Which is the best business in Malaysia for 2022-2025? Is it small, medium and large business talking about? In a word, here, it has big opportunity to start a business in Malaysia for local Malaysian and foreigners.
You might thinking what business is the best now in Malaysia after Covid pandemic ? Well, tourism, restaurant, food, fashion, SPA, Massage businesses are in worse situation. People think first about live after then fashion and others if surplus money is available.
Always Profitable business in Malaysia
- Spa and massage (not now)
- Electrician supply
- Vegetable supply
- Business card, company letter head, Seal
- Big size photocopy, banner copy and festoon
- E-commerce on cosmetics
- Oil and mineral water export
- Daily goods supply to Singapore
- Property rent and sale
- Furniture and wood business
- Internet and ISP business
- Domain, hosting and website design
- Kindergarten business
- Super shop business
Why Should You do business in Malaysia?
- The economic and political condition of Malaysia is stable.
- In some business sector, foreigners can have 100% foreign owned company.
- Malaysia is now an international business hub because of its strategic location.
- Lower corporate tax rates and flexible tax regime.
- Modern and flexible banking system.
- World class infrastructure.
Information of doing business in Malaysia as Foreigner
|Type of business||Description|
|LLC (Sdn Bhd)||One of the most common business entities in Malaysia. Privat Limited Company is ideal for conducting B2B business.|
|Sole Proprietorship business||This is the simplest form of business entities. Sole proprietorship business needs to pay an annual fee to SSM to keep business renewed every year.|
|Public Limited Company (Berhads)||A public limited company can offer public shares. This is a preferred business model for larger company/Business.|
|Joint Venture/ Partnership||Joint venture business involves more than one owner/Partner. One of the business owners must have Malaysian citizenship and must hold at least 51% shares.|
|Limited Liability Partnership (LLP)||This business entity is a mix of private limited and a partnership company.|
|Limited by Guarantee||Non Profit organisation|
Tax Free Zone Area Business in Malaysia
Except Labuan company there are many FREE zone areas in Malaysia for importer and exporter. Import and export licenses are managed by S & F Consulting Firm. One main obligation is land and office space in free zone is not available. Some cases, private property is leased for long term and taken land under free zone area. Custom duty and free goods from customs are hassle free.
General Process of doing business in Malaysia
|First Step||Reserve Your Brand Company Name||You need to brainstorm at least 3 names. Write three-name suggestion at “BORANG PNA” form.|
|Second Step||Check the availability of company name||Register at SSM online portal.|
By using SSM online portal check the name availability.
|Third Step||Complete “BORANG PNA 42” form||Enlist three trade names in the form.|
The name must be relevant to the business.
Explain the nature of the business.
|Forth Step||Complete “BORANG A” form||Complete the form with all the necessary information such as-shareholders details|
|Fifth Step||Submitting “BORANG PNA 42” & “BORANG A”||Attach both form and submit it to the SSM Head Office.|
SSM Operation Hour-Monday – Friday (8.15 am to 4.15 pm)
Types of Business License in Malaysia
|Manufacturing Business or Factory||Manufacturing License|
|Direct selling Business||Direct selling license|
|Transport||Car rental / Vehicle Leasing License|
|Restaurant Business||Halal License, Liquor License|
|Tourism Business||Ticketing License, Inbound, Outbound|
|Construction Business||CIDBEL (Construction Industrial Development Board and Engineering License)|