MALAYSIA BIZBLOG
Office: +60384081680 | Advisory: +60108242527 (whatsapp)
The construction or real estate development sector in Malaysia is playing a very important role in the economic growth in terms of generating vast revenue. Mega infrastructure development projects in Malaysia, growing this industry more profitable. The construction sector includes residential construction, non-residential construction, civil engineering and mega govt allowed projects. Malaysia govt welcoming legal investments with a positive Foreign Direct investment, business & tax policy. Construction in Malaysia averaged 12208.37 MYR Million from 2010 until 2020.
Same as other businesses, you will need a construction company to do construction business in Malaysia. Company registration, banking, basic papers all might be the same but to do construction business there are some specific licenses you will need. As usual under company act 2016 you will need to SDN BHD company registration, After getting company registration, you have to bank account & get CIDB (Construction Industry Development Board) license. Construction Industry Development Board (CIDB) CIDBis a compulsory requirement for all types of companies operating in the Malaysian construction sector. Effective from 20 July 1995, all local or foreign contractors must register with the Construction Industry Development Board under Section 25 of Act 520 (Amendment 2011) before undertaking and completing any construction work in Malaysia unless they granted an exemption under Section 40 (1) of the Construction Industry Development Board of Malaysia Act 1994 (Act 520). This license is renewable and available for a period of a minimum of one year to three years. Applicant companies will need to pay a certain tax when applying for the construction license according to the grades of CIDB variation. Depending on CIDB grade construction companies can do the full project, development, or sub-construction contracts. With CIDB license what construction services a construction company can provide:
CIDB APPLICATION To obtain CIDB license companies must have paid capital (as per category requirement), 1 civil & 1 mechanical engineer (diploma engineer also work) from Malaysia, share distributions if have foreign shareholders in the company, an office address, a registered company secretary office address, etc. OUR CIDB APPLICATION SERVICES In this process we help our clients to complete the application process with company documents preparation, CTC, paid up capital documentation, recruit local engineers, legal business advisory according updated authority law. After CIDB there are few more licenses or papers companies must have to operate construction business in Malaysia, such as; Bumiputera Status Certificate to participate in government projects, etc. Construction companies are always labour related so we also advise interested investors to be aware of & follow MALAYSIAN EMPLOYMENT ACT 1955. 
Why Lim & Ani Associates Sdn Bhd
We are providing one of the best business & company setup consultancy services in Malaysia, with experienced & licensed company secretaries, professional accountants, auditors, tax & SST experts, expert business advisors and we are offering a one-stop business service in Malaysia. As one of the best leading corporate advisors, we make sure that your company registration, investment, business management in Malaysia runs smoothly & tensions free, while meeting all the existing compliance laws and regulations. Our advisory line to discuss more about starting a business & company in Malaysia Call: +60108242527 (whatsapp available also) Call, Email, or text us & take an appointment from the website to visit our office in Malaysia. LIM & ANI ASSOCIATES SDN BHD Call: +60108242527 (imo, whatsap & Viber) Call: +601121189303 Call: +603-84081680 (office landline) Email: advisory@mbbusinessjoint.com www.mbbusinessjoint.com
0 Comments
AGRICULTURE AND FISHERIES BUSINESS SETUP IN MALAYSIA WITH COMPANY
The agriculture and fisheries industry alone contributed 8.2 per cent of Malaysia’s GDP in the year 2017. The food base agriculture industry includes commodities such as rice, fruits, vegetables, fisheries and livestock. the main institution which handles the development of the field is the Ministry of Agriculture and Agro-Based Industry (MOA).
In order to start a business in Malaysia, investors need to open a company in Malaysia, In most of the cases which should be a SDN. BHD. comapny. Foreigners are allowed to set up a company with 100% foreign capital, which is usually registered as a limited company (SDN. BHD.). However, it is important to know that all the companies registered here require at least two directors, at least one of them must be residents of Malaysia. At the same time, it is compulsory to have a business address registered in Malaysia, as well as a corporate bank account. Our team of associate business specialists, company secretaries & legal business advisors in Malaysia can assist investors with company registration & business setup including agriculture or fisheries land lease & licenses. Malaysia has a network of farmers’ organizations that come under the administrative jurisdiction of the Farmers’ Organization Authority, a statutory body under the supervision of the Department of Agriculture. Under the Farmers’ Organization Act 1973, any person engaged in agricultural or livestock production is eligible to be a member of, and to form, a farmers’ organization registered under the Act. Land acquisition Identify and summarize the legislation addressing agricultural property transactions in your jurisdiction. Outline how farmland is typically held. Pursuant to the Federal Constitution of Malaysia (the Constitution), land matters generally lie within the jurisdiction of the various state governments:
Labor & worker policy for agriculture sector There are no specific rules or laws governing the rights of workers for agricultural operations. As is the case with workers from other industries, the rights of workers for agricultural operations are primarily covered under the:
Foreign workers for agriculture sector in Malaysia Non-citizens working in Malaysia must obtain the applicable work permits, depending on the types of work carried out. Under Malaysian immigration laws, foreign workers are only permitted to work in the following sectors:
Law regarding export-import agriculture goods The Customs (Prohibition of Imports) Order 2017 and the Customs (Prohibition of Exports) Order 2017 issued pursuant to the Customs Act 1967 list goods that are either absolutely prohibited, or which may be imported or exported subject to the importer or exporter obtaining the relevant import or export license from the specified authority. 
