Want to Obtain a Business License in Malaysia? Here's What You Need To Know
The silver lining of #Covid19 pandemic? New business opportunities!
This is for those with extra time to finally pursue their business ideas or those who lost their job and decided to start a business. While some may be experts and know the A-Z of setting up a business, there are others who are literally just winging it and tend to overlook the important details.
📃 Here’s a reminder to have a VALID BUSINESS LICENSE if you are running a business in Malaysia. If you operate your business or company without the required license or permit, the authorities could close your company and/or impose severe penalties (and that’s the last thing you need right now!).
All business in Malaysia are required to obtain a business license before they can commence operations. The type of business license in Malaysia that you will need depends on the industry that you are involved in.
Business licenses are divided into three categories:
Industry or sector specific licenses
Activity specific licenses
Before you can apply for any kind of business in Malaysia, you must incorporate a company in Malaysia. Especially since the license you require depends heavily on your business idea, activities and the industry you will be involved in. Both local and foreign owned companies will have to be registered through Suruhanjaya Syarikat Malaysia [SSM].
Appointing a Company Secretary is an important part of your company incorporation in Malaysia process. The Company Secretary is the one who will ensure that your incorporation documents comply with the local requirements.
Once your application is successful, you will be issued with a certificate of incorporation. You will then be required to apply for and open a bank account for your business, and only then will you proceed with all the license applications you need.
If you have any questions about business license and business registration in Malaysia, get in touch with us via https://wa.me/60122192492 📲 We provide professional corporate service and are happy to assist you further.