Top 9 small scale online business in Sri Lanka


Top 9 small scale online business in Sri Lanka: Firstly, we have to ask ourselves whether we are prepared to spend time working on the online business and we should be prepared to have a proper mindset that we can’t overnight make millions as profit, and mainly we have to be prepared to spend money to set up our own online business.

Top 9 small scale online business in Sri Lanka

Top 9 small scale online business in Sri Lanka

The other thing is we have to decide what sort of business we are going to do online, and which has more interest and demand on because if you choose the wrong type of business people will give up in a few weeks and sometimes a within a weeks’ time.

After all, these are done then you have to research yourself which products or business line is in demand, in the online industry.

After that you should open a domain name which suits, your business, mainly don’t allow anyone to buy you domains free of charge for because that causes you unnecessary traps.

After finding the exact domains and u should find yourself a good hosting site for your online business, which will keep u happy.

While doing the hosting of the web you should clarify everything before you get your web page done, mainly we need to see if we can speak with the people who host the webpage have done a proper job and must make sure it’s not via email or other communications.

These are top 9 small scale online business in Sri Lanka which is a very big demand:

 

  • Information Technology

Since a lot of individuals and businesses and professionals which makes life very easier with IT technology.

The demand is very high and booming in Sri Lanka. These are such as database management, data, and information security. If you have a solid background on IT technology.

  • Tourism

Tourism is very high in demanding online business with mainly doing rent a car and airport drops and pickups are very high in demand in tourism and online business.

The tourists every year are high in demand because people travel from various countries. There main focus to visit down south since a very highly demanding area for tourism, and this is because of the islands and the wonderful beaches found here in Silence, and the other place is the heritage sites like a hill in our country.

  • Food items

The demand for food items which are imported from neighboring countries is highly having a demand for online business which gives greater profits.

These food items are mainly necessitated in the importation of foodstuff from neighboring countries.

There are high and big opportunities for imported food items from neighboring countries, which we sell here in Sri Lanka with a good profit.

These kinds of business by online is very easy to start with a small capital and even a beginner can start this.

  • Pharmaceuticals

There is a big demand for health awareness among Sri Lanka with a booming demand for medications and other pharmaceutical products.

In recent years, the pharmaceutical industry has grown tremendously.

In this trade personally I don’t have experience, but if you have enough capital to start or set up a pharmaceutical company, you can make a lot of profits in the long term, when your capital is very high, but if your capital is low you can start small as a wholesale or retail seller to all the other countries.

  • Textiles & Fabrics

Textiles and fabrics & readymade imported into Sri Lanka and has a huge demand for these products from countries, like India & sell them in the local market.

  • Agriculture

Agriculture is the most important sectors you can do as whole sellers in online business.

Our country produces and exports products like rubber, tea, coconuts, and tobacco.

People having a keen interest in agriculture can start cultivating tea, rubber, coconuts, and tobacco.

In this business, there is no fixed profit since you can make a business from your country and overseas.

  • Real Estate

Real estate is a huge business which is very high in demand in all countries and mainly you get a high profit in real estate business in Sri Lanka, here we can start a real estate business which offers land & housing property for lease, and for sale to individuals and business.

  • Petroleum

We can set up a refinery in Sri Lanka and these too give a good capital with a higher profit where any individual can afford to invest on. Mainly this is a good investment for people who are in the corporate field.

As an individual, you can still tap the juice in the petroleum industry, by selling petroleum products to consumers.

  • Construction Services

This is a highly demanded services here in Sri Lanka for architect’s, structural engineer’s electrical engineers and other professionals.

In this trade, you can make a huge profit and you get benefits too.

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Business premise license Malaysia


Business premise license Malaysia

Business premise license Malaysia

Sign Board license in Malaysia; Every business needs a signboard for marketing and publicity and having a signboard for your business in Malaysia is very easy. However, a valid signboard license is required for avoiding unwanted trouble with the local authorities. If someone runs their business without proper signboard license then local city hall officers may visit the business, disturb the operation flow and at an end, this will impact the bad feeling on the customers. Additionally, the city hall officer might summon a bill as well. So this is important to have a proper license before adding signboard to the business.
The first step of doing business in Malaysia is to have premises to run the business and then get the business license for those specific premises. Finally, get the license of signboard for the business. The paperwork required to submit for obtaining signboard license varies state to stat. In general, the business owner should inform the local city hall officer about the future construction and installation plan for the business. For example in Kuala Lumpur, the business owner should submit their design and artwork of the signboard to Dewan Bahasa Dan Pustaka for the verification and approval purpose and also get additional approval for using Bahasa Melayu texts on the signboard. Once the design and artwork are approved then business owner should visit the local city hall office that is Dewan Bandaraya Kuala Lumpur in Kuala Lumpur and obtain signboard license (in Malay ‘lessen Papan iklan’).
As mentioned above, the paperwork required for obtaining a signboard license is varied according to each local authority. In below, a list of general paperwork required for the signboard license application is provided.

