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Construction business registration in Malaysia
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.
Same as other business, you will need a construction company to do construction business in Malaysia. Company registration, banking, basic papers all might be same but to do construction business there are some special licenses you will need.
As usual under company act 2016 you will need to register a company under SSM, with a professional company secretary, which services we, Lim & Ani Associates are providing for our clients. After getting SSM papers or company registration, you have to get CIDB (Construction Industry Development Board) license.
Now what is CIDB, it's a compulsory requirement for all types of companies operating in this construction sector is that all investors will require a license issued by the Construction Industry Development Board (CIDB). This license is renewable and available for a period of minimum one year to three years. Applicant company will need to pay certain tax when applying for the construction license according to the grades of CIDB variation. Depending on CIDB grade construction companies can do full project, development or sub construction contracts. With CIDB license what construction services a construction company can provide:
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.
As a country with vast land property & space to develop Malaysia is a best place to invest in construction sector.
Call, Email or text us & take appointment from website to visit our office in Malaysia.
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