Rapidly growing Malaysia is a perfect place to register construction and investment businesses. The Malaysian state encourages foreign investors and companies willing to access one of the most undervalued markets in the world with huge growth and sales potential.
Malaysia is one of the fastest growing Asian regions. The country provides lots of preferences to foreign businesses – the government encourages the emergence of new enterprises and investments in every possible way. Malaysia is one of the leaders in investment security.
Business areas such as tourism, export, electronics, and agriculture are especially successful. Malaysia is an excellent option for a businessman who wants to start a business in a country with high development potential and access to the entire Asian market.
The best solution would be to register a limited liability company (Sendirian Berhad). The members of the firm are liable only for their contributions – their own property is protected by law. As such, Malaysia uses the traditionally European achievements of the legal system and provides a modern organizational and legal form for doing business.
You will need the following documents to register a company in Malaysia:
The summary of the beneficiaries must contain personal details, including passport information. This information will be listed in a special register, which is reliably protected by the state.
All documents are prepared in Malaysian or English. The deadline for submission is 3 months from the date of approval of the unique name of the organization. The prepared documents are submitted to a special registration body – the Companies Commission. If the applicant wants to get a competent and prompt translation of the necessary documents, it is recommended to contact Cortax – we will promptly arrange a professional translation of all certificates.
The ability to appoint a nominee director from among local citizens is one of the most important features. At the same time, the activities of the director can be exclusively formal – the founders will lead the entire business themselves. In addition to this feature, there are following nuances in the registration procedure:
The name of the organization can be in English, Latin, or Malaysian. As in most other legal orders, there is a requirement for the uniqueness of the name in Malaysia – it must not be a plagiarism of already registered marks. It is worth remembering that, in addition to the main name, the details must also include the abbreviation of the organizational and legal form – Sdn Bhd.
Each company must have a legal address. Cortax can help you find a suitable location and then register it for a successful procedure.
Following the results of registration, the applicant obtains a special certificate in electronic form, which certifies the successful completion of the business registration. In addition, a special registration number is assigned to the company.
The following taxes apply to businesses in the country:
It must be noted that the company is subject to VAT only if its profit exceeds 500 thous. Ringgits. Otherwise, the taxpayer is not required to pay VAT.
As such, Malaysia has taken over all the strengths of the European legal system in terms of taxation. Tax liabilities are adequate, do not put pressure on the business, and allow it to develop at an accelerated pace.
If an entrepreneur is thinking about registering a company in Malaysia, then Cortax can help both with the translation of documents and other necessary actions. We know the specifics of doing business in the country and are ready to provide comprehensive intermediary support.