  • The photocopy of the applicant’s identity card should be provided.
  • The passport size photograph of the main applicant is required
  • A copy of companies’ memorandum and articles of associations also the form no 9, 24 and 49 should fill up and enclosed with the application.
  • For the company’s business premises, the copy of the rental agreement or the sale and purchase agreement is required.
  • A copy of a certificate of fitness for the company’s business premises is also required.
  • A copy of the fire department’s supporting letter.
  • A copy of the location plan for the company’s business premises.
  • Photographs of the company’s business premises should be enclosed.
  • The photograph showing the location of the company’s signboards
  • The sample artwork of signboard that showing the design and color of the signboard.

Business premise license Malaysia; More information on these can be found online. For the companies located in Kuala Lumpur, the information available website at http://www.dbkl.gov.my and the companies located in Petaling Jaya, the information available website at http://www.mbpj.gov.my
There are some general laws and regulation applies to the signboard license procedure. Among them, the advertiser must be displayed in Bahasa Malaysia language either by itself or by accompanied with another language. Although the Bahasa Malaysia language must be given in priority and with the brighter color and font sizes color from other languages used. For the signboard, reference must be made with Dewan Bahasa and Pustaka for the correct Malay language working. Visual advertise display of some product is prohibited such as alcohol, cigarettes, revealing pictures. Additionally, the logo of DBKL cannot be used in the signboard except with the written consent with the DBKL.
Signboard installation is subject to the provision by laws and order of 1982 and its amendments. Forgetting the license, the fees must be paid within fourteen days from
the date of approval and the license reference number must be shown clearly at the bottom left side of the signage. Additionally, the registered company name must be shown on the bottom right side of the signage. The position of the signboard is done on an approved location and visual. During the peiord of approval, any changes in company name, size of advertisement, the visual, the address of the premises must be approved by the licensing department.
The business owners may go for more than one signboard for having multiple signboard systems. Many business places got more than one signboard, such as one big main signboard and also smaller double-sided signboard. So for multiple signboard systems, the business owner should inform the city hall officer about the second signboard and pay additional fees during the application. In this way, with the single application, the business owner gets the license for multiple signboards and thus saves time. After the application, the business owner gets to know that if he is allowed to install multiple signboards at his premises. Forgetting permission, the size and position of the signboard also come into consideration. Usually, the officer visits the business premises and advice the business owner about the position of the signboard. While the application gets approved, the city hall office tells the business owner about the due amount to be paid for the signboard with an official receipt.

FOREIGN WORKERS RECRUITMENT POLICY OF MALAYSIA


FOREIGN WORKERS RECRUITMENT POLICY OF MALAYSIA

FOREIGN WORKERS RECRUITMENT POLICY OF MALAYSIA

This article is based on the regulations amended over Foreign Workers permitted and recruited in various companies and agencies of Malaysia. Business owners and sole investors in Malaysia can collect all sort of information needed regarding Foreign Workers Recruitment Policy based in Malaysia.

