A financial company in Malaysia deals with a wide range of financial services or products. Overall, the financial companies set up here refer to banking industry, insurance companies, savings or pension institutions and other associated sub-fields. Investors who want to register a company in Malaysia, which has as a business activity any type of financial service, must respect various regulations in this sense. However, the company must be incorporated under one of the legal entities available here and our team of company incorporation representatives in Malaysia can provide more details on this matter.
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Types of banking institutions in Malaysia
The banking industry in Malaysia is comprised of several types of banks. Those who are interested in company formation in Malaysia can choose from the following types of banks:
• commercial banks;
• Islamic banks;
• investment banks;
• other types of institutions, providing related services.
The main types of services provided by a bank in Malaysia refer to the lending of various sums of money to both natural persons and legal entities. Persons can open a bank account which can be used for various purposes.
The investment banks available in Malaysia are entitled to issue and sell securities and to intermediate the relations between the state’s authorities and private or public legal entities. Moreover, they can be involved in various matters, such as the mergers and acquisition processes and our team of company formation agents in Malaysia can offer more details on this procedure.
Insurance companies in Malaysia
Another type of financial activity in Malaysia refers to the insurance field. Businessmen who want to open a company in this sector are advised to study the applicable law. As a general rule, insurance companies provide financial protection for various types of matters referring to the insurance of life or property. The local legislation allows the incorporation of businesses that provide intermediary services in this field, such as brokerage companies.
Feel free to work with our CPA in Malaysia and discuss the services you can benefit from for your firm. We mention among these the payroll services for the distribution of salaries in the company, bookkeeping for the registration of financial inflows and outflows in the company, audits for the financial verification of the company, and support for the registration given the payment of related taxes. Investors of caliber can also receive support to implement tax minimization methods, depending on the plans they have.
We invite businessmen to contact our team of company incorporation specialists in Malaysia for more details on how to open a financial company here.