If you’re starting a brand-new venture, or if you own an established business and want to expand to a new country, consider setting it up in Malaysia. This Southeast Asian country offers both new and established companies with plenty of advantages, and you can use them to sharpen your competitive edge and achieve long-term success.
Why Malaysia Is the Ideal Choice for Businesses
Many countries around the world like Dubai, Singapore, and China have booming economies plus large markets that have exceptional spending power, which is why they’ve attracted a lot of entrepreneurs and corporations. However, Malaysia stands out from the crowd because it allows you to:
Place your business in a strategic location
Malaysia is part of the Association of Southeast Asian Nations (ASEAN), which allows it to trade with member countries like Singapore, Vietnam, Indonesia, the Philippines, and more. Geographically, Malaysia is perfectly situated to access these nations and has built strong maritime infrastructure that allows for fast and efficient trading. All of these mean that you can access a large market of more than 667 million potential customers and expand your business when you’re ready.
Access skilled labor
Malaysia has invested in its people’s training and education, creating numerous technical schools and industrial training institutes that cater to every sector and allow students to be highly proficient in their field. The country also attracts skilled and educated workers from neighboring countries who contribute to Malaysia’s qualified and reliable workforce.
Not worry about language barriers
English is a required subject in elementary and secondary schools in Malaysia and is the primary medium of instruction in its private colleges and universities. This is why the country ranked third in the 2024 English Proficiency Index in Southeast Asia and 26th in the entire world. Many Malaysians are also fluent or at least conversational in Tamil, Mandarin, and other widely spoken languages.
Starting Your Business: The First Few Steps
If you decide to establish a business in Malaysia, you must take several key steps before your operations can begin. Here are some of them:
Choose the ideal company name
Decide on a name that not only reflects your business ethos but is also attention-grabbing, professional-sounding, and easy to remember. Next, run a name search to know whether the name has been used by other businesses. If it’s unique, you can then apply for government approval to use that name for your company.
Select the correct business structure
Most businesses are suited to apply for a private limited company structure, which provides limited liability and can be set up quickly. It can also be fully owned by foreigners and allow a work visa. However, it may be better for your needs and the type of business to set up a foreign branch office (for big international companies that want to expand to Malaysia) or a representative office (a non-trading entity that focuses on research and business development).
Register your business
After choosing a business name and structure, you can now register company in Malaysia. You technically do this by yourself, but you’ll run into fewer snags and have a smoother, less stressful experience when you hire experts who offer company registration services. With their help, you’ll complete the registration process ASAP and get your business up and running right away.
Prepare for Your Business Registration Today
Malaysia is one of the best countries to base your new business or company branch. Use this guide to set up your enterprise and get it on the path to long-term success!