Open a Travel Agency in Malaysia
Updated on Monday 29th August 2016
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Those who are interested in setting up a company in Asia in the field of tourism can choose Malaysia, as it offers very good conditions in this sense, due to a large number of tourists attracted to its sightseeing locations and tourist packages. As such, it is advisable to open a travel agency here, following the general incorporation procedure available for companies operating in other business fields. The Malaysian government has liberalized in the last years many of its rules referring to foreign investments, but it is recommended to receive assistance from our team of company incorporation representatives in Malaysia to verify if there are special conditions for this field.
Register a company in Malaysia
Malaysia has become a more liberalized market, allowing foreign ownership, under several conditions (for example, only a part of the business fields available here allow the incorporation of a company with 100% foreign ownership).
The registration process begins at the Companies Commission, the main institution regulating the activity of companies with operations on this market.
There are few legal entities available for incorporation for foreigners and, as a general rule, the local legislation requires that each new company to have two directors who are currently living in Malaysia. They can only be appointed if they are they are at least 18 years old.
It is necessary to receive the assistance of a specialist with a legal background for drafting the company’s statutory documents. Our team of company incorporation consultants in Malaysia can assist in other steps of the process, such as the registration for tax purpose or opening a bank account for the newly-formed business.
Licenses for businesses in the tourism industry in Malaysia
Almost all of the companies registered in Malaysia require the issuance of a business permit, which is established in accordance with the business field in which the company operates. Companies set up in the tourism industry in Malaysia will need several business permits, issued by the local town council. It is important to know that the investor is required to apply for the following permits:
• inbound ticketing license;
• outbound ticketing license;
• car rental license (for businesses which offer this type of service).
Investors who need further information on the incorporation of a travel agency in Malaysia or the business permits necessary for this activity can address to our team of company formation agents in Malaysia.