A business must comply with certain types of licensing,
which may be general licenses, industry / sector-specific licenses, or
activity-specific licenses before any business can be legally started
operating. Laws are authorized by law licenses and governed by various
government agencies, statutory bodies and local authorities. Business licenses
include registration, approval, license, and permit include Compliance
requirements vary by industry, business operation, and location.
Business licenses can be divided into 3 different logical
groups, namely:
- General license
- Sector/industry-specific licenses
- Activity specific license
General license
General licenses are the necessary licenses that will apply
once investors decide to start a business in Malaysia.
The general list of licenses, which may apply to a business,
includes:
- Company registration
- Income tax registration of companies and employees
- Employee Provident Fund
- Social Security Agency
- Human Resource Development Fund
- Business Premise License and Signboard License
Businesses in Malaysia need to apply for a premise business license and signboard license from the respective state authorities. Application
requirements may vary according to each local authority.
Generally, the following documents are required to apply for
a Business Premises License and a Signboard License, but the list of documents
to apply may vary according to each local state authority:
For the company
- Company Certificate (Form 9 / Notice Section 17) - 1 copy;
- Details of Directors, Directors, and Secretaries (Form 49 / Notice 58) - 1 copy;
- Previous photos of your business (front and center interior);
- Any director's NRIC / Passport 49 form/notice as described in section 58 - 1 copy;
- The design and color of the signboard sample (if applicable);
- Showing the location of the photo signboard (if applicable)
Limited Liability Partnership (LLP)
- Certificate of Article - 1 copy;
- E-SSM Business Profile - 1 copy;
- Previous photos of your business (front and center interior);
- NRIC / Passport - 1 copy of any partner described in the business profile;
- The design and color of the signboard sample (if applicable);
- Showing the location of the photo signboard (if applicable).
For Enterprise (single owner/partnership)
- Business registration certificate (Form D) - 1 copy;
- E-SSM Business Profile - 1 copy;
- Previous photos of your business (front and center interior);
- NRIC's copy of any business owner/partner described in Copy 49 - 1;
- The design and color of the signboard sample (if applicable);
- Showing the location of the photo signboard (if applicable)
Sector / industry-specific license
Sector / Industry Specific licenses are individual licenses
for a specific industry or sector as specified by the government. These include
major policies that govern the development of specific industries or sectors in
line with the country's development policies.
Please refer to MalaysiaBiz to confirm that you should
contact any government department authority regarding sector/industry
specific licenses.
Some examples of sector / industry-specific licenses are:
·
License related to the manufacturing sector
·
A company with a paid-up capital/shareholder
fund may apply for a confirmation letter stating that the company is exempt
from licensing licenses. The applicant should submit a copy of the ICA 10 form
along with a copy of the following documents: -
-
Memorandum and articles of association /
constitution
-
Organization Certificate (Form 9 / Notice
Section 17)
-
Registered Address (Form 44 / Notice Section 14
and Notice Section 46 (3))
Wholesale, retail trade licenses
· The most common license for a foreign-owned
company is the Wholesale, Retail Trade (WRT) License. This WRT license applies
to any foreign participation in Malaysia Distribution Trade Services (i.e. 5%
or more of foreign equity), wholesalers, retailers, franchise practitioners,
direct sellers, suppliers, who channel their products into the domestic market,
and less channel, or less. Other representatives, including international
trading companies. Prior to applying for a professional work permit, WRT license is required in all
alleged business sectors. For WRT, the minimum paid-up capital requirement will
be $ 1 million, with full setup of the business, a valid tenancy agreement,
phone lines, etc. Please accept the official portfolio of the Ministry of
Commerce, Co-operate
·
License related to the telecommunication sector
·
License associated with the broadcast area
·
License related to the oil field
· The Malaysian founding company is keen to find
and develop oil and gas reserves in Malaysia, while they will have to sign a
joint production agreement with Petronas State Oil Company in Malaysia. For
more information, visit the Petronas website at www.petronas.com
·
Construction-related license
·
All companies involved in construction and
construction must obtain the Construction Industry Development Board (CIDB)
license before joining Malaysia and undertake any construction and related
activities in the country. For more information, visit the CIDB website at www.cidb.gov.my
·
License related to banking sector
·
According to the law of financial and banking
institutions, २०१ Central Bank of Malaysia
regulates and regulates business in Malaysia such as banking, financing,
discount house, credit, and finance provision, commercial banking, deposit
taking and some other financial business. For more information, visit the Bank
Negara website at www.bnm.gov.my
Specific activity license
Special activity licenses are licenses that govern specific activities and can be applied to one or more industries or regions. In this type of license, the investor should follow a set of specific guidelines to protect the interests of citizens, employment, and protection of workers, the environment and the interests of the general public.
Examples of specific activity
licenses:
·
Fitness certificate for certified equipment
·
Approval for Traveling Positions
·
Approval to install / resize / change air
pollution control equipment (bag filters and fireplace)
·
Approval of the construction plan.
·
Sales tax license
The above information is a general
guide to potential investors and business owners on the initial steps,
decisions and plans of the business.
No comments:
Post a Comment