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 types of trades as it requires local Malaysians’ participation (in terms of shareholding and directorship). Besides the Business License, the foreigners may require to apply for other types of Malaysia’s local town council business licenses. The business and town council licenses requirement and application procedure also apply to the local Malaysians.
Below are some examples the various types of Malaysia’s business licenses for foreigners from the Malaysia Governmental departments: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 are 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 the type of business licenses you may required for your business set up in Malaysia 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!