Penang is well known for our strength in high-tech manufacturing. Building on top of that, we will focus to enhance the local enterprise ecosystem to go digital and international by leveraging on digitalisation and automation.

View our ICT and manufacturing companies in Penang and check out Digital Penang’s programs for SMEs and business owners to go digital!

Cost of Doing Business in Penang

Incorporation Fees

Main fees to be paid to the Companies Commission of Malaysia (SSM)

    • Reservation of a name – RM50/USD12
    • Application for incorporation under section 14 of the Act for company limited by share, by guarantee, or unlimited company – RM1000-RM3000/USD250-750
    • Registration of company with share capital:
      • Not exceeding RM1mil (USD250k) costs RM5k/USD1,238
      • RM 1,000,001 to RM 10,000,000 (USD 250K to USD2mil) costs RM20k/USD4,950
      • RM 10,000,001 to RM 50,000,000 (USD2.5mil to USD12.38mil) costs RM40k/USD9,901
      • RM 50,000,001 to RM 100,000,000 (USD12.38mil to USD24.75mil) costs RM60k/USD14,851
      • Exceeding RM100,000,000 (USD24.75mil) or registration of company WITHOUT share capital costs RM70,000/USD17,327
      • For the full range of fees, please go to SSM’s website at www.ssm.com.my

Office Space

Rental Rates for Prime Office Space in Georgetown, Pulau Pinang rates range from RM27 to RM38 (USD6.70 to USD9.41).

Cost of Prime Office Space in Penang (RM psf/month):

  • Penang Island (Georgetown, Bayan Lepas, Bayan Baru)
    • RM2.00 – RM3.50 psf per month
  • Mainland, Penang
    • RM1.50 – RM2.00 psf per month

Industrial Land and Factories

  • Locations: Penang Science Park, Penang Science Park North, Batu Kawan Industrial Park
  • PDC Ready Built Factory Units
    • Bukit Minyak Industrial Park (85 units)
    • Bayan Lepas Industrial Park (Phase IV)
    • PDC SME Units
      • SME Units Bukit Minyak Industrial Park (27 units)
      • SME Village Batu Kawan Industrial Park(Phase 4A)

More Information on Doing Business in Penang

Tax Incentives for Company Relocating into Malaysia under National Economic Recovery Plan (PENJANA)

Tax incentives offered to a new and existing company relocating into Malaysia under the Income Tax Act 1967 are as follows:

Tax incentives offered to a new and existing company relocating into Malaysia under the Income Tax Act 1967

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