The perfect guide to starting a business in Malaysia as a foreigner

Starting a business in Malaysia

Malaysia is a central business hub that attracts many foreign investors. With the extensive transport and accessibility, many foreigners choose to set up their businesses here. However, before starting a business in Malaysia, there are several factors to consider. Here are some steps that will guide you towards successfully setting up your business in Malaysia.

Identify the type of business you are passionate about. Specific industries require majority of local shares or do not allow 100% foreign share. Thus, you need to weigh and decide the allocation of ownership for the business entity.

Before the operation commences, the company will need to obtain a license from the relevant authorities. The nature of the business will determine the Malaysia license you will need to apply.

Ensure the license and work permit is approved before you commence any activity.

Most of the investment capital will be channeled into setting up the business. You will also need to consider the cost for the relevant license that will vary according to the complexity of business and work permits if you are hiring foreign workers.

After you have successfully incorporated the company and obtain the relevant license, you can proceed to apply for a visa for you and your family to relocate to Malaysia.

Find out the challenges that you are likely to face as a foreign entrepreneur in a foreign country so you can anticipate the circumstances.
 

Conclusion

Aside from the formalities, Malaysia does not have stringent measures that limit foreign business.  For foreigners to set up a business in Malaysia, it comes with commitments and perseverance. We hope the factors listed above provide an overview of the details a foreigner needs to pay attention to.

To get comprehensive information on this topic, please refer to The perfect guide to starting a business in Malaysia as a foreigner.

If you need someone to consult for a business opportunity, feel free to WhatsApp +65 8483 3084.   

We help entrepreneurs and corporations with company incorporations, work visas, & annual compliance! Paul Hype Page offers free advice on navigating regulations.   

Paul Hype Page & Co offers services in areas such as consultancy, company incorporation, auditing, taxation, immigration, and regulatory compliance services. We can serve any of your business-related needs. Contact us for further information.