Malaysia is a beautiful place to live and do business. Malaysia shares many of its Southeast Asian neighbour’s tropical wonders. Still, it has several advantages that make it an excellent location to start a business as an ex-pat. The most obvious is that Malaysia is more organized and business-friendly than most other countries in ASEAN. And they also have excellent facilities, infrastructure, skilled labour, and it is not difficult to find English fluency either. Here are some things to consider if you are starting a business there.
- Paperwork: Learning the bureaucratic processes of a new country can be very intimidating. There are many things that you will need to learn to comply with the land’s regulations and laws. If you do not have someone with you who is already an expert in these things, the best thing to do is find an agency specializing in assisting foreigners with business procedures such as company registration in Malaysia.
- What Type of Business: There are essentially eight definitions of businesses you can start in Malaysia. They are Sole proprietorship: Partnership, Private Limited Company, Company Limited by Guarantee, Unlimited Company, Public Limited Company, Foreign Company, and Limited Liability Partnership. The differences between these are best explained through a discussion with an expert in business in Malaysia. You can find expert help through an internet search.
- Visa: The next thing you need to look into is what kind of visa you will need. There are different types of visasfor people to come and stay in Malaysia. But the kind of visa you have will determine if you can stay long-term or work. There are three kinds of Employment pass available: the employment pass, the temporary employment pass, and the professional visit pass. They also have a business visa, which you will need when running a business there. One other thing you will need is a work permit. The work permit will need to be applied after you know all the details of the business you will be operating.
- Where: Malaysia is a big country, Kuala Lumpur is the best-known location as it is a world-class city with all the modern facilities. But there are many lovely places to live. The best thing to do is to take your time exploring the country and have conversations along the way.
- Buy a Business: If you hope to start a business, you probably already know what you are looking for. But if your dream has only developed to the point that you know you want to live and work somewhere lovely, you might be interested in finding a business that you can take over and operate. It will be much faster than starting from scratch, and you might be able to turn a profit a lot sooner as well.
Malaysia is a country that is open for business. If you are professional and get the right advice, there is no reason why you can’t begin a new life in this beautiful and peaceful country. Many people have done so already, and you will find a thriving ex-pat scene and lots of success stories to learn from.