The ISO code of Malaysia is MY according to ISO 3166 standard. The local name of the country is Malaysia. Kuala Lumpur (official, legislative and royal); Putrajaya (administrative and judicial) is the capital city of Malaysia. The official language of Malaysia is Malaysian. On 9 August 1965, Malaysia emerged as a sovereign political entity. The largest cities in Malaysia are Kuala Lumpur, Putrajaya.
Malaysia is located in the UTC +08:00 time zone, which is also called Malaysian Standard Time or MST. The internet country code top-level domain (ccTLD) for Malaysia is .my. Other domains assigned to Malaysia are مليسيا, .asia. The International dialing code for Malaysia is +60. People in Malaysia drive on the left side of the road. Total land area of Malaysia is 330 803 km2. Malaysia is not a landlocked country.
Malaysia is located in the south-eastern part of Asia. Malaysia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Malaysia faces various issues including air pollution from industrial and vehicular emissions, water pollution from raw sewage, deforestation, smoke/haze from Indonesian forest fires.
Doing business in Malaysia
We offer various corporate services in Malaysia jurisdiction. These services can serve both, people coming from Malaysia and foreigners. If you plan on doing business in Malaysia you might be interested in contacting us.
To find out about starting your business in Malaysia click on company formation in Malaysia.
To find out how to open a bank account in Malaysia and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Malaysia.
Choose preferred service below or continue reading to find out more about Malaysia.
Demographics of Malaysia
The total population of Malaysia is 30 758 200 people. In Malaysia, the population density is 93 people per square kilometer (242 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is divided according to a fractionalization scale which for Malaysia is 0.588. Malaysia has 2 469 173 million foreign immigrants. The median age is approximately 27.7 years. In Malaysia, 65.8 in every 100 people use internet. Malaysia has a Human Development Index (HDI) of 0.773.
The main religion of Malaysia is Islam. Malaysia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Malaysia.
Culture of Malaysia
People in Malaysia speak Malaysian language. According to data on inbound tourists in Malaysia, 25 715 000 tourists arrive in the country each year. The first McDonalds in Malaysia was opened on 29 April 1982 One of the most popular national dishes of Malaysia is nasi lemak. To read more click on culture of Malaysia.
Geography of Malaysia
Malaysia is considered a large nation because of its total area. Its total land area is 330 803 km2 (approx. 127,724 mi2). Malaysia is located in the south-eastern part of Asia. Its capital city is Kuala Lumpur (official, legislative and royal); Putrajaya (administrative and judicial). Malaysia has 3 neighbouring countries. Its neighbours include Brunei, Indonesia, Thailand. Total length of land borders of Malaysia is 3147,00 kilometers (~1,955 miles).
The highest point of Malaysia is Gunung Kinabalu with its official height being 4095 m (13,435 ft). Including land mass and EEZ, the total area of Malaysia is approximately 665 474 km2 (~256,941 mi2). The most notable natural resources found in Malaysia are tin, petroleum, timber, copper, iron ore, natural gas, bauxite. To read more click on geography of Malaysia.
Economy of Malaysia
The currency of the country is Malaysian ringgit. The symbol used for this currency is RM, and it is abbreviated as MYR. 3% of population in the country are unemployed. The total number of unemployed people in Malaysia is 922 746. Each year, Malaysia exports around $230.7 billion and imports roughly $192.9 billion. The Gini Index of the country is 46.2. Malaysia has a Human Development Index (HDI) of 0.773. The Global Peace Index (GPI) for Malaysia is 1.561. Malaysia has a government debt of 55% of the country's Gross Domestic Product (GDP), as assessed in 2012. Malaysia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are Peninsular Malaysia nullrubber and oil palm processing and manufacturing, petroleum and natural gas, light manufacturing, pharmaceuticals, medical technology, electronics and semiconductors, timber processing, Sabah nulllogging, petroleum and natural gas production, Sarawak nullagriculture processing, petroleum and natural gas production, logging.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Malaysia is $ 769 448 billion. Each year, consumers spend around $160 102 million. The ratio of consumer spending to GDP in Malaysia is 64%, and the ratio of consumer spending to the world consumer market is 0%. The corporate tax in Malaysia is set at 25%. Personal income tax ranges from 0% to 26%, depending on your specific situation and income level. In 2013, Malaysia received 15.3 USD in foreign aid. In 2014, their foreign aid amounted to 32.1 USD. To read more click on economy of Malaysia.
Infrastructure of Malaysia
Infrastructure quality in Malaysia is rated to be at 3.56. In Malaysia, 100% of the population has access to electricity. There are 422 470 internet hosts in Malaysia. Malaysia has 114,00 airports nationwide. The logistics performance index of Malaysia is 3.59. Tracking possibilities for shipments are rated at 3.58. To read more click on infrastructure of Malaysia.
Politics of Malaysia
Malaysia is a federal parliamentary constitutional monarchy, elective monarchy. With regard to political and civil freedoms, Malaysia is 2. The head of the government is Abdul Halim.
According to the World Bank Group, the government effectiveness index of Malaysia is 1.14. In Malaysia, the legislative power is vested in a parliament. The Global Peace Index (GPI) for Malaysia is 1.561. The strength of legal rights index for Malaysia is 7. In 2013, Malaysia received 15.3 USD in foreign aid. In 2014, their foreign aid amounted to 32.1 USD. Malaysia is a member of the United Nations (UN). On 17 September 1957, it joined the UN as a full member state. Malaysia is a member of the World Bank. To read more click on politics of Malaysia.
Environment of Malaysia
Malaysia emits 7.9 metric tons per capita of CO2. 195 200 km2 of Malaysia's territory is covered in forests, and forest land comprises 60% of all the land in the country. To read more click on environment of Malaysia.
Company formation in Malaysia
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Malaysia.
When establishing a company in Malaysia, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Malaysia that will affect the establishment and growth of one's business. Contact us or click on company formation in Malaysia to read additional information when setting up a business.
Bank account opening in Malaysia
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Malaysia. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Malaysia, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Malaysia or contact us.