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BUSINESS REGISTRATION PROCESS

BUSINESS REGISTRATION PROCESS. First step- Acquiring approval from the Registrar of Companies for business names The Registrar of Companies may refuse registration of a proposed name if it is similar to an existing registered business. This is to avoid confusion/ mislead among public

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BUSINESS REGISTRATION PROCESS

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  1. BUSINESS REGISTRATION PROCESS • First step- Acquiring approval from the Registrar of Companies for business names • The Registrar of Companies may refuse registration of a proposed name if it is similar to an existing registered business. This is to avoid confusion/ mislead among public • Documents that should be lodged with the Registrar of Companies within this reservation period: • Memorandum and Articles of Association, Statutory declaration of compliance, Form X, Consent to Act as Director and Notice of Situation of Registered Office • After 5-6 weeks, a certificate of incorporation is issued, this is when company may start their businesses

  2. BUSINESS REGISTRATION PROCESS • Business Name • For registration of companies, Law Building will be responsible to approve the name of a business

  3. BUSINESS REGISTRATION PROCESS • SOLE PROPRIETORSHIP • Upon approval of the proposed name of the business, a business name certificate will be issued and a fee of B$30 will be imposed • Currently, no income tax is imposed • Foreigners are not eligible to register as a sole proprietor • PARTNERSHIP • A partnership may consists of individuals, local companies and/or branch of foreign companies and the maximum permitted number of partners are twenty people • Upon approval of the proposed name of the business, a business name certificate will be issued and a fee of B$30 will be imposed • Currently, no income tax is imposed

  4. BUSINESS REGISTRATION PROCESS • Business Licensing • Rampaian License can be obtained from the Municipal Department (JabatanPerbandaran) • BahagianPerlesenandanPenguatkuasaan of District Office (Jabatan Daerah) will be responsible for approving the business license that is RampaianLicense • First time application approval will be within 21 days and renewing a Rampaian License will take 7 working days • REQUIRED DOCUMENTATION • Form A and B must be filled in completely • Copy of identity card • Copy of PendaftaranPerniagaan/ Form X • Recent coloured passport size photo • Site plan of shop • Layout plan of interior • Approved Geran Tanah/ Lesen TOL • Latest receipt of Cukai Tanah • Approval letter of construction/extensions from PSJ Tanah/PSJ Perancang Bandar/Desa • Approval letter for building construction/extensions/modifications • Copies of rental contract • Copies of blue card • Applicants’ valid driving license • Copies of motor vehicle insurance

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