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.
| Quick Facts | |
|---|---|
| Who needs a business license in Malaysia? | Any person deciding to develop a business in Malaysia |
|
A business license in Malaysia is also known as |
Business Premise License or “Lesen Premis” |
|
Types of business licenses in Malaysia |
General licenses, industry-specific licenses, and sector-specific licenses |
| Institution in charge | Pihak Berkuasa Melesen (PBM), plus local agencies/authorities |
| The most common business licenses in Malaysia |
Office license, food & beverages restaurant license, warehouse business premise license, barber shop license |
| Documents solicited |
– Certificate of Incorporation, – rental agreement, – application form for a business license, – ID of the applicant, – photos of the business premises, etc. |
| Representative/agent required |
Not mandatory, but recommended, especially for foreign entrepreneurs. Our agents in Malaysia can help you. |
| Food truck license in Malaysia |
Approved in about 4 months. Local permits/approvals must also be obtained. |
| Industry-specific business licenses |
For: – manufacturing, – telecommunication, – broadcasting, – oil exploration, etc. |
| License duration | 3 years. It can be renewed if all conditions are met. |
| Financial license in Malaysia |
Issued by the Securities Commission in Malaysia for foreign investors wanting to engage in the financial sector |
| Applying for a business license online or in person |
Both options available. Assistance is offered by our Malaysian agents. |
| Fines for not having a business license in Malaysia |
Up to RM 20,000, plus suspension of business activities, etc. |
| Costs for a business license in Malaysia |
Might vary depending on the business activities, premises, operations, etc. |
| Working with our Malaysian agents | We help local and foreign entrepreneurs get business licenses in Malaysia by managing the formalities and collaborating with the local authorities. Complete services at affordable prices. |
Table of Contents
Types of business licenses available in Malaysia
Those who want to carry out their activities in Malaysia must first familiarize themselves with the formalities and procedures for obtaining a business license in Malaysia. Here are some of them:
- general/sector licenses,
- industry-specific licenses,
- activity-specific licenses.
The general category of licenses that are required for any business in Malaysia includes: business premise licenses and signboard licenses, social security organization, employees provident fund, company and employees income tax registration, etc. As for industry-specific licenses in Malaysia, these are required for manufacturing, telecommunication, broadcasting, construction, oil exploration, banking, and more.
Activity-specific licenses require the business owner to fulfill sets of defined procedures intended to protect the interest of the citizens, work safety, environment, employment, and the general public. We advise you to collaborate with our Malaysian agents and ask for assistance in order to obtain the desired business license. You can also discover this infographic with details on this subject:
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 business license in Malaysia entails:
- 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 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. Plus, you can discover this video presentation with details on this topic:
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.
Who requires a trade license in Malaysia?
A trade license in Malaysia is required for business owners in the import and export sector. In this case, this license is required for retailers, direct sellers, wholesalers, franchisors, suppliers who distribute goods to the domestic market in Malaysia, and commission agents/representatives like international trading companies involved in Malaysia’s import and export sector. Such trade licenses and other approvals are issued by the Ministry of Domestic Trade and Consumer Affairs in Malaysia. Please feel free to discuss all the details regarding the trading license in Malaysia with our local agents. Our experts can assist in all procedures and paperwork on behalf of customers interested in starting a business in Malaysia and getting a license first.
The financial license in Malaysia
Businessmen who want to open a company in the financial sector must first apply for a license with the Central Bank of Malaysia and also with the Securities Commission of Malaysia for certain approvals. The process is transparent and straightforward and can be carefully managed by one of our local agents. A financial license in Malaysia can be issued for:
- banks, including digital ones,
- brokerage,
- investment companies,
- insurance,
- payment service providers,
- e-money issuers, etc.
Please send your inquiries to our Malaysian agents if interested in applying for a financial license in Malaysia.
Short conclusion about the business 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 business license in Malaysia considering the activities that the company is going to carry out.
- Local and national authorities issue business licenses required for companies 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 business 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.