It is hard to say with certainty how much precisely it would cost for you to start your business in Malaysia. That is because every business is different, with its own unique needs and requirements. No two businesses will be the same, and for that reason, the overall cost involved would differ from one business to the next.
It would also depend on the sector of industry you intend to venture into. An entrepreneur looking to start a franchise business for example, would have a very different cost estimate from someone who is venturing into the manufacturing business. It would also depend on your business entity. A sole proprietor for example, is not going to have the same costs involved as an entrepreneur starting a Sdn Bhd company.
Factors Which Affect Your Business Finances
Financing your business in Malaysia will be affected by several factors. Again, these factors would be unique to the business and industry they intend to go into. However, there are some expenses which commonly affect most businesses. These common factors include:
- The cost of your company registration fee required for the incorporation process (including authorised capital).
- The cost of permits and licenses required depending on your industry.
- The cost of renting a premise.
- The cost of advertising
- The cost of marketing
- The cost of building a website
- The cost of your business insurance (it is highly recommended that you get your business insured)
- The cost of supplies and equipment
- The cost of taxes (how much tax would depend on what your business earns annually)
- Any costs incurred by due diligence
- The initial deposit required to open a business bank account (costs will vary depending on the bank).
- Other miscellaneous costs (including internet, utilities, refurbishment etc).
Variable costs Factors include:
- The cost of your work visa (if applicable)
- If you are involved in a franchise business, the cost will include the franchise, training and agreement fees.
- Employee cost factors (unless you’re running a sole proprietorship)
- Research expenses
- Technology expenses
- The cost of professional services consultants (for foreigner entrepreneurs who cannot incorporate a business in Malaysia without one
- Shipping costs (if your business is involved in shipping products)
The Cost of Renting a Premise in Malaysia
Among the biggest costs you will have to contend with is the price of rental. Kuala Lumpur is the capital city of Malaysia and a prime business hub. Which also means rental can be on the high side, depending on the location of your premise. Starting and running a business alone is a costly affair. Therefore, affordable rental is at the forefront of every entrepreneur who intends to set up shop here.
What Paul Hype Page Can Do for You
The cost of setting up a company in Malaysia would vary, depending on the needs of the investor in question. For a detailed cost estimate, email us at Paul Hype Page for a detailed discussion regarding your requirements and business needs. We evaluate each case in great detail to create a perfect profile of what your needs are. This ensures a smoother incorporation process and provides the quickest way possible for you to begin your new venture in Malaysia.
Paul Hype Page & Co – SSM service provider and Asean Chartered Accountant.
Paul Hype Page & Co. have 3 physical offices in Singapore, Malaysia and Indonesia
Our Firm Goal is to assist Foreigner and Foreign Companies to set up business in Asean.
How we can help you:
Step 1- Listen to your Business plan and Relocation needs.
Step 2- Analysis your Malaysia Tax Planning
Step 3- Recommend the most suited type of Company Incorporation, Open Bank account and Work Visa
Step 4- Arrange for your Spouse and Children Visa
Step 5- Assist as your company to hire staffs and handle all HR matters
Step 6- Every financial year end, we assist you with your yearly SSM Finanical and Tax Compliance
Step 7- Assist you to expand business to Malaysia, Indonesia, Vietnam and Thailand.
Get in Touch with Us Today.
Paul Hype Page