The Type of Business Entities in Malaysia for Foreigners – The Concerns?
“We know what it takes to make your business venture in Malaysia successful!”
Many foreigners were confused as to which is the right entity they should have to start their business in Malaysia. There are overwhelming questions facing by foreigners especially Malaysia is totally new to you! At MalaysiaBizAdvisory, we provide complete solutions in advisory and consultancy from scratch to the final delivery to meet your objectives in Malaysia.
Speak to us on your goal to assist you in the getting the correct path to get all approvals for your new business in Malaysia, to minimize risk and time spend, leading to your success in Malaysia!
The key concerns of the foreigners as follows:
The Type of Business Entities in Malaysia for Foreigners – What are the stages?
“We close the gap the requirements of each ministry to get it right from the first step!”
Best to avoid shocks during the journey of the full process – finally discovered that the business structure formed is not eligible for successful approvals for each stage from licensing to work permit for you and your expatriate’s employees.
The importance of setting up the right business entity for foreigners begins at first step, ensuring all profiling, documentation, each stage connected to each, well presented to the following authorities for the 5 initial stages:
- Registry Commission for your company entity (Companies Commission, Labuan Financial Services Authority, Malaysia Investment Development Authority, etc
- Multiple Industry and Activity Licenses from Local Town Council, Ministry Trade Consumerism, Tourism, Central Bank, Education, Transport authorities, etc
- Letter of Recommendation for relevant authorities to boost your visa application
- Expatriate work permit from the Immigration Department of Malaysia
- Compliance and maintenance keeping company status active (Company Commission, Company Secretary, Auditor, Accountant and Tax Agencies)
[Read: Simplicity of Labuan Company Compliance]
Each authority has its own set of requirement on profiling, setting, and documentation. To minimize risk and cost, it is advisable to set the right profile that enables acceptance by the authorities for all applications.
Getting it right from the first step is crucial to enjoy hassle-free, minimize cost and avoid stressing moments in the whole process!
Stay in touch with us always for regular compliance, onward renewal procedures and work visa! Policies may change without any notice from various authorities!
The Type of Business Entities in Malaysia for Foreigners- Which one is for you?
“Leave it to us to figure it out for you!”
Disregards where the location of your business, most trade licenses, and work visa applications will be handled by relevant authorities with their headquarters situated in Kuala Lumpur, the capital city of Malaysia.
Please note that:
1. It is absolutely important to get the right entity and business structure from the beginning of your intend business in order to get the all necessary approvals from various ministries, to avoid waste time and cost.
2. The right entity will lead you to much tax savings.
3. Company registration costing varies according to the authorized capital, industry and target market.
4. Permission to obtain an expatriate visa under the company will be given according to current industry needs and it may not apply to all industries.