How to start a business in Malaysia
We shall guide you how to start a business in Malaysia as foreign investor. To start business in Malaysia it's need to decide which business is it to be registered ? There are some key notes should keep in mind as legal process, market area, competition, expected return time etc. Legal process includes business registration such as obtaining incorporation, trade permission, income tax verification, office agreement copy (virtual office some time), industry area, lease of lands or spaces etc.
Market analysis can be dome through online and physical contact with market analytical company in Malaysia. Product competition is part of market analysis. Area of market can be select as assumption on business ideas.
How much initial deposit is required and how much are going to deposit first year ? How much at second year and third year ? Now it's need to calculate when can be started return from business.
You may ask for how to start a business in Malaysia as foreigner?
- Hire the right consultant
- Rent an office
- Hire Company Secretary
- Name approval
- Paid up capital
- Company Registartion
- Bank account
- Income Tax certificate
- WRT License
- Halal License
Hire the right consultant
(we guide the foreign investors how to start a business in Malaysia)
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First and the most important job as foreign
investor are hiring a right consultant who may guide to invest in Malaysia. You
may search in Google to find the consultant who serve company registration in Malaysia for foreigner/
business setup job in Malaysia. Its need proper guide line from the beginning
to end of formalities starting a business in Malaysia. You may do the
following to find the right consultant:- Email the consultant and ask to
guide you setting up a company in Malaysia, talk to them over phone, visit
their office in Malaysia, know their experience on this field.
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Rent an office
(we guide the foreign investors how to start a business in Malaysia)
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You need an address to register a new company in
Malaysia. As foreigner you may use office address of the consultant who is
assigned to co-operate you. Once company registration formalities are done
may rent your own office. In that case you may rent virtual office at low
budget. No service is free there so, talk to the consultant to show your
total cost of starting a business in Malaysia.
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Hire Company Secretary
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As law of Malaysia, each company shall appoint
Company Secretary who will work as safe guard of your company. Company
Secretary is a qualified member of Chartered Secretary, Malaysia and he/ she
is legally authorized to forward your papers to SSM for registration of
company.
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Name approval
(we guide the foreign investors how to start a business in Malaysia)
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Company is identified as name and so, you have to
choice multiple names and one name will be approved from proposed name. They use
word SDN. BHD. Instead of private limited. So, your company
name will look XYZ SDB. BHD. Company name is active for 90 days only. You
have to pay fees to apply of company name.
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Paid up capital
(we guide the foreign investors how to start a business in Malaysia)
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We suggest fixing paid up capital of RM 500,000
and above to start a new business in Malaysia. Unless you maintain said
amount will face lots of problem doing business. But, you may open a company maintaining
paid up capital at any amount.
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Company Registration
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It will take 3-5 days maximum to register a new
company from SSM. You have to sign on particular forms 24, 48 A, 49, 44 and
MoA, AoA as directors of the company. All required papers will be prepared by
consultant or company secretary. You may check government fees on authorized
capital.
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Bank account
(we guide the foreign investors how to start a business in Malaysia)
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Once company is registered talk to bank to open
business account. If the directors hold social pass is makes problem to open
bank account. We shall guide to open business account in Malaysia at foreign
or local bank.
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Income Tax certificate
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You may order your consultant or company
secretary to get income tax certificate from Inland Revenue Board,
Malaysia. You may charged an amount of cost to have tax certificate.
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WRT License
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Wholesale and retail trade license is required to start a business in
Malaysia. Talk to the consultant to arrange the license for your business.
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Halal License
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If your business is related of restaurant,
frozen, chips, homemade food, grains and others are applicable to have Halal
license.
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Starting a business in Malaysia
Manpower cost and offices expenses shall be included of investment cost. Do you need investor visa and work permit ? If so, another issue of capital RM 100,000 , other than US$ 2000 to US$ 5000 is enough to complete whole legal process to be started the business.
Do you know how many days are required to starting a new business in Malaysia? As my view, it may take 30 to 45 days if the consultant is supported by the investors financially and documentary.
Business ideas of Malaysia
Getting business ideas of Malaysia the investors are requested to contact the experts of SFM CONSULTING FIRM SDN. BHD. for company registration in Malaysia
