Archives 2020

Company Registration Botswana

How to Do Company Registration in Botswana

ROCIP additionally has workplaces in Francistown, Serowe, and Maun. There are two stages to consolidate an organization and register a business: reservation of organization/business name, and accommodation of joining archives as portrayed beneath:

Reservation of Company or Business Name

Reservation of Company or Business Name

ROCIP requires a booking charge of P20.00 is endless supply of Form 1 for organization name and Form RBN1A for business name. The normal turnaround time is five days. An online information base of organization names can be gotten to forestall copies subject to confirmation by ROCIP. Follow the whole process to register the LLC company in Botswana, step by step.

Requirements for Company Registration

Requirements for Company Registration

Upon affirmation that the proposed organization/business name is accessible, Company enrollment structures should be submitted. They are accessible for download on the Ministry of Trade and Industry’s site

Forms require:

  • Chiefs’ own subtleties
  • Private location – plot number, area, ward, town or town; and
  • Full postal location.
  • On the off chance that a delegate is applying for the benefit of the candidate, a letter approving the agent should be submitted.

The following documents should be submitted:

documents
  • Structure 2 and Form 3 for an organization restricted by shares;
  • Structure 2A and Form 3 for a shut organization;
  • Structure 2B and Form 3 for an organization restricted by ensure;
  • Structure 3 (presentation) to be filled by a certified Company Secretary perceived by the Act or a Director/individual from an organization;
  • The individual introducing the application ought to give their location, phone or portable numbers in the spaces gave;
  • The individual introducing the application ought to join guaranteed duplicates of their character card or identification
  • Confirmed duplicates of character records for the proposed chiefs and investors and a rehearsing testament for the Company Secretary;
  • Two (2) unique bound arrangements of all reports are required
  • P360.00 enlistment charge of payable upon accommodation and acknowledgment of enrollment records
  • In the event of a business, name enlistment structure RBN 2 should be finished and submitted with a duplicate of the candidate’s personality archive and P150.00 enrollment expense.

It should be noticed that reservations business/organization names are just legitimate for 30 days and just substantial reservations are acknowledged for business/organization enlistments. On the off chance that over 30 days have slipped by, the business/organization should be saved again through the cycle recorded previously.

Read More:

Property Buying Process in Thailand in Details Discussion

Starting a Franchise Business in Malaysia as Foreigner

GENERAL ASPECTS OF THE INVESTMENT

Doing business in China

ALTERNATIVES FOR FOREIGN INVESTMENT IN CHINA. * PEOPLE’S REPUBLIC OF CHINA (“PRC” OR “CHINA”, EXCLUDING THE TERRITORIES OF HONG KONG, TAIWAN, AND MACAO).

A) Entities with personality jur í independent Dica

The most common foreign investment vehicle with legal personality are Limited Liability Companies (“LLC”).

On January 1, 2020, the Foreign Investment Law of the People’s Republic of China (“Foreign Investment Law) came into force, which simultaneously repeals the current legal framework of foreign investment and unifies the legal regime of foreign investment of the People’s Republic of China. applying both to wholly foreign capital companies (“WFOEs”) and to those in which foreign investment is made through a collaboration with a local entity (Equity Joint Ventures or “EJVs”).

Therefore, LLCs would include those companies that are owned by one or more foreign investors, as well as those made up of one or more foreign investors and one or more Chinese investors.

The main characteristics of an LLC are:

  • No minimum share capital, although it will depend on the type of business and local practices.
  • Contribution of capital in cash, in-kind, or with intellectual property rights, land use rights, or other non-monetary assets whose value can be evaluated in financial terms and whose ownership can be transferred following the law. Licenses are generally not accepted for foreign investors.
  • The governing body of a WFOE or EJV is the Board of Shareholders.
  • Shareholders exercise their voting rights at Shareholders’ Meetings in proportion to their respective contributions or by agreement between them as specified in the LLC’s bylaws.
  • The liability of the shareholders is limited to their respective capital contributions.
  • The benefit can be assigned following capital contributions or by agreement between shareholders if any.

B) Entities without legal personality 

Foreign investment vehicles without legal personality are Representative Offices (OR) and branches.

Common features:

  • Limiting the scope of your business and activities.
  • The ultimate responsibility for the obligations and responsibilities arising from activities in China is the head office.
  • The ROs do not have the capital or a Board of Directors. Relations with employees are organized through a specialized company. The activities of the ROs are limited to intermediation and market studies.

Branches are limited to a small number of industries and activities, mainly banking and insurance.

GENERAL FORMALITIES FOR THE INCORPORATION OF A COMPANY

The following guidelines constitute the general formalities for the incorporation of companies which can vary significantly depending on the type of company and other practical aspects.

  • Self-declaration of the name of the company (if applicable) and commercial registration before the Administration for Market Regulation (“AMR”) to obtain the Activity License;
  • Registration/approval of foreign investment by the Minister of Commerce (“MOC”) to obtain the Registration Receipt or Certificate of Approval;
  • Registration with other government authorities to obtain the necessary certificates for daily traffic and
  • Other authorizations and licenses after the constitution.

GENERAL ASPECTS OF THE INVESTMENT

A) Control of Foreign Investment: Control of Foreign Investment: The last negative list for foreign investment was published on June 30, 2019, which specifies restricted and prohibited foreign investment industries. Also, another catalog is applied in the Free Trade Zones, which establishes special administrative measures for foreign investment access to said zones. There are a total of eighteen Free Trade Zones (Shanghai, Tianjin, Fujian, Guangdong, Liaoning, Zhejiang, Henan, Hubei, Chongqing, Sichuan, Shanxi, Hainan, Shandong, Jiangsu, Guangxi, Hebei, Yunnan, and Heilongjiang).

GENERAL ASPECTS OF THE INVESTMENT
GENERAL ASPECTS OF THE INVESTMENT

Since the application of the Foreign Investment Law, foreign investment that does not appear on the negative list will receive national treatment, which means that it will receive the same treatment as a national investment.

B) Currency Control: The Chinese government imposes controls on incoming and outgoing capital flows. The registry of direct investment in foreign currency will be reviewed and managed by the banks and the State Administration of Foreign Exchange indirectly regulates said registry through the banks. Recent changes to capital controls include a restriction on the repatriation of profits and the transfers of outgoing investments.

TAXATION

A) Direct Taxation

Corporation Tax (“IS”)

Nature: Direct tax levied on the world income of Chinese companies, derived from production and economic activities, from Chinese and foreign sources.

Residence: A company will be resident in China if it is established in China or the effective management of the entity is in China.

Tax base: Total income less exempt and not subject income, allowable deductions, and negative tax bases that have not been offset in the last 5 years.

The tax base is calculated under the accrual principle.

Tax rate: statutory tax rate of 25% on taxable income generated worldwide. Reduced IS rates of 15% and 20% for new technology companies and small companies with low incomes, respectively.

Dividends and capital gains: Dividends paid by PRC companies to other PRC companies are exempt from IS.

Dividends paid abroad will be subject to a 10% withholding rate, without prejudice to the various agreements signed by China. This retention may benefit from a special deferral regime in the event of reinvestment in China, following its corresponding requirements in this regard.

Capital gains will be taxed at the rate of 25% of the IS for companies resident in China and 10% in the case of non-resident companies.

