Bankruptcy (Malaysia) - Can a Bankrupt to go overseas to work? How to deal with Bankruptcy while working overseas?

1755 Views  •  Asked 4 Years Ago
asked on Mar 26, 2019 at 21:21
edited on Mar 26, 2019 at 21:22
by   carrie1226
A Bankrupt who has reported in to Insolvency for the 3 years Case Management (5  years for those bankrupted before Oct 2017) can apply to work overseas with the permission of the DGI  (Director General of Insolvency).

Documents to be submitted to JIM   (Jabatan Insolvensi Malaysia)
[1]  Letter of employment offer (for the first year - subsequent years, appropriate work permit from that country).
[2]  Provide a Guarantor (usually immediate family members)
[3]  Pay Travel Tax of RM3,000 per year per country
[4]  Prepay in advance 3-6 months of the monthly contributions into the bankrupt's estate
[5]  Renewal of travel tax and travel validity period of 1 year given only
[6]  Guarantor to pay a Security Deposit of RM1-2 K. Case to case basis.
[7]  Estimated monthly Target Contribution to be paid into Bankrupt's Estate is 10% of Gross overseas monthly remuneration.

For those who were bankrupted while working overseas have to come back to Malaysia to renew to a new high security featured passport (wef from 01.01.2019).
Reporting in to Insolvency must be in person, no representatives no lawyers.

The conditions to go back overseas to work is the same as the above [1]-[7].

Duties and disabilities of bankrupt 

 Act 360 
As at 1 November 2017 

Section 38 (1)
(bb) the bankrupt shall immediately inform the Director General of Insolvency if there is any change of his home address; 
(c) the bankrupt shall not leave Malaysia without the previous permission of the Director General of Insolvency or of the court; 

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Cases noted in this forum for people who came to Malaysia and then went back overseas to work.



For travel overseas with a valid purpose
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