Why Set Up Your Business in Malaysia?
Malaysia is a great place to start your business. It offers a number of advantages for those looking for a place for investment. The ideal geographic location, easy and valuable labor, powerful infrastructure, comfortable investment rules to work with, and several other benefits make setting up business in Malaysia an attractive option.
Benefits of making a business investment in Malaysia
The rise of business in Malaysia and its increasing popularity as a business hub is not without reason. Malaysia offers many advantages for not only native investors but also for foreigners.
Here is a summary of the numerous benefits you can enjoy when setting up business in Malaysia.
- The natural beauty enhanced by a well-developed infrastructure makes setting up business in Malaysia a great option. It opens numerous chances of business in the tourism industry. A strong tourism sector also means the business gets the attention of foreign travelers.
- Malaysia, being rich in natural rubber and oil, also offers great opportunities for the manufacturing firms. Additionally, an abundance of local workers makes things easy while setting up business in Malaysia.
- Another advantage of its geographic location is the ports, which make it easy to trade via the sea in the surrounding zones. Moreover, its location makes it easy for other Asian businesses to set up their headquarters here.
- Finding labor in Malaysia is not only easy because of its abundance but higher literacy rates and a great majority English speakers majorly accounts for work efficiency as well.
- Malaysia offers many industrial parks. The purpose is to encourage foreign investors by offering incentives such as tax-free investments. The best example is the halal parks. They offer easy registration processes for businesses along with providing halal business practices, especially Islamic banking, for the Muslim community.
- Malaysia not only caters to the needs of Muslim communities but the regular way of trade ensures that everyone has equal amount of opportunities to work here. In this way, it is acting as a bridge between the Islamic and the modern world.
- Relaxation in many rules for the foreign investors enhances chances of doing business in Malaysia. Tax incentives including exemption from sales tax and import duties are highly beneficial for foreign investors.
- Setting a start up in Malaysia is not only profitable in terms of its future performance but it is also rather cheap to begin with. The Malaysian Ringgit is not an expensive currency and it further lowers the overall costs especially for foreign investors.
- Malaysia also offers certain advantages to its investors on the pretext of its membership to different summits and agreements. One such lucrative agreement is with the Association of South East Asian Nations, ASEAN, due to which investors in Malaysia can take advantage of free trade with other member countries of this agreement.
- Another similar example is that of the sixth D-eight summit. It offers businessmen from the D-eight countries with simplified visa software system.
These are enough reasons for you to consider setting up business in Malaysia. For further information and guidance regarding the procedure, send an email at [email protected] or visit 3E Accounting Malaysia Website.