# THE FOREIGN WORKERS RECRUITMENT POLICY IS COMPOSED OF THE FOLLOWING:

  1. Employment priorities is first given to the locals of Malaysia. The employers are asked to notify JTK the Department of Labor of Malaysia and KSM the Human Resource Department of Malaysia about each and every individual job vacancy conducted. The main purpose of these acknowledgment is done so that the vacancy circulars are advertised and filled up by locals who are registered with Jobs Malaysia and other related sites.
  2. Currently the employers are allowed to hire foreign workers in only 7 sectors; Among these 7 sectors 6 formal sectors covers up the construction, plantation, services, manufacturing, agriculture and mining, while the 1 informal sector is the foreign maids.
  3. In recent date workers are allowed to be recruited or sourced from 15 different countries to Malaysia, they are — Indonesia, Nepal, Myanmar, India, Vietnam, Philippines (Only Male), Pakistan, Bangladesh, Thailand, Cambodia, Sri Lanka, Laos, Turkmenistan, Uzbekistan, Kazakhstan.
  4. Certain age restriction of workers and labors brought in Malaysia is strictly maintained — Age between 18 – 45 years can only be allowed to be recruited upon application.
  5. Hiring tenure allowed for the 6 formal sectors are 5 + 5 years, whereas there is no maximum period of tenure maintained for the 1 informal sector for foreign maids.
  6. Approvals, permits and other consideration made for recruitment applications is based on the terms and conditions set by the Regulatory Agencies of Malaysia. Even though locals are always considered as the first priority yet hiring of foreign workers comes in priority based on the industry needs.

Guidelines for Determining the Minimum Standards needed for Foreign Workers Accommodation are as follows:
– As per Employment Law 1955 –

  1. National Wages Consultative Council Act
  2. Minimum Wages Order 2016

Workers Minimum Standards of Housing and Amenities Act (Act 446)

  1. Guidelines in Determining Minimum Standards for Foreign Workers Accommodation


#Let us now look into the ALLOWED SOURCE COUNTRIES along with the restrictions policies conducted over the workers or labors recruited:

Well, it is clearly stated by the Ministry of Labor based in Malaysia that foreign workers from the following countries are just allowed to work in these specific formal sectors: Manufacturing, Plantation, Agricultural Sectors, Personal Services, Construction, Mining & Quarrying.

  • Thailand
  • Cambodia
  • Myanmar
  • Laos
  • Vietnam
  • Kazakhstan
  • Nepal
  • Pakistan
  • Sri Lanka
  • Turkmenistan
  • Uzbekistan
  • Bangladesh

In case of Philippines, only the male workers or labors are allowed to be recruited to work in the six (6) formal sectors. Indian, workers or labors are permitted to be recruited in sectors related to Services (restaurants only), Construction, Agriculture and Plantation. For Indonesia, only the male workers can work in all the sectors except manufacturing, whereas female workers are allowed to be recruited and work in all sectors.

#Let us now look into the SERVICES INFORMATION and THE 7 SECTORS (Formal and Informal)

This section resolves the SIX FORMAL SECTORS allowed for applications of foreign workers recruitment policies:

  • Manufacturing
  • Construction
  • Agriculture
  • Plantation
  • Mining and Quarrying

Services:

  • Restaurant (cooks only)
  • Cleaning Sector
  • Spa
  • Reflexology sub-sector
  • Hotel
  • Caddy (male only)
  • Cargo Handling
  • Welfare Centers

The One (1) informal sector is related to the Foreign Maids allowed and regulated under certain laws and agencies in Malaysia.

# PAYMENT RATES

SECTOR LEVY
Manufacturing RM 1,850
Construction RM 1,850
Plantation RM 640
Agriculture RM 640
Mining & Quarrying RM 1,850
Services RM 1,850

# ONE STOP CENTER Malaysia

All steps and procedures related to hire foreign workers in Malaysia is conducted by the One Stop Centre (OSC) at Bahagian Pengurusan Pekerja Asing and Kementerian Dalam Negeri. The sole statutory body based for labor recruitment in Malaysia was established and enforced since 1st of August of the year 2005. The work process followed by this ONE STOP CENTRE in Malaysia is simple and hassle-free — Complied with all related information and valid details the Applications are completed and submitted is processed on the same day. The recruitment process also involves an interview session that take place between employers and a panel of interviewers (Candidates) consisting of the following government agencies:

  1. Ministry of Home Affairs (MOHA), Secretariat Application Sectors.
  2. Department of Labour Peninsular Malaysia, Enforcement of Employment Act 1955 and Labour Act 1955 for all sectors.
  3. Ministry of International Trade and Industry (MITI), Manufacturing Application Sector
  4. Construction Industry Development Board (CIDB), Construction Application Sector
  5. Ministry of Plantation Industries and Commodities (MPIC), Plantation Application Sector
  6. Ministry of Agriculture (MOA), Agriculture Application Sector
  7. Ministry of Domestic Trade, Co-operatives and Consumerism (KPDNKK), Services Application Sector
  8. Ministry of Natural Resources and Environment (NRE), Mining and Quarrying Application Sector;
  9. Ministry of Tourism and Culture (MOTAC), Tourism Application Sub-Sector;
  10. Ministry of Transport Malaysia (MOT), Application related for Airport and Ports Sub-Sector;

The Foreign Workers Recruitment Policy ends up by the Employers who receives a Quota Approval Notification and are asked to make payment for the Levy to KDN within 30 days from the date of approval. Once the payment is made and is accepted the Employer will soon a receive Conditional Approval Letter. Employers who fail to make the Levy Payment within the designated time will have their quota approval rejected.

