From last decade Malaysia becomes
one of the favorite spots for business. Malaysia’s growing economy turns
Malaysia into a hot business zone in South East Asia. If you are thinking of
starting a business in Malaysia, you are thinking wise. The government of
Malaysia is providing more opportunities to attract more IDI in the country.
However, Malaysia’s increasingly strong economic prospects and significant
investment programs makes this country more attractive to overseas investors.
Some of the benefits of starting a business in Malaysia is stated below: -
Lower Corporate Income Tax
Compared to other countries,
Malaysia’s corporate income tax is comparatively low. If your business has an
income of RM 500000 or less, you need to pay just 20 percent tax. However, the
Malaysia government decision to reduce the tax to 19 percent in the coming
years. Which means that you do not need to worry much about corporate tax.
Educated Workforce
Malaysia is a multicultural and
multi-religious country. Which makes this country a lit bit difficult for
foreign entrepreneurs to deal with the local customer. However, thanks to this
educated workforce, who can help foreign entrepreneurs to deal with the local
customer. Majority of the Malaysian workers are highly educated. They have the acquired
skills that an organization requires to function correctly. The workforce of
Malaysia has become one of the most important points among all foreign
organizations.
Supportive Government Policies
For many years Malaysian
governments are successfully implementing and conducting business policies. The
well-developed financial sector of Malaysia supports all the investors. All the
business relates problems are resolved quickly by both local authorities and
federal & state government. Liberal
policies continue in good and bad times, encourage investments and achieve
economic success.
Developed Infrastructure
In the past few decades,
Malaysia's infrastructure has developed into an effective logistics hub.
Reconstructed maritime and air connection enable multinational companies – to
produce in Malaysia and deliver the product or service to other parts of the
world. Its excellent road condition and adequate railways provide easy access
to other parts country.
Flexible Banking System
The flexible banking
infrastructure of Malaysia makes it easier for foreigners to have more than one
foreign currency accounts. The bank also provides the facilities for managing
the bank account via online/internet. However, there are mainly two types of bank in Malaysia that is offshore and onshore. Personal banking in
different currencies is also accessible to Labuan entrepreneurs, who have a
current residence visa.
Quality of life
Besides many business benefits,
Malaysia has many more to offer. The quality of life in Malaysia is much
better, its natural beauty and culture diversity makes is something to praise.
Every year a vast number of tourist and business person visit Malaysia.
Malaysians are often described as friendly and hospitable, modest and helpful.
Some Interesting Facts
- Malaysian government now allows foreigners to establish 100% foreign owned companies.
- Malaysia is currently ranked 24th among global trading nation.
- Multinational companies all around the world have invested in more than 65000 projects in Malaysia.
- According to word bank business report, Malaysia is ranked 6th when it comes to ease of doing business.
- Malaysia is currently ranked among 10 most attractive countries for foreign direct investments.
Conclusion
Setting up a business in Malaysia
is not complicated. If you follow some basic rules, regulations you can set up a company in Malaysia easily. The Malaysian government provides lots of flexibility and
opportunities to attract more foreign investors. For protecting your investment
within Labuan company, the Malaysian government permits you and your dependents to
obtain two years’ work permit. However, the work permits are subjected to
renewable.
See related articles: How to register your company online Malaysia ? - at Biz Blog Writer
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