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Q: Home Based Business in Malaysia ( No Answer,   1 Comment )
Question  
Subject: Home Based Business in Malaysia
Category: Business and Money > Small Businesses
Asked by: mr_diablo-ga
List Price: $20.00
Posted: 26 Jan 2005 09:42 PST
Expires: 25 Feb 2005 09:42 PST
Question ID: 463703
I am having trouble finding specific information about setting up a
home based business in Malaysia. I need to know:

1) Do I need to register a home based business in Malaysia?
2) If yes, where and how to do it?
3) Are there any tax benefits to Malaysian who own a home business?
4) Where can I get more information from other home business owners in Malaysia?
5) What association / government body in Malaysia can I register with
for more benefits to small or home based entrepreneur?

Note: I need information specific to the Malaysian market, ie
entrepreneur operating in Malaysia only. Not looking for general
answers and websites.
Answer  
There is no answer at this time.

Comments  
Subject: Re: Home Based Business in Malaysia
From: deskah_ruyo-ga on 31 Jan 2005 01:36 PST
 
Hi Mr_Diablo, 

** words in bracket "[ ]" were translated from malay into english **

First of all, please forgive my gramamr mistake...
Okay i'll tried to answer as many question as i could, for your
question on setting up a home based business in Malaysia.

1) Do I need to register a home based business in Malaysia?
Yes. You need to register as a sole proprietor or Sdn. Bhd.[Pty Ltd]
in order to do business in Malaysia. Every single person in malaysia
who ever wanted to establish a business in malaysia must registered a
company name from SSM.

2) If yes, where and how to do it?
First think of the company name that you want to register then you
will have to go to the nearest SSM(Suruhanjaya Syarikat
Malaysia/[Companies Comission of Malaysia]) office, get the form that
you wish to fill in either Sole Proprietor or Sdn Bhd. from the
counter. Fill in the form and submit to the counter.

The person in charge will do a check on the company name, if nobody is
using it, then he/she will register it on the spot.

The address of SSM offices can be located from their website:
http://www.ssm.com.my/contact_us.htm

Main Office : Tingkat 2, 10-18, Putra Place, 
	100 Jalan Putra, 
	50622 Kuala Lumpur, Malaysia

A one time registration fees of RM70 will be colected(RM 60 for
one-year license + RM 10 for search company name).

3) Are there any tax benefits to Malaysian who own a home business?
Basicly NO, every types of business in Malaysia are bound to pay tax.
There's no benefit for home base business. The total amount taxed are
base on a rate provide by IRB(Inland Revenue Board of Malaysia)
Further information on IRB can be reach at 

http://www.hasilnet.org.my/english/eng_index.asp

If the annual profit made from the home-based business is below the
target set by IRB. Then you are free from taxation.

I'm sorry that i couldn't answer your question 4 and 5. As i hardly
get any information into that.
4) Where can I get more information from other home business owners in Malaysia?
Well, you could find some information from the web.
A free trade zone website:
http://mir.com.my/MIR-FTZ/index.php3

Malaysia Business directory guide:
http://www.eguide.com.my

Others Malaysian home-based business portal:
http://homebisnes.com/index.html
http://www.free.com.my/

Sorry that i couldn't answer all of your question.

Regard 
ruyo

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