Malaysia offers the foreign entrepreneur a wonderful opportunity to enter a thriving domestic market and if you are looking to expand your business in a southeast Asian nation, Malaysia is an ideal choice. In this article, we offer the entrepreneur useful information about the wide range of services that specialised companies offer.
The first thing to do when looking to set up a business in Malaysia is to register the business and to do that you need a specialised local law firm who can advise you on the best type of business registration and process that registration on your behalf.
Types of Businesses
There are 3 main types of business that a foreigner can register in Malaysia, which are as follows;
- Representative Office – Ideal if you are looking to carry out extensive market research, this non-trading entity supports foreign employees and is the most common new business registration in Malaysia, as it is an important first step towards trading in Malaysia.
- Private Limited Company – This is a trading entity that can be 100% owned by a foreigner and the business is subject to local laws. If you would like to learn more about setting up a business in Malaysia, search with Google for a local law firm that specialises in business formation in Malaysia.
- Foreign Branch Office – This is perfect for an international company that wishes to open a branch office in Malaysia and you do need to have a resident agent, while this package does offer a business visa.
The law company that you contact regarding the business registration can advise you on the best possible type of company set up, which is a very valuable thing that ensures you have the best chance of success. The law firm would be happy to give you a free video call to discuss the various options and when you are ready to move ahead, they can process the business registration. Here are a few tips on designing your new business website, which is an essential aspect of setting up the business.
Aside from setting up the business on your behalf, the legal firm offers a wide range of business services that include the following.
- Bookkeeping & Accounting – Once the business is up and running, you will need a local company to keep your books up to date, according to local laws.
- Secretarial Services – Every company in Malaysia must have a company secretary who should be a resident of the country and licensed by the SMM. This person ensures that the company complies with local laws and this person reports to you on a daily basis, making sure that everything is up to date.
Here is some Malaysian government information about the current Covid-19 situation, which you should read before making any travel plans.
The first step would be to make contact with the right law firm that is based in Malaysia and they can offer you the best advice regarding the most suitable business registration package and within a few weeks, your new business will be ready to go.