Malaysia is regarded as one of the most prosperous countries for establishing new businesses in Southeast Asia, as the country offers a variety of advantages as an investment destination. With its robust economic growth, the country has become an ideal gateway for foreign investors to enter the other markets in the region for the purpose of establishing a business.
Malaysia offers opportunities and capabilities across the value chain, whether it is manufacturing, distribution, or technical expertise in the services sector. In addition, a significant advantage of Malaysia is the ease of starting up a business, which requires only three procedures, takes less than seven days, and requires fees of only 7.2% of income per capita. Malaysia’s government has also provided many incentives, grants, and tax benefits to investors for setting up businesses.
The first step is for companies to determine the type of business they wish to enter, as well as the legal entity they wish to establish, as both factors will affect the registration process.
SdnBhd or Joint Venture SdnBhd
When you establish a SdnBhd or Joint Venture SdnBhd, you should conduct a name search and reservation with the Registrar of Companies.
Suruhanjaya Syarikat Malaysia (SSM)has updated the form for Availability of Name (Request for Availability). SSM will reserve a name for 30 days if it is available and approved.
As part of setting up a Labuan company, you will need to apply for approval with the Registrar with a fee of RM 50. The name will be approved within 24 hours and can be reserved for up to three months. Labuan Financial Services Authority may reject a name if it is undesirable.
A business address or location is also required. As well as establishing a bank account and applying for a work permit, this is essential. If you reside in Malaysia or intend to travel there, you can rent an office or consider the use of a virtual office to reduce your overhead costs.
Incorporating an SdnBhd, Joint Venture SdnBhd or a Labuan company requires the following documents:
A registration fee of RM 1,000 is required to establish an Sdn Bhd. After payment, a Certificate of Business Registration will be issued within one hour.
We provide guidance on how to start a business, how to make a business plan, how to open a business, how to start and run a business, and how to set up a business in Malaysia.
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