Guide to Start Online Business in Malaysia
Many online businesses should consider setting ups in Malaysia. For one, Malaysia at in the center of the Asia Pacific region where growth and many significant changes are happening. The demand for goods and services are rising and its great for online business.
With the Asean Economic Cooperation (AEC) kicking off early 2016, Malaysia will be the hub for your business to reach out to the 630 million population. Asean is a fast growing economy and the potential is great. Online business is still at an infancy stage for some countries like Cambodia, Laos, Vietnam and Myanmar. Through Labuan Company, you can easily propel your business into a regional powerhouse.
An online business is borderless and it has no limits on where and how you can do business. The smart thing to do is not to be limited by a onshore jurisdiction. Onshore jurisdiction is good for businesses based on the old, geographically and it is a limited mode with higher tax.
Labuan is a MidShore Jurisdiction!
When doing an online business, you should choose a mid shore jurisdiction like Labuan. Labuan International Business and Financial Centre (LabuanIBFC) is a “mid shore” jurisdiction where you can get all the offshore advantage with an onshore reputation. “Mid shore” also give a flexibility and larger market, where you are permitted to tap into Malaysia market as well as stay in Malaysia with a valid visa to run your business. [Check out more on Labuan Company for multipurpose!]
The advantages of setting your online business with a Labuan Company is as follows:
1) Labuan Company formation allows international businesses to conduct trade in a more efficient manner. The tax levied is 3% of audited net profit or pay flat fee of RM20,000 tax on unlimited profit made.
2) Labuan Company is tax efficient meaning young business set ups with international business can reinvest their profits to more productive use.
3) Labuan has many onshore and offshore banks that allow businesses to receive and settle in Malaysian Ringgit and foreign currencies. This eliminate the exchange risk for the business.
4) Lower costs for new online business start ups. Ability to stay in Malaysia with Labuan 2 years’ multiple entry visa to enjoy reasonable cost of living with tax flexibility of the Labuan company!
5) It is common for online businesses to face ever changing business landscape when their business expands internationally. You have the choice to switch your business focus to local Malaysia market and yet own 100% of your company!
6) Labuan being an international financial centre and it is a “mid shore” jurisdiction allows you to optimise your market base with confidentiality plus able to mitigate financial risks and legal risk.
7) It is a fact that Online Business will enjoy exponential growth. During the growth phrase, more fund needs to be raised and even more complex corporate structures to be set up. As a Labuan trust company, we provide assistance to help you cope with the growth of your online business for fund raising needs.
We offer comprehensive service to assist you to launch your Labuan Online business as follows:
* Advisory on the right entity and structure to incorporate the business
* Immigration application for 2 years’ Labuan work visa for your convenient travel in and out of Malaysia with multiple family members
* Helping you with all necessary filing and annual compliance while you can concentrate on your business
* Assist you in engaging office space and secretarial solutions in Labuan for tax proofing purposes.
Send us your enquiry today to find out if Labuan entity is suitable to meet your objective. We “simplify the complexities” of your business investment.