Special Regime: In general, tax consolidation is not allowed in China. Companies must submit their tax results separately, except in the case of headquarters and their local branches.

Formal obligations: The quarterly declarations of the IS will be presented according to accounting before the 15th day of the following month of each quarter.

The annual declaration of the IS will be carried out adjusting the accounting results following the Tax Law of the RPC before May 31 of the year following the fiscal year.

Personal Income Tax (“IRPF”)

Nature: Chinese residents are responsible for personal income tax for their worldwide income, while non-residents are only taxed on income from China.

Residence :

  • As of January 1, 2019, a natural person will be considered a tax resident in China when: (a) the individual is domiciled in China, or (b) the individual is not domiciled in China (“non-domiciled individual”), but remains in China for more than 183 days within a calendar year.

Tax rate: Earnings from work are subject to a progressive rate whose maximum is 45%.

Income from investments (such as dividends, interest, and capital gains) may be taxed at a fixed rate of 20%.

Eight income in kind could be exempt from personal income tax if certain requirements are met for foreigners who obtain income from work (“BIKs”), including accommodation expenses, food benefits, laundry expenses, relocation expenses, travel subsidies. , academic fees for minors and cost of round trip flights for visits to the place of origin. BIKs can be valid until December 31, 2021.

Otherwise, foreign persons, who are tax residents in China, can leave the BIK and choose to apply the additional special deductions (“Deductions”), including tuition fees for minors, education expenses, medical expenses for illnesses Serious, interest on home loans, rental expenses and eldercare.

BIKs and deductions cannot be applied simultaneously. The foreign individual will be able to choose between BIK or deduction, and such method cannot be changed during the fiscal year (that is, from January 1 to December 31).

Formalities: Personal income tax on monthly earned income will be withheld by the Chinese employer within 15 days of the end of the pay month.

If the income from China is paid in part or in full by a foreign company, which is a related party to the Chinese employer, the non-domiciled individual can choose to volunteer for himself (or herself) or entrust an employer in Chinese the presentation of personal income tax withholding.

If the non-domiciled individual does not trust the presentation of income tax withholding, the Chinese employer must inform the tax authorities, within 15 days of the end of the month of payment, about the individual’s employment contract, the income paid by the foreign company, and the individual’s contract information, etc.

The presentation of annual income tax will be made by tax residents during the period from March 1 to June 30 of the following year. The annual presentation of personal income tax is not required for non-residents.

B) Indirect taxation

Value Added Tax (“VAT”)

Nature and types of tax: It is an indirect tax levied on sales and imports of goods and services, intangible assets, or fixed assets located within the PRC. VAT taxpayers are classified as general taxpayers or small taxpayers, being subject to different tax calculation rules.

Different VAT rates apply depending on the nature of economic activities. The following VAT rates are effective as of April 1, 2019:

  • 13% for the sale of goods, processing and repair services, rental services of movable assets;
  • 9% for agricultural goods, transportation, basic postal telecommunications services, construction, rental of real estate assets, sales of real estate assets, and transfer of the usufruct of land, among others;
  • 6% for the rest of the services.

General taxpayers have the right to deduct input tax on purchases and to issue special VAT invoices. Small taxpayers, subject to a reduced rate of 3%, may request the competent tax authority to issue special VAT invoices on their behalf, but may not claim the tax credit.

Formal obligations: The frequency of VAT returns is determined by the competent tax authority. Most companies file quarterly or monthly VAT returns.

OTHER TAXES

Local tax surcharges

Local tax surcharges apply to VAT debts and consumption taxes.

The tax base is the total debt for VAT and consumption tax. The rates are determined by the local tax authorities.

The tax return is consistent with the deadlines for filing VAT and excise tax returns.

Documented Legal Acts (“AJD”)

The Tax on Documented Legal Acts applies to individuals and legal entities that issue or receive specific legal documents under the laws of the PRC.

Depending on the scope of the documents, the AJD rate may be a percentage.

Customs taxes

Customs taxes on imports and exports of goods, as well as on incoming items are calculated on the customs value.

Taxpayers are the recipients of imported goods, shippers of exported goods, and owners of incoming items.

Imported goods will also be taxed by VAT on imports and by consumption tax on imports, which are calculated on the customs value plus customs taxes.

The royalties related to imported goods and fulfilling certain conditions can be taxed under customs taxes.

Other taxes

Other taxes that we find in China are, for example, the consumption tax, on the increase in the value of land, documentary tax, tax on the occupation of agricultural areas, property tax, and land use tax.

SOCIAL SECURITY

The maximum contribution to Social Security and the rates are determined by the provincial governments. Consequently, contributions to Social Security may vary from province to province.

maximum contribution to Social Security

The maximum rates and contributions to Social Security in Beijing and Shanghai are as follows:

Maximum contribution:

  • 3,565 RMB in 2019 in Beijing.
  • 4,633 RMB in 2019 in Shanghai.

Types:

Beijing

  • Paid by employee: 10.2% + 3 RMB.
  • Paid by the employer: 30.8% -32.5% (depending on different categories of occupational hazards).

Shanghai

  • Employee paid: 10.5%
  • Paid by the employer: 32.2% -32.9% (depending on different categories of occupational hazards).

Social Security Treaties: Exceptions for certain Social Security contributions may apply to foreign investors and workers coming from countries with which China has signed Social Security treaties.

LABOR ISSUES

Local labor contractual requirements:

Written employment contracts will be signed wherever the employment relationship is established in China. The duration of employment contracts is classified as follows:

  • Determined duration;
  • Timeless; and
  • Completion of a specific task.

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  4. Starting a Franchise Business in Malaysia as Foreigner
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Property Buying Process in Thailand

Property Buying Process in Thailand in Details Discussion

Thailand is one of the most popular countries for overseas property investors in Thailand. In the past years, we’ve seen particularly strong demand from places like mainland China, Hong Kong, and Singapore.

What sets Thailand apart from countries like Vietnam, Cambodia, and Indonesia is that it has multiple long-term visas, a developed tourism industry, and a long history of welcoming foreigners.

In this article, we review the following topics for foreign real estate investors:

  • Purchasing a Condo in Thailand
  • Purchasing a Villa in Thailand
  • Step by step instructions to Finance a Property in Thailand
  • Getting a Mortgage as a Foreigner in Thailand
  • Getting an International Bank Loan
  • Property Taxes in Thailand
  • Property Prices in Thailand
  • Leasing Property in Thailand

Can foreigners buy property in Thailand?

Unfamiliar people are permitted to purchase 49% of the units in apartment suite ventures. The leftover 51% should be distributed to local people.

Furthermore, outsiders can possess layers named office units, with comparative guidelines as when purchasing condos. This isn’t normal however as there’s a scrace request.

Worth referencing is that you can likewise purchase and own actual structures, however not the land that these are based on. Be that as it may, there are approaches to get around this.

You can either rent the land or get it through a nearby organization (where the principal alternative is essentially simpler). We should survey the two choices.

Leasehold in Thailand

Leasehold in Thailand

Outsiders are permitted to rent land for a most extreme time of 30 years. You can at times reestablish the leasehold time frame up to multiple times.

Basically: leasehold implies that the landowner contracts you the option to involve their property during a particular time.

At the point when the leasehold has terminated, it very well may be reestablished or reworked. A typical method to guarantee a recharged leasehold period is to specify it in the agreement.

