need assitance

Last activity 13 August 2014 by Gravitas

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AskaniTinaMember13 August 2014 09:33:31

Hello there,

I am looking to move in KL Feb 2015, what is the best area where I can invest??
I am interested in north Indian restaurant and gents saloon at the present time, back home I usually set up the business and let some one run it and pay me a monthly amount means he runs the show, this way I believe he will work hard to make more money in the end it benefits both parties . wondering if this work in KL specially am not aware with attitudes of people in KL with all my respect.

in gents saloon I usually do 40% 60%, means I open the business I get 40% from revenue and the runner of the business get 60% but he has to shoulder all salaries, rental and other expanses or a fix amount like 2000 to 2500 a month only, no matter how much he generates a month.

I need help and some advices,

thank you

Askani

GravitasViP13 August 2014 10:10:50

9040

It requires a considerable amount of capital for foreigners to set up businesses in Malaysia, if they are to be 100% foreign owned. Two Directors are needed and a paid up capital of RM1 million is required. There are also operating licences to be obtained. Some types of business are not permitted and small restaurants are one of these - there is a rule that it should have a "unique" concept and a minimum floor area of 1,500 square feet.

You can of course set up a company with a Malaysian Director having 51% equity and then only RM350,000 paid up capital is required.

This website explains lots of the rules:

http://malaysiabizadvisory.com/malaysia … oreigners/

The menu on the right-hand side has more options. Setting up a Labuan entity is not an option for you as the business will be conducted in Malaysian Ringgit and this is not permitted with this type of company.

As you will see from this web page, barber services are also one of the types of business NOT permitted to be 100% owned by foreigners.

http://malaysiabizadvisory.com/type-of- … -malaysia/
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