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Business requirments


Posts: 1
 Ahamad
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Topic starter
Joined: 4 months ago

Hi,

What is the procedure of starting a food truck business in Malaysia, the owners will include Malaysians and foreigners.

The foreign owners will not physically run the business, but will occasionally visit the country to look at it so what would be their visa requirements.

Thanks in advance.

 

 

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1 Reply
Posts: 95
Moderator
Member
Joined: 10 months ago

Hi Ahamad,

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.

Cheers,
Paul

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