Buying Property Through a Thai Limited Company

Another choice is to set up a restricted organization to purchase land, which is mainstream in the US also. The property can from that point be bought through that organization.

The issue by going for this alternative is that outsiders can’t claim over 49% of a restricted organization in Thailand, aside from US-residents. They can claim over 49% in a Thai-organization, because of the ‘Settlement of Amity and Economic Relations among Thailand and the US’, endorsed in 1966.

Different outsiders here and there resolve this by delegating themselves as chiefs, issue distinctive resource classes, to give themselves larger part casting a ballot rights.

Buying Property With the Help of a Spouse

Buying Property With the Help of a Spouse

Now and then, outsiders let your Thai mate purchase the land and let the person in question rent the land for you. Notwithstanding, be careful that in the event that you record for a separation, your property may be treated as a different resource of your Thai life partner.

To diminish the dangers and obstacles when purchasing land in Thailand, you may be in an ideal situation purchasing a condominium, which is altogether more clear and simpler.

Buying a Condo in Thailand

Outsiders frequently want to purchase condominiums in spots like Bangkok and Phuket as the purchasing cycle is simpler.

Apartment suites are regularly constructed and accompanied currently inside. Subsequently, these are agreeable to live in and simple to lease. You’ll additionally approach a rec center, pools, once in a while grocery stores, and that’s only the tip of the iceberg.

Two of the most remarkable advantages of purchasing apartment suites are:

  • Outsiders can get freehold proprietorship
  • The townhouse is enrolled with a Title deed, like a Strata title

For the individuals who are inexperienced with what a title deed is, it’s a record indicating that you own the property and all the rights it brings. Layers titles are utilized for staggered condo blocks with basic zones, for example, pools and rec centers.

In case you’re from the UK, you may have known about the Commonhold framework. In the US, then again, they have a supposed Condominium framework.

Regardless of whether a townhouse brings numerous advantages, be careful that Thai nationals need to claim at any rate 51% of the units in the structure. Ensure that this is the situation for your future condominium.

Buying a Villa in Thailand

Buying a Villa in Thailand

For outsiders who need to live in less clamoring regions, possibly closer to the sea, a manor can be a superior decision.

Now and again it merits investing that additional exertion on the off chance that you intend to remain in Thailand for a more extended period and need to maintain a strategic distance from the huge urban communities.

A portion of the advantages of having an estate, contrasted with a condominium, can be:

  • More protection
  • A possibly greater value appreciation
  • Living nearer to nature or the sea shore
  • More accommodation and space in the event that you have a family

Consider which choice is generally appropriate to your inclinations, current life circumstance, and settle on your decision carefully.

How to Finance a Property in Thailand

In the event that you need to purchase a property with money, you can do as such by moving the assets to a nearby bank in Thailand.

It may appear to be simpler than it sounds, however the cycle to move cash should be concentrated well ahead of time.

Above all else, you need to move the aggregate sum in an unfamiliar cash to a nearby bank in Thailand (for example in USD or SGD).

The bank will at that point issue a duplicate of a FET-structure (Foreign Exchange Transaction Form) where the accompanying data should be incorporated:

  • The moved sum in your picked unfamiliar cash
  • The sum changed over into Thai Baht
  • The name of the sender
  • The name of the recipient
  • The reason for the exchange

In the event that a FET-structure isn’t given, there’s a choice to give a Credit note and a Letter of assurance that ought to incorporate a similar data as determined in the Foreign trade money exchange detailing structure.

The Foreign trade cash exchange structure is rounded out while moving your cash into Thailand.

Finally: when you have filled in the previously mentioned records, you’ll need to hand them over to the Land office, to allow them to deal with the exchange of the proprietorship in your name.

Getting a Mortgage as a Foreigner in Thailand

In the event that you are not fit for financing the property totally without help from anyone else, you can likewise apply for a lodging advance. The most widely recognized route is to apply for an advance at a bank that has branches in both Thailand and Singapore, for instance.

Beforehand, it was difficult to get a nearby bank credit as an outsider in Thailand, it’s as yet not regular because of the numerous limitations included.

The rundown of prerequisites is long and I surmise that numerous outsiders just don’t qualify. This isn’t phenomenal in non-industrial nations.

What are the requirements to get a local bank loan in Thailand?

The accompanying conditions come from Bangkok Bank’s site right now I’m composing this article:

  • The candidate should be more than 20 years of age
  • The credit term can’t surpass 30 years (as long as 35 years for perpetual workers as it were). The candidate’s age and the advance time frame can’t surpass 65 years when added together
  • The greatest credit sum allowed will ordinarily be up to 80% of the assessed esteem

What documents do I need to bring when applying for a mortgage?

applying for a mortgage

Ordinarily, the accompanying archives should be given, at any rate:

Accompanying ArchivesFor representativesFor entrepreneurs
A duplicate of your identificationA letter of income from your manager (not more established than 3 months)A duplicate of your business enlistment testament (not more seasoned than 3 months
A duplicate of your expert permit (Home credits for proficient)Most recent compensation slips and a duplicate of your finance account recordsA duplicate of VAT records (not more established than 3 months)
A duplicate of your lodging enrollment recordA duplicate of the yearly duty articulation (if installments are paid with money)Working capital record (for instance investment funds) in the course of recent months
A duplicate of your marriage/separate/demise authentication of companion (if pertinent)Most recent fiscal report or a duplicate of yearly annual assessment records
A duplicate of your changed name/last name testament (all duplicates)

Check with your picked bank as guidelines change and necessities can vary between banks.

Getting an International Bank Loan

A more normal route is to apply for a global advance when purchasing abroad property.

Beforehand, Bangkok Bank was the primary supplier of worldwide advances for property buys in Thailand. Lately UOB, ICBC, and Bank of China have become new options for financial specialists.

How high is the down payment?

As should be obvious from UOB’s site, you can get advances of up to 70% of the absolute property estimation, consequently you need to set up an initial installment of 30%.

You can pick the money to be, for example, USD or SGD relying upon where your bank is found. The credit period is typically as long as 30 years.

To get state-of-the-art data, I suggest you contact a small bunch of banks in Thailand, Hong Kong, or Singapore straightforwardly, prior to visiting Thailand.

Property Taxes in Thailand

Property Taxes in Thailand

Beneath you can locate an overall outline of the property expenses to be paid by the dealer or the purchaser.

Fortunately, the dealer pays the greater part of the assessments:

Make certain to make an intensive examination of the rental levels prior to setting your own level. This can be made online by checking different properties in your general vicinity, or by just asking different organizations or property managers what they have to bring to the table.

Check out the other great stuff, It might help you a lot:

Set up a business in Qatar Free Zones Area

Starting a Franchise Business in Malaysia as Foreigner

Business Consulting Firms

Top 10 Business Consulting Firms in Malaysia

The administration counseling organizations in Malaysia place a severe accentuation on innovative work to give ideal answers for their customers. Because of this methodology, business counseling firms in Malaysia have had the option to make a worldwide presence on the lookout. Do you need business counseling organizations in Malaysia that have a luxuriously experienced labor force? Start by shortlisting a portion of the organizations that you feel will suit your prerequisites. In actuality, on the off chance that you are not ready to investigate all alone, at that point take a gander at the rundown here. Browse the administration counseling firms in Malaysia referenced underneath.

