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Business license in Malaysia
Business license in Malaysia
As requirement of business license in Malaysia whether foreign or local investor has to get permission of new private limited company registration from government registrar companies. The following licenses are required to start business in Malaysia: SSM certified copies (Company Incorporation), WRT License, Import/ Export license, Halal License, SOSCO, EPF, Sign Board, GST and social security.
|WRT License||Apply to Ministry of Trade and Consumer along with supporting documents as below:|
|WRT license is required for the following businesses: Franchise, Consultancy, Retail and Restaurant|
|License is renewal after 2 years.|
|As supporting documents business profile, phone, tenancy agreement and SSM copies are attached.|
|To obtain said license might need one to two months and may longer.|
|WRT license is must for foreign investors, 100% ownership. JV companies are exempted from requirement.|
|Premises Advertisement License||Premise Advertisement License is made under Local government Act, Street & building Act & Legal advertisement Act https://elesen.dbkl.gov.my/UserPages.aspx?id=2|
|Liquor License||It’s a common license that is applied by the following categories of businesses Hotel, Restaurant, Bar, Club-retail and wholesale.|
|Import License||Import license Act is formed by Custom Ordinance, 1998, Custom Act 1967. As supporting papers to apply for same are application form JK69 , SSM certificate, business profile and directors identity. Import license is required to be applied for heavy machinery, Daily product, iron steel, cable and chemical industry-Ministry of International Trade and Industry. Required time: 5-7 days|
|GST (Goods and Service Tax)||Required supporting papers to apply of GST-01 form, SSM certificate, Local licensing certificate and Society registration number, http://gst.customs.gov.my|
|Employees Insurance||Employee’s insurance benefit may require sometimes for the company and have to apply for insurance coverage.|
|SOCSO-Social Security Organization||This permission is required after registration new company and hiring manpower for the company considering physical rehabilitation benefit. Employer-SSM copies and Employee-Employee identity number.|
|EPF||Employer will apply Employees provident fund for financial benefit of the employees.|
|Act of business license in Malaysia|
|Sole Proprietorship and Partnership||
|Recommended business name and style||
|Steps of business license in Malaysia|
|Other business license in Malaysia as requirement||
|License authorities||SSM, MIDA, Local authority, Ministry of Trade & Consumer, Department of Islamic Department Malaysia , SOCSO|
Ans: Normally 2-3 days and in case of delay 7 (seven) days.How long might need to get permission from SSM?
How long may need to get license of WRT?
Ans: Normally might require one to two months.
What type of employees will be benefit for SOCSO?
Ans: Full time and/ or part time worker (s).
How long might need to obtain export/ import license?
Ans: 5-7 days as normal policy.
How long may need to obtain sign board license?
Ans: Within short time, after verifying of local authority.
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