Setting Up a Company in Singapore


Setting Up a Company in Singapore

Setting Up a Company in Singapore

Local and foreign companies may open a business and set up a company in Singapore within a very short time. Foreign companies may use Singapore as their representative office when the company wishes to conduct market research or provide after sales service to the customers. For registering Representative office in Singapore the company should have a certification of incorporation in the English language. The processing fees for the registration process of RO is $200 and that is payable to IE.

The company Act of Singapore also allows companies to open a branch office in Singapore and head office is liable for the activities of the branch office. Any branch office must be registered with ACRA. During the registration process, the foreign companies have to provide the original copy of foreign company’s incorporation certificate, the latest audit report for the relevant year, a copy of company’s law and constitution guideline, identity documents of company’s passport holders and the details of the appointed authorized representative who generally resides in Singapore. The documents mentioned above need to be submitted in English and one-time registration fees of Singaporean $300 should be payable to ACRA.

The potential investors may be setting up a company in Singapore as Limited Liability Partnership (LLP) Company and this form of company is beneficial for tax purpose and also for the case when a partner is residing outside Singapore or the company engages in the foreign partnership. The time duration of an LLP company is unlimited and the company may change the partners and this does not make any effect on LLP Company. For registering LLP companies, one has to appoint at least one manager who is a neutral person and generally resides in Singapore and the obligation of the manager is to make sure that the company is running according to LLP guidelines. Any LLP company should be registered with ACRA and initially, a name check should be done by taking the intended names. LLO companies should have a registered office in Singapore and that should generally accessible to the public during normal office hours. The company has to provide the details of their directors and also pay Singaporean $150 to ACRA for the registration process.

For setting up a company in Singapore as the private limited company one should apply through ACRA as well. The potential company first go through the name check process for getting an intended name for the company and then the name should be reserved for the company till next sixty days from the date of application. The company has to provide all the documents that were required for the incorporation process. Additionally, a company has to provide the details of shareholders, directors, the company’s constitution, a company’s structure chart etc. All the documents must be in English language and if not then the documents should be translated. One can open the private limited company in Singapore with as small as one Singaporean dollar.

If the company is not titled as the dormant or small company then all PTE ltd companies should abide by the tax law. According to tax law in Singapore PTE Ltd companies should appoint an accredited auditor for conducting an annual audit of the company. The dormant type companies got no financial transaction in a relevant financial year and they are exempt from doing an audit. The same small applies for the small company and any company may be treated as a small company if they generate total annual revenue smaller than fifty million and their asset is less than fifty million and their number of employees is less than fifty personnel.

The regular tax rate for PTE Ltd Company is 17% of the net income generated by the company from the business activities inside Singapore. The country does not charge tax for the income that generates overseas. However, if the company generated revenue remitted into Singapore then tax implies on it. All companies that run the business in Singapore are exempted from 75% tax for their first 10,000 income and 50% tax for their next 290000 income.

For setting up a company in Singapore and to do work in Singapore foreign personnel requires the work permit and the required document for this purpose is known as employment pass. In order to receive employment pass one should make application to the authority by stating name, detail address and passport number, educational background of the applicant, intended job position in a company, salary etc. the time take to process the application is one to 2 weeks and if any cases the application gets rejected then the time for appealing is generally takes six to eight weeks. Application for employment pass only can be made when a representative office or Limited Liability partnership company or branch office or private limited company is created in Singapore. In general, the employment pass is issued only for one year and it has to renew yearly. If the employee got any spouse or dependants then they have to apply for dependent pass and holders of dependant pass may remain in Singapore.

Register a new company in Malaysia


As a potential investor, you should know that you have the options of registering basically three types of company in Malaysia. You can register a company limited by shares, or you can choose a company that is limited by guarantee and lastly a company defined as unlimited by law. Whichever type of company you intend to register, it will be authorized by the Companies Act 2016 in Malaysia.

