With access to long term residency, work permits, migration possibilities & technology development grants tech entrepreneurs can establish a strong foothold in Malaysia's burgeoning tech landscape by migrating to Malaysia and leveraging Malaysia’s incentives.
Are you a tech entrepreneur dreaming of expanding your business horizons to vibrant and dynamic markets? Malaysia beckons with a plethora of incentives and support for both existing tech businesses and startups. This innovative program not only facilitates business relocation but also offers a pathway to work permits, migration and long-term residence in Malaysia, coupled with exciting opportunities for growth and innovation.
Opportunity for Migration
The Malaysia Tech Entrepreneur Program offers tech entrepreneurs the opportunity to:
start their tech business or launch their tech idea in Malaysia; or
relocate their existing tech businesses now operating abroad to Malaysia; and
set up a wholly owned (by the applicants) private limited company or a limited liability partnership;
migrate to Malaysia on a long term basis with their dependents. Malaysia provides a conducive environment for tech businesses to thrive and expand their operations.
The 3 Categories Of Eligibility
a) 1 year Professional Pass - New Entrepreneur
For founder and/or co-founder(s) with no track record of established business can apply. Startups applying for the program should demonstrate innovative ideas, scalable business models, and growth potential, aligning with Malaysia's vision of becoming a regional hub for tech entrepreneurship and innovation.
Submit an identified tech business idea (in a qualifying sector) and at least a project plan that provides a big-picture understanding of what it will take to get the job done on time and budget.
Business pitch deck that should include estimated time to complete work/sprints. Important milestones, dependencies, deadlines, and deliverables. Resources needed to accomplish each phase.
Explain the market opportunity and plans in securing funding (example: a crowdfunding pitch).
Applicant’s personal bank statement (minimum balance of US$10,000 in any recognized bank anywhere in the world).
This visa is renewable at the end of the 1st year upon demonstrably achieving reasonable milestones.
The visa does NOT allow spouses (unless the spouse is a co-founder), children or dependents to accompany the tech entrepreneur.
b) 5 year Resident Pass -Experienced Tech Entrepreneur.
For founder and/or co-founder(s) with more than 2 years track record of established tech business or qualifying tech development program (in qualifying technology sector) .
Submit details about a qualifying tech business in operation or a project plan (work in progress) of a technology development program that provides a big-picture understanding of what it will take to get the job done.
Existing tech businesses applying for relocation must demonstrate a track record of success, innovation, and financial viability, showcasing their potential to contribute to Malaysia's tech ecosystem.
In the case of a technology development project that is a work in progress, demonstrable progress in the last 2 years and estimated time to complete work/sprints. Important milestones, dependencies, deadlines, and deliverables. Please include plans in securing funding (example: a private equity placement or venture capital).
Applicant’s business or personal bank statement (minimum balance of US$10,000 in any recognized bank anywhere in the world).
Eligible for relocation / work and residency visa for 5 years and to bring dependents. Spouse of successful applicant(s) is/are eligible to work in Malaysia.
c) 5 year Resident Pass – Established Tech Investor / Venture Capitalist.
For founder and/or co-founder with more than 2 years track record of established investments in tech businesses and/or technology development projects.
Minimum funds of US$2.5 million available for private investments and/or in venture capital management.
Must be registered with Securities Commission Malaysia as Venture Capital Management Corporation (VCMC).
Eligible for relocation / work and residency visa for 5 years and to bring dependents.
Grants and Incentives for Tech Businesses
One of the most enticing aspects of the Malaysia Tech Entrepreneur Program is the array of grants and incentives available for tech businesses operating in approved sectors. These include:
Research and Development (R&D) Grants: Tech businesses can access funding support for R&D activities aimed at driving innovation, product development, and technological advancement.
Commercialization Grants: Grants are available to support the commercialization of innovative technologies, helping tech startups bring their products and services to market more efficiently.
Market Access Grants: Tech entrepreneurs can leverage grants to expand their market reach, explore new business opportunities, and establish strategic partnerships both domestically and internationally.
Training and Capacity Building: The program offers training grants and capacity-building initiatives to enhance the skills and capabilities of tech entrepreneurs and their teams, empowering them to compete effectively on a global scale.
Tax Incentives: Tech businesses may benefit from various tax incentives, including pioneer status, investment tax allowances, and exemption from import duties and taxes on machinery and equipment, reducing operational costs and enhancing profitability.
With access to long term residency, work permits & technology development grants tech entrepreneurs can establish a strong foothold in Malaysia's burgeoning tech landscape by relocating to Malaysia and leveraging Malaysia’s incentives. This allows tech entrepreneurs and their families to immerse themselves in Malaysia's rich cultural tapestry and enjoy a high quality of life.
Setting up a wholly owned legal entity like a private limited company in Malaysia costs about US$600/-., including all government fees. Foreigners can own 100% of the shares in the company. However, they will need to appoint at least 1 Malaysian director. Assistance in preparing and submitting the application under the Entrepreneur Tech program usually costs from US$2,000 for the principal applicant(s) and about US$500/- per dependent, excluding government fees (government fees range from US$650/- to US$1,250/- per head). For guidance on how to structure your business in Malaysia and preparing the application email or call us via our contact details on our website, or send us a Whatsapp message.
Embrace the possibilities, seize the opportunity, and unlock your tech business's full potential in Malaysia.
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