As we all know the Malaysian economy is developing at a faster rate. Both local and foreign investors are responsible for this growth. Besides, it is very easy to register a company in Malaysia. It is also a very friendly place to do business. Wondering how to start business in Malaysia? Read on to know about it.
Starting a business in Malaysia involves 3 steps and they are
- Preparation For Registration
- Post Registration Formalities
Preparation for Registration
This step involves knowing about the basic requirements to set up a business and arranging them, such as choosing your company name, hiring qualified officers, capital requirements, etc.
Selecting the appropriate business entity is very important to start a company in Malaysia. Identify which entity best aligns with your aims and objectives, it is required to do some research.
- Branch Office
- Representative Office
- Sole Proprietorship
- Subsidiary Company
Choosing Your Company Name
After choosing a suitable entity, it is time to choose a name for your company.
After finalizing the company name, it is important to check with the SSM. Once the name check is done, name registration needs to be done with SSM. After receiving the approval, the name which you have selected will be booked for your business. Ensure that you follow the guidelines when selecting the name for your company.
Once the preparation is done, register your company with the relevant Malaysian authorities.
This stage involves opening a bank account for your business, hiring auditors, provident fund registration, learning about business licenses, etc.
Managing everything on your own would be very difficult for you, especially if you do not have any knowledge about it. To stay peaceful and to focus on the other important things related to your business, hire a service provider who can help you in this task.
For Malaysia company incorporation, contact the team of a service provider like 3E Accounting Malaysia. This company has helped many individuals in setting up a business in Malaysia, within no time. Check their website to know in detail about their services.