MSC Malaysia Status – The 10 Point Bill of Guarantees
MSC Malaysia Status, famous for its beneficiary on 5 Years Tax exemption, and that is the reason most companies are drawn to apply for the status. However, how many does know what MSC Status are offering? The below “10 Point Bill of Guarantees” are what MSC offering that will really excites you. The points was grab from http://www.mscmalaysia.my/.
- Provide a world-class physical and information infrastructure. - MSC Status companies will required to move into office area which was awarded with MSC Status. There are now approximately 14 office area are classified as MSC, namely Bandar Utama, Cyberjaya, KL-Sentral, KLCC and more will be coming in within the next 1 year. World class infrastructure really sounds great, however the cost is respectively high as well.
- Allow unrestricted employment of local and foreign knowledge workers - as from what I know, MSC has direct collaboration with the Immigration department to speed up the process for hiring foreign knowledge workers, which reduces your hassles in foreign employments.
- Ensure freedom of ownership by exempting companies with MSC Malaysia Status from local ownership requirements. - is this means by foreign investor are able to take up majority ownership? I will have to check this out.
- Give the freedom to source capital globally for MSC Malaysia infrastructure, and the right to borrow funds globally.
- Provide competitive financial incentives, including no income tax for up to 10 years or an investment tax allowance, and no duties on import of multimedia equipment.
- Become a regional leader in intellectual property protection and cyberlaws.
- Ensure no Internet censorship.
- Provide globally competitive telecommunications tariffs.
- Tender key MSC Malaysia infrastructure contracts to leading companies willing to use the MSC Malaysia as their regional hub.
- Provide an effective one-stop agency – the Multimedia Development Corporation.
Being an MSC Status company, you will also enjoy the services such as Business Matching provided by MSC. MSC will collaborate with agents of MARTRADE, MIDA and etc around the world to match your business with other businesses in foreign country, providing you an opportunity to venture into the foreign markets. Middle East countries are very favourable to MSC Malaysia Status. Apart from that, employment of internship will also subsidized by MSC with an amount of RM500 each.
As a recipient of Technopreneur fund, our company is eligible to apply for the status, however, not all Technopreneur recipient are qualified for the status. MSC will look into your business model, and the revenue source as the based line, specially your revenue model. If your revenue model are too complex or too exaggerate and it does not matches your business model, or it sounds too un-logical to them, your chances are limited. God bless me, hope my company are qualified for it.
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Life is interesting, its all about experimenting, trial and errors and self improvments. This blog is all about my personal experience. I am full with ideas, and i will achieve every one of them step by step.