Are you considering bringing your business into Malaysia? Contact our team of qualified company secretaries today to talk about your options.
If you've ever considered taking your business overseas, but you're not sure where to go, why not Malaysia? Malaysia is at the centre of the Asia Pacific Rim and is one of the most developed economic centres in Southeast Asia. We've come up with a list of reasons why you should consider taking your business into Malaysia.
1. Costs are Low
Malaysia has a low cost of living, one of the lowest in Southeast Asia. Bringing your business into Malaysia, this also means that the cost of running your business will be low as well. Add to that the low property prices and the low minimum wage requirements, you've got yourself a winning combo.
2. Governmental Assistance and Incentives
Malaysia is the second most developed country in Southeast Asia, and the 27th globally. Our government has put in place several agencies and incentives to entice international investors. Agencies such as MIDA, MEC and MITI encourage the inflow of foreign investment. Financial grants and tax exemptions are also incentives that the government has put in place for foreign investors.
Did you know?
Malaysia was ranked 12th globally on Ease of Doing Business by World Bank Group 2020.
3. Quick, Easy Process
In line with new policies and initiatives, the Companies Commission of Malaysia has ramped up procedural timeframes and introduced enhanced policies to make incorporating your company a breeze. Company registration can take as quickly as 3-5 working days to process, and employment permits for expatriates can be processed in as quickly as 5 working days.
4. Avoid Double Taxation
Malaysia is a part of Double Taxation Agreements with countries in continents all over the world. This way, you avoid having to pay taxation in both Malaysia and your home country. In the absence of a Double Taxation Agreement, businesses may also be exempted via the foreign tax credit.
5. Ease of Communication and Operation
Malaysia is a part of the Commonwealth nations and as a result, English is a widely-spoken language. Its political structure and legal framework also closely follow UK government and law.
If you're looking for more guidance on how to bring your company into Malaysia, what sort of business entity you should be registering, and what other options you have, please give us a call for a consultation today.