Starting a Business in Malaysia as a Foreigner
The Important First Few Steps:
Once you have decided Malaysia is the place to invest, the key points of “Starting A Business in Malaysia” will help you tie up the loose ends!
7 key points to consider before starting a business in Malaysia for foreigners:
1. What kind of business can I do? What am I passionate about? [Read: Businesses not permitted to foreigners]
2. Is my business idea feasible to conduct as a foreigner? Are they many opportunities to be explored?
3. The suitable business entity for foreigners for your business? What are the options of ownership for each entity available for foreigners? Is my business nature able to obtain 100% foreign owned entity?
5. Am I guaranteed to be able to obtain all necessary approvals for trade licenses and work permit right after I register the company? This is the most crucial thing to know to avoid being stucked at the first step in your registration of company itself.
6.What are the main costs involved in registration of company, set-up, trade licenses and work permit?
7. What kind of problems generally faced by foreigners setting Malaysia company?
Example of set up costs which may include the followings:
- Company registration fee with Authorized Capital required for incorporation of a Malaysia Sdn Bhd Company
- Trade licenses may be wholesale, retail trade (WRT) and local town council licenses for the premise and advertisement
- In the case of franchise business, your cost will include franchise, training and agreement fees
- Deposit for office/shop space (usually amounts to 2 months of rental and 1 month utility fee)
- Office/Shop renovation costs, furnitures and fittings
- Initial deposit on opening a bank account. The minimum required ranges from RM1,000 to RM5,000 (varies with banks)
- Cost of setting up landlines and broadband (deposit per line is roughly RM450)
7. With this business, what are the visa options available for my family and myself ? There are many kind of work permits of different company structure for foreigners to chose, each has its own purpose and advantages. Check it out which structure suits you!
For those interested using Malaysia as regional business hub and interested to register a company in Malaysia.
Here are 6 keys questions:
1. What is the right type of entity?
2. What is the suitable structure should I have?
3. Do I need any trade licenses?
4. How can I maximise the tax for my profit and personal tax?
5. How fast can the Company being formed complete with 2 years Work Visa for me and my family?
6. What is the difference between local Malaysian Sdn Bhd Company and Labuan International Company
MalaysiaBizAdvisory act as your Independent Business Advisor …helping You to Start Up A Business in Malaysia leading to successful in obtaining Expatriate Work Visa for you and your family complete in just one stop! For each case, we evaluate every details in documentation and profiling of the case from day one start from the point of company registration, this is to ensure all approvals are able to obtain from various governmental bodies to the final stage of visa endorsement, for example if your objective is also getting you and your family the visa to stay in Malaysia.
Starting a Business in Malaysia As Foreigner is made easy by MalaysiaBizAdvisory– your Independent Investment Consultant! We need to know your objective in Malaysia, send us your enquiry with complete information to better advise you the right path to get started.