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Services of Business Setup in Malaysia
Malaysia is one of the most vibrant countries in Southeast Asia for starting a new business, where it offers many advantages as an investment destination for starting an online business. The robust economic growth has positioned itself as the ideal gateway for foreign investors to enter the other markets in the region for setting up a business. Malaysia offers opportunities and capabilities across the value chain, from manufacturing to distribution or technical expertise in the services sector for starting a new business. Another attractive point is ease of starting a business in Malaysia where it only requires 3 procedures, less than 7 days and costs only 7.2% of income per capita in fees. Also, the government pro business environment has provided many incentives, grants and tax benefits to investors in Malaysia for setting up a business.
Looking at the country’s GDP, the domestic demand in Malaysia contributes to more than half of its GDP. Coupled with the government’s efforts, the market offers thriving opportunities for companies providing consumer goods and services which will, in turn, ease the cost of living. Furthermore, Malaysia is well-recognised as a global leader in Islamic financial services, according to the Global Islamic Finance Report 2016 (GIFR 2016), after overtaking Iran in terms of the Islamic Finance Country Index (IFCI).
The following pages provide guidance on alternate options on how to start a business, how to make a business, how to start a business plan, how to open a business, how to start a new business, and how to set up a business in Malaysia.
Branch Office Registration Malaysia
Instead of incorporating a new company in Malaysia for starting an online business, the foreign investor may choose to incorporate his existing company here in Malaysia as a branch office. A branch office is meant for foreign investors if they plan only marketing operations in Malaysia. More paperwork is required in the procedures for a branch office and the fees are based on the share capital of the foreign parent company overseas in foreign currency (which will be converted to Ringgit Malaysia at the current exchange rate).
Malaysia Representative Office Setup
Malaysia representative office in Malaysia means that a foreign company in Malaysia could perform certain limited activities for its head office or principal through the representative office. As such, a representative office does not have to be incorporated as a. However, a representative office cannot have any business transaction or derive any form of income [from its operation] in Malaysia.
Please note that the application for permission to set up a representative office must be obtained from the government:
- Ministry of Trade and Industry (MITI )- for trading businesses
- Malaysia Investment Development Authority (MIDA) – for investment in manufacturing and services
- Bank Negara Malaysia -for foreign banks
- Ministry of Tourism – for travel related services
Shelf Company for Sale
A shelf company is one that is already registered with the SSM or Companies Commission of Malaysia, which is the official regulator of all companies operating legally in Malaysia. Shelf companies are companies that have been registered as general trading, and therefore, they are able to perform all types of businesses so long as the operations do not contravene the local laws and regulations of the country. If additional permits and approval are required, they must be done so before the company commences business operations.
To engage with the reliable services of Business Setup in Malaysia, please contact us via email for more information about how to start a business, how to make a business, how to start a business plan, how to open a business, how to start a new business, and how to set up a business in Malaysia.