

The first step is to ensure that you have a valid license from the Companies commission of Malaysia. Once you have received this license you may move on to the next step.

Step 2- Applying for an import license from MITI

Next, you will need to submit a request for an application from MITI- that is, The Ministry of International Trade and Industry of Malaysia. To do so, you will need to prepare the following documents:

  • JK69 (The Customs Form)
  • The Memorandum and Articles of Association of your company
  • The Form 24- (information of all your shareholders)
  • The Form 49- (Information of all directors, managers and secretaries of your company)

Step 3- Submitting the application

Once you have gathered the required documents, you may submit the application. This will have to be done in person at any of the MITI offices around the country.

Step 4- Post receiving license

Once you receive the license, do note that you will be asked to present the following to customs for all transactions. The documents required are as follows:

  • The commercial invoice
  • Certificate of origin
  • Bill of lading
  • Customs declaration for exports/imports
  • Packing list

Related Article:

How to get started with a small export business in Malaysia

Main exports Imports products of Malaysia

About Import License in Malaysia

Sugar import in Malaysia

10 Small Business Opportunities In Malaysia


Do you want to start a business in Malaysia? And searching for the best business investment opportunities in Malaysia? Here in this post, we put a list of chosen 10 small business ideas in Malaysia.

10 Small Business Opportunities In Malaysia

Malaysia is a southeast Asian country. The country is a highly open, upper-middle income economy. The country’s economy into higher value-added activities in both industry and services. In addition, the country is a leading exporter of electrical appliances, electronic parts and components, palm oil, and natural gas.

Manufacturing has a large influence on the country’s economy, accounting for over 40% of the GDP. The 2016 edition of the World Bank’s ‘Ease of doing business’ report ranks Malaysia at 18 in the world, and the second in SE Asia – behind Singapore.

In addition, the government is moving towards a more business-friendly environment by setting up a special task force to facilitate business called PEMUDAH. The objective of the scheme is to simplify the business environment in the country. So this is the right time to start a business venture in Malaysia.

List of 10 Small Business Ideas In Malaysia

1.. Amusement Park

Tourism is an important industry in Malaysia. The country attracts thousands of domestic and foreign visitors every year. So, starting an amusement park is a very promising business in the country. However, the business demands strategic planning and substantial capital investment.

2. Automobile

Malaysia’s automotive industry is very promising. In addition, the country is the 22nd largest automotive manufacturer in the world. The immense growth in the automobile industry creates enormous opportunities for small business entrepreneurs

3. Computer Related

Malaysia is an excellent country for computer-related businesses. There are several options in this sector. You can start small scale assembling business or can initiate retail business. Furthermore, there are several computer-related opportunities you can start at home

4. Consulting Services

Rendering professional consulting services is another promising opportunity in the country. In addition, you can start this business from home. However, you must have adequate knowledge and experience about the specific subject

5. Electrical & Electronics

The electrical & electronics (E&E) industry is the leading sector in Malaysia’s manufacturing sector, contributing significantly to the country’s exports. And some of the major products are mobile devices, storage devices,

6. Oil & Gas

Oil and gas are the promising industry of the country. Furthermore, it is an exporter of petroleum products and natural gas. So you can start a business in this industry. There is several business opportunities as small and medium scale basis.

7. Real Estate

Malaysia’s real estate market is growing. And Govt. is taking several initiatives. To make home-buying possible for people on low and medium incomes and young people, in July 2011 the Malaysia People’s Housing (PR1MA) Bill 2011 was launched. You can start a real estate business in the country in various ways.

8. Rubber Plantation

Rubber is one of the important natural products in the country. In addition, agricultural activity plays an important role in the country’s economy. Furthermore, rubber plantation is profitable and gives lucrative profit to the farm owners.

9. Tourism

Tourism is a huge sector of the Malaysian economy. United Nations World Tourism Organisation (UNWTO) listed Malaysia as the 10th most visited country in 2012. Malaysia is rich with diverse natural attractions. And the country becomes an asset to the country’s tourism industry.

  1. Transportation

Transportation is another thriving sector in the country. Furthermore, it offers different small and medium scale business opportunities to the entrepreneurs. However, strategic planning and right promotion are important to get long-term success in the industry.

This is a country full of business opportunity. In addition, the country provides a full business-friendly environment for startup entrepreneurs. Furthermore, it is the best place to start a business for foreigners also.

5 Successful Tips of Doing Business with Overseas Manufacturers


5 Successful Tips of Doing Business with Overseas Manufacturers

When running a company, at some point you might consider doing business with overseas manufacturers. It is with no doubt, a milestone for a company, but at the same time tricky. You may ask why it’s tricky to conduct deals with foreign manufacturers, they supposed to be more reliable and, in every sense, it is the right choice for a business boost. Basically, doing business with foreign partners is a try and error procedures. You might learn something from mistakes and wrong dealings with wrong partners, or you might find success in your first attempt only. However, there are few tricks and tips to minimize such uncertain gamble. Through years of experiences and encountering mistakes, we have come up with several tips that can lead you to the way of doing trade with overseas manufacturers.

