IMPACT – MEDIUM
What is the change? Companies are reminded that beginning Aug. 1 they will be required to update information in their ESD accounts using the new update function in the ESD portal.
What does the change mean? Companies that fail to keep company information updated may face consequences, including the possibility of having their employment pass and professional visit pass applications put on hold.
- Implementation time frame: Aug. 1.
- Visas/permits affected: Employment passes and professional visit passes.
- Who is affected: Companies that are registered with the Expatriate Services Division.
- Business impact: ESD-registered companies should plan to update their business information beginning Aug. 1. Companies should plan to update their information every year, and should also be sure to provide updates on any changes, including those to their address, financials, directors, shareholders or other details that affect their business profile.
Background: Malaysia’s Expatriate Services Division launched an SSM (Companies Commission of Malaysia) e-info update function in the ESD portal in April. Authorities said at the time that companies would be required to update their information beginning Aug. 1 and on an annual basis thereafter. The purpose of the annual updating requirement is to ensure that authorities are making decisions on employment pass applications based on the most recent company information.
BAL Analysis: Companies should take note of the change and prepare to update the information in their ESD account. Companies should also note that the MYXpats Centre may use the e-updates to track companies’ business profiles and that companies should expect additional requests for information or documentation to support their business presence in Malaysia.