KUALA LUMPUR, MALAYSIA — Starting a new business can be a costly, demanding task with blindside expenses and mountains of paperwork. But, with the help of Malaysian relocation consultation firm Cabana Worldwide, starting a business can be as easy as picking one of two company relocation options and handing letting Cabana put together the application. And, with benefits like tax exemptions for applicants, there is much to benefit from starting a business in Malaysia.

“Individuals often look to the world’s big cities when aspiring to start a business,” said Cabana Worldwide representative Amin Najafizadeh. “But, with the higher expenses those cities bring, these businesses are often playing catch-up from the start. Cabana Worldwide can help these same companies establish their business with lower property costs and tax breaks. And, every day we are witnessing a shift to a greater global market, so there is really nothing to lose by working from somewhere like Malaysia.”

There are two paths to choose from when starting a business in Malaysia. These options determine what type of business the company can conduct in Malaysia; how to apply; and the bonuses available.

Representative (Regional) Office

The regional office option allows a company to have legal entities (employees) in Malaysia who receive work permits without paying penalties or corporate tax from the Malaysian government. However, the company must keep its original clientele and can not conduct business or invoice for products or services to Malaysian citizens.

Applying for regional status requires approval by the Malaysian Industrial Development Authority (MIDA), and can take three to six weeks. Approval is granted for two years, and permits can be renewed for eight year extensions. Often, the Malaysian government will renew applications when a company shows the potential to establish private-limited status, which allows companies to offer services in Malaysia notes Najafizadeh.

“The process of applying for a regional permit is not complicated,” said Najafizadeh, “but communications can often be difficult. Some of the biggest problems I have seen from companies trying to establish a regional status without aid is that they often miss a simple step because of miscommunication. This is where a company like Cabana Worldwide can be a crucial third-party member and get companies off on the right track.”

Private Limited (Sdn. Bhd.)

This is the second option, where companies establish full-services status in Malaysia. With a private limited permit, companies can offer services from Malaysia and to Malaysian customers.

Approval commonly takes up to one week by the Company Commission of Malaysia (CCM). After approval, the prospective company will need at least two directors. Also, companies must meet certain criteria as deemed by the Malaysian government. These requirements vary depending on the type of company applying. Also, in certain circumstances companies may be asked to bring in local Bumiputera partners. Then, once a capital investment is paid, usually ranging from 500,000 to 1,000,000 Ringgits ($142,500 to $283,000 US), the company is free to operate.

“It is imperative for companies to know exactly what types of services they are applying to provide, and even more importantly, the company has to file its application accordingly,” said Najafizadeh. “We save companies hundreds-of-thousands of dollars just by guiding them through the process of properly applying for their permits.”

Offshore

Offshore accounts can benefit companies and individuals looking for offshore banking and investing, insurance, captives, trust business, fund management, investment holding, company management, or Islamic financing.

The benefit to holding an offshore account is that when a company holds its funds under non-trading status, the capital is not qualified to be taxed. Non-trading accounts can be monies held in securities, stock, shares, loans, deposits, and immovable properties.

MM2H

In addition to company formation and offshore accounts, Cabana Worldwide assists its clients in obtaining long-term visas. Through the government’s Malaysia My Second Home (MM2H) program, individuals can obtain a 10-year visa that also grants family members passage into Malaysia and provides tax benefits.

“My second home Malaysia program is a wonderful government initiative that opens the doors to this beautiful country to foreigners,” said Najafizadeh. “Malaysia has so much to offer all walks of life. From entrepreneurs to retirees, Cabana Worldwide provides services to help anyone and everyone enter Malaysia with a readiness to succeed and enjoy the country.”

Learn More

If you would like to learn more about Cabana Worldwide and its program and services, visit: http://www.cabanaco.com/, email: info@cabanaco.com, or call: +603 23002485

Cabana Worldwide

Cabana Worldwide is a company established by property and business consultant professionals with a clear vision of how to provide world-class services. The group, having its substantial presence in Malaysia (Kuala Lumpur) and Dubai has an excellent understanding of local economies, laws, and procedures. This enables Cabana Worldwide to provide full assistance throughout every step of our service programs.

Cabana Worldwide specializes in property and business consultation, and aims to establish itself as the market leader in international business and property consultation. Due to the vast experience and resources at the disposal of our staff, the company is able to offer clients assistance in all aspects of property consultation, property management, offshore and (Sendirian Berhad) company formation, financing consultation, and the MM2H Program in Malaysia.

Cabana Worldwide strives to help its clients excel and our people respond successfully to an ever-changing business environment. We also look to remain competitive and deliver premium services to our clients. Cabana Worldwide draws on the unparalleled expertise of its staff and aims to over-deliver on results.

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