1. Verify the foreign manufacturer company

The first step is to verify the manufacturing company you want to work with. An experienced, well-known company is always safer to work with. Such companies keep the quality of the work and partnership integrity intact and often focus on business prospective which is beneficial for both parties. If the manufacturer ignores your request for providing credentials and references, it’s wise to pass the option of working with that particular company.

Suppose the manufacturer gave you the response up to the required expectation, you may consider proceeding with the negotiation of the business process and monitory aspects. If you think the manufacturer and your company can be able to meet each other’s expectations, proceed forward with a partnership agreement. That leaves you with the summary that, verifying a foreign manufacturer is the very first thing you should carry out before hoping into the field doing trades with a foreign company.

2. Conduct Online tour of the production facility

Use of modern technology in the field of communication made remote business partnership process much convenient. Using video sharing applications such as Skype, Viber, etc. revolutionized any types of business communication processes. Make full use of this facility when partnering with foreign manufacturers. Ask them for regular communication over skypes and request for scheduled live video tours of the production facility.

3. A third-party company to manage foreign partners

Consider hiring a third-party sourcing company that can keep up the relationship with the foreign partner on behalf of you. The company will keep the contact regarding prices, quality, work progress, scheduled delivery, and other relevant conversations alive between two parties. These media in-between usually create an overview of all the production goods and cost-related negotiations with the manufacturer, but it is often worth it with a smoother communication process. Such deployment of sourcing company saves time, and provide assurance that the final produced goods meet the expectation at its best level. Such a third-party company is usually available in a native country. Although various overseas sourcing company has its headquarter or office in Asia or other countries.

4. A face to face meeting with foreign manufacturer

Gear up yourself and your company representative, because at this point you need to face your overseas partner in real. Once your products are in the mass manufacturing process, you may need to conduct a face to face meeting with your partner. Consider a trip to the country your partner company is located. A practical factory visits while productions are in progress is necessary to keep up with the quality. It is also useful when keeping further market analysis as well as keep a close watch with the delegates of your partnering company.

5. Keep backup manufacturers onboard

A good strategy of doing business with overseas partners is keeping backup companies aside. You never know what disappointment or distress in business may arise while doing business with a current foreign company. For instance, your current foreign partner may fail to deliver you the quality your clients are expecting, or they might have missed the shipment schedule. Even it might be getting impossible to continue working with the current overseas manufacturer for several inconsistencies or breaks of agreements. Such a drawback always demands immediate switch to the new foreign manufacturer, in order to keep the production line flawless and uninterrupted. At the end, partnership with overseas manufacturer can sometimes be challenging, Nevertheless, choosing the right manufacturer from countries that provides cost-efficient labors and raw materials may result in a viable solution for meeting big contracts. Once you are successful in building a relationship with the right overseas manufacturing company, you can have a long-term advantage in the market which can eventually be able to help your company prosper. 

Services we provide for foreign nationals living in Qatar


Services we provide for foreign nationals living in Qatar

Qatar or the State of Qatar is a middle eastern country in Asia. Occupying the Qatar peninsular, the country has a small population of 2.6 million people. Out of this, most of the population is comprised of expatriates.

Qatar is an ideal location for you to either set up your own business or to apply for employment. As of 2017, Qatar enjoys the title of having the highest income per capita in the world. It is also ranked as one of the world’s top countries in terms of Human Development. Moreover, with its state-of-the-art urban structure and highly advanced technology, you will never run out of opportunities in Qatar.

If you wish to set up a business in Qatar or seek employment in Qatar but are feeling apprehensive about the process, simply contact us here at S & F Consulting. As officially registered agents in Qatar, we pride ourselves on being able to provide you, the customer a completely fuss free journey regardless of what your venture is.

Moreover, our services do not end at company registration or employment registration. We provide a range of services for any need you, as a foreign national residing in Qatar, have. From certificate attestation to visa approval, whatever you need done, we can help you.

Below is a summarization of all the services we provide in Qatar. If you have any further questions or enquiries, do not hesitate to contact one of our friendly customer service agents. The best part is that all advice is free of charge.

Services we provide for foreign nationals living in Qatar:

Company Registration

Foreign investment in Qatar is greatly encouraged by the government. As such the incorporation process is relatively simple. Moreover, in some cases, foreign investors can also own up to 100% of their company. Furthermore, the corporate tax rate is low and thus, Qatar is the ideal location for a business registration!

We have an in-depth guide to the company registration process here.

Certificate Attestation

In Qatar, it is a part of government policy to have all your certificates attested for by the Ministry Of Foreign Affairs (MOFA) in Qatar. This attestation was established in Qatar as a means of extra precautions so that both the employer and the employee will have a higher degree of protection. Moreover, this is also done so that there is a uniform means of document verification in Qatar.

In order to fully understand the steps required to acquire a MOFA attestation for your documents, do check the in-depth guideline we have provided here.

