Sabah sarawak 200 years ago is european holiday..park since 1800 to ww2 many of them migrate to new word new zeland australia..usa .other ..1957 all out to another komanwel nation
Hi there. Yes, you are right. And easier too for those aged 50 and above. We are official licensed agency for both the S-MM2H and MM2H programs. Would be glad to share more details if you are interested, Best regards.
@@aramazmm2h I meet almost all requirements. - I am 36 years old no cash issues but I don't have kids nor medical conditions - can I still apply ? Please let me know .
Lots of US companies get theirelectronics products built in Malyasia. Especially Penang island is an export free zone with Multinationals conducting business. If you ar etechnically savvy you could be a liaiason engineer supporting several companies on a retainer basis and make a decent living yet enjoying the more relaxed life in Malyasia. Atleast thats my plan in the near future.
Mike! You really are the king! Great insight...I am based in kl and as mentioned to you previously deeply greatful to be in this fantastic country and community. Please create more videos regarding Malaysia and how to open business here...FYI I open myself a company SDN. Bhd for RM 2500. I ll try to reach you out via mail mate. Regards....and keep spreading wisdom
Hi @Maurizio Rosini, if you don't mind can you please share the lawyer/accountant who helped you to open a business? by the way, how long it took to get a business/work permit visa for you?
Question: Is there any limitation regarding for how long you can renew this Labuan director visa? Like if we need to renew this every 2 years then is it possible to do that like multiple times? Total 10 years stay after renewing every 2 years Great video btw. Thanks alot.
Does the Labuan Director Visa allow people to set up their main office in KL or Georgetown and have their Malaysian employees based in these cities? It is my understanding that you need to have some kind of "office" in Labuan with an employee working their even if you live somewhere else like KL. It is unclear whether the rest of your presence in the country can be somewhere more desirable like KL or Georgetown. Btw I agree with your assessment that Malaysia has the best quality of life for the money used to live there for three years and would love to move back. The current Belgian taxes I am paying are just comical. I am sure if you made a video on worst places to run a business Belgium would be at the top of the list.
"I am sure if you made a video on worst places to run a business Belgium would be at the top of the list." You mean before North Korea? As much as I hate high taxes, I think Belgium does not make it to the bottom of the list ;)
Haha thanks for the great idea! I could totally do a video like that! To answer your question, what you said is accurate you need to have an office and employees in Labuan. This can be arranged for you, so you don't have to actually do this yourself. Also, wages in Labuan are quite low. You can certainly live in KL, and you can have what they call ''marketing office'' with up to 4 employees. If you want more employees you need to set up another local company, or you can use contractors.
I like people who like Malaysia😊. Dear Sir, just when I did open a Construction Company in Labuan in 2020, Covid arrived, and before I could start a project I had to return to my native country. Pl guide me how to acquire a Construction project so that my dormant Company kicks off.
Thanks for all the great content Michael. Here is video idea: Ease of filing taxes while being super active in Crypto, incl Trading. Point being it is very hard to track all activities and report legally all activates across passive, active, staking, lending, mining on different protocols, wallets, exchanges, platforms.. For example I understand for us in the US could use a Roth IRA with Gemini but that only has limited tools and opportunities. If one wants to maximize opportunities and want to not track every single transaction and files taxes on it, what are the differences between San Remo, Germany, Portugal, Malaysia Caribbean, other? If one is willing to change personal Domicile and/or set up a foreign company with this as #1 criteria, and only secondly general low taxes for other passive and earned income, what is state of play today 2021. Ideally not the expensive Trust setups but rather something that works efficiently for 6 digit USD portfolios of people that are global citizens.
Perfect timing Michael on Malaysia! Now trying to find the best structure to be hired as an international ‘consultant’, working in Malaysia. Any ideas? Being a sole-representative in Malaysia, Labuan seems a little difficult with the employee requirement. So can’t wait for the next videos!
Do you think it is possible to open a company in Labuan as an “Export-Agent” for Branded and non-branded food products? More precisely Exporting product from United Kingdom to Non-EU countries where the Labuan company will work in the middle as an “Export Agent” between UK company and non-eu Buyer company. After my research from Labuan IBFC, it is written THERE ARE only 3 AREAS OF BUSINESS is allowed IN LABUAN >>1. FINANCIAL SERVICES >>2. LABUAN STRUCRURES >>3. LABUAN SERVICE PROVIDERS But I am confused because under these 3 categories they did NOT mention any "normal Trading company" !!! it is really confusing and not clear if it is possible to open a normal Trading company under “LABUAN IBC COMPANY”? your answer regarding this matter is highly appreciated.
Sir, great video ..very informative and to the point. I am really interested in forming a Labuan company. I am a self employed person doing business of sourcing products for my clients since long..want to live in malaysia
Not even labuan, may directly invest business in Sabah or Sarawak. There is huge opportunities in various industries. KL & Klang valley already at peak..
Great video. I have a unrelated general question related to tax strategy: Lets say a person (who lives in a Zero tax country) is going to enter into an investment opportunity. This will be formulised by the signing of a contract. The contract will be signed in the persons own personal name ie the person is not signing on behalf of new SPV owned by that person just for the purpose of this investment / contract. However profits from the contract are to be lodged into a new SPV and account owned by the same person. The SPV will be located in a country that has corporate taxes ie it is not a zero tax location. If the person signs the investment contract in their own personal name will the profits that are lodged into the SPV be considered almost like the person is capitalising / seeding the SPV with the profits and the SPV would therefore not have to pay corporate tax on that capitalisation money (profits of the person/contract)? Of course it is understood that if the SPV thenwent on to invest this profit/capitalisation money then any profits that come from that would be subject to corporate tax. Thanks in advance.