Register a new company in Malaysia

Register a new company in Malaysia

Your company must contain the basic features as outlined by the Act. First and foremost, the company must have a name. It should be consisted of a single or multiple members. For a company limited by shares, it must have one or multiple number of shares. Lastly, company should feature one or more than one directors to operate lawfully in the country.

In Malaysia, you will find that there are two types of limited liability companies operating effectively. Firstly, you have a company limited by shares and secondly, a company limited by guarantee. The nominal value of the shares a person holds will define his or her personal liability in a company limited by shares. For a company limited by guarantee, the personal liability will not exceed the amount stipulated in the Memorandum and Articles of Association. The provisions of the Companies Act 1965 deal exclusively with the prerequisites for registering a company limited by shares in Malaysia. In a private limited liability company, the general public is not permitted to own the shares of the company.

When you intend to register a company limited by shares in Malaysia, you must remember that the business form must be up to the standards spelled out in the Companies Act 1965. Your company’s trading name must have the words “Sendirian Berhad” since you are applying for a private limited liability company.

The prerequisites of registering a company limited by shares state that: your company is obliged to have a minimum of two shareholders as specified in the Section 14 of the Companies Act. As per Section 122 of the Companies Act, you must appoint a minimum of two directors for your company. It is mandatory on your part to employ a company secretary and that person must be approved by the Companies Commission of Malaysia or SSM. A member of a professional body can also be your company secretary if only the body is approved by the Minister of Domestic Trade Cooperative and Consumerism.

The fundamental requirement for incorporating a private limited liability company under the Companies Act 2016 states that at least a single director and a promoter’s main place of residence must be in Malaysia and should generally live in the country.

The Incorporation process for a Sendirian Berhad (Sdn Bhd) commences with the application for name search. This application will establish whether the proposed name of your company is available or not. When you apply for your Sdn Bhd’s name, remember to refer to the Government Gazette No. 716 published on 30 January 1997. You will also need to go through the Gazette (Amendment) of 11 October 2001 as well as the Guidelines for Naming A Company for your purpose. Lastly, the Guidelines For Application Of A Company name will come in handy when you register your company’s name.

The Form 13A CA must be filled up properly and submitted to the Commission. For every name you choose to apply, you are required to a charge of RM 30 only. Once your proposed company’s name is accepted by the Commission, it will be held in reserve for three months from the date of acceptance.

For the next procedure, you are required to submit the Incorporation Documents at the SSM not later than three months from the date of acceptance of your company’s name by the Commission. In case you fail to do so, you will have to file for a fresh application according to the process mentioned above.

The incorporation information you are required to submit to the SSM must contain the points outlined below:

  1. i) The proposed company name
    ii) The status of a private company
    iii) The proposed type of business
    iv) The address of registered office
    v) The business address
    vi) Complete details of directors(s) and promoter(s)
    vii) Declaration from directors(s) and promoter(s)
    viii) Declaration of compliance from individuals responsible for incorporation
    ix) Additional Documents (if any)

The complete package of Incorporation Documents you have to provide the SSM includes the Memorandum and Article of Association, Form 48A which is a legal proclamation by a director or promoter prior to appointment and Form 6 which is a declaration of compliance signed by the company secretary. There are three additional documents to need to submit, one of which is a original duplicate of Form 13A, a photocopy of the letter given by SSM when your company name was approved and a copy of the identity card of every director of your Sdn Bhd as well as your company secretary’s.

When you apply for the incorporation of your Sdn Bhd, you must pay the registration fees according to the authorized share capital you intend to invest. The complete breakdown of the registration fees is given below:

Authorized share capital (RM) Fees (RM)
Up to 400,000 1,000
400,001 – 500,000 3,000
500,001 – 1 million 5,000
1,000,001 – 5 million 8,000
5,000,001 – 10 million 10,000
10,000,001 – 25 million 20,000
25,000,001 – 50 million 40,000
50,000,001 – 100 million 50,000
100,000,001 and above 70,000

Once you have completed the incorporation process properly and submitted the incorporation documents according to their requirements, the SSM will issue you a Certificate of Incorporation.

Upon the completion of the incorporation process, it is essential for you to open a business bank account and register with the appropriate authorities in Malaysia. It is obligatory for you to file for registration of your employee’s retirement fund, human resource developing and training as well as social security. You will need to set up your company’s Annual General Meeting (AGM) according to the type of company you have incorporated with the SSM. The annual return must be submitted not later than 30 days from the anniversary of the registration date of your company. For the purpose of filing tax returns, you will need to register your company with the Inland Revenue Board when your business is up and running.

