The ISO code of Malaysia is MY according to the ISO 3166 standard. The local name of the country is the same as its English name. Malaysia capital city is Kuala Lumpur (official, legislative and royal); Putrajaya (administrative and judicial). People in Malaysia speak the Malaysian language. On 9 August 1965, Malaysia emerged as a sovereign political entity. In the year 08/09/1965, 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 (approx. 127,723 mi²). Malaysia is not a landlocked country. It means that is is bordered by at least one major body of water.
Malaysia is located in 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 32,042,458 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 rather diverse according to a fractionalization scale which for Malaysia is 0.588. Malaysia has approximately 2514243 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 majority 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 the 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, and it was located in Jalan Bukit Bintang, Kuala Lumpur. 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 to be a large nation because of its total area. Its total land area is 330,803 km² (approx. 127,723 mi²). Malaysia is located in 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, and Thailand. Total length of land borders of Malaysia is 2742 kilometers (~1,059 miles).
The highest point of Malaysia is Gunung Kinabalu, with its official height being 4095 m (13,436 ft). Including land mass and EEZ, the total area of Malaysia is approximately 665,474 km² (~256,940 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. 3.4% of population in the country are unemployed. The total number of unemployed people in Malaysia is 1,089,444. 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 50% of the country's Gross Domestic Product (GDP), as assessed in 2014. 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 -rubber and oil palm processing and manufacturing, petroleum and natural gas, light manufacturing, pharmaceuticals, medical technology, electronics and semiconductors, timber processing, Sabah -logging, petroleum and natural gas production, Sarawak -agriculture 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 0%, and the ratio of consumer spending to the world consumer market is 0.37. 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. VAT in Malaysia is 6%, and it is known as GST. In 2013, Malaysia received 15.3 million USD in foreign aid.In 2014, the 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. It indicates a satisfactory quality - roads, railroad, ports and other facilities are able to handle significant traffic at all times and are also suited to various types of transport vehicles and vessels.
In Malaysia, 100% of the population has access to electricity. There are 422,470 internet hosts in Malaysia. Malaysia has 114 airports nationwide.
The logistics performance index of Malaysia is 3.59. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.
Tracking possibilities for shipments are rated at 3.58. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.
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. Citizens in Malaysia experience partial freedom. While the majority of citizens are able to exercise their free will to a certain extent in Malaysia, some political engagement may be limited and certain population groups may be excluded from certain freedoms or expressions. The head of the government is Muhammad V.
According to the World Bank Group, the government effectiveness index of Malaysia is 1.14. This indicates that the government of Malaysia is effective. Citizens enjoy well-organized public and civil services, and government efficiency is high. While some services may be lacking in certain areas, the overall environment fostered by government legislation is favorable.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. Overall, it is considered to be rather adequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available. In 2013, Malaysia received 15.3 million USD in foreign aid. In 2014, the 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. 195200 km² of Malaysia's territory is covered in forests. and forest land comprises 59% 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.