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 in Malaysia?
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? Starting a Business in Malaysia As a Foreigner
4. Which trade licenses required for my business? My aim to start a franchise business – how to get started?
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 stuck at the first step in your registration of the company itself!
6. What are the main costs involved in the registration of the company, set-up, trade licenses, and work permit?
7. What kind of problems generally faced by foreigners setting up a Malaysian company?
8. With this business, what are the visa options available for my family and myself? There are many kinds 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!
Example of the setup 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 a 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, types of furniture and fittings Starting a Business in Malaysia As a Foreigner
- 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)
For those interested using Malaysia as a regional business hub and interested to register a company in Malaysia. Here are six (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? Starting a Business in Malaysia As a Foreigner
4. How can I maximize the tax for my profit and personal tax?
5. How fast can the Company being formed complete with two (2) years’ work visa for me and my family?
6. What is the difference between local Malaysian Sdn Bhd Company and Labuan International Company?
Labuan jurisdiction offers a wide range of business solutions permit you to own all the entities 100% ownership without the need to have local Malaysians involvement. Labuan tax rate is low at 3% for a trading company while investment holding company attracts zero tax!
Check all out more at www.LabuanBusiness.com.
Visit www.LabuanWealth.com complete information on Labuan Private Foundation – only in Asia which is protected by Foundation Acts – a perfect wealth management tool for your wealth succession and legacy! Check it out for more and more high net worth individuals like Labuan Private Foundation!
MalaysiaBizAdvisory is here to assist you to a quick start up a business in Malaysia leading to success in obtaining an expatriate work visa for you and your family complete in just one stop! For each case, we evaluate every detail 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 right 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 inquiry with complete information to better advise you the right path to get started.