3 Things to Know When Starting a Small Business in Malaysia
Understand Malaysia
Spend some time getting to know Malaysia before you start exploring on which companies can be sustainable here. Do not enter directly into something if you are not sure or are not familiar with. Travel and feel Malaysia, its cities, rural areas, etc. Establish contacts and friends and learn about the land, food, cultures, policies and laws. At the same time, get and stay in touch with trends, fashion and tastes.Find Out the Types of Business -Allowed by The Government
Once you have created a list of possible start-ups, the next step is to find out if a foreigner is allowed to start any of these types of businesses in their sectors, because the government imposes restrictions on the types of industry that an alien can access. But the good news is that there are many industries or areas of activity in which a foreigner can enter and start a business, large or small. Investigate and check with the Malaysian Companies (CCM) or Suruhanjaya Syarikat Malaysia (SSM) Commission on their site or to obtain a local representative such as a company secretary or a law firm or an accounting or business consultancy firm to advise or inform you, to help you starting a business is a good idea.Familiarize with The Laws and Policies
The next step is to make tax and customs payments (such as Taxes on Goods and Services (GST) and Labor Law of Malaysia), as regulated by the Government Regulation applicable to the competence of local law and certain bodies, institutions and agencies. more information. Featured Activity.
In principle, it is good to fully understand the privileges and punishments, advantages and disadvantages, as well as the advantages and limitations of business in Malaysia as a foreigner for the chosen subject and job.
Read Also: how to set up a company in Malaysia as foreigner
Read Also: how to set up a company in Malaysia as foreigner
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