Malaysia is an extremely underestimated jurisdiction in Southeast Asia, which, however, in terms of economic growth and prospects is not inferior to typical “Asian tigers” like Singapore or Hong Kong. Company registration in Malaysia is an opportunity to discover a unique market with great horizons for development.
How much does it cost to establish a company in Malaysia?
The cost of company establishment in Malaysia from the Lawrange law firm is 2900 euros. The price includes the following services:
- acquisition of a ready-made business or registration of a new enterprise;
- agency service;
- hiring a secretary;
- lease of a legal address.
The term of formation is 12-15 days for registration and up to 4 days for the purchase of a ready-made company. As a result of the service, you will receive certified details for the organization (Certificate of Incorporation, Memorandum, Articles of Association and current account in a local bank).
Features of company registration in Malaysia
Malaysian jurisdiction is extremely friendly to foreigners: even one person can register a business here. At the same time, the share of foreign ownership can easily reach 100%. The requirements for the authorized capital are also minimal – only 1 RM.
The most attractive form for organizing a business in the country is Sendirian Berhad (abbreviated as Sdn Bhd), which is an analogue of an LLC in Ukraine or Russia. The abbreviation must be added to the name of the enterprise after its creation.
Despite the minimum requirements, it is worth mentioning one fundamentally important nuance – this is the need to appoint a Malaysian resident director. At the same time, the head should not have a criminal record or have the status of a bankrupt.
A registered organization can only have one type of activity, but it can be easily changed in the SSM profile. Thus, it guarantees flexibility in doing business.
Businesses in Malaysia are required to conduct an audit every year. But all enterprises whose annual income is less than 300,000 RM are exempted from verification, or there are exemptions from tax obligations.
What taxes does business in Malaysia pay?
The jurisdiction establishes the following obligations:
- corporate tax – 24% for the domestic market. For international activities, the rate is very attractive and is only 3%;
- Directors have no personal income tax. For foreign workers, the rate fluctuates from 0 to 28%;
- royalties – from 0 to 15%;
- GST (for products and services) – 6%.
All of these values are base rates, which can be easily reduced. For foreign businesses, the Malaysian state provides an incredible number of benefits that you should take advantage of when applying for an escort in Lawrange.
What do you need to set up a company in Malaysia?
To set up a company in Malaysia, you will need three options for the company name, certified copies of your passport and a power of attorney for a Lawrange representative. We prepare the constituent documentation and other certificates on our own. As a result of registration, you receive all the necessary details for future business activities.
Strengths of Malaysian jurisdiction
Undoubted advantages of registering a company in Malaysia:
- a large number of tax benefits;
- minimum requirements for residency and authorized capital;
- access to the Asian market;
- prospects for development.
If we consider the Asian region, then Malaysia is an extremely attractive option, since the registration of commerce in Singapore or Hong Kong can be much more expensive. The local administration, on the contrary, is only gaining popularity in the world market and provides foreign partners with the most favorable conditions for cooperation.
The state welcomes foreign entrepreneurs and investors, and in the territory of jurisdiction you can start a profitable business. All you need is to apply for support to the law firm Lawrange.
The cost of company registration in Malaysia
The service price is 2900 euros. The package of services includes full legal support from the Lawrange team.
What do you need to register a company in Malaysia?
It is required to provide three options for the name of the company, a copy of the passport and a power of attorney for the representative of Lawrange.
Advantages and disadvantages of jurisdiction
Pros: favorable tax conditions for foreigners, excellent access to the international market and rapid economic growth. There are no serious shortcomings in the Malaysian jurisdiction (with the exception of the focus on the Asian market).