MY screwed themselves out of a lot of business with this 2019 legal changes. Especially the "Any income incurred from intellectual property rights is now subject to tax under the Malaysian Income Tax Act, 1967 (ITA), instead of the (LBATA). This means the new prevailing tax rate is 24 percent." will make people like perpetual travellers or people who work with info products or online courses avoid Labuan. Maybe they have a different definition but is the risk worth it?
I don't think you're quite interpreting that accurately. There's a difference between sale of digital goods and licensing/royalties. It's normal for some of these countries like Malaysia and HK to tax royalties income but sale of goods or services that are digital is not the same.
Hi there what is the scope of Foreign Languages Teaching services company in Malaysia. We are running an educational services company in China for more than 20 Years. We invite foreign languages teachers as an employee of our company and offer them on hourly basis to our clients schools. Is this business possible in Malaysia? Can we open a branch office of Our Chinese Company in Malaysia and provide the same services physically to the educational institutes in Malaysia?
@@brodyk.4734 Is it just slightly more expensive then Thailand oo did not know that then maybe Malasya is the better option ? what about Phillipines is that an option, a place where one can live ? or is it not safe there ? also dod they have stable internet and ekological foods and things like that that are high on my wish list :)
@Juls Ho i dont want to retire i wsnt to livr in a country that is safe with nice weather beaches and ok living cost and offcourse ow or non taxes for capitalgains
Why not? Becasue making a decision to move takes longer than a week. The wheels are super slow atm in Malaysian Gov offices, regardless. Once doors open again fully, they will be swamped. Rather have applications in sooner rather than later.
Lower Tax than Dubai Corporation, low maintenance fee, office rent... Bali, Bangkok, SG, Vietnam close by..... KL offers more food varieties than Dubai. I like it better KL @@OffshoreCitizen
@@OffshoreCitizen Actually to review the program for other reasons...mainly if it fit with the political and the security concerns of some in the Cabinet. They have just revised the program and made significant changes that MOST MM2H applicants in the past could not fulfil. This also applies retroactively for those already on the visa but are reapplying. Older recipients will have to fulfil the new conditions. The Gov't has really screw the pooch on this one. Some of the changes: 1) Mandatory 3 months in Malaysia. 2) Proof of RM1.5 million OFFSHORE liquid assets (~US$375,000) 3) Proof of RM40,000/month offshore salary or pension (~US$10,000/month) 4) A fixed deposit in a Malaysian bank of RM1 million (~US$250,000) + RM50,000/dependent New Fees: A) Visa pass will increase from RM90/yr. to RM500/yr. per applicant and dependent B) Processing fee of RM 5000/principal + RM2500/each dependent. This must be paid at time of submission. "The implementation of the new policy of the MM2H Program will apply to all new applications and extension applications for existing participants who have an expiring MM2H Pass" "To ensure control over MM2H participants the Ministry of Home Affairs (though Malaysian Immigration and Royal Malaysian Police) will carry out monitoring and enforcement from time to time." They have also imposed a cap on the number of total participants in the program but this is simply a "solution for a non-problem". The cap is set at 1% of the population on Malaysia. Currently there are @35,000 MM2H principals and dependents (about 55Kcumulative have entered the program but many are inactive as they have left, passed away, never renewed or are minors who have exceeded the age of dependency). So with a population of 33million the cap would be 330,000. That's ten times more than all those that are active. In addition, the Malaysian population is growing faster than the highest year off the program...so even untouched there is no way the numbers will increase to the 1% the population size. With the new terms they are likely to get, at best, a few hundred applications annually. I'd even guess in the single digits. There will also be attrition from current recipients so that the 33,000 will decline quite precipitously. One alternative is that, because the Sarawak State Government is autonomous in Immigration matters one could apply to the Sarawak MM2H...which had earlier revised it's program to actually allow agents (previously restricted) and to allow those 40-50 to apply if they purchase a property of RM600,000 (~US$150,000). Over 50 there is no property purchase requirement. In addition one can live in the Peninsula (sometimes called the "Sarawak Back Door" ) and only need stay in Sarawak for 15 days a year. Those over 30 with school-aged children can also qualify if their children enrolled in a Sarawak school. The terms of the MM2H listed above do not apply to the Sarawak Program. There is no Liquid Asset proof if you meet ONE of the following two criteria A) Income/Pension of RM7000/mo (single) or RM10,000/mo (couple)...i.e US$1700/US$2400. OR B) Established a Fixed Account in a Sarawak branch of a Malaysian Bank of RM150,000 (single) or RM300,000 (couple) = ~US$37K/US$74K. Contrast with what the MM2H is now requiring! Heres the OFFICIAL GUIDEBOOK about the program. Be sure that you only use an agent Registered in Sarawak listed on the site. All others are acting as middlemen, taking a cut, and passing the information on to the licensed guide. That means your personal information is getting into the hands of those not authorised to have it. Don't take that chance! mtac.sarawak.gov.my/page-0-179-49-Sarawak-Malaysia-My-Second-Home-Explanation-Flyer-Forms.html
Don't worry, the current government already lost majority in the parliament, and the pm will most probably step down in a few months, maybe even before the new requirements take effect in October...
@@tonythaiger93 According to the official Facebook page of the tourism minister, Malaysia had hired the global firm, KPMG, to scrutinize the MM2H, which proposed that the program should be split into two separate programs: one which is specific for retirees and another broader residence-by-investment program. I wonder these requirements are what KPMG suggested?????