RABA Services

RABA Services

We are youthful business visionaries from Malaysia with an objective to lift nearby and worldwide organizations to have the option to advance and adjust to the current huge changes in computerized innovation. Our systematic methodology is centered around uncovering the embodiment of each venture challenge to permit us to make comprehensive and solid arrangements.

Healy Consultants Group PLC

Healy Consultants Group PLC

A high-caliber A-Z business benefits firm for business people, organizations and combinations hoping to extend business universally.

A.T. Kearney Southeast Asia

A.T. Kearney Southeast Asia

A.T. Kearney has served customers in Southeast Asia since 1990, when the Singapore office was set up. We currently make enduring effects for corporates, governments and not-for-benefits over this assorted and dynamic district from workplaces in Bangkok, Jakarta, Kuala Lumpur and Singapore.

S & F Consulting Firm Limited

S & F Consulting Firm Limited

One of the best consulting firms for business setup, registration and so on for business purposes. S & F has been providing services since 2012.  Check it up for getting help from them.  

ACBC Malaysia

ACBC Malaysia

ACBC Malaysia encourages greatness and respectability in the administration counseling calling all in all. We control and present the Certified Business Consultant (CBC) assignment in Malaysia. The Association and its individuals advocate for the CBC assignment and are devoted to propelling the calling and conveying the advantages of those endeavors to the customer network.

Tekmark

Tekmark

“We separate ourselves with consistent worth development. Subsequently making our customers’​ lives less difficult, more advantageous, beneficial, and fun from the phase of procurement to conveyance, use, enhancements, administration and maintenance.”​

Since its origin in 1994, Tekmark Sdn Bhd has been the main test and estimation business premise signboard license in Malaysia. Tekmark gathering of organizations offers complete start to finish arrangements (from establishments to after-deals uphold) in hardware test, estimation and observing answers for different Telecommunications, Broadcast, Education, R&D, Defense and Electronic ventures. We likewise give in-house and on location adjustment and fix administrations to our different scope of clients.

Tekmark is the approved merchant of Keysight in both Malaysia and Philippines. The organization additionally has a solid presence in the ASEAN locale, in particular Singapore, Philippines, Vietnam, Indonesia and Thailand.

Phitomas

Phitomas

Since 2001, Phitomas’​ strength and center capabilities lie in its capacity to give cutting edge way to deal with configuration, designing, and assembling, upheld by best in class programming innovation. Our solid warning and backing group give business arrangements, framework mix and counseling administrations in the regions of IoT, Advanced Analytics Cloud Computing, Enterprise Resource Planning and Digital Prototyping.

Openwave

Openwave

‘Deals go here and there however administration stays everlastingly’, we @Openwave Computing Malaysia accept this colloquialism in and out and our answers and items are the best models for it. Openwave is one of the expert worldwide Website and Mobile App Development Company in Malaysia, and we are resolved to give driving edge answers for our customers in assisting them with quickening their business development and changing the advanced space, since 1997.

Sedin Technologies

Sedin Technologies

Programming advancement and counseling organization offering very good quality answers for different business needs. Our ability in front line innovations and carefully embracing Agile-improvement standards have made us one of the chief innovation counseling organizations around the world. We began as a little group in 2006 to construct astonishing items and answers for organizations that need them. After some time, we’ve worked more than 500 applications for our customers over the globe. Huge numbers of them got supported and one of them got gained by google.

Wingo Starr Group

Wingo Starr Group

Wingo Starr Group (WSG) fired up as an independent venture in mid 2015 and set up through difficult work and companion commitment. WSG has become an exceptionally legitimate and specialty market organization today. One of the key achievement reasons is because of our profoundly committed group of individuals and extraordinary unions. WSG goes about as a counseling firm, too giving particular administration and innovation administrations ability crossing across Human Resources Outsourcing (HRO), Business Processing Outsourcing (BPO) and Information Technology Outsourcing (ITO) and now.

Visa Application for Malaysia

Visa Application Process in Details for Malaysia

Numerous individuals from around the globe are keen on applying for a Malaysian visa. Claiming one would make it a lot simpler for such individuals to live and work in Malaysia. This article gives a lot of significant data to the individuals who intend to do it. It will make it simpler for them to get one.

Malaysia’s developing economy, charge motivators, and government support for private company consolidation have attracted numerous unfamiliar financial specialists to the organization. Over the previous decade, the nation’s economy has developed significantly. This makes Malaysia an ideal nation for organization joining, business action, and re-appropriating.

Outsiders who need to go into the franchise business in Malaysia or who are looking for business and need to apply for a visa should realize that there are five unique kinds of work licenses accessible. Each work grant has its own advantages and burdens and is appropriate for specific organizations, class of organizations, and financial specialists.

2–Year Business Visa for Investors and Their Families

Business Visa for Investors

Under this plan, financial specialists can apply for a two-year business visa for themselves and their families by joining a Labuan global organization. Such organizations are 100% unfamiliar claims and have insignificant settled up capital necessities. Consolidating such an organization doesn’t expect financial specialists to apply for a WRT License.

The corporate assessment on net benefits of a Labuan global organization is 3% or RM20,000, whichever is lower. Visas take around 60 days to be embraced and speculators can go after three or four jobs to be filled by outsiders with work grants in the organization. An enrolled office is additionally not needed.

Non-resident Company with 100% Private Holding (Sdn Bhd)

Private Holding (Sdn Bhd)

This game plan is ideal for unfamiliar financial specialists who wish to deal with their own business in Malaysia. Setting up a private restricted organization (Sdn Bhd) permits entrepreneurs to acquire a two-year Malaysian work license (DP10) with no details or significant expenses.

To apply for a two-year work license, a base settled up capital of RM1 million is needed for the organization. Furthermore, a WRT License is likewise required. The span of time taken from the fuse of the organization to the last underwriting on the identification normally goes from six to nine months. This furnishes financial specialists with sufficient opportunity to get the base paid–together capital requirements. However, there are sure business exercises which outsiders are not permitted to direct.

Joint Venture with a Malaysian 

Joint Venture with a Malaysian

Outsiders can likewise pick to fuse a Sdn Bhd Company with a nearby Malaysian. Under this game plan, the base settled up capital necessity is RM350,000. A WRT License isn’t needed if the neighborhood Malaysian accomplice possesses over half of the portions of the organization.

Contingent upon the idea of the business, the Malaysian specialists may permit a two-year work license for the recently fused organization. The time taken by experts in looking at the reports until the last underwriting on the visa is a few months.

Employment Permit

Employment Permit

Under this grant, bosses and entrepreneurs can apply for a two-year work grant for the same number of outsiders as they wish to recruit or utilize for their association. To meet all requirements for movement help, the worker must be on a typical agreement with the organization and the base month to month compensation of the representative must be RM5,000 or more.

The public authority forces certain prerequisites relating to capabilities for a work visa or business pass. For people applying for a talented, trained professional, or specialized Position, at least a four year college education is required. The support cycle takes one to two months. Upon fruitful assessment, the worker and the representative’s family are both granted a two-year work grant.

Representative or Regional Office

Representative or Regional Office

For organizations working for a very long time or more, Malaysia offers an occasion to set up an agent office in the nation. Such workplaces are precluded from directing any business exchanges with Malaysian organizations and are shaped to go about as planning focuses, leading reviews and discoveries, and investigating business openings. Setting up a provincial office in Malaysia qualifies financial specialists for a three-year work license; their families get one also. Handling takes a few months.