In case you have to update your company’s information like a change of address or shares, you will need to follow the procedure stipulated by the SSM. For this purpose, you will be greatly aided by the range of services provided by MyCoID 2016. The updating of information can be carried out at the SSM headquarters in Kuala Lumpur, its state or branch offices around the country.

By definition, the main liability of the members of a company limited by guarantee (CLBG) is restricted by the constitution to the amount members agree to provide for the assets in case the company faces termination. As a public company, a CLBG needs a license from the Ministry of Domestic Trade, Cooperatives and Consumerism to own land or property in Malaysia. You can register a company limited by guarantee with or without the word “Berhad” or “Bhd” according to the Companies Act 2016 (CA 2016).

In order to register a new company in Malaysia that’s limited by guarantee, you need to file an application with a constitution to the office of the Registrar under section 45 of the Companies Act 2016. The purpose of establishing a CLBG is clearly defined by the Act. As a result, the objective of your CLBG will be to promote science, or art, or religion, charity, commerce or industry, pension programs or any activity beneficial for the country in the context of health, education, environment, research, sports or society as a whole. The CLBG can also offer amusement or recreation and for clarification, the objectives mentioned above cannot be accomplished by any other type of company.

You can become a director or founder of a CLBG if you are deemed fit and appropriate by the Registrar and must be considered eligible under the Companies Act 2016. The Registrar holds the exclusive authority to judge whether your experience and aptitude are appropriate for the role you intend to fulfill. The Registrar would take in account your reputation in the society as well as your character. Finally, you will need to pass the security test conducted by the Register as well as the safety filter carried out by the Royal Malaysian Police or other organizations to be a founder or director of a CLBG. The Registrar will approve your application as a director only after it is satisfied that you are fit and suitable for the post and possess the necessary credentials.

The constitution of a company limited by guarantee must contain the points outlined below:

(a) The name of the company

(b) The purpose of the company

(c) The amount members agree to provide for the assets in case the company faces termination

(d) The full names, addresses and professions of the subscribers

(e) A statement that confirms that the subscribers are willing to establish a company to uphold the constitution

The constitution must be presented at the office of the Registrar to complete the process of registration. A CLBG also has the option to accept a model constitution arranged by the Registrar. The Registrar must give its approval before you can change any clause of the constitution.

You may be asked by the Registrar to provide segmental reporting in addition to the financial statements of your CLBG. Under the law, none of the directors or members of a CLBG are allowed to utilize the company’s finances for any illegal or political activities in Malaysia. The basic requirements state that you cannot set up new directors or pay remuneration or fixed allowances to the directors without securing prior approval of the Registrar. You are obliged to make use of the profits for the objectives in setting up the company. You are not permitted to ask for any type of donation from the public and collect money from them. You must act in accordance with the provision stated in the constitution constantly under all circumstances.

If a CLBG intends to remove the word “Berhad” or “Bhd” from its business name, an application must be sent to the Minister to attain a license for this purpose. The word “Berhad” or “Bhd” must be removed if the CLBG wants to have the words “Yayasan” or “Foundation” in its name. It is the Minister’s discretion to enforce any terms and conditions necessary while the application is approved. The license will be cancelled if the CLBG violates the terms and conditions imposed by the Minister.

Business times Malaysia


In today’s date “Malaysia Business” has been considered as a vital topic to look into for many business owners around the world. Due to the variety of business opportunities and their immense positive outcomes, Malaysia Business has eventually dragged in interest of many business investors to invest in Malaysia both large and small scale within the country. The country and its government are trying their best to make their business sectors more lucrative, profitable, reliable and easy to begin for these foreign investors who come up with a vision of doing business in Malaysia.

<img src="image/business-times-malaysia.png" alt="Business times Malaysia"/>

Business times Malaysia

Malaysia, a country with opportunities and promises for those who can dream. The country is considered to be one of the prime developing countries among all other Asian countries in the globe. The country has developed itself in every possible sector it can. The economic growth of the country in past few decades is considered to be highly appreciated and is kept constant for a longer period of time. The variety of business opportunities plus the high growth of foreign man power along with their investments in both small and large scale is eventually enhancing the economic scale of the country.
Gas, It, Oil, Construction and few others are said to be the prime sectors for investments in Malaysia Business. Although there are many other business sectors related to garments, education centers, restaurants, hotels, jewelries, shopping malls, personal business, hardware sectors etc where the foreign investors can invest in to make good profit. Restaurants, Food Courts and Hotel business are given high priority when it comes up to Malaysia Business due to the large number of tourists visit the country every year from all over the world.

