Thursday, December 30, 2010

Malaysia: Competent Expats and 10 Years Residence Pass

Recently, Malaysia's Department of Immigration has created a Residence Pass Program that will incentivize highly skilled professionals (Expatriates) who would like to live and work in Malaysia for a long term.

Malaysians who have acquired Citizenship outside Malaysia are also given the same privilege.

The Resident Pass will take effect in April 1, 2011.  Its duration is 10 Years and renewable. 

1. It is a great advantage for those who are willing to work and live in Malaysia and  collaboratively share their knowledge and expertise in the economic and professional advancement of the Country and its people.

2. Organizations that will deploy their Expatriates to Malaysia will gain advantages as well in a long term view because their expats can gain long term residency and it will eliminate few bureaucratic procedures in renewing their work permits or authorization in the country.  However, Mobility Managers must be mindful on the taxation consequences of this program.  It will be worth looking the details and its implications to both the Expat and the corporation.

3. Original Malaysians who acquired their Citizenship in other countries can get back to Malaysia under the Program which will be a great advantage. They too can share their expertise and knowledge they gained from other countries with their current Citizenship.

4. Malaysian government is looking ahead on how they can leverage fluidity of better opportunities in the future. This is through a program that will encourage professionals to remain in Malaysia to enjoy its amenities at the same time collaboratively engaging in the development, progress and advancement economically and professionally.

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