Paid-up capital requirements for knowledge industry
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I am the Director of a small, but successful Corporate Responsibility consultancy employing 2 Malaysian staff. I am keen to expand and take on additional staff in Malaysia, but this cannot be done without my physical presence on a daily basis, to ensure that staff develop the necessary skills and knowledge. With the new paid-up capital requirement of RM500K, it is simply not feasible to apply for a work permit, so will have to expand in Singapore instead. How does this help Malaysia?
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We apologize above delay replying your email.
For information, effective 01 Jan 2009, our new policy to get approval of employment of expatriate through Expatriate Committee for the company is 100% with foreign equity was increase to RM500,000.
The policy to increase minimum paid up capital was authorized by Home Ministry. All applicants must abide the rules and regulations Expatriate commitee pertaining to the application employment of expatriate.
To find more information about Registration for foreign company, please visit http://www.ssm.com.my