Why Lim & Ani Associates Sdn Bhd
We are providing one of the best business & company setup consultancy services in Malaysia, with experienced & licensed company secretaries, professional accountants, auditors, tax & SST experts, expert business advisors and we are offering a one-stop business service in Malaysia. As one of the best leading corporate advisors, we make sure that your company registration, investment, business management in Malaysia runs smoothly & tensions free, while meeting all the existing compliance laws and regulations. Our advisory line to discuss more about starting a business & company in Malaysia Call: +60108242527 (whatsapp available also) Call, Email, or text us & take an appointment from the website to visit our office in Malaysia. LIM & ANI ASSOCIATES SDN BHD Call: +60108242527 (imo, whatsap & Viber) Call: +601121189303 Call: +603-84081680 (office landline) Email: advisory@mbbusinessjoint.com www.mbbusinessjoint.com 
A joint venture is a strategic business arrangement or collaboration between two or more parties, where these parties agree to share their expertise, experience, and resources to accomplish a common business activity, goal, or project. In Malaysia, the company to enter a Joint Venture should be SDN. BHD. (Pvt. Ltd) & should have a paid-up capital of at least RM 350,000 to RM 500,000. But if foreign parties involved for licenses and other processes we suggest our clients to do company with a minimum authorized capital of RM 1 million. Joint ventures in Malaysia can also be set up as partnerships between locals & foreigners, in which the purpose will also be a common business goal.
In a simple word we can tell, if you don't have enough capital or money to start a medium or big scale business, don't have jurisdiction to run a business alone in a foreign land, don't have enough management support or time for management, you can join with other businessmen, investor, companies or local partners to gather enough money, capital, management aid, legal business aid, legal policy support to start the business. Famous electric device brand SONY ERICSSON is one of the best example for the Joint Venture business. Types of Joint Ventures 1. Incorporated Joint Venture 2. Unincorporated Joint Venture The Joint Venture Agreement A joint venture agreement is a definitive agreement that establishes the joint venture between the parties to the intended joint venture. A joint venture agreement should outline the contributions, expectations, obligations, rights, and duties and responsibilities of all relevant parties to the intended joint venture. Factors to Consider Before Entering a Joint Venture There are many factors for parties to consider before entering a joint venture. Usually business advisors like - Lim & Ani Associates do ensure this sort of issues & risk factors as legal business advisors in Malaysia:
Parties should consider appointing a legal professional to conduct preliminary due diligence on parties to an intended joint venture to avoid the possibility of future setbacks. This essentially minimizes future risks and promotes transparency between all parties to the joint venture, which services are also a specialty for us - Lim & Ani Associates Sdn Bhd Malaysia. Our advisory line to discuss more +60108242527 (whatsapp available also) Joint Venture in Malaysian Markets A common use of JV is to partner up with an individual or group of local or foreign businessmen to enter a foreign market. Businessmen who want to invest & start a business in new countries can usefully enter into a JV agreement to make secure, stable investment & get local management facilities, business security with local businessmen or companies. If you don't have enough experience in business, then having experienced partners can boost up your business & profit more. Where in a business ranked country like Malaysia it has a better opportunity if done by legal & experienced experts. In the last few years we have successfully launched, consulted & did the setup for many Joint Venture businesses for our clients, which are very profitable such as; stores, automobile (car wash/car rental), factories, agro firming, restaurants & export-import trading. We are experienced enough practically to register & se-tup a better Joint Venture business for you in Malaysia with local businessmen & entrepreneurs to make it safe, secure, bigger & better. We are solving all issues of Joint Venture in Malaysia, such as finding trustworthy partners, incorporate companies to make JV, finding suitable business, legal JV agreement, fund management, lawyer services, risk management, insurance services, share distribution, banking, audit & taxation, etc. We are providing premium services by implementing FDI (Foreign Direct Investment) process & facilities in Joint Venture to make business & investment in Malaysia more easy & profitable. Usually it's possible to start Joint Venture in small business also, you can start JV by normal or equity shares of minimum RM 50,000 to RM 100,000 to above. Where ROI & profit can be shared 50/50 or as per share portion. We are also giving JV partnership supports to the foreign clients, being their working local management partners to ensure secure business in Malaysia for our clients. As No. 1 business & investment friendly country in the world 2019 (CEOworld magazine) Malaysia is the best option to start your Joint Venture in planned & secure investment. Our advisors are always here in Malaysia to support, consult & plan for you. Free consulting line: +60108242527 (whatsapp avaialble also) CLICK HERE TO KNOW ABOUT PROFITABLE BUSINESS IDEAS IN MALAYSIA To know more, counseling & planing with advisors, agreement discussion, etc, contact us any time & visit our office in Malaysia. LIM & ANI ASSOCIATES SDN BHD Call: +60108242527 (imo, whatsap & viber) Call: +601121189303 Call: +603-84081680 (office landline) Email: advisory@mbbusinessjoint.com www.mbbusinessjoint.com |
Author
© Lim & Ani Associates Archives
March 2022
Categories
All
|
RSS Feed