Well it is not always easy to start of up a new business for any one in any foreign location. One should have a clear vision about their business plan, the country in which they intend to do business in and the investment scales must be taken in high consideration. For business investors all over the world Malaysia or Malaysia Business is said to be the most perfect choice of all because of three major facts. They are DEVELOPED INFRASTRUCTURE, REASONABLE COSTING & HUGE MARKET POTENTIALS. The business investors are always suggested to gain as much as knowledge they can over the country and its different business sectors in which they plan to do business in. Valid and vivid knowledge about Malaysia and Malaysia Business will surly lead these foreign investors to success, as they come investing a good sum of fortune within the country to live up to their desired dream. Often wrong steps regarding company registration, business plans, licensing issues, less investigation of the market and customers lead these foreign investors and their family future to a dreadful situation.
This article will outlet few steps and conditions that must be taken in account by the foreign investors with a dream of starting a business in Malaysia.

What is Certificate of Incorporation?


What is Certificate of Incorporation

What is Certificate of Incorporation

An investor might arise questions or have queries to know what a certificate of incorporation really is. Well an incorporation certificate is a document or authorized paperwork that is issued to a registered company or business and other entities associated with The Companies Office. To begin with any business at any destination around the globe it is a must that the investors first achieve a legal permit through the certificate of incorporation to run their business with all smoothness and comfort. This certificate of incorporation (incorporation certificate) assure that the business has been incorporated as a separate legal entity with its own identity under the Companies Act 2006. See here how to register a company or business in foreign place.

# Key facts and issues related to a Certificate of Incorporation:

1. When and from where do investors get their certificate of incorporation?
When the authorized application provided by the business entities or companies get approved by authorized figures, the Companies House will issue a certificate of incorporation for that respected business company. If an investor or company head register his or her company through online by the means of company formation agent, it is stated that he or she will receive their certificate of incorporation electronically in digital (PDF) format by the means of an email. Well they can only get the certificate as soon as their registration is approved. This entire process mainly gets completed within 3 working hours of submission. If the registration process is done by a postal application, then the certificate will arrive by the post within a few days or more after Companies House gives approval for the submitted application. Well in case of Postal applications it takes around 8 – 10 days, so it can be stated that it is more beneficial to register online.

2. Information that a certificate of incorporation reveals?

Well the certificate of incorporation will show these following details:

  • Registered company name.
  • Company registration number or (CRN).
  • Where or at which state the company is registered.
  • Date of incorporation.
  • Company Structure (share limits or limited by guarantee).
  • Issuing Registrar (Cardiff, Edinburgh or Belfast).
  • The Companies Act under which the company is registered (Companies Act 2006).
  • Official and authorized seal of the Registrar of Companies (Companies House).
  • Royal Coat of Arms.

3. What can be done when the certificate of incorporation goes lost or missing – How to get a replacement?

If the company is said to be incorporated through online by Companies House Web Incorporation Service, well one should receive a digital copy of the certificate of incorporation attached to the email received when their registration was approved – this authorized copy of the certificate can be downloaded and printed at any time.
One can recoup the digital copy of the certificate of incorporation by simply logging into at Web Filing and selecting the option “My Recent Filings”. But it said it will only remain there for 10 days. After this time of 10 days is over, one can easily access their certificate of incorporation online through Companies House free Beta Service, or can also order an authorized certificate (FEES APPLICABLE) by contacting Companies House
Now for those who have registered their company by the postal application service and do not have their authorized original paper certificate, they can just login in and download a digital copy through Companies House free Beta Service.

  1. When will the investors need to use this certificate of incorporation?

Well an investor or the company head will be asked or required to provide this certificate of incorporation when they will go to open a business bank account at any relevant bank, apply for any kind of business loan, selling company shares and at certain circumstances when they decide to sell the company.

  1. Does a new certificate of incorporation needs to be issued if the company name is changed?

When the company name is changed, a new Certificate of Incorporation by the new name is provided by the Companies House. Except the new company name assigned, all details provided on the new certificate will be exactly the same as the original, which includes the company registration number and the company date of incorporation.