Starting a business in Malaysia has a lot of advantages. The country is growing economically. There is a huge population of people with excellent purchasing capacity. Foreigners and foreign companies will find Malaysia a favorable location to establish their offices because of the above factors and many other positive pointers. Malaysia has a good amount of highly qualified and English-speaking people who can be employed for working in the company. They will be the supporting structures for expanding the company in Malaysia.
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Benefits of Starting a Company in Malaysia
It is not expensive to set up your operations in Malaysia. Compared to neighboring Singapore the cost of real estate and infrastructure is much lower in Malaysia. The employees that you need for the company also come at lower salaries. You will also see all the other costs of running the company are much less. Added to these are the subsidies offered by the government in selected industrial areas. This makes Malaysia a very economical place to run a company.
Malaysia has a very well-connected road and rail network which makes it easy for transporting goods across the country. It is easy for you to distribute the goods to various places in the country. Another big advantage is its land connection with Thailand which is another growing economy to where you can send the good from Malaysia. Malaysia enjoys free-trade agreements with the ASEAN nations where you can easily sell your goods.
Types of Companies in Malaysia
Before a foreigner opens the company in Malaysia, he or she should be aware of the procedures and formalities. The first thing to know is what type of company they can open in the country. The three main types of companies that can be opened in Malaysia are the private limited company, branch office or representative office. While all three have their benefits, it is most suited for foreign companies or individuals to open their private limited companies in Singapore.
It is ideal for any foreign investor to get the assistance of local service providers for Malaysia company register as the procedure can be confusing and will take a long time understanding it. A local consultant can help you to get the company incorporated at a very affordable price. You need no waste your time running after the documentation and other processes.
Setting Up the Malaysian Company
The process of setting up a private limited company in Malaysia will start with deciding a name for the company. For the subsidiary company, the name need not be the same as that of the parent company. You can choose a name that is more suitable for local purposes. This type of company allows you to conduct almost all businesses in Malaysia and offers much scope for expansion. There must be at least one shareholder for the company. The maximum number of shareholders can be fifty. The private limited company is a separate legal entity and can be fully owned by foreign companies. The liabilities or losses of the Malaysian company will not affect the parent company.
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You must follow a few conditions when you register Sdn Bhd in Malaysia which the corporate consultants will help you in fulfilling. The company must have at least one director who is residing in Malaysia. The company must also appoint a company secretary who must be a member of any of the recognized professional bodies or licensed by the SSM. The private limited company must also have a registered office address. All the above conditions can be fulfilled with the help of the corporate consultants.
How to Register New Company in Malaysia | Register of Company Malaysia 