What does the ASEAN consumer think and feel about the economy? How has spending and financial behaviour changed? Get the latest highlights from the region’s barometer of consumer sentiments.
What does the ASEAN consumer think and feel about the economy? How has spending and financial behaviour changed? Get the latest highlights from the region’s barometer of consumer sentiments.
Explore key business trends and sentiments today.
View reportyou are in UOB ASEAN Insights
Malaysia’s export-driven economy has benefited from not just a skilled, multilingual workforce, but also from its array of advanced, knowledge-based, and capital-intensive industries.
Steps | Details |
Apply for incorporation under Suruhanjaya Syarikat Malaysia (SSM) and appointment of company secretary | Register the company name with the SSM. After approval, it will be reserved for 30 days from the day of confirmation. Necessary documents and information needed:
If successful, notices of approval and registration will be issued. A company secretary will then be appointed. |
Open a bank account | Documents required:
|
Application of necessary licences and permits from relevant authorities | Types of business licences:
|
Start business | Commence business upon approval. |
Steps |
Apply for incorporation under Suruhanjaya Syarikat Malaysia (SSM) and appointment of company secretary |
Open a bank account |
Application of necessary licences and permits from relevant authorities |
Start business |
In Malaysia, the personal income tax stands at 15% while the standard corporate tax is at 24%. For SMEs, the standard corporate tax is at 17%.
Incentives that businesses receive are based on sectors, locations and company size – in various amounts and periods of time. Some of these incentives include:
Pioneer Status (PS)
Investment Tax Allowance (ITA)
Pharmaceutical manufacturers in high-tech products
Principal Hub
New company
Existing company
MSC Malaysia Status
National Economic Recovery Plan
New company in manufacturing sector with fixed assets of:
Malaysian Investment Development Authority (MIDA)
The government's principal agency to oversee and drive investment into the manufacturing and services sectors in Malaysia.
Visit MIDA’s website
Malaysia External Trade Development Corporation (MATRADE)
The national promotion agency under the Ministry of International Trade and Industry (MITI) to develop and promote Malaysia’s export to the global market.
Visit MATRADE’s website
Malaysia Digital Economy Corporation (MDEC)
The government agency under the Ministry of Communications and Multimedia Malaysia entrusted to lead the nation's digital economy forward.
Visit MDEC’s website
This fact sheet is given on a general basis without obligation and is strictly for information only. Nothing in this fact sheet constitutes accounting, legal, regulatory, tax or other advice. This fact sheet is not intended as an offer, recommendation, solicitation, or advice to purchase or sell any investment product, securities or instruments. Although reasonable care has been taken to ensure the accuracy and objectivity of the information contained in this fact sheet, UOB and its employees make no representation or warranty, whether express or implied, as to its accuracy, completeness and objectivity and accept no responsibility or liability for any error, inaccuracy, omission or any consequence or any loss or damage howsoever suffered by any person arising from any reliance on the information in this fact sheet.
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