In the Merator Entity Management Report 2023 Malaysia came out top for the most favourable environment for businesses worldwide in terms of cost-effectiveness and fast corporate processes by local authorities. Malaysia was followed by Australia, Singapore, Portugal and the UK
IN the Report’s overall rankings it gave Malaysia the top spot when weighting both cost and time to complete activities. It cited Malaysia’s electronic filing options, minimal documentation requirements, and swift registration processes as key factors contributing to its top position. It was also common practice to approve corporate decisions by written resolutions instead of requiring an actual meeting.
Other factors highlighted include no nationality requirements for directors, the incorporation process is quick and not complex, and there are not a lot of annual reporting requirements, thus less chance a pending filing will cause issues or delays with corporate changes.
In the Foreword of the Report by Mr Kariem Abdellatif, the Head of Mercator by Citco, Citco C&T Holdings (Luxembourgh) he stated that Mercator continued to see the digitalisation drive the way in which multinationals manage and maintain their global portfolio of entities and 2023 has seen more jurisdictions across the world embrace digital tools to streamline processes and increase efficiency.
The Mercator Entity Management Report 2023 is par of its Entity Portfolio Management (EPM) report series that provide direct insights into the practice and dynamics of EPM based on real-life date, covering more than 180 jurisdictions. It has been designed to provide data-based resource for business leaders and General Counsels insights into the cost and time required to manage a global portfolio of entities.
