Eternity Law International — Ready-made company in Malaysia

Ready-made company in Malaysia

Published:
April 2, 2020

What is included:

  • ready-made company in Malaysia;
  • bank account for the company.

Malaysia is often called the place of two cultures because of the strong difference between life in different regions. It is of interest to businessmen as a vacation destination with beautiful beaches and as a country for registering a business.

Malaysia is distinguished by its world development prospects and is in the top twenty for its ease of doing business rating. Anyone can register their business here, while doing business can be done outside the country.

To register a company in Malaysia, you must go through such stages.

1) Features registration of a company with subsequent conduct of activities outside the country:

  • passport data of the owner with confirmation of the address of residence;
  • required capital is 1 MYR;
  • tax rate less than 25%;
  • financial reports every year;
  • The procedure lasts 2 weeks.

2)Features of company registration for local activities:

  • at least half of the owners of the company must be beaten by citizens of Malaysia;
  • capital of at least 1 MYR;
  • provision of passport data of a citizen of the country;
  • free choice of the scope of the company;
  • tax reports are submitted every year;
  • registration period is one week.

WHAT FORMS OF BUSINESS CAN I OPEN IN MALAYSIA?

You can register an individual company. Provided that the beneficiary is at least 18 years old, and he conducts activities under his own name. Also in Malaysia, partnerships are registered when several, but not more than 20, people conduct activities.

Limited liability company is the best option for running a young business. A feature is the covering of debts only by the assets of the enterprise.

The most popular among large businesses are limited liability companies. Several directors should be involved here, and the assistant should have the citizenship of this country.

Directors need to live in the country. The company consists of 350 thousand capital at the time of registration, which is contributed by shareholders. Their number can range from 2 to 50.

A joint-stock company in Malaysia must have capital at the time of registration of at least 20 million rigits, and its shares may be transferred to third parties.

In addition, a special license is required to open a travel or trade company in Malaysia. There are also companies with unlimited liability, which are necessarily indicated in the statute.

FEATURES OF TAXATION IN MALAYSIA

The income tax rate in this country is 24%. To avoid double taxation, the country has signed an agreement with more than 50 other countries, which significantly reduces the businessman’s expenses.

To simplify the registration of a business in Malaysia and open an account with a bank of this state, it is worth contacting the specialists of our company for help.

Eternity Law International specialists will provide company registration services in many parts of the world. We have experienced and qualified lawyers who can advise and help with the registration of a company in Malaysia.

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