Police Clearance Certificate

A police clearance certificate in Qatar, or PCC for short, is a is a document that attests that you (the applicant) has no criminal record and is issued by the Criminal Evidence and Information Department (CEID). In the case of the applicant having a criminal record, the certificate will list all the relevant details pertaining to the record.

If you wish to establish a company in Qatar as a foreign national, a PCC is required by law as a pre-measure.

If you wish to know more about the requirements for this process, here is an article that contains all the details to obtaining the PCC.

Computer Card Registration

A computer card in Qatar is a document that attests who the authority is in your company by way of signature. This document is mandatory for foreign company owners to issue residence permits in order to hire employees. Without this document, your company will be barred from hiring new employees.

If you would like to read an in-depth guide to the registration process of a computer card, you may look here.

No matter what you need done in Qatar, we at S & F Consulting act as registered agents for anyone that needs documents and proceedings done on their behalf. We pride ourselves on simplifying otherwise complicated legal procedures in order for you to have an easy and fulfilling journey in Qatar whether it be employment or otherwise. Therefore, do not hesitate to contact us as we believe in placing your happiness and success at the forefront.

S & F CONSULTING FIRM LIMITED ____
Address: Office 05, Floor 05, New Taif Building,, Near Muglina Health Center, Post Box : 37550, Doha – State of Qatar, Doha, Qatar
Skype: forhadhossain79
Phone: +601136901890 (Whatsapp/Direct call)
Email: qatar@sfconsultingbd.com

Sri Lanka- Import License Registration Process


How to get an import permit in Sri Lanka? What are the procedures for registering in Sri Lanka as an importer? How to start importing activity in Sri Lanka? What are the conditions for certification for import of Sri Lanka? How will the situation with the importer in Sri Lanka be found?

Sri Lanka- Import License Registration Process

This post describes the registration procedures procured by the Sri Lankan government for the import of Sri Lanka.

Those who wish to import Sri Lanka should obtain a tax identification number (TIN number / VAT number) and they need to be registered at the customs of Sri Lanka as a registered organizer.

The licensing system for importing goods in one country is the only one in all countries around the world. Detailed information on how to obtain a license for import of a country is explained in detail on this website as a separate post. Click below to read it

Import Licensing and Registration Process

This information is related to the procedures for importing import licenses in Sri Lanka. If you need to include Sri Lanka with more information on the necessary transportation and registration requirements for importing goods, please list your views below.

Necessary registration of imports in Colombia Importing the licensing process into the Hambantota process for importing Colombo. Registration Requirements for Imports in Malaysia Registration Requests for Imports into the Mediterranean in Colombia Registration is important for imports. How can I apply for import to Colombo? What licenses are required for imports to Hambantota?

What can I do to import things in Colombia? How to get an import permit in Hambantota is the process of obtaining a registration for importation in Colombia. The required process must be completed in Hambantota. The first license for import to Colombo is required. How do I get started in Hambantota? How to start an import tram in Colombia? How to import a registration for import into Hambantota Colombo.

Responsibility of a Company Secretary in Malaysia


Responsibility of a Company Secretary in Malaysia

In those days when the company’s secretaries are given light responsibilities and are seen as a loss to the company. Nowadays, secretaries have been given more responsibility and more power as they are seen as the company’s heart. He said, due to the amount of responsibility the company’s secretaries can always be moral.

What is the company secretary responsible for?

Every company registered as a private limited (SDN BDAD) is required to appoint a company secretary. The secretary of this company (also known as Corporate Secretary) is not your usual staff at the office. The role and duties of a company secretary in Malaysia are defined in the Secretary’s Committee, with which licenses are being operated and controlled by the Malaysian Company Commission.

Here the company secretary has some responsibilities.

Professionalism and skill

The company’s secretary is expected to show professional skills and skills while performing their duties and must be licensed by SSM.

Company formation and registration

When you have decided to register an organization in Malaysia, you need to connect the company’s secretary to help you complete the company’s registration process.

Maintenance of statutory registration and record books

Due to frequent contact with top management, the company’s secretary is expected to keep the manager updated on the company’s development. In addition, they are well-guaranteed statutory registrations and record books which are expected to maintain an effective internal control system.

When you have decided to register an organization in Malaysia, you need to connect the company’s secretary to help you complete the company’s registration process.

Make sure to comply with the company law

Company Secretary should ensure that the company operates all the laws and regulations governing the regulations. In addition, they can see that the law of the country has been followed.

Preparation of Resolution, Board of Directors of the Board of Directors

In the company’s board meeting, the company secretary should get. If they are not able to do this in the meeting, then they should look for the representatives to sit for them. In addition, the company’s secretary should not leave the company or its representatives in the meeting of the company, because it will endanger their duties and responsibilities for the preparation of the resolution of the company’s secretary.

The company immediately afterwards

If the company secretary is always reported to senior management and is responsible for all the activities of the company, considering the company’s secretary is always a problem, it should be reported. They should always stand for what is right without fear or grace.

Conclusion

It is clear that all the companies established in Malaysia must have at least one company secretary (corporate secretary) and the company’s secretary should be a natural person in Malaysia and a resident member and will be a licensed member of the SSM.