Are you interested in a business license in Malaysia? Our specialists in company formation in Malaysia can help you in this direction. We can prepare the documents and many other formalities related to the business permit in Malaysia. In the following lines, you can discover more information about this subject.
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How to apply for a business license in Malaysia
A business license in Malaysia is required before starting activities in this country. Here is what a trading license in Malaysia entails:
- There are 3 types of business licenses in Malaysia: general/sector, industry-specific and activity-specific licenses.
- Pihak Berkuasa Melesen (PBM) is the institution that receives applications for a business permit in Malaysia.
- Licenses and permits, approvals, and registrations are administered by the national/local/statutory authorities in Malaysia. You can contact us if you are interested in a trade license in Sarawak, for example.
- The relevant authorities require a company registration certificate, ID documents, proof of business address, and business plan as part of the application for a WRT (Wholesale Retail Trade) license in Malaysia.
- Recent financial statements are also requested when applying for a business permit in Malaysia.
We remind you that when you want to open a company in Malaysia you will need a business license. Here we recommend the services offered by our local agents when interested in a business license in Malaysia, including a food truck license in Malaysia.
Authorities that accept business license applications in Malaysia
A company can apply for a business permit in Malaysia with one of the following authorities:
- government agencies,
- service centers,
- local municipalities.
- with the help of professional services, as provided by our local specialists in Malaysia.
You can use our professional services for support when filing with any of the authorities above. Do not hesitate to contact us for company formation in Malaysia and application for a business permit. Our local agents collaborate with the authorities to issue a business license in Malaysia.
Business license fees in Malaysia
The costs for issuing a business permit in Malaysia can vary. They are established according to:
- the type of business license in Malaysia,
- license duration,
- the location of the business in Malaysia,
Extra charges that are communicated at the time of WRT license application in Malaysia. In any case, you have at hand our services for company incorporation in Malaysia, including when applying for a trade license in Malaysia.
What are sector industry-specific licenses in Malaysia?
There is a special category of business licenses in Malaysia, which includes various activities. Thus, a sector-specific industry license in Malaysia is necessary for the:
- manufacturing sector,
- oil exploration sector,
- banking sector,
- construction sector,
- broadcasting sector,
- National Water Services, etc.
If you want to set up a company in Malaysia and obtain a business license in the industries and sectors mentioned above, we invite you to contact us.
What is an activity-specific license in Malaysia?
There is a special category of licenses, and this refers to activity-specific licenses that regulate particular occupations in varied sectors in Malaysia. In this case, company owners must follow and comply with particular guidelines before starting their activities. Below are some examples of activity-specific licenses in Malaysia:
- sales tax license;
- approval for expatriate posts;
- building plan approval;
- license for installing air pollution control equipment;
- certificate of fitness for certified machinery.
Those who want to open a business in Malaysia and want to obtain activity-specific licenses such as those mentioned above can opt for the services offered by our specialists. We ensure that all documents are filled out correctly before submitting them to the relevant institutions in Malaysia.
Short conclusion about trade license in Malaysia
Obtaining a business license in Malaysia can be a relatively simple process if the rules and legislation are taken into account. It is important to know the activities and the type of licenses required. Here are some of the essential aspects that describe the insurance business license process in Malaysia:
- It is recommended to apply for a trade license in Malaysia considering the activities that the company is going to carry out.
- Local and national authorities issue trade licenses required for businesses in Malaysia. In certain cases, supporting documents from ministries in Malaysia are needed.
- The validity of a business license in Malaysia is one year, with the possibility of extension. A specific fee is paid.
- Applicants must present valid identity documents when submitting the file for obtaining a trade license in Malaysia.
- The costs for obtaining a business license in Malaysia are determined according to the category, type of activity, nature of business, premises, etc.
- Once the business license is issued, business owners receive a signboard and placement approval for it. The signboard is issued in the Malay language.
We recommend the services of our Malaysian agents when applying for a business license. The process can thus be greatly simplified because our specialists know the procedures and collaborate with the relevant authorities.
Statistics about companies in Malaysia
Malaysia is an excellent business destination for local and foreign entrepreneurs, and the following figures underline this:
- There were over 8,481,000 registered businesses in Malaysia at the end of 2022.
- Around 12% of the businesses registered at the beginning of 2023 were limited liability partnerships in Malaysia.
In addition to the assistance offered for obtaining a business license in Malaysia, our specialists can help you with other aspects. You can, for example, talk to our accountants in Malaysia and make sure you comply with the law when starting a business in Malaysia. Contact us for extra details.