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Home » Guide To Start Management Consultancy Business In Malaysia

Guide To Start Management Consultancy Business In Malaysia

GUIDE TO SET UP MANAGEMENT CONSULTANCY BUSINESS IN MALAYSIA

Are you considering setting up your own Management Consultancy Business in Malaysia but aren’t sure how to get started? Our free Guide to Start Management Consultancy Business in Malaysia below can help you gain further insight.

Consulting opportunities for the New and Fast in Malaysia and the Asean

New fast-paced businesses are putting across new demands on the table. They are highly ambitious, innovative and are early-adopters (if not creators) of technology. Their business models have just bare minimum semblance to traditional businesses. As they discover the undefined turfs of their business, they need the best expertise to get their analytics and predictions right but they cannot afford to pay the skyrocketing prices that the traditional consulting firms (such as KPMG, Mckinsey & Co, Inc., Bain & Co, Gay Group) charge. They often choose to hire Independent Management Consultants at competitive costs.

If you have the expertise in Business Expansion & Acquisitions, Financial Management, Marketing Analytic, Human Resources Optimization and Planning, Production and Public Relation services, you should seriously consider setting up your Management Consultancy business in Malaysia. These businesses, mainly SMEs have tremendous growth potential in Malaysia. SMEs contribution to the country’s GDP is expected to increase to 42% by 2020 from 39.5% in 2015… (Source: Borneo Online). The potential market for Management Consultancy business in Asean is even greater and tremendous with the coming interconnect economy thru Asean Economic Council (AEC), existing businesses or new ones would hunger for Management Consultancy services to assist them to expand quickly into Asean countries.

5 main reasons why foreigners choose Malaysia as their business hub to start the Management Consultancy Business:

* Located at the heart of ASEAN, Malaysia offers a perfect gateway to the AEC economy with a regional market of over 630 million people – Ideal base for companies seeking to extend operations not only into Malaysia itself but also throughout the entire region.

* Malaysia is rich in natural resources, home to a large population offering attractive consumer market potential, and capabilities in diverse economic activities which includes high-value service industries such as banking, telecommunications, oil and gas, healthcare, education and tourism.

* Diverse human resource and multilingual professionals competent in English at ease to conduct business made it easy to move around with no language barrier.

* Lower start-up cost and cost of living vis-à-vis other major regional cities.

* Pro-business government which supports ease of doing business and open markets – Wide range of tax incentives, relaxed immigration policy and incentives for Expatriates, Comprehensive communication and transportation infrastructure, a well-developed system of jurisprudence and regulatory structure supportive of business.

Starting a Management Consultancy Services in Malaysia can be made via 2 options:

Option 1: Malaysian Sdn Bhd (private limited) company
To start a Management Consultancy Business via Malaysia Sdn Bhd company, the incorporation can only be made through a locally joint-venture corporation with Malaysian individuals or Malaysian controlled corporations or both; and Bumiputera shareholding in the joint-venture corporation is at least 30%. (Find out: Guide to local Malaysia company incorporation Sdn Bhd)

Option 2: Labuan International Company
There is no restriction in terms of ownership and licenses required via Labuan Company to start the Management Consultancy Business. The Labuan tax system is easier to manage where you can opt to have 2 choices of tax system under a single entity. This is especially good for entrepreneurs conducting businesses internationally and in Malaysia. [Read: Key advantages of Labuan Company, please click here]

Employment of Expatriates for Your Management Consultancy Business in Malaysia Comparison:

Key Elements Labuan Company Local Sdn Bhd Company
Ownership 100% foreign eligible 100% foreign eligible
Structure Single Person- Director and Shareholder Single Person- Director and Shareholder
Paid Up Capital USD 1 minimum RM 1million minimum
Corporate Tax 3% 24%
Trade License for import, export, trading and consultancy No license Wholesale, Retail Trade License
Work Permit 2 years’ renewable multiple entry 2 years’ renewable multiple entry
Expatriate Monthly Salary Minimum RM10,000 with 50% tax rebate (until Year 2020) Minimum RM5,000
Director Fee Tax exempt until Year 2020 0 to 28%
Withholding Tax Not applicable 5 to 15% depends on types of service rendered

Companies providing Management Consultancy Services in Malaysia may employ expatriates of 2 years’ multiple entry work visas together with his family. For Malaysian Sdn Bhd Company, key posts can be considered if foreign paid-up capital is minimum RM1 million while the Labuan International Company paid-up capital requirement is min. RM250,000 only. Spouse and children of expatriates can apply for (two) 2 years’ Dependent Passes once the Expatriate obtains the Employment Pass. For more information on the advantages of Labuan Work Permit, please click here!

Connect with us today! Our business Consultants will guide you every step of the way from Market Intelligence to Company Incorporation, application of Employment pass and other company’s support services – one-stop solution to assist you for your Management Consultancy Business in Malaysia! We “simplify your investment in Malaysia”.

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    • Investing in Malaysia
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      • Malaysia New Company Act 2016
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      • FAQ on Registration of Malaysian Company by Foreigners
      • Major Problems Faced by Foreigners Setting Up Malaysia Company
      • Complete Business Licences for Malaysia Sdn Bhd Company
      • Types of Malaysia Industry Licenses for Foreigners
      • Wholesale Retail Trade WRT License in Malaysia
      • Setting up a Labuan International Company in Malaysia
      • Setting up a Representative/Regional Office in Malaysia
      • How to Start Restaurant Business in Malaysia
      • How to Start Hotel Business in Malaysia
      • Guide To Start Management Consultancy Business In Malaysia
      • Guide To Start Legal Services Company in Malaysia
      • Guide to Start Market Research Company in Malaysia
      • Guide to Start Advertising Agency in Malaysia
      • Starting A Franchise Business in Malaysia
      • Setting up a Brand New International Franchise in Malaysia
      • Various Types of Malaysia Work Permit for Foreigners

    Taxation Matters

    • Difference Between Labuan International Company and Malaysia Sdn Bhd
    • Taxation for Foreign Owned Sdn Bhd Company
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    • 2018 Personal Tax Incentives Relief for Expatriate in Malaysia

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