Malaysia Hotline: +603- 2141 8908
Companies doing the following businesses are required
to obtain special licenses:
i) Manufacturing
Manufacturing companies which employ at least 75
full-time employees are required to apply for manufacturing license from MIDA.
ii) Banking
Under the Banking and Financial Institutions Act,
1989, the Malaysian Central Bank licenses and regulates businesses such as
banking, money broking, discount houses, provision of credit and finance,
merchant banking, deposit taking and certain other financial businesses.
iii) Building and Construction
All Companies in this field must obtain a licence
from the Construction Industry Development Board (CIDB) prior to incorporating
in Malaysia and before undertaking any construction and related activities in
the country.
iv) Oil and gas industry
When incorporating in Malaysia, companies which
wish to explore and develop upstream oil and gas reserves in Malaysia are
required to sign a production sharing agreement with Malaysian state Oil
Company Petronas.
v) Wholesale and Retail Trade
When incorporating in Malaysia, note that all
proposals for foreign involvement in wholesale and retail trade must obtain the
approval of the Committee on Wholesale and Retail Trade (CWRT).
There is no restriction on maximum shareholding
i.e. foreigners can own 100% of a company. If they own more than 30% of any
company, they will be required to apply for Foreign Investment Committee
approval, the process of which takes more than 6 months but approval is
normally given. Normally, small businesses will not apply for any FIC approval
unless there is business with the government departments.
Wholesale and Retail Trade (WRT) license is
required by all companies that are in the wholesale, retail, trading,
import/export and restaurant business which have foreign shareholding. The WRT
license is required by all the said business sectors before they can apply for
a professional work permit.
The Companies with foreign ownership that are
engaged in distributive trade are required to obtain a wholesale and retail
trade (WRT) license from the Malaysian Ministry of Domestic Trade and Consumer
Affairs (MDTCA). For WRT, the minimum paid up capital requirement is RM 1
million. Other companies with foreign ownership that are not engaged in
distributive trade do not require a WRT license.
Contact us
If you have further queries, please contact Tannet
24 hours Malaysia hotline：603-21418908;
24 hours Hong Kong hotline：852-27837818;
24 hours Hong Kong hotline：86-755- 36990589;
Email: mytannet@gmail.com
TANNET GROUP : http://www.tannet-group.net, http://en.tannet.com.my