Types of Malaysia Business Licenses for Foreigners
Foreigners who intend to set up a Malaysia Private Limited Company (Sdn Bhd) need to know the various types of Malaysia Business Licenses to apply and qualify for their business activities. The 100% foreign owned company may not be allowed for certain trades which require local Malaysians’ participation (in terms of shareholding and directorship). The requirement and process for the foreigners to to apply for Malaysia’s local town council business license, the same procedures apply to the local Malaysians.
Below are some examples the various types of Malaysia’s business licenses for foreigners from the Malaysia Governmental departments :
EDUCATION – Universities, Colleges, Schools, Tuition Centre, Language Centre License
TOURISM – Inbound, Outbound and Ticketing License
TRANSPORTATION – Car Rental License
MEDIA – For Magazine and Books – Publication License
For TV, Radio, Singing and Music- Broadcasting License
DISTRIBUTIVE, IMPORT/EXPORTS – Wholesale Retail Trade(WRT) License for Trading, Import, Export, Restaurant and Consultancy
FACTORY/MANUFACTURING – Manufacturing License
HOTEL – Luxury Hotel, Budget Hotel License
CONSTRUCTION – Construction Industrial Development Board and Engineering License
ICT – Multi-Super Corridor (MSC) License
DIRECT SELLING – Direct Selling License
MANUFACTURING – Manufacturing License
BANKING – Central Bank License for Banking, Financing and Leasing
The condition of approval for the above licenses may subject to the degree of participation of local Malaysians in the company as Director and/or Shareholder and the paid-up capital.
The most common trade license needed by foreigners is Wholesale, Retail Trade WRT License in Malaysia. This license is applicable to the non-resident company (100% foreign ownership) permission to participate in retail, franchise, restaurant, trading, import, export and consultancy businesses. The WRT license approval only applicable for “unique” types of trade only. [For complete info on WRT License – click here!]
Other categories of Malaysia’s business licences issued by the Malaysian Local Town Councils (such as DBKL, MPAJ, etc) and Fire Brigade Departments may also apply to foreigners who intend to operate restaurants and retail stores.
The approval processing time for business licenses application vary between 1 month to 6 months for each type of license. Most of the time, the relevant ministry will conduct an inspection of premise before final issue the approval of the license.
As a foreigner, before you start your business in Malaysia, it is advisable to have a complete understanding to the type of licenses required for your business. We provide complete solutions for hassle free, convenient to avoid costly mistake, starting from the very beginning when you intend to form a Malaysian Private Limited Company (SDN BHD)
Check with us which kind of licenses required for your business nature and what is the requirements to get approvals from various authorities. Contact us at +603-2181 2882 or email firstname.lastname@example.org. We “simplify your business investment” in Malaysia!