In 2010, Malaysia launched the New Economic Model (NEM) and the Economic Transformation Program (ETP), which aim to lift the country into the rank of a high-income nation by 2020. Based on the new strategy, Malaysia fosters the economy through the implementation of market-friendly policies and regulations with the aim of creating new sources of growth and promoting higher value-added sectors. Taking into consideration of the ease of doing business, talent development and improving public service delivery, Malaysia is turning into an increasingly attractive place for businesses. However, there are a number of important considerations to be mindful and compliant with when it comes to legal procedures to establish a legal entity in Malaysia. NNRoad with its local experts will help guide you with the smooth and fastest solutions for you to be ready to set up your legal entity.
If you are looking to expand your business into Malaysia, the easiest, most flexible and cost-effective way to do enlarge your business in the Malaysian market is using an Employer of Record solution. This solution is the best to suit for companies that have no legal entity set up in Malaysia or want to test Malaysian market without making a relatively large commitment of minimum capital, or do not have knowledge of Malaysia labor law. Because of these reasons, NNRoad will act on your behalf as a legal employer for you to effectively employ staff immediately to perform key duties without the need to incur the cost, commitment and time delays associated with setting up an entity.
Malaysia, the next big hurdle is the process of actually hiring staff and dealing with the associated payroll obligations. Hiring, and the associated legal obligations that go along with it, can be a confusing process. Due to the complexities of the payroll and HR-related problems, many companies in Malaysia rely primarily on outsourced providers such as NNRoad when it comes to payroll and HR related. NNRoad provides payroll and employment-related support services in Malaysia to an endeavour to provide a one-stop integrated service package to small and medium-sized businesses. We make payroll and HR management easy for you in terms of processing payroll, taxation, social labor security matters, as well as offering additional advice and guidance for any inquiries. We perform service with great confidence in its rigorousness and speed to obtain the benefit for your employees, stress-free about ever-changing labor law, and administrative relief.
Managing accounting and bookkeeping in Malaysia can prove to be a time consuming and constantly changing area of compliance. For a foreign company, adapting to Malaysia accounting system with ever-changing standards and policies can be a real challenge. NNRoad with its local expert can act as your accounting mentors with professional and high skilled accountants and CPA to ensure your company are in compliance with all updated standards and policies.