The number of foreign companies investing in Southeast Asia is set to increase rather sharply over the next ten years. With so much money and potential being directed into this market, it has become a prime destination for startups and entrepreneurs.
There are several key tax benefits to lure foreign business owners in, particularly in the major cities like Kuala Lumpur. It is considered to be one of the best spots on the continent for young companies right now. It has a thriving consumer market, plenty of skilled graduates, and some superb office rental opportunities.
Keep reading to find out why you should be launching your business from a flexible, virtual office in Kuala Lumpur.
Finding a Home Is Easy
Setting up a new business overseas is easier than you might think, particularly in a place like Kuala Lumpur, where rental options are varied. In some parts of the city, costs are very high, and these tend to be most sought after areas.
However, one clever way to secure them, for a lower price, is to register with a virtual provider. Visit www.servcorp.com.my/en/virtual-offices/ to find out more about the benefits of sharing an office with fellow entrepreneurs.
The Economy Is Strong
The economy in Malaysia is considered to be one of the most stable in the world. It has had an average annual growth rate of 5% for quite some time now, which is very impressive compared with the insecurity of other big markets.
The government is now stepping up its game and making sure that foreign investors know this. It has created new funding initiatives for start-ups, and certain industries get to enjoy significant tax incentives. It helps that its commercial real estate is of a very high quality too.
Educated, Skilled Labour
The labour force in the country – particularly in major urban environments like Kuala Lumpur – is more impressive than most entrepreneurs realise. In fact, there’s a very high level of education in Malaysia, but a lack of compatible jobs. So, valuable skills are going to waste, and smart business owners have their pick of the best if they expand into the country.
Virtual workspaces are a fertile ground when it comes to recruitment. They bring together people from all kinds of backgrounds. There are copywriters, editors, graphic designers, marketers, corporate strategists, and more. Just signing up with a virtual provider is an opportunity to meet individuals who could help develop your company.
Fast Growing Infrastructure
While the infrastructure of countries like Malaysia is not as strong as New York, London, or Sydney, it is growing at a remarkable rate. Don’t forget that the biggest successes are enjoyed by businesses which identify markets right on the cusp of a commercial explosion. Kuala Lumpur is a city poised for greatness over the next two or three decades.
The secret to making it big here is to arrive now when rent prices are still affordable, and there are market niches to be exploited. Entrepreneurs will find the people here very hard working. Malaysians can be more indirect than westerners, so getting used to new forms of communication is tricky at first, but companies are productive and efficient.
Looking for a Virtual Workspace in Kuala Lumpur
The most prestigious virtual offices can be found at Menara Citibank, the NU Tower 2, and the Ilham Tower in the heart of the capital city. These impressive addresses may not be privately rented by tenants, but they are encouraged to claim them as their own. You can have mail sent to a personal box at the facility and meet with prominent clients in their boardroom spaces.