One of the ways of opening a company in Malaysia is by registering a startup. A Malaysia startup refers to a type of business that is incorporated following the standard registration procedure and which will carry business operations related to the technology field in this country. Since startups can be used for the development of a wide range of products that can accelerate the expansion of numerous economic sectors, they generally benefit from various types of incentives, such as tax benefits and deductions, government grants, specific regulations created especially for the startup industry and others; considering these aspects, investors can request information on the startup environment available in this country from our team of consultants in company registration in Malaysia.
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The registration of a Malaysia startup begins by selecting a legal entity. Foreign investors have several options in this sense. They can register a partnership, a limited liability company, or a public limited company. Foreign investors are also allowed to enter a joint-venture, if they prefer this option of investing in a startup.
As a general rule, most of the businesses operating here, including the Malaysia startup, are registered as limited liability companies. This company type requires a company secretary and a director (the latter can be the company’s shareholder); it is also necessary to have a registered address in Malaysia and deposit the required minimum share capital. When appointing a company secretary, investors can select a licensed company secretary registered with the Chartered Secretaries and Chartered Governance Professionals in Malaysia.
The registration of a Malaysia startup also involves signing a set of company documents, including the company’s statutory documents. Investors must also prepare a suitable company name and register with the Companies Commission of Malaysia and with other authorities (for social security, taxes, accounting, etc.). Our team of consultants in company formation in Malaysia can offer additional information on this process.
Yes, all companies operating in Malaysia as startup businesses can protect their trademark and their patents. The latter is especially important, given the fact that most of the Malaysia startup companies will create a new product on the local market that needs to be protected from any infringements. This can be done by registering with the Intellectual Property Corporation of Malaysia.
There are multiple advantages in opening a company in Malaysia, as the country provides a vibrant business environment, backed up by suitable legislation, designed to meet the needs of local and foreign investors operating in various industries. A Malaysia startup has multiple benefits, as the country has gained the reputation as being a startup hub in its region. Some of the main benefits are presented below:
An advantage of opening a company in Malaysia as a startup business is that the local authorities have created suitable programs that can help such companies expand at a fast pace. For example, Malaysia startups can participate in the Malaysia Tech Entrepreneurship Program, which can be accessed by a newly founded business or by investors who already activate in the tech industry.
In order to be included in this program, investors should be able to provide information on their business model; they should also present personal bank statements registered with Malaysian banks as well as with foreign banks, where applicable, and a certificate of good conduct. As a general rule, most of the investors receive a confirmation on their participation in this program in a period of 4-6 weeks.
As mentioned earlier in this article, a startup company in Malaysia can run under the rules of a limited liability company, whether public or private. The main difference between the two entities available for business in Malaysia is that the public one allows company shares ownership to investors while the other one does not. Here are a few requirements to consider for opening a startup company in Malaysia by registering a limited liability company:
The registration procedures of a limited liability company in Malaysia can take up to several days. We suggest you get in touch with one of our company formation agents in Malaysia and benefit from comprehensive assistance in matters of registration and related formalities.
A startup company in Malaysia needs a business plan before incorporation. All the strategies of the future Malaysia startup must be described in detail by such a plan. We present you a few considerations and aspects of a proper business plan for a startup company in Malaysia:
A solid and complete business plan is needed from the start, so you might want to discuss all the details with our agents. We can assist international entrepreneurs to start a business in Malaysia.
Malaysia offers a wide range of business possibilities and already hosts a large number of companies. A successful business depends on many factors, however, it is recommended to pay attention to a few important aspects:
For additional details on how to open a local business operating as a Malaysia startup, we invite you to contact our team of consultants in company formation in Malaysia.