The legislation referring to gambling activities in Malaysia is very restrictive and businessmen who are interested in setting up a casino here should analyse the legal requirements imposed in this field. In Malaysia, only some of the gambling activities generally available in other jurisdictions are allowed and casinos have a special status. As a general rule, the Malaysian authorities allow casino activities only in certain conditions and only as an exemption from the main regulations, prescribed in the Betting Act 1953. Our team of company incorporation specialists in Malaysia can offer more details on the gambling activities which can be set up here.
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Businessmen who want to register a company in Malaysia for operating a casino should know that the regulations in this sense are very restrictive. As a general rule, betting activities are restricted to a large population of the country, based on religious grounds: Muslims are not allowed to participate in such activities and they represent a large share of the local population (60%).
However, it is important to know that a casino can be set up here, as the country has some of the world’s largest casinos establishments, which are frequented by foreigners and the Malaysian ethnic Chinese population.
A company set up here has to be registered at the Companies Commission Malaysia, following the general procedure applicable to other companies, but it is necessary to obtain special permits for this activity; our team of company incorporation representatives in Malaysia can assist foreign investors in this process.
Our accountants in Malaysia can offer you the services you need for your company in this country. In addition to the classic and recommended services of payroll, bookkeeping, preparation, and filing of annual financial statements, audits, and tax registration, our clients can also benefit from risk assessment and evaluation. We remind you that Malaysian Financial Reporting Standards (MFRS), as well as International Financial Reporting Standards (IFRS), are applicable accounting legislation in this country.
Online gambling activities in Malaysia are forbidden, but because the legislation provided under the Betting Act 1953 does not provide a clear image in this sense, many have set up online activity due to the fact that it is not clear if owning a website in this domain may represent an illegal activity.
Businessmen interested in receiving more details about the casino industry in Malaysia can address to our team of company formation agents in Malaysia for assistance.
