There is currently a global trend for good health, which has been boosted by the current Covid-19 pandemic, something that highlights the need for a strong immune system, and if you run a successful health company that retails products and you would like to enter the Malaysian market, there are aspects to consider.
Company Registration Options
There are 3 main ways that you can set up a company in Malaysia, which are as follows:
- Representative Office (RO) – If you would like to set up an office from where you can carry out further market research, this is the type of licence for you. This is a non-trading entity with no minimum share capital, and you are liable to comply with local laws, plus you are allowed to have one foreign business manager. This entity is valid from 2-5 years and each case is taken on its own merit, allowing you to decide whether to invest in Malaysia with a future development.
- Private Limited Company – This is the most common option, as it allows you to trade, enter into legal agreements and there are no restrictions on your business activities, but you must comply with local laws. As with any limited company, your liabilities are limited to the amount you invest in the business, and if you talk to the experts at https://malaysia.acclime.com/, they have all the solutions. Known as Sdn Bhd, it is possible to own a foreign company 100%, which requires a minimum of RM 500,000, and this is a trading entity that offers limited liability.
- Offshore Company – Setting up an offshore company offers low taxation, asset protection and privacy, and with a local law firm helping you, the company can be up and running in a couple of weeks. Labuan is the ideal location to base your offshore company, as this is a federal state in Malaysia that has its own laws and is much like an independent state. Holding companies operate tax-free and are not required to do an audit, while you also enjoy special long-term visas for you and your family. Here are some SEO tips for the healthcare sector, which is worth a read.
If you are in the planning stages of setting up a business in Malaysia and you need to do some market research, then opening a representative office would be the best way to start, and when you are sure that the domestic market is healthy, you can create a private limited company, which allows you to open a chain of retail stores. Here is some Malaysian government information about setting up a business in Malaysia.
Once your company is registered, you will require digital marketing to establish a presence in Malaysia, and by talking to a leading Malaysian SEO provider, they can put together an aggressive marketing plan, and should you be in agreement, the work can begin. This would include store-opening events to promote your arrival in the health sector, and if you do your market research, you can identify your target audience.