Work Permit Criteria in Malaysia

Work Permit Criteria in Malaysia
  • For joint endeavor organizations, at least 30% unfamiliar shareholding is required.
  • As indicated by Guidelines on Foreign Participation in the Distributive Trade Services Malaysia under the domain of the Ministry of Domestic Trade, Co-agents, and Consumerism, unfamiliar contribution is confined in areas according to Annex E. Hence, applications for any drawn out pass (over a quarter of a year) including the Employment Pass for organizations in these areas isn’t permitted.
  • On the off chance that an association is applying for a Professional Visit Pass (PVP), the organization is by and by needed to agree to the settled up capital prerequisite for organization enrollment.

All work grants offered by Malaysia have numerous passages, are inexhaustible, and reach out to the companion and kids (matured under 21) of the candidate. Each work license has its own benefits and disadvantages and is appropriate for various speculators and their necessities.

Franchise Business in Malaysia

Starting a Franchise Business in Malaysia as Foreigner

Ever can’t help thinking about how large brands like Chatime and Burger King figure out how to have stores any place you go? It resembles they are all over. Brands, for example, these can grow their image and business dramatically through a business idea called diversifying.

In an establishment understanding, neighborhood business people, under specific conditions, are allowed to convey the brand and sell items and administrations identified with a specific brand, without really claiming the brand. This hosts a few advantages for the two gatherings. Diversifying permits multinationals to grow their business and brand all through the world with insignificant ventures and with little stress over nearby corporate structures. Moreover, it awards neighborhood business visionaries the acknowledgment of a worldwide brand and simple admittance to advantages and administrations that are regularly just moderate for enormous organizations.

Beginning a business through diversifying is getting increasingly more typical in Malaysia. It tends to be a decent method to diminish the dangers usually connected with new businesses. The Malaysian government has put out an aspiring objective for the established business to contribute 9.4% to total national output by 2020. It plans to cause Malaysia to arise as a main establishment center point in the locale.

Choosing which establishment you’ll go with is a significant choice. It is basic to have an exhaustive comprehension of all that there is to think about the specific establishment you intend to join. With a smidgen of examination, you can detect a terrible establishment offer a pretty far. We’ve amassed a convenient rundown with the best things for you to do to assist you with beginning your own establishment.

Do a Survey

Do a Survey

So you’ve chosen to begin an establishment, amazing! The main activity is to see whether there really is interest for your planned item or administration. You’ll work like a customary business, so that implies you will have contenders. In addition, establishments don’t for the most part accompany a select region. Which essentially implies that separated from rivaling different organizations, you could likewise be going up against different franchisees with a similar brand.

It is accordingly prescribed to do some statistical surveying and lead a review. Do individuals really need another source this way? It is safe to say that they know about the brand? How is the opposition? Those are exceedingly significant inquiries that can furnish you with priceless bits of knowledge in regards to the domain and client base being advertised.

Attend Franchise Events

Attend Franchise Events

After you’ve affirmed that there is satisfactory interest, you may initially need to get an overall thought of what you are getting into. A decent method to get a vibe about your potential outcomes is to go to diversifying occasions. These occasions are commonly coordinated by franchisors searching for franchisees, establishment intercession organizations, or establishment administrative bodies. During these occasions, you can coordinate with delegates of these three gatherings and see what choices there are for the area that you had as a primary concern. Be cautious, however, as the establishment slows down are commonly monitored by salesmen who will attempt to persuade you that their establishment is the most ideal decision. In any case, in the event that you can deal with that, an establishment occasion is an extraordinary method to consider making the plunge. On the off chance that you hadn’t as of now, this may be a decent an ideal opportunity to focus in on a specific business area.

Do a Web-Search

Do a Web-Search

Whenever you have discovered an appropriate business area, it’s the ideal opportunity for due perseverance. With the end goal for you to figure out which establishment offer is the best inside your ideal business area, you should do a great deal of examination. To make it somewhat simpler for you, we’ve recorded a couple of the main angles you should consider when looking at establishment offers. You need to follow the rules to open a franchise company in Malaysia.

  • Starting passage charge
  • Sovereignties
  • The level of yearly deals paid to the franchiser
  • Commitment to shared administrations (promoting)
  • Programming rental
  • Gear upkeep
  • Review
  • Managerial administrations
  • Starting stock
  • Store development costs

The greater part of this data should be public information and can dominatingly be found in the establishment offers that franchisors distribute on their site. Whenever you have gathered this data it’s the ideal opportunity for your first examination. Analyze all establishment contributions inside your area and wipe out the ones that are outside of your spending plan or that are inaccessible in your area.

That should limit your rundown down a considerable amount. In a perfect world, you would now have 4-5 reasonable establishment offers remaining. Next, direct a careful business investigation of the organizations that remain. Get as acquainted with these organizations as though you would possess them. In the event that the organizations are freely recorded you ought to have all the data readily available. Yearly reports, budget summaries, market difficulties, future desires – everything is important. Give unique consideration to rate figures on establishment turnover. On the off chance that the majority of the new franchisees default inside a couple of years, at that point you are in all probability taking an awful arrangement.

A decent method to decipher this information is through key execution markers (KPI’s). A brisk online inquiry will let you know the main KPI’s for your specific industry. On the off chance that you have no business experience or on the off chance that you are battling, recruit a bookkeeper to assist you with figuring this out. An exhaustive record verification can be priceless in the event that it keeps you from taking an awful establishment offer.

Visit the Franchises

Visit the Franchises

Since you have an intensive comprehension of every one of these organizations, it’s an ideal opportunity to get out there and look at things for yourself. Figure out the spots you visit. You may have visited a McDonald’s multiple times in your day to day existence, however you will see it distinctively in the event that you go there with the goal to scout an expected business. The objective is to figure out the everyday activity. How is the faculty overseen? What is the normal holding up time? Is it packed at top hours? Imagine a scenario in which that incredibly simple-to-work café network with ensured benefits ends up being a dump that stands void a large portion of the day. The speediest method to discover is to go see with your own eyes. On the off chance that you are influential, you may even get the neighborhood administrator to give everything away about the inward activities of the establishment, as they are not generally content with their establishment arrangement.

Talk to Former Franchisees

Conversing with a previous franchisee of your objective establishment can be inconceivably significant. They have a heap of involvement that you can profit by as it identifies with maintaining this specific establishment business. What are the entanglements? Are there any issues with the plan of action? Furthermore, above all, for what reason did they quit?

Consult with the Malaysian Franchise Association (MFA)

In the mid 1990’s the Malaysian government recognized high establishment rates as a solid financial driver. As a response, the MFA was made by the Malaysian government to help establish an establishment agreeable monetary climate. They coordinate occasions, uphold franchisees and offer instructional classes that help establishment business people make their organizations a triumph. They can be an incredible asset and help when you are attempting to get your business off the ground.

Ask Consultants, Lawyers

Ask Consultants, Lawyers

Aside from counseling your own legal counselor, you can likewise talk with a free establishment advisor. These are normally legal advisors who have some expertise in establishment arrangements. These legal advisors can give magnificent experiences that your standard attorney may miss.

On the other hand, the franchisor may have an in-house establishment specialist that guides prospect franchisees with the lawful side of getting their business going. You commonly don’t pay an expense, as the specialist will get a cut from the franchisor in the event that you join.

