Malaysia
Capital: Beijing.
Official languages: Chinese.
Currency: Yuan.
Company registration provides the following benefits:
- The favorable geographical location for conducting regional and international trade.
- Relatively developed infrastructure, transport network, and IT sector.
- Availability of qualified engineering and technical personnel.
Malaysia is located in Southeast Asia in the southern part of the Malay Peninsula and on the island of Borneo. On the continental part, it borders Thailand, and on the island part with Indonesia.
Today, Malaysia is an attractive business destination in Southeast Asia due to its favorable location, developed infrastructure, and skilled workforce. Malaysia has a fast-growing economy with liberal market policies aimed at promoting business and entrepreneurship.
The World Bank has ranked Malaysia the 12th easiest place to do business globally.
Features of taxation and reporting
The Malaysian tax system is generally not onerous for businesses as long as they follow the rules. Financial statements are submitted within seven months of the financial year's end.
- The corporate tax rate is 24%. Special tax rates apply to resident companies with a share capital of MYR 2.5 million and below at the beginning of the assessment year.
- VAT is 6%. There is a list of goods and services exempt and taxed at a rate of 0%.
- Companies are required to file tax returns and pay taxes monthly or quarterly.
Company registration
The time frame for company registration is seven working days.
The main forms for foreigners are Sdn Bhd (equivalent to LLC) and PLT (Perkongsian Liabiliti Terhad).
To register an Sdn Bhd company, a minimum of two founders/shareholders and a minimum of two directors are required. Shareholders of this company are liable only for the debts accumulated by the company, following the level of their investment, and no more.
Additional services: Opening an account with HSBC Bank Malaysia.
Remotely registering a company requires the following information:
- Choosing a company name: three options are required.
- Certified copies of shareholders' and directors' passports.
- Company director's resume (CV) and income certificate.
- Charter and regulations of the company.
- Address of the company's registered office.
How to register a Malaysian company quickly:
To quickly register Sdn Bhd in Malaysia, contact IT-OFFSHORE specialists. Our services cost includes:
- Preparation of documents (collection, filling, notarization, etc.).
- Company registration.
- Payment of all government fees.
- Registration agent services for 1 year with extension possibility.
- Translation services.
- Delivery of registration documents to any address.
The bottom line
Understanding local laws and procedures is essential when registering a company in Malaysia.
Our company offers comprehensive support for the company at all stages - from registration to full support of its activities. Along with helping you register a company legally, we take care of many other tasks as well.
In particular, our scope of services includes the provision of nominee directors and shareholders, leasing of a legal address, and obtaining all necessary licenses and permits for the company. In fact, we ensure that the entire operation of the business is in accordance with local laws in the jurisdiction in question.
