Invest in Malaysia ICT business for easy visa and free tax facility 2022

Most investors ask for the best investment sector or global business sector in Malaysia with the best facilities, where we mostly suggest the ICT sector. We will discuss the existing information and policies regarding the ICT sector, authorities, and other sides. Also, how can we assist you in this whole process of invest in Malaysia ICT business for easy visa and free tax facility 2022. 

Let's get some background first on our terms of discussion:

• The ICT(Information and Communications Technology) sector is one of the fastest-growing sectors in the Malaysian market, contributing 19.1 percent of the country's GDP (2019) and is expected to reach 22.6 percent by 2025. Based on a report from Global Data Market Opportunity Forecasts, ICT spending in Malaysia will reach $25.2 billion by 2023. 
• MDeC (Malaysia Digital Economy Corporation) develops, coordinates, and promotes Malaysia's digital economy, information, and communications technology industry. 
• MSC (the Multimedia Super Corridor) was established by the Malaysian government to speed up the growth of the country's digital economy.

What is the eligibility to get MSC status?

1. A company (SDN BHD) incorporated under the SSM or Companies Act 2016.
2. The company must offer to carry out one or more of the MSC Malaysia promoted activities as listed in Appendix 1 of the Guidelines on MSC Malaysia Financial Incentives (Service Incentives - Income Tax Exemption).
3. Not granted by the Government of Malaysia tax exemption in respect of the income from any activity on the date of application.

Companies must have activities from the list below

1. Big date analytics (BDA).
2. Artificial intelligence (AI).
3. Financial technology (FinTech).
4. Internet of things (IOT).
5. Cybersecurity (technology/ software/ design and support).
6. Date center and cloud.
7. Blockchain.
8. Creative media technology.
9. Sharing economy platform.
10. User interface and user experience (UI/UX).
11. Integrated circuit (IC) design and embedded software.
12. 3D printing (technology/ software/ design and support).
13. Robotics (technology/ software/ design).
14. Autonomous (technology/ software/ design and support).
15. Systems/network architecture design and support.
16. Global and/or low value call center; data entry; and recruitment process outsourcing.

Benefits of MSC Status Company for Foreign Investors in Malaysia
With technology and tech-based investments as a new profitable investments, it is clear that FDI (foreign direct investment) into Malaysia will increase. MSC is an important investment attraction strategy that is contributing to Malaysia's economic growth, foreign investment inflow, job creation, and infrastructure development. Foreign investment in ICT sector increased to RM30.2bil in the first nine months of 2021 from RM14.6bil in 2020. MSC Status Companies are getting many benefits, rights, and privileges. 

Below benefits are granted by the Malaysian Government under the 10 Bills of Guarantee ("BOG") as follows:

1. World-class physical and information infrastructure.
2. Local and foreign workforce employment.
3. No restriction on company ownership.
4. Freedom to do global capital and funds sourcing for MSC Malaysia infrastructure.
5. Tax exemption and other incentives.
6. Intellectual property protection and strong cyber law.
7. Internet censorship flexibility.
8. Competitive telecommunications tariffs.
9. MSC Malaysia infrastructure contracts for companies that are willing to use MSC Malaysia as their regional hub.
10. A high-power implementation agency is provided to act as an effective one-stop solution.

Living and visa status
Also, it's very easy to get expatriate status through companies registered with MDEC or has MSC status. Foreign investors can get living or residential visas with their families to live in Malaysia and persuade their business and also recruit foreign technocrats as per their business requirements, which is much easier than in other sectors. 

With MSC Status, companies can enjoy a pioneer status ("PS"). This refers to filling tax-free on taxable statutory income or corporate tax. Such incentives are for ten years and MSC Malaysia Status approved activities only. Another benefit that attracts foreign investors is the investment tax allowance that was given to MSC Status companies. These facilities are for 100% deduction on capital qualifying expenditure that includes hardware & software, purchase or renovation of office or building, and greenery or landscape expense in Cyberjaya.

From the very beginning of MSC in 1996, Malaysia has gained a total investment of more than RM384 billion and revenue of RM588 billion and has created 184,030 high-skilled jobs through this program. Malaysia has also grown into a global digital economic power and rank in the Top 3 in the Global Service Locations Index by Kearney since 2004. Malaysian government making MSC more powerful and foreign investment-friendly day by day, that's why the ICT sector has become a powerful and profitable sector to invest in for foreign investors. 

Market status
Malaysia's small businesses are getting more successful because of the relatively strong use of digital technologies. Selling online is becoming increasingly important for Malaysia's small businesses. 63.9 percent earned more than ten percent of their revenue from online sales in 2020, up from 47.5 percent in 2019. So there is a vast opportunity for tech or ICT companies in Malaysia. We welcome companies, ICT experts, businessmen, and investors in Malaysia for better investment security and profit. 

Our assistance
We are assisting our clients and investors to incorporate companies, application process to get MSC registration, getting the status and process required documents, set up offices, getting additional licenses, reach the market for listed sectors approved my MDeC and MSC status, resourcing technical hands, audit, accounting and taxation planning, expatriate visa application assistance with MDEC, An a to z legal and professional business consultancy. With an investment budget of RM 100,000 to RM 150,000 we can assist you in setup your ICT business in Malaysia.  

•  Click to know about company registration in Malaysia.

 
Our company registration consultancy package includes:

• Company registration consultancy
• First company secretary appointment
• Company forms/super form & sections
• CTC's & chop arrangements
• Name search
• SSM charges
• Foreign directors document certification
• Printing & Filing
• Share distribution agreement
• Finding nominee director & agreement
• Prepare signboard & Premises licenses application documents
• Prepare business licenses application documents
• Registered office facility & virtual office facility
• Bank account opening charges (first bank account)
• Service charge & related services
• Business counseling, planning & setup advisory

Our advisory lines:
+60172041317 (whatsapp available) | +60108242527 (whatsapp available)
Email us for any queries:​ 
[email protected]

​Call, Email or text us & take an appointment from the website to visit our office in Malaysia.
LIM & ANI ASSOCIATES SDN BHD
Call: +60108242527 
Call: +60172041317 
Call: +603-84081680 (office landline)
Email: [email protected]
www.mbbusinessjoint.com

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