Draw up Your Business Plan

Draw up Your Business Plan

At this point, you ought to in a perfect world realize which establishment you will join. The time has come to draw up your marketable strategy. A strategy is a composed depiction of your business’ future. This report will fundamentally be the diagram of your organization. On the off chance that you need outer financing, a solid field-tested strategy can convince prospect speculators to flexibly capitalize your capital. Aside from that, it very well may be a rule for your initial not many long periods of activity.

Composing a decent marketable strategy is incredibly troublesome in light of the fact that you should make gauges about the future execution of your business, which is liable to a ton of vulnerability. Be traditionalist in your income and benefit gauges and incorporate a wide situation and danger investigation to consider every contingency. Instructions to really compose an extraordinary field-tested strategy is presumably past the extent of this article, however remember that your franchisor can be an incredible assistance with this. They will probably have a model field-tested strategy from which you can begin.

Also, the franchisor in all probability has a great deal of information from different franchisees which, if deciphered appropriately, can help make your own income assesses more sensible. During this progression, you may even reason that your proposed business is really not as feasible as you recently suspected. Which is totally fine, it’s better on the off chance that you discover now than after you began your business. To assist you with beginning, we’ve incorporated elite of regions that are basic in any field-tested strategy:

  • General organization depiction
  • Operational: review of items and administrations offered/work force/hours/providers
  • Showcasing: marking technique/client commitment/promoting blend investigation
  • Lawful: Analysis of lawful climate/charge suggestions/proposed business structure
  • Monetary: capital requirements/earn back the original investment point/income gauges/master forma fiscal summaries
  • Risk measures/Insurance structure

File Your Franchise Agreement

File Your Franchise Agreement

Whenever you have done all the abovementioned, and you are as yet sure you need to go ahead, the time has come to formally document your establishment. To approve your organization with the franchisor, you’ll have to sign and enlist an establishment understanding.

All establishment arrangements must be enlisted with the Franchise Registry. An establishment arrangement needs to contain the accompanying things:

  • The name and depiction of the item and business under the establishment.
  • The establishment charge, advancement expense, sovereignty or any connected sort of installment which might be forced on the franchisee, assuming any.
  • The commitments of the franchisor.
  • The commitments of the franchisee.
  • The franchisee’s privileges to utilize the imprint or some other protected innovation, forthcoming the enlistment or after the enrollment of the establishment.
  • The conditions under which the franchisee may appoint the rights under the establishment
  • An assertion on the chilling time frame as given in subsection
  • A depiction relating to the imprint or some other protected innovation possessed or identified with the franchisor which is utilized in the establishment
  • In the event that the understanding is identified with an expert franchisee, the franchisor’s personality and the rights got by the expert franchisee from the franchisor
  • The sort and points of interest of help gave by the franchisor
  • The length of the establishment and the terms of reestablishment
  • The impact of end or termination of the establishment understanding

As you’ve seen, beginning an establishment requires a ton of readiness. Be keen about it and do some examination before you hop directly into the establishment business. It will doubtlessly build the opportunity of your business being a triumph.

Qatar Free Zones Area

Set up a business in Qatar Free Zones Area

The idea of free zones has turned the Middle East nations to be an rising business center point. Not just it helps in roping in industrialists from various districts of the world, yet it has utilized the manner of thinking of business speculators generally. Talking about Qatar, it has a fortification with regards to a business foundation and has been positioned in the best 40 nations for business by Forbes. The same, the other neighboring nations, Qatar likewise have free zones that invite business speculators, industrialists, business people to fabricate their business establishments. Beginning a business in Qatar ends up being a more ideal choice for them because of the presence of its free zones. How about we see.

Qatar Free Zones

As expressed over, the country holds free zones in its field. These zones have been exceptionally intended to center and implicit the engaged businesses and to elevate them at a worldwide level. In Qatar, we have:

Qatar Science and Technology Park

Qatar Science and Technology Park

Situated in Qatar’s Foundation Education City, this innovation park was set up in 2009 with an intent to give a home to innovation based firms. This zone accompanies a ton of motivating forces that meet the desires for the business substances. A portion of the famous organizations that loll in its zone hold Microsoft, Shell, and GE and so forth A portion of the exercises completed at QSTP include:

  • Innovation advancements
  • Instruction and preparing
  • New business advancement
  • Innovative work and so on

Along these lines you can see that this free zone totally focuses on the innovation area to give an arising stage to the business elements. Presently, how about we proceed onward to the following free zone.

Qatar Financial Centre

Qatar Financial Centre

With regards to the account area, Qatar is no place back. The country has set up a total free zone that focuses on the monetary angles. Set up in the year 2005, QFC is situated in Doha and gives lawful and business foundation to monetary administrations. It furnishes an occasion to manage a lawful system that intently deals with cash overseeing in the developing business sectors. The free zone has broadened its cutoff points and now additionally incorporates the non-managed exercises. Company formation in Qatar free zone is easy process specially in QFC. A wide scope of exercises did in the QFC includes:

Banking

Resource Management

Protection/Re-protection

Islamic Finance

Venture Advice and so forth

To put it plainly, we can say that these two free zones open a door to numerous business ventures managing in particular areas. It encourages the business substances to develop and remain at worldwide level. In the event that your business lies in the above-expressed areas and you need to give a worldwide introduction to your business substance, you can depend on Qatar. Whenever you have arrived at this purpose of your business choice, you ought to have better lucidity with respect to the various advantages that you can benefit by fusing a business in Qatar. How about we continue.

Benefits of Setting Up a Company in Qatar Free Zone

Benefits of Qatar Free Zone

By setting up an organization in any of the free zones in Qatar, you will have the option to profit from the accompanying advantages:

  • 100% Foreign Ownership
  • Key Location
  • 100% Repatriation of ventures and benefits
  • 10% of corporate duty
  • The nonappearance of Currency Restrictions
  • Simple accessibility of Residence Visa
  • Current correspondence offices
  • A wide scope of licensable exercises
  • A straightforward lawful and administrative system

Presently, since you have a thought regarding the advantages given by Qatar Free Zones, the subsequent stage that you should center is to be clear about the documentation cycle, which serves to be extremely basic.

Documents Required to Set Up a Business in Qatar Free Zone

Required Documents

To begin an organization in Qatar free zone, you have to hold the accompanying:

  • Data with respect to the firm
  • Nitty gritty portrayal field-tested strategy
  • Exploration intends to be submitted (in the event of QSTP)
  • Bank articulation for monetary security
  • Investors ID evidences

In this manner, you have a general thought with respect to why business financial specialists pick Qatar as their business stage. All you require to ensure is that the above-expressed records are close by before you move into the center cycle of setting up your organization in QSTP or QFC.

Qatar Free Zone Company Formation Process

Company Formation Process

To build up an organization in Qatar Free Zone, you have to experience the accompanying cycle:

  • Reservation of organization name with the business library by paying a charge of QAR 1000-1500
  • Next, you have to open a financial balance by storing the settled up capital
  • Getting the Articles and Memorandum of Association drafted
  • Get the fundamental permit from the public authority specialists
  • Get TIN enlisted with the Public Revenue and Tax Authority
  • Get the organization seal

All the previously mentioned steps are to be followed likewise to bring the business element into the dynamic structure. All you require now is a business expert who can help you in doing the business cycle and guide you with respect to the legitimate customs.

