Expanding business operations internationally can be an exciting challenge, and Malaysia’s strategic location, growing economy and tax incentives presents itself as an attractive destination for foreign companies looking to establish a presence in Southeast Asia. One common approach to enter the Malaysian market is through the establishment of a Representative Office/ Regional Office.
The following types of business entities are obligated to be independently audited for each financial period in accordance with the relevant laws and regulations of Cambodia. Public enterprises. Enterprises with public accountabilities, for example, banks insurances and those that have debt instruments traded in the domestic or international stock market.
BOs are always natural persons who ultimately own or control a legal entity or arrangement. Section 2 of the Companies Act 2016 (CA 2016) defines BO as the ultimate owner of the shares and does not include a nominee of any description. The definition of BO must also be read together with Section 8 of the CA 2016.
The Industrial Coordination Act, 1975 (ICA 1975) governs Malaysia’s industrial sector. Companies that are or plan to be active in the manufacturing business must comply with the regulations mandated by the ICA 1975. The ICA 1975 defines manufacturing activity as “the making, altering, blending, ornamenting, finishing or otherwise treating or adapting any article or substance with a view to its use, sale, transport
Vietnam's export processing enterprises (EPEs) refer to enterprises that are established in Vietnam's export processing zones, industrial zones or economic zones and specialize in the production and processing of export products. If an export processing enterprise (EPE) fails to satisfy the customs supervision requirements within one year from the date of incorporation
Enterprises that operate or produce food must have a food hygiene and safety license. This is a certificate issued by the state authorities to enterprises dealing in or producing food. The main purpose is to prove that the enterprise has fully complied with the necessary conditions for food safety and hygiene.
Tour operating business (Inbound and Outbound) means any business of providing all or any of the following services: Arranging for sale or commission any transportation, accommodation, tour services or any other incidental services for tourists within or outside Malaysia;Organising or conducting for sale or commission inbound or outbound tours; Providing conveyances for hire to tourists;
While anybody can start a restaurant business in Malaysia, it is compulsory to first incorporate and register the business with the Company Commission of Malaysia (CCM) also known as Suruhanjaya Syarikat Malaysia (SSM) pursuant to the Companies Act 2016. The registration of a sole proprietorship and partnership in Malaysia is an option available for Malaysian citizens or Malaysian permanent resident holders only.
After incorporation, a company is advised to obtain the necessary license/permit/approval from the relevant authorities before commencing business. The type of business licenses that a company needed is depending on the industry that the company is involved in. Business licenses can be broadly divided into 3 different logical groups, namely general licenses, industrial or sector specific licenses and activity specific licenses.
Quarterly filing of corporate income tax returns is not required in Vietnam. However, Enterprises are required to calculate and pay provisional corporate income tax on a quarterly basis (if any) based on the actual revenue and expenses of the quarter. The deadline for the provisional corporate income tax payment is the 30th day of the following quarter.