Malaysia Is Becoming A Hub For Tech Savvy Entrepreneurs & Digital Nomads

Malaysia has become an increasingly popular destination for digital nomads and entrepreneurs. Its low cost of living, well-developed infrastructure and vibrant multicultural society make it an attractive destination for location-independent workers.

The country recently announced the ‘DE Rantau Nomad Pass’ for qualified foreigners, with a visa fee of MYR 1,000 (€221). This visa will be available to those earning over €24,000 per year and will allow recipients to stay in Malaysia for up to 12 months, with the possibility of renewal for an additional 12 months.

In 2021, an InterNations survey voted Kuala Lumpur as the best city in the world for expats to live and work in. It took into account quality of life, ease of settling in, finance and housing, and urban work life. The average monthly cost of living in Kuala Lumpur – Malaysia’s capital – is €487, not including rent. For a family of four, the monthly cost is €1,736. A one-bedroom flat in the city centre costs an average of €461 a month.

Malaysia is also attractive to digital nomads due to its low crime rate. The country’s crime index (the total number of crimes per year per 1,000 people) is 57 – slightly worse than France’s 52 and the UK’s 47, according to World Population Review.

Malaysia offers plenty of opportunities for entrepreneurs. The country is home to a large and diverse population and has a strong economy with a GDP of over $400 billion. The government is committed to creating an enabling environment for businesses and entrepreneurs to thrive, with incentives such as tax holidays and low-interest loans.

The country is also home to a number of business incubators, accelerators, and venture capital firms that are helping startups succeed. These initiatives have boosted the entrepreneurial ecosystem, creating an ideal environment for startups to launch and scale.

Malaysia is also a great place to launch a business because of its proximity to other markets in the region, such as Singapore and Indonesia. This offers entrepreneurs access to a larger customer base and a chance to tap into the region’s talent pool.

The country’s well-developed infrastructure, with its world-class airports, ports, and highways, makes it easy for entrepreneurs to move goods and services across the region. Additionally, the country’s strong banking system offers entrepreneurs access to financing and other resources.

Finally, the country offers a relatively low cost of living, making it an affordable place for entrepreneurs to launch their businesses. With all these advantages, it’s no wonder that Malaysia is an attractive destination for entrepreneurs.