Malaysia is located in Southeast Asia, consists of 13 States and 3 Federal Territories and boarders Thailand, Indonesia and Brunei. With a population exceeding 27 million Malaysia is one of the fastest and most stable developing regions in Asia. Malaysia has evolved from a raw material producing economy to a dynamic, emerging multi-sector economy which includes hi-tech and medical and pharmaceutical industries in addition to possessing a thriving oil and gas industry.
Growth has been slowing in Malaysia recently with GDP decreasing from 7.2% in 2010 to 5.1% in 2011. This is mainly due to the impact from the on-going Eurozone crisis however Malaysia remains a buoyant economy with the domestic sector driving growth leading Malaysia to become increasingly less influenced by global economic impacts.
The banking sector in Malaysia has developed in recent years to become a robust pillar of the financial system. Spurred on by competitive pressures in the region and financial liberalization the banking system has advanced which has contributed to ensuring numerous international banks are located in Malaysia.
Key benefits of Malaysia:
- Malaysia has been placed on the ‘White List’ of jurisdiction as the OECD has recognized Malaysia as having implemented the required tax related standards.
- Proactive policies by the government ensure Malaysia provides numerous opportunities for growth
- The Corporate Tax Rate in Malaysia is 27% and in addition to this the government offers a wide range of benefits, specifically in relation to manufacturing.
- Malaysia is ranked as the 21st most competitive economy in the 2011 World Economic Forum’s Global Competitiveness Yearbook.
- Malaysia has a liberal exchange control system which enables businesses to deal freely in foreign exchange with very little restrictions
- Malaysia has a developed and stable banking system with many international banks located in the country.
- Malaysia offers a young, educated and competitively priced workforce.
- Malaysia has a well-developed infrastructure in relation to other newly industrialized countries in Asia.
Please contact us if you require our Malaysia Fact Sheet and Fee Schedule.
New licensing regulations for Trusts & Service Providers in Hong Kong
As per new regulations, all Hong Kong businesses providing Trustee Services, including Corporate Service Providers will not be able to operate without a valid trading license after March the 1st 2018. The new scheme is designed to better regulate individuals carrying out services within the financial sphere in Hong Kong and will be overseen and administered by the Hong Kong Companies Registry.
The terms of Hong Kong's new register of significant controllers and what it means for companies
As per new legislation, from March 1st 2018, every company incorporated in Hong Kong will be required to keep and maintain a register of all persons who have significant control of the company. The record must be updated as required and kept at the registered company address, even if there are no persons of significant control.
The pros & cons of European Passport-by-Investment schemes
In a bid to rebuild the dwindling economy in Cyprus shortly after the financial crisis four years ago, the government launched a passport-by-investment program to temp wealthy foreigners with citizenship in exchange for an investment of no less than €2 million into the Cyprus economy.
Using the Cyprus Non-Dom scheme for beneficial tax planning
In an attempt to improve and simplify the Cyprus tax system as well as to remain a highly compliant and attractive jurisdiction, the introduction of the non-domicile (shortened to Non-Dom) scheme aims to give Cyprus a competitive edge over other jurisdictions.
How are Cyprus banks handling the island's high rate of NPLs? Can more be done to combat them?
It is no secret that the Cyprus banking sector is struggling with the overwhelming level of Non-Performing Loans (NPLs), no matter the efforts exerted by the main banks in Cyprus by following conventional banking models to balance their profit/loss reports, NPLs remain to be the proverbial hole in the bucket.
Income tax exemptions for expats living in Cyprus: what are your options?
Situated in the Eastern Mediterranean, the Republic of Cyprus boasts a strategic geographical location at the hub of three continents; Europe, Asia and Africa and a pleasant sunny climate year round.
The UK Persons of Significant Control Register & its impact on companies
The requirement to maintain a register of people with significant influence or control, more commonly known as the PSC register was introduced to mandate all unlisted companies in the UK, including LLPs and dormant companies to maintain a register identifying those with significant control over a company.
Cyprus implements the Hague Convention, legally recognising Trusts as a type of Equitable Law
This year, the Republic of Cyprus ratified The Hague Conventions’ definition of the legislation applicable to trusts and furthering the regulations surrounding their recognition. Cyprus common law now recognises trusts as a unique legal institution under equity.