Official unemployment in Malaysia usually hovers around 3%. According to the Department of Statistics Malaysia unemployment was a 2.7% among Malaysians, but doesn't mention unemployed foreigners.
There is no unemployment insurance or unemployment assistance system dedicated to helping the unemployed in Malaysia.
If you're living in Malaysia under a professional pass or work permit, you must be employed with the company that employed you. However, it can be waved with your current employer signs a release letter. If the worst case scenario does happen, you may leave the country and apply for a job or visa again.
Most international companies offer expats an exit package, but if your employer does not initially offer you an exit package, you may decide to ask for terms.
Update 3/06/2015
Keep more of your money when transferring funds overseas!
If you want to move money abroad, from Malaysia or to Malaysia for example, Fexco provides efficient and secure global bank to bank transfers and bespoke payment solutions for both business and personal clients.
Why Fexco
Fexco provides a secure international money transfer service online or by telephone with bank beating fx rates and low fees. Specialises in high-value transfers.
Main characteristics
Fexco will help you to keep your overseas money transfer costs to a minimum.
| Margin | 0.6% |
|---|---|
| Regulator | FCA |
| Fee | £10 < £5K or Free > £5k |
| Mini | £1K |
| Ccy | All (130 currencies, incl ‘exotics’) |
| Services | Repatriation of funds, Property, Regular payments, High Value payments, spot, online, telephone. |
Get an online quote today
When you are ready to make your transfer, John and his team will be available to help you with better rates and an unrivalled service to make sure your funds are delivered securely and speedily.