Procedures of company formation in Japan

Procedures of company formation in Japan

The procedures for starting a company in Japan are as follows:

1. Selecting the type of company for incorporation

(a) Japanese legal entity vs. branch office

The choice to incorporate as a branch office or separate Japanese legal entity goes beyond tax considerations (though that is definitely an important component of any decision). Branch offices are recognized as an extension of the overseas parent company, which means that the parent company is legally responsible for any liabilities or disputes generated by its branch on Japanese soil. In addition, some customers or vendors may hesitate to deal with branch offices, due to perceived lack of commitment. Still, branch offices do thrive in the Japanese marketplace, as long as the company’s needs are fulfilled which may depend heavily on the industry, type of clients, nature of the business transactions etc.

Japanese legal entities, on the other hand, are considered separate entities from their parent companies, with its own assets and liabilities. However, they are more expensive to register than branch offices, and must meet stricter legal and financial requirements in order to operate. Despite the additional time and expense, many companies choose to incorporate as a Japanese entity because of the advantages that come with being legally considered as a native business. Also, a subsidiary company can be maintained now with only foreign directors, whereas a branch must always have a resident branch representative.

(b) Kabushiki Kaisha—KK (joint stock company) vs. Godo Kaisha—GK (limited liability company)

If you decide to incorporate your business as a Japanese legal entity, then the decision must be made as to what to classify your company. The 2 most common types of companies are the Kabushiki Kaisha (KK) and the Godo Kaisha (GK), with most companies (about 80%) classified as the KK. Though KKs and GKs offer limited liability protection to their shareholders, there are important differences that you must consider before finalizing your decision.

KKs are slightly more expensive to incorporate than GKs, and must meet more legal requirements before registration can be completed. The organizational structure is very specific, with a clear division between management and ownership (though it’s possible to be a member of both). The KK designation is generally suited for medium to large companies, though it is perfectly fine for small companies looking to scale in the future. It is recommended to make a KK if outside investment is being considered (at initial stages or in the future) for the company. As a rule, KKs also enjoy a perception of prestige, which can be beneficial for new businesses looking to establish trust with new customers and vendors.

In contrast, GKs are less expensive to register, with fewer cumbersome legal requirements. Though less common than the KK, GKs do enjoy some credibility with the local business market, given their legal status as a native company. The GK designation is generally ideal for small to medium companies, though there are some foreign multinationals that are operating successfully as GKs.
Whichever designation you choose to register under, just remember that the best choice will always boil down to what’s best for your business at the present moment.

2. Requirements for establishing your company as a Kabushiki Kaisha (KK)

Most investors (both foreign and native) request professional assistance for incorporating their KK. In that case, an outline is created to decide the necessary requirements for KK registration. Things that need to be decided include the following:

(a) The name of the Company

For your trade name, you can use Hiragana letters, Katakana letters, Chinese characters, alphabets, and Arabic numerals. You must also decide the English notation of the Company name.

(b) Location of the head office

If you cannot secure the office space of your choice in short notice, you can temporarily use a virtual office address, your residence, or your employee’s address strictly for registration purposes. However, you must have a proper physical office if you are applying for a Business Manager visa.

(c) The amount of the capital

Though it is perfectly legal to provide only 1 yen in starting capital, this not recommended for credibility reasons as capital figures are public. If you are applying for a Business Manager visa, you must have at least 5 million yen to start to at least qualify for visa approval.

(d) Determining the amount paid per share

There is no law for a required amount per share and you may decide freely as long as it equates the capital amount. Some companies will set the share price at 10,000 yen per share, while most will opt to set it at 1,000 or 100 yen per share.

(e) Determining the settlement date

If you are unsure about the preferred settlement date, it is recommended that you set your first fiscal year at the latest date possible so that you can operate the longest term until the corporate tax return is necessary. Subsidiary companies often match the fiscal year of their parent organizations if necessary according to their country`s tax regulations.

(f) Determining the terms of office for directors and auditors

The terms of office of directors and auditors can be set for ten (10) years, though you can always choose a shorter time frame. The corporate register must be updated after the term of directors and auditors expire.

(g) Contents of business operations: what are the services and/or goods provided by the company

The activity of the company must be on the corporate register and written specifically. Those businesses that require a license for their industry may need to write certain business activity.

(h) Determining the directors, auditors, and shareholders at time of incorporation

A company or individual may be a shareholder, and directors and representative directors are decided. Since a KK can be legally established by one person, it is completely acceptable to list yourself for all positions.

(i) Relevant contact information

Important contact information should include your telephone number and occupation. If you have a representative director, his or her telephone number must also be provided.

3. Acquisition of the Seal Certificate

(a) The following must secure their seal certificate:

Applicants for Business Incorporation—this is mandatory for all investors who plan to start a business in Japan (a recipient of shares at the time of incorporation). In case of a corporate entity, in addition to the seal certificate, a corporate registry is also required for submission.

All Shareholders and Directors

(b) Required number of seal certificate copies

There is a need to submit the required number of seal certificates as follows:
1. All directors of the new Japanese company who are residents of Japan
2. All individual shareholders who are residents of Japan

4. A copy of the passbook pages showing evidence of the company’s starting capital

The required pages are:
1. Cover Page
2. First Two Pages after opening Cover Page (shows account information)
3. Page with remittance (Capital to be registered must be in the “credit” column if the bank statement)

5. Documents stamped with the corporate seal

There is a need to prepare the corporate seal in advance. We can also accept orders for custom-made inkan. The following seals are needed for incorporation:

(1) Official Corporate seal (会社代表印)

For official corporate use which is registered.

(2) Bank seal (銀行印)

For transaction use at the bank.

(3) Square Seal (角印)

For unofficial use.

6. Approval of the corporate registry at the notary public

Without the approval from the notary public, the registration for the company cannot proceed. To obtain approval, you should make an appointment with the notary public as soon as your corporate registry is completed. If you elect to use Shiodome’s Incorporation service, you can send the notarized documents to us by email for expedited review. Afterwards, you can come to our office to complete your electronic corporate registration, eliminating the standard authorization fee of 40,000 yen.

7. Enrollment of incorporation registration at the ministry of justice

The registration date becomes the date of the incorporation. The date of the company’s incorporation can be decided freely unless it falls on a weekend or official holiday.

8. Completion of company incorporation

After the completion of your company’s incorporation, you can finally receive the corporate registry. There are other post compliance procedures required such as bank of Japan filings for some cases of foreign shareholders, and or initial tax filings that will be due shortly after the registration date.

If applicable, you may also start the application for your Business Manager visa, since your company is now in legal existence. The whole process from start to finish will usually take about 4 to 6 weeks, though it can take longer if your business requires a specific license to operate.

Doing Business Index Bangladesh improves ranking

Doing Business Index: Bangladesh improves ranking

Bangladesh advanced 8 notches in global ease of doing business ranking to 168 out of 190 counties, according to a report of World Bank.

The country rose to the rank of the 168th from 176th in the previous year, the WB said in its Doing Business 2020 report released today.

The jump was aided by the country’s improved score in the areas of starting a business, dealing with construction permits, getting electricity, registering property, and getting credit.

