Malaysia Business Licenses
Types of Licenses Offered
Malaysian government offers business licenses to foreigners, based on the nature of the business to be incorporated in the country.. The following chart might help:
|Banking||Central Bank License for Banking, Financing and Leasing|
|Construction||Construction Industrial Development Board and Engineering License|
|Direct Selling||Direct Selling License|
|Distributive Imports & Exports||Wholesale Retail Trade (WRT) License for Trading, Import & Export, Consultancy and Restaurant Business Management|
|Education||Licenses for establishing Schools, Colleges, Universities, Tuition Centers and Language Centers|
|Hotel||For Budget Hotel License and Luxury Hotels|
|ICT||Multi-Super Corridor (MSC) License|
|Media||Publication License for Magazines and Books. Broadcasting License for Music, Singing, TV and Radio|
|Tourism||Inbound, Outbound, Ticketing License|
|Transport||Car Rental and Vehicle Leasing License.|
Other Types of Licenses
Approval of licenses for business incorporation in Malaysia is subjective in nature. It is contingent on the degree of participation of Malaysian residents and nationals in the company at the Directorship, Shareholder or other paid-up capital contributors’ level.
One of the most common trade licenses required by foreigners in Malaysia is the Wholesale, Retail Trade (WRT) License. The license applies to non-resident companies with 100% foreign ownership seeking permission to engage in retail, restaurant, trading, franchise, import, and exporting and consultancy activities.
Other types of business licenses in Malaysia include those issued by the Malaysian Local Town Councils, e.g. the MPAJ, the DKBL and the Fire Brigade Departments. For foreigners looking to set up retail stores and restaurants in Malaysia, such local council licenses are required.
Wholesale Retail Trade (WRT) business license in Malaysia
There are four types of WRT licenses, renewable every 2 years. The categories eligible to apply for the following businesses to operate in Malaysia include:
1. Retail, Trading (Import and Export), Distributive Trades
3. Franchise Business
4. Services and Consultancy
The WRT license approval is required by all the above-mentioned sectors by foreigners before they can apply for their work visa (DP10) for any expatriates (directors or shareholders or employees) in the Immigration Department. The minimum company paid up capital requirement for all categories of WRT license application is RM1 million, with company full set-up with valid tenancy agreement and phone line. For newly set-up company, you maybe able to submit with business plan and investment plan in Malaysia prior setting the office.
To learn more about Malaysia Business License or which license is best suited for your business, the process to apply, and timeline for it, feel free to contact us!