Malaysia might not traditionally be one of the top global business hubs but the nation is rapidly growing in attractiveness for employers, employees, and recruiters alike. Ranked at the 12th position by the World Bank in its latest Ease of Doing Business rankings, the pro-business government policies, liberalisation programmes, and infrastructure are among the top reasons for expanding to Malaysia. While Malaysia is among the fastest-growing economies in Southeast Asia, its capital Kuala Lumpur is one of the most rapidly expanding metropolitans in the region.
Top Reasons to Expand to Malaysia
For Businesses
One of the biggest advantages of starting or expanding your business in Malaysia is its strategic location. Not only is the country a member of the Association of Southeast Asian Nations (ASEAN), but it also offers easy access to the rest of Asia and Australia. The ASEAN alone gives access to a vast population of more than 660 million people. Plus, the nation is known for its abundant seaports, which makes it attractive for businesses reliant on ocean-based shipping. Another key benefit for foreign businesses is the lack of language barriers, unlike most other Asian nations. While Malay or Bahasa Malaysia is the official language, English and Mandarin are widely spoken. In addition, the nation offers a wide talent pool of skilled and educated youth, with most young people being multilingual.
For Recruitment Agencies
Apart from access to a skilled workforce, recruitment agencies can benefit from occupational shortages in the country. For instance, according to the statistics released by the Malaysian government, industries facing the most shortages include wholesale and retail trade, manufacturing, food services, construction, scientific and technical activities, and repair of motor vehicles, among others. Moreover, the tech industry in the nation is booming, leading to a rising demand for tech professionals.
For Contractors
Under the 2023 Budget, the Malaysian government made important proposals to attract investments and create jobs in various technology sectors. This opens up a plethora of opportunities for job seekers, recruitment agencies, and businesses. Another reason why Malaysia is an attractive destination is its low cost of living. In fact, Mercer ranks Kuala Lumpur at 181 out of the 227 most expensive cities to live in. Plus, the Employment Act of 1955 lays down the employee benefits that employers in Malaysia need to ensure, including annual paid leave, sick leave, medical and dental insurance, education assistance, and remote working benefits.
How Does Access Financial Help?
Access Financial is a global leader in providing Employer of Record (EOR), contract and payroll management services, and umbrella services. With compliant and customised services for corporates, recruitment firms, and contractors, we offer a comprehensive suite of services in Malaysia, minimising your legal and financial liabilities. We keep a close eye on the emerging business landscape and evolving regulatory frameworks to ease entry into and ongoing operations in the country.
Our aim is to save you time, costs, and stress, ensuring a smooth experience of setting up an enterprise and dealing with local employment laws and obligations.
Services for businesses and recruitment agencies
- Consultation for choosing the most suitable company structure.
- Assistance in obtaining the required licences.
- EOR and PEO services.
- Fast onboarding.
- Ensuring compliance with employment laws.
- Minimising tax liabilities.
- Customised payroll management.
- Administrative support.
Services for contractors
- Contract administration
- Work permit and immigration assistance.
- Ensuring compliance with employment laws.
- Boosting take-home income.
- Health insurance coverage (if applicable).
For any assistance or queries, call us at +601 66999095, or email us at [email protected].
To learn more about our services in Malaysia, check our Malaysia Country Guide.
FAQs
Here are some questions we are commonly asked about expanding to or working in Malaysia.
Question: I’m a UK company that wants to hire a contractor from Malaysia. Can you help me with the paperwork?
Answer: Yes. Access Financial takes care of all aspects of hiring a foreign contractor in Malaysia, including obtaining the necessary visas and work permits. We also offer consultation regarding Malaysian employment law to ensure compliance.
Question: I’m an Australian company that wants to expand to Malaysia. How can you help?
Answer: Access Financial can help you with all aspects of setting up a Malaysian subsidiary, including procuring the necessary licences, registering your business, and setting up your HR and payroll systems. We also offer advice on Malaysian tax and employment law. With over 20 years of experience in providing EOR and PEO services in over 60 countries, we have deep insights into the Malaysian market. We are committed to offering our clients seamless experiences of doing business or relocating to a foreign destination.
Question: I’m a professional contractor. Can you help me with a work visa and permit for Malaysia?
Answer: Absolutely. We can assist you in procuring an Employment Pass, Temporary Employment Pass, or Professional Visit Pass, whichever is applicable in your case.