“This is the first time we have made such a huge jump. But definitely we will not consider this as a big achievement. We are still 168th out of 190 countries and we want to make substantial improvement the next year,” said Salman F Rahman, the prime minister’s adviser on private industry and investment at press conference at the Prime Minister’s Office (PMO) today.

Principal Secretary of Prime Minister Md Nojibur Rahman, Chief Coordinator on SDG Affairs of the Prime Minister Office (PMO) Md Abul Kalam Azad, Finance Secretary Abdur Rouf Talukder, Executive Chairman of Bangladesh Investment Development Authority Md Sirazul Islam also present at the briefing. 

“Taking rankings to double digit should be our target. For this, we have to accomplish a lot of tasks and those are ongoing. I expect our position will improve in the coming days,” Salman F Rahman said, adding that Bangladesh has been named as one of the top 20 reformers by the World Bank recently.

Despite improvement, Bangladesh remains just ahead of Afghanistan in South Asia. India topped the list with a ranking of 63rd, up from 77th a year ago. Bhutan is ranked 89th, followed by Nepal 94th, Sri Lanka 99th, Pakistan 108th, the Maldives 147th, and Afghanistan 173rd.

In a press release, the Bangladesh Investment Development Authority (BIDA) said Bangladesh made starting a business less expensive by reducing name clearance and registration fees, and abolishing the fee for certifying digital certificates.

“This reform applies to both Dhaka and Chittagong,” it added.

While getting electricity has also become faster because of investment by the government in digitisation and human capital.

“Bangladesh also made getting electricity less costly by reducing the amount of the security deposit for a new connection. This reform applies to Dhaka.”

It said expansion of coverage of the CIB improved access to credit information by borrowers.

The Doing Business score is 45.0, which is 2.5 percentage points higher than that of last year, according to the Doing Business 2020.

BIDA said the government has taken a number of initiatives to improve reforms to ease process of doing business in Bangladesh.

This includes developing action plans, forming taskforces, coordinating reform initiatives among relevant government agencies; providing reform support to line agencies, conducting dialogues with private sector stakeholders, and monitoring reform progress, it added.

In a press statement, the WB citing Doing Business 2020 said Bangladesh carried out three business reforms during the past year, the most in a decade, and would need to accelerate the reform pace to further improve its regional and global competitiveness.

 “Improving the business environment is essential for Bangladesh to support private sector development, which will create more jobs and foster sustainable economic growth,” said Mercy Miyang Tembon, World Bank Country Director for Bangladesh.

“It would be important for Bangladesh to build on the recent achievement and further accelerate regulatory reform efforts to continue to improve the business climate.”

The WB said the reforms enacted this year followed three years of inactivity.

With 15 reforms since the inception of the Doing Business study in 2003-04, Bangladesh lags behind other economies in South Asia, it added.

“Bangladesh ranks next to last globally on the enforcing contracts indicator and 184 out of 190 on the registering property indicator,” said the multilateral lender.

Transferring a property title in Bangladesh takes on average 271 days, almost six times longer than the global average of 47 days. Resolving a commercial dispute through a local first-instance court takes on average 1,442 days, almost three times more than the 590 days average among OECD high-income economies.

To connect a new building to an electrical grid, a business needs to complete nine procedures, the most not only in the region but also globally. Only two other economies in the world require nine steps to obtain a connection, it added.

Related more post…

Source: https://www.thedailystar.net/

List of top companies in Malaysia

List of top companies in Malaysia

In anticipation of its fourth annual Employer Brand Awards, Randstad Malaysia today announced the market’s top 75 largest commercial companies that are in the running for the title of the most attractive employer in Malaysia, based on the global 2019 Randstad Employer Brand Research.

The annual Randstad Employer Brand Research is an independent study commissioned by Randstad and conducted by Kantar TNS. This year, more than 2,504 employees and job seekers were surveyed in Malaysia. The research seeks to understand what job seekers look for in an ideal employer and measures their perception of the 75 largest commercial employers (based on the local workforce size). The study measures brand awareness and brand attractiveness of each commercial company, and respondents are required to rate the employers on 10 employee value proposition drivers such as ‘work-life balance’, ‘financial health’ and ‘career progression opportunities’.

As the most representative and inclusive employer brand research in the world, the Randstad Employer Brand Research has become a leading voice in employer branding conversations, providing tailored employment intelligence to companies across leading sectors in Malaysia and globally.

Top 75 most attractive commercial companies in Malaysia

(In alphabetical order)

AEON Co. (M) Bhd.
AirAsia Berhad
Alliance Bank Malaysia Berhad
AMBANK (AMMB Holdings Berhad)
Astro Holdings Sdn. Bhd.
B.Braun Medical Industries Sdn. Bhd.
Bank Islam Malaysia Berhad (Bank Islam)
Bank Kerjasama Rakyat Malaysia (Bank Rakyat)
Berjaya Corporation Berhad
Boustead Holdings
Carsem (M) Sdn Bhd
Celcom Axiata Berhad
CIMB Bank Berhad
Citibank Berhad
Continental Tyre Malaysia *NEW*
Dell Malaysia *NEW*
Deloitte SEA Services Sdn. Bhd.
DRB-Hicom Berhad
Flextronics *NEW*
Gamuda Berhad
GCH Retail (Malaysia) Sdn. Bhd.
General Electric Malaysia *NEW*
Genting Malaysia Berhad
Hartalega Holdings Berhad *NEW*
Hap Seng Consolidated Berhad
Hewlett Packard Enterprise Services Sdn Bhd
Hong Leong Bank Berhad
HSBC Bank Malaysia Berhad
Huawei Technologies Malaysia *NEW*
IBM Malaysia Sdn Bhd
IJM Corporation Berhad
Infineon Technologies (Malaysia) Sdn. Bhd.
Intel Malaysia *NEW*
IOI Corporation Berhad
Jabil *NEW*
Johor Corporation Berhad
KFC Holding
Kuala Lumpur Kepong Berhad
Malayan Banking Berhad (Maybank)
Malaysia Airlines Berhad
Malaysia Airports Holdings Berhad
McDonald’s
Media Prima Berhad
MMC Corporation Berhad
Motorola Solutions Malaysia Sdn. Bhd.
Mydin Mohamed Holdings Bhd (MYDIN)
Nestle (Malaysia) Berhad
OCBC Bank (Malaysia) Berhad
Oriental Holding Berhad
Osram Opto Semiconductors (Malaysia) Sdn. Bhd.
Perusahaan Otomobil Kedua Sendirian Berhad (PERODUA)
Petroliam Nasional Berhad (PETRONAS)
Plexus Manufacturing Sdn. Bhd.
Public Bank Berhad
RHB Capital Bhd.
Safeguards G4s Sdn. Bhd
Samsung *NEW*
Sapura Energy Berhad
Shell Malaysia
Sime Darby Berhad
Sony EMCS (Malaysia) Sdn. Bhd.
Standard Chartered Bank Malaysia
Sunway Group
Ta Ann Holdings Berhad
Tan Chong Motor Holdings Berhad
Telekom Malaysia Berhad
Tenaga Nasional Berhad
Tesco Stores (Malaysia) Sdn. Bhd.
Top Glove Corporation Berhad
UMW Holdings Berhad
United Plantations Bhd
UOB Malaysia *NEW*
V.S. Industry Berhad
Westports Malaysia Sdn Bhd
YTL Corporation Berhad

Source: https://www.randstad.com.my/

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