Are you an expat, getting ready to start a business in Malaysia? How far do you know about this country?
You will be happy to know that the destination you have chosen for your
investment plan is fabulous. Malaysia is, by far, one of the one of a rapid growing
country in Asia.
You can see: What is a good business to start in Singapore?
There are vast opportunities to open various potential
companies here. But when there are opportunities, there are bindings. The
bindings here come up in form of legal procedures and authentications. It is
usual that a country will have several legal procedures for company opening.
So, to open a company here, you must go through several stages and procedures.
As we go deep into this article, it will provide good measures of explanations
on each process.
- At the initial stage of business registration procedure, hire a company secretary. The secretary carries out all the company registration procedures. This staff will engage in preparing draft of MoA, AoA, and all registration forms. This staff is also responsible of submitting all documents to authorized departments.
- Propose a unique name for your company. The SSM of Malaysia will verify your company registration documents company name. They will also consider approving your company name. The name approval might take 1 to 2 working days. There is a fee of RM 60 for name registration process.
- Set paid up capital of at least RM 5000. You can later on increase this amount according to your company's expansion and needs.
- You have to pay a government fees of RM 1010, to carry out the registration process.
- Get your incorporation certificate. this should not take more than 2 working days. During this time secretary needs to buy a super form. You can collect this from mydata SSM.
- The secretary also has to arrange board resolution in that time.
- At this phase of registration process, you have to open a business account in your company's name. Avoid local banks and go for banks like HSBC, UOB, OCBC.
- At this stage you need to arrange a tenancy agreement for renting business premises. Once signed, this agreement will be valid for at least 12 months.
- Now you have to collect several business licenses in this stage. In general Premises license, Halal license and signboard license are of importance.
- If you have completed all the steps above, you can now apply to ESD. Here you check your company status.
- You have to have a work permit if you want to work in this country. So, the last stage of registration process is to apply for investor visa. You might also consider hiring foreign staffs by now. On completing this phase, you now have all validations needed to start your own company.
If you are looking for any
further business help, please consult with S & F consulting firm.
Professional trade consultants here are ready to assist you in every business
query. All you need to do is seat back and relax, while experts of this company
carry out all the formalities behalf of you.
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