Ask a Lawyer and Get Answers to Your Legal Questions
Hello Woody,My name isXXXXX a licensed attorney and am very happy to try and answer your question today.Malaysian law recognizes and permits a variety of business entities, including general partnership, sole proprietorship and limited liability partnership. However, to achieve the most favorable tax and regulatory treatment (not to mention a number of other benefits), your best bet would be to form a corporation.
If you have a follow-up question or need clarification, please just say the word by using "reply" to reach me. I will be sure to check back for any further word from you when I am again working online in this forum.I truly hope all works out for you and that the information I have provided proves useful. Thanks so much for using this service and best wishes for a success business venture!Take care,Ben, J.D.
There are hard to meet licensing requirements (in terms of heavy license fee and long processing time) and implication of GST and income tax deductions requirements on the payments you receive or make. Since the margins are very thin it makes the whole business unfeasible. However, there are whole sale telecommunication companies operating from duty free islands on Malaysia like Labuan. I am actually wondering, how did they manage to get rid of the requirements of telecom license, GST and income tax deductions required on the remittances? This is what i was hoping to get in response to my questions. Your answer of go for a corporation form of business doesn't help at all.