Starting, Running and Growing Business in Malaysia

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Starting, Running and Growing Business in Malaysia

Meysam Safari,
University Putra Malaysia

Table of Content
•Introduction ------------------------------------------------------------------------------------------- 3 •Malaysia ------------------------------------------------------------------------------------------------ 4 •Business types ---------------------------------------------------------------------------------------- 19 •Companies Commission of Malaysia ----------------------------------------------------------- 30 •Federation of Malaysian Manufacturer ------------------------------------------------------- 51 •Malaysian International Chamber of Commerce and Industry (MICCI) --------------- 59 •Ministry of Finance Treasury Registration (Pendaftaran Kementerian Kewangan)-60 •ASEAN Free Trade Area (AFTA) ------------------------------------------------------------------ 61 •Work Permit------------------------------------------------------------------------------------------- 64 •Malaysia My Second Home ----------------------------------------------------------------------- 65 •Appendix 1: Form A (Registration of a Business) ------------------------------------------- 67 •Appendix 2: Form A1 (Application for Renewal of Business Registration) ----------- 72 •Appendix 3: Form B1 (Registration of Change in Main Business Address) ----------- 73 •Appendix 4: form B2 (Registration of Change in Nature of Business) ----------------- 75 •Appendix 5: COMPANIES ACT 1965 ------------------------------------------------------------ 77 •Appendix 6: Useful Links -------------------------------------------------------------------------- 88


Malaysia's fifty years of nationhood marks another milestone in its economy development. Upon independence the nation was highly reliant on tin and rubber and more than half of the populations were in poverty. Today, Malaysia is a broad-based and diversified economy. It is the 19th largest trading nation in the world, with trade in excess of RM1 trillion. Malaysia continues to enjoy political stability with a diverse yet united population. At the same time, per capita income has increased 26 times to RM20, 841 and the incidence of poverty has also been reduced to less than 6.0%. The Government's far-sighted and pro-business policies were instrumental in the transformation of the economy. This transformation enabled Malaysia to achieve a higher growth trajectory compared to the growth achievable as a primary commodity-based economy. Going forward, the Government has articulated the National Mission, which commits to continuing the structural transformation towards becoming a developed nation by 2020. Towards this goal, economic management in 2007 is focused on enhancing domestic resilience to facilitate growth and development as envisaged in the National Mission. In this context, initiatives were taken to encourage the private sector to assume a leading role in economic development. Efforts were taken to liberalize the Foreign Investment Committee (FIC) guidelines, reduce corporate tax to 26% in 2008 and attract investment through special incentives, particularly in the Iskandar Development Region (IDR).

In this report we tried to focus on how to establish a business and what are the conditions and the requirements, opportunity or problems that face the new investors. Also the government agencies that give the approval the registration sequences and the fees of the registrations and so on. This report will also talk in brief about other legal entities related to business in Malaysia and the ASEAN region. Entities such as Federation of Malaysian Manufacturers, Malaysian International Chamber of Commerce and Industries, and the Ministry of Finance, Treasury and Registration are introduced. At last the report speaks about work permit and Malaysia My Second Home program as the residential options for foreigners to stay in Malaysia. In the...
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