There are a number of highly attractive incentives available to investors. These include tax breaks of up to 100% for 5 years, substantial investment allowances and exemptions from duty on capital equipment for use in your business. For more information, please visit this page.
Our RECODA consultants will recommend relevant incentive schemes and give you detailed help in preparing your applications for these incentives.
Yes. One major advantage of doing business in Sarawak is the fact that foreign companies may freely transfer profits overseas, once they have complied with their tax obligations.
Foreigners can own 100% of a company in Malaysia. If you intend to do business with government departments, however, you will need to be licensed and have local Bumiputra (ethnic Malay) participation of at least 30%. Please contact us for more information.
At some stage, you will need to set up a Malaysian company. The process is quick and straightforward, usually taking no more than a week, and RECODA will be happy to help you do this. For information on the different types of company structure and the procedure for setting up a business in Sarawak, please visit the Companies Commission of Malaysia website or email RECODA and we will be pleased to advise and help you.
Any Malaysian company that involves foreign investors must apply for Foreign Investment Committee approval. RECODA will assist with your application, which will not normally be turned down unless the circumstances are exceptional.
There are some minor administrative fees to be paid, depending on the scale of the company you are setting up.
RECODA is dedicated to helping foreign and domestic companies that want to launch or expand their businesses in SCORE. We do this by offering free and comprehensive assistance, arranging and hosting investor visits to SCORE, setting up meetings with the relevant federal or state authorities, gaining approvals, acquiring licenses, visas and permits and providing continuing advice and support, even after a new investment project is up and running. Among the services we provide are:
- Free advice about locations within SCORE and the potential business opportunities in each area
- Key information on regulations and how they affect you
- Fast-track help to get your business started
- Assistance with acquiring sites and recruiting staff
- Sector information and introductions to key business networks
- Introductions to potential strategic partners in Malaysia
- Ongoing support to companies once they are established.
To register with RECODA, just send us an email with an expression of interest. We will contact you directly to discuss your project.
SCORE does not provide direct funding to investors, but the state government is always looking for opportunities, which may involve GLCs (government-linked companies in which the country or state has a shareholding). RECODA’s consultants can provide informed advice on potential sources of finance.
If the investment is from a grouping, region or country that has an Investment Guarantee Agreement with Malaysia (a list that includes the ASEAN countries, China, most of Europe and the USA) your investment will be protected against nationalisation.
You would be promptly and adequately compensated in the unlikely event of nationalisation or expropriation. Malaysia will also provide free transfer of profits, capital and other fees and ensure settlement of any disputes under the Convention on the Settlement of Investment Disputes, of which Malaysia has been a member since 1996.
SCORE covers a very large land area and each growth node has been chosen for its accessibility and suitability for the 10 key industries that have been identified as priority sectors.
These 10 sectors include aluminium, glass, steel, palm oil, timber, oil-based industries, marine, tourism, livestock and fishing and aquaculture (for more details, see this page). Even if you operate outside these core industries, do contact us, as we can still help you find the right land for your business project.
Sarawak is a patchwork quilt of multiple races, cultures and religions. This fascinating mix of people has created a vibrant and sociable environment, awash with exciting events, festivals and celebrations.
There are many bars and restaurants and the collision of so many different cultures has given birth to a range of culinary delights. The weather is warm, the cost of living is low and there are good international schools and private hospitals staffed with doctors trained in Japan, Europe, Australia and the USA.
English is spoken almost everywhere and is the language of choice in both business and social environments.
RECODA can help you through all the necessary immigration formalities, including arranging visas and work permits for expatriates and their families. For more information on immigration, visas and permits, please refer to the immigration website here.