Small scale business - SSM registration/ bank account

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Member since 07 February 2019

sri_neoMember07 February 2019 03:10:13

Hi all,

I'm a foreigner working here with talent pass and my wife holding dependent pass who would like to start small scale online retailing business at home. When checking with SSM, foreigners can't register for Sole proprietor or enterprise. Can i get advise how she can do her business legally and more importantly she needs a bank account (current) to carryout transactions.

Thanks,
Sri

Gravitas ViP

Member since 02 March 2011

GravitasViP07 February 2019 03:45:08

9040

Labuan incorporation but only 30% of business transactions can be in MYR. Taxation also follows where the server is located that supports the business. Check feasibility with www.simplyoffshore.com

sri_neo Member

Member since 07 February 2019

sri_neoMember08 February 2019 05:04:37

Thanks. Could you help to elaborate more on this?

Gravitas ViP

Member since 02 March 2011

GravitasViP08 February 2019 05:10:04

9040

Just look at the link which has an online chat.

Check the Hasil website for the taxation rules as well. The company is good at offering advice and reliable (I've been under an incorporation through them).

The important issue is the access to a bank account without a work permit associated with the Directorship as this is usually a basic requirement for any incorporation.

You didn't mention if the market is on- and/or offshore.

Surely Talentcorp can assist with this question as well.

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