From government incentives to speed, there are plenty of benefits of malaysia company setup. One of the most diverse counties in Asia is Malaysia, it is a multilingual, multicultural, and multi-ethnic country. There are a lot of benefits you can expect, it is a dynamic business Asian business hub. There are amazing reasons for this, and it is strategically positioned. Making it an accessible country to other economies. They have even amounts of active participation from both the private and public sectors.
Important steps in setting up a company:
- Select a business entity to set up
You must consider the type of business groups available before you decide to company setup malaysia. Below are the Malaysian primary types of business entities.
- Sole Proprietorship
- Sendirian Berhad (Sdn Bhd)
Private limited company limited by shares
- Limited Liability Partnership (LLP)
- Berhad (Bhd)
Listed Public Company
Unlisted Public Company
Company Limited by Guarantee
- Meet the needed requirements
Once you decide on the business entity type. You should meet the needed requirements to set up a company in Malaysia.
- Complete the online form
You can swiftly fill up the online form once you meet the basic setup requirements. All you need to do is state simple details and send the important documents.
- Sign the documents digitally for SSM Submission
You need to sign and submit the important documents once your company name is approved.
- Get your certificate of incorporation
This will be the last step for you to set up your company officially in Malaysia. SSM will then provide the Certificate of Incorporation and your company is ready to go.
Great Benefits of choosing to set up a company in Malaysia:
- Rapid incorporation process
Company incorporation can be done completely online. Also, the process needs only several days if the intended name of your company is available. And if the information is approved by the SSM.
- Strategic infrastructure and location
Malaysia prides itself on being an economically and politically stable country. It is considered the central hub for financial institutions. You can enhance the share capital of your company in the future.
- Wage costs, operation (utilities), and low rental
Compared to other countries, doing your business in Malaysia aids you to save money in the long run. You will enjoy lower premise rental and lower office rates.
- Industry distinct tax incentives
There are different specific tax incentives for local companies to apply. These incentives are normally provided for investments in agriculture. Also, in manufacturing, tourism, and many more.