Malaysia has been recognised as an ideal tac and transfer pricing expat destination for those considering moving to Asia to focus on their tax career.
The exotic country is one of Asia’s hidden gems, located in its South-eastern territory. Malaysia is highly attractive to tax professionals seeking a career overseas for the following reasons:
- Its fast-developing major cities
- Relatively high standard of living
- Good healthcare
- Variety of international schools
- Competitive job opportunities
Malaysian Economy and Opportunities for Expats
Malaysia’s recently industrialised market economy is identified as one of the most successful in Asia. This market focuses on two key sectors – international trade and manufacturing. Key multinational businesses operate in the country due to the lower operational costs involved, offering tax experts a wide range of career opportunities and potential for professional development.
Impressively, Malaysia has been ranked as the 6th friendliest country in the world to do business, according to The World Bank’s (2014) Report, ranking higher than the UK and Australia.
Malaysia is divided into two different geographical regions, separated by the South China Sea. The first region is known as Peninsula Malaysia, or West Malaysia, while the second one is referred to as East Malaysia and consists of the Sarawak and Sabah region of Borneo Island and thirteen diverse states. Bear in mind that although East Malaysia occupies larger territory and is significantly rich in natural resources, it is less developed and less populated than is West Malaysia, which includes the cities of Kuala Lumpur and Penang.
The well-known Kuala Lumpur is the capital and largest city in Malaysia. It is the financial, cultural and economic centre of the country and a major destination for international air travel.
Kuala Lumpur attracts millions of tourists all year round, and is commonly known for its luxury shopping malls, high-end restaurants and beautiful markets. It offers tax and transfer pricing expats an energetic and diverse lifestyle and has been identified as Asia’s most expat-friendly city by Internations.
Languages in Malaysia
The national language of Malaysia is known as Malay, or Malaysian. Since Malaysia is so diverse, there are many other languages and dialects spoken. English is among the most widely spoken languages as it is mandatory for Malaysians to learn it at school. Aside from Malay and English, Hokkien, Cantonese, Hakka, Teochew, Hainanese, Tamil, Telegu, Malayalam, Punjabi, Hindi, Gujerati and Urdu are other common Chinese/ Indian dialects spoken in the country.
Weather and Climate
The climate in both distinct Malaysian parts is relatively similar, with tropical weather all year round and temperatures ranging from 20°C to 30°C.
Bear in mind that the monsoon season in Malaysia varies depending on the region. While the southwest region experiences it from May to September, the monsoon season in the northeast takes place between November and March. The ideal climate (especially for beach holidays) can be enjoyed during January and February on the west coast, April in Sabah and June and July on the east and in Sarawak.
Must-See Places in Malaysia
Malaysia offers world-renowned attractions that can make your stay immeasurably rewarding. Some of the most remarkable sites include the tallest twin towers in the world, the pristine waters of the east coast at Pulau Redang, the Sky Bridge, Penang Hill, Kinabalu National Park and many more…
Malaysia is an exciting tax and transfer pricing expat destination, attracting numerous foreign businesses and investors and offering warm reception for tax professionals choosing it as their home.
If you are interested in a move to Malaysia or anywhere else in the world and would like to speak to Kingpin International about International Tax Opportunities, please contact a member of the leadership team. Alternatively, please browse our current international tax vacancies.
We also have some other blogs which explore Malaysia in further detail. Check them out below:
- Relocating to Malaysia: Expat Communities
- The Cost of Living in Malaysia for International Tax Expats
- Top Three Places for Tax Expats to Live in Malaysia