Employer of Record Hong Kong

 Private employers under the private sector include SSM-registered Sdn Bhd, other firms registered with SSM, government link companies or investment companies and banks approved by Bank Negara.

 If an employee has an i-Akaun account, the latter can also register his or her employees online. This method can be utilized by Malaysian citizens and non-Malaysian lawful permanent residents with both 7-digit and 12-digit identification numbers.

 You may also auto-register through the monthly contribution form (Form A). Employees will immediately be enrolled with the EPF once form A, which requires information like the MyKad number and employee’s name, is completed. Only citizens and permanent residents of Malaysia who have MyKad are affected by this.

 You will need your MyKad and the KWSP 3 form for permanent residents and Malaysian citizens. Non-Malaysian citizens must present their legitimate work visa/permit or passport, KWSP 3, and KWSP 16B forms.

 Assessing your tax obligations in Malaysia is mainly based on the nature of your charges, availability of exemptions and deductions as well as residency. Even though all companies pay a level 24% of tax rate, individuals are subject to progressive tax rates, which can be altered depending on their earnings. Recall that the overseas sales tax rarely applies, unless specific industries such as oil and gas are involved. You should consult a tax specialist who will give you personalized advice based on your specific situation.

 Expatriates holding a Category 1 and 2 Employment Pass in Malaysia are allowed to bring along dependent members of immediate family. For those who do not fall into the dependent category, a Malaysia Long Term Social Visit Passs (LTSVP) is often used as an option. This article provides a detailed overview on the objectives of an LTSVP and the procedure to obtain it from Malaysian Immigration Department Expatriates Services Division (ESD).

 Note: Spouses of Malaysians are also eligible for the Long-Term Social Visit Pass that has distinct requirements and permissions but this article is focused on expatriates and companies in Malaysia employing them.

 An LTVSP is a long-term permit which enables eligible family members of an Employment Pass holders to accompany and live with their principal in Malaysia. The validity of an Malaysia Long Term Social Visit Pass (LTVSP) lies between six months and five years, which allows for a longer period of stay for the dependents vis-a-vis the principal Employment Pass holder. This pass allows family members to stay in Malaysia for a long time, bringing together the family and helping them support expatriates during their work in the country.

 The length of an LTVSP meets the term of validity for the primary holder with an Employment Pass. On the other hand, if the passport validity for an Malaysia Long Term Social Visit Pass (LTVSP) applicant is shorter than that of a Principal Employment Visa, then the length of Malaysia Long Term Social Visit Pass (LTSVP) shall be tied to whichever date passes earlier — reflecting on both forms.

 While LTVSP renewal may be feasible, it is recommended to keep the passport of an applicant updated so that the stay in Malaysia would continue without interruptions. This makes it possible for the beneficiaries to continue enjoying benefits attached to Malaysia Long Term Social Visit Pass (LTVSP) without hiccups.

 In September 2023, the application fee for both a Malaysia Long Term Social Visit Pass (LTVSP) and a Dependent Pass is RM450 without additional charges for Immigration and processing fees. Moreover, holders of both passes are not allowed to work in Malaysia unless they apply for an Employment Pass. There is no extra treatment for an individual with a relation to an already existing Employment Pass holder; each case is considered separately.

 Copy of the Employment Pass holder’s Birth Certificate or Translated/Copied English version of the Employment Pass holder’s Spouse Birth Certificate (for Parent and Parent-in-law) certified true copy

 Affidavit / Acknowledgement letter from the embassy or consulate general of the employment pass holder on the nature of relationship (for common law spouse).

 However, original letter from the Commissioner of Oaths and confirmation letter from relevant Embassy in Malaysia with regard to the their latest status(single, unemployed and under custodian of EP holder) is required for every renewal.

 *Note: Translations need to be done either by your Respective Embassy / High Commission / Consulate General or the Malaysian Institute of Translation & Books (ITBM).

 The company or sponsor should submit the application for the applicant. To begin this process, go to the ESD portal, login into company’s ESD account (or sign up for one) and submit the application with supportive documents. In the positive case, the process of acceptance is handled in 14-21 business days.

 As mentioned above, being priced in the amount of RM450 which doesn’t include immigration and licensing fees per Long-Term Visit pass each Malaysia Long Term Social Visit Pass (LTVSP) is essential. Either an employer or an expatriate, we hope that your application procedure is smooth and you will have a wonderful experience in Malaysia. Consider using our services to improve your application experience!

 Discover the comprehensive guide below, unveiling key insights about Sdn Bhd in Malaysia. A Sendirian Berhad (Sdn Bhd) is a distinguished company type in Malaysia, offering private limited status to both Malaysians and foreigners. Delve into the intricacies and explore the possibilities with this informative resource.

 SSM is the regulatory body overseeing all corporations operating in Malaysia, including Sdn Bhd. Therefore, companies must register with the Malaysian Companies Commission (SSM) in order to legally operate within the country.

Employer of Record Hong Kong

 While the company operates as its own legal entity, this allows it to continue without any issues even in cases where founders, directors, or stockholders are not there.

 So long as the corporation has not been officially dissolved, it will continue in operation and business activities proceed without disruption by the default of founders or other stockholders, deaths or retirement on part of directors.

 As such, by being able to participate in asset transfer activities, contract arrangements, and legal cases, an Sdn Bhd company presence the power of acquisition of assets and disposal through purchase or sale, entering into contracts with other entities as well as initiations court cases against the government agencies or individuals.

 In Malaysia, shareholders of an Sdn Bhd possess the right to sell or transfer their shares to anyone as long as the buyer is financially capable of acquiring those shares.

 Being a popular corporate structure, it is cheaper to borrow from banks with lower interest rates compared to other business structures in the case of Sdn Bhd. Thus, for a bank Sdn Bhd loans are perceived as less risky compared to the other types of business.

 Payments in the form of salary, director’s fees, bonuses, dividends and any other benefits can be decided by the company owner. They also determine the amount of money that should be re-invested into the company.

 Their difference can be seen in the suffixes of their respective names – ‘Berhad’ (BHD) refers venturing into a Malaysian public limited company PLC, on the other hand, ‘Sendirian Berhad’ (SDN BHD), is used for an Malaysia Company that is private limited. A note to be taken is that; the number of shareholders in an SDN BHD firm, usually ranges from 1 to 50 while a BHD corporation can have many shareholders.

 Their difference can be seen in the suffixes of their respective names – ‘Berhad’ (BHD) refers venturing into a Malaysian public limited company PLC, on the other hand, ‘Sendirian Berhad’ (SDN BHD), is used for an Malaysia Company that is private limited. A note to be taken is that; the number of shareholders in an SDN BHD firm, usually ranges from 1 to 50 while a BHD corporation can have many shareholders.

 Another strength of BHD firms includes better sources of capital, which refer to the fact they are in a position to raise fund from being equity or debt financed publicly. Both types of company incorporation are subject to the same procedure while companies formation as SDN BHD have stricter requirements delineated in their Articles for the Association.