Great Reasons To Set Up A Company In Malaysia
Malaysia is a South East Asian country of approximately 30 million, with a robust economy and great prospects for anyone looking to set up a company within the country. You will find Malaysia has a stable government, a healthy economy and a wealth of skilled workers. While Malaysian is the official language, Chinese and English are widely spoken. All Malaysian citizens take compulsory English language classes in school and most business communications are in English.
The fully developed country has an excellent telecommunications and transportation infrastructure with a wealth of natural resources. The Malaysian government is pro-business and boasts a flourishing manufacturing sector and diverse economy. Malaysia encourages foreign invest in many industries including manufacturing, biotechnology, tourism and communications. Malaysia’s Intellectual Property Corporation protects your company’s trademark, patents, copyrights and other intellectual property. Malaysia is also a member of the World Intellectual Property Organization.
Registering a business as a sole-proprietor or partnership is limited to Malaysian citizens or permanent residents. The most popular way to start a business in Malaysia is to form a private limited company, similar to a corporation where the company is a separate legal entity.
If you would like to join the more than 4,000 foreign companies in Malaysia, it is relatively easy to set up a Malaysia company today. You can register as an incorporated Malaysian company with foreign individuals or a foreign company as shareholders. You will then obtain a visa that allows you to travel to and from Malaysia and work within the country. You can bring foreign workers in to fill key positions but the Malaysian government expects foreign companies to train Malaysian workers to fill these positions eventually.
After several years, you and key expatriate personnel in your company can apply for permanent residency if you desire. You many find retirement in the sunny, warm country an attractive alternative to returning home to a colder, damper climate.
Advisory services are available if you want to start an innovative small or medium size enterprise in Malaysia. You can get help with industry-specific regulatory requirements, tax compliance and advice about registering a company in one of the promoted industries where Malaysia encourages foreign investment. The capital, Kuala Lumpur, is Malaysia’s business hub. Various government agencies offer support and development services for foreign companies in Greater Kuala Lumpur, especially manufacturing, multimedia, biotech and technology companies.
Personally and professionally, starting a business in Malaysia is an excellent idea if you like the idea of living and working in a country with a growing, robust economy and a pleasant tropical climate where your start-up is encouraged and nurtured by various, industry-specific government programs.