If you’re setting up a food truck business in Malaysia, here are the top things you need to consider:
1. Type of structure for your business entity.
- Our recommendation is a private limited company (Sdn. Bhd.). We explain this here What are the 5 Types of Business Entity in Malaysia?
2. Opening your corporate bank account
3. Obtaining the right business licenses
- You will need licenses from the local town council and specific food truck license. Read more about it here Malaysia Business Licenses.
4. Work visa requirements
- If foreign directors are not living and working in Malaysia, there is no need for a work visa. They can occasionally visit on a tourist visa for short stays.
5. Other post incorporation requirements
- Getting your tax registration done with LHDN, the tax revenue department in Malaysia.
- Completing all employee registrations with SOCSO for social security profiles, and EPF for Employee Pension Funds.
- Annual compliance and audit requirements at the end of your financial year.
- All these incorporation requirements are detailed here Setting Up a Sdn Bhd Company in Malaysia.
It is highly recommended to speak to our advisors for your decision making.
WhatsApp us at +65 8483 3084.