Malaysia Business, Taxation and Offshore Information
Malaysia is a federal constitutional monarchy. Nine of the 13 Malaysian states have a hereditary ruler, one of whom is elected as king every 5 years. The current king is Abdullah of Pahang. Since the 1994 changes to the constitution, the king's role has been largely ceremonial, as Parliament wields real executive power. Muhyiddin Yassin is the current prime minister.
According to 2020 International Monetary Fund estimates, Malaysia has the 51th highest GDP per capita in the world at PPP. The ranking in 2013 was 59th, so this represents a steady improvement. For 2020, Malaysia is ranked 62nd on the UN's Human Development Index (a comparative measure of life expectancy, literacy, education, standards of living, and quality of life). This is a slight improvement on the ranking for 2013. More »