Gambling activities in Malaysia are strongly regulated by a set of rules and laws, under the Betting Act 1953. Being mostly a Muslim country, the local authorities have created a legal framework which bans various gambling games. Businessmen interested in setting up a company in Malaysia in this field are advised to study the laws applicable to this industry. Our team of company formation representatives in Malaysia can offer assistance on the legal requirements which have to be met by a gambling company.
Table of Contents
Legal gambling activities in Malaysia
The social factors defining the Malaysian legislation are rather reluctant to gambling activities, but it is important to know that many forms of gambling are permitted here.
The following video offers a short presentation on the types of gambling activities permitted in Malaysia:
Businessmen who want to set up a company in Malaysia in the gambling industry should know that lotteries are allowed, under the Lotteries Act 1952.
Another way in which gambling activities can be performed here is through betting on horse races. The legal framework for this activity is prescribed under the rules of the Racing Act 1961. It is important to know that common betting houses are restricted in Malaysia by the Betting Act 1953; our team of company formation agents in Malaysia can offer more details on the permits that are necessary when performing betting activities here.
Still, the Common Gaming Houses Act 1953 stipulates that companies that have been registered under the rules of the Companies Act 1965 can obtain gambling licenses. Although gambling is not a common activity in Malaysia, the state is the home of one of the largest casinos in the world – Genting Highlands, which was established for the ethnic Chinese individuals living in Malaysia.
We suggest you ask for the services of our accountants in Malaysia and select the ones that suit most for your business most. Among these, we remind you that you will need payroll services, bookkeeping for the correct record of financial inflows and outflows, audits, tax registration support, tax advice, and compliance. Also, our specialists can represent you in the case of financial controls carried out by the authorities, but you can find out more details if you get in touch with us.
Online gambling in Malaysia
However, online gambling activities are not as strictly regulated because the Betting Act does not provide comprehensive legislation in this sense. Many businesses have developed in Malaysia, as the country does provide a consumer market, represented by the Chinese ethnic population.
Businessmen interested in receiving more details about the legislation regulating gambling activities in Malaysia can address to our company incorporation consultants in Malaysia.