Set up a Company in the Forestry Sector
Updated on Tuesday 09th May 2017
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In order to open a company in Malaysia in the forestry sector, the investors will need to register one of the legal entities available for them. At the same time, they are also required to obtain special licenses for the specific activities carried out by the company, in accordance with the regulations of the National Forestry Act 1984. Our team of company formation representatives in Malaysia can offer advice on the provisions stated under this Act.
Open a forestry company in Malaysia
The minimum requirements for company formation in Malaysia concerning foreign investors are easy to complete. In order to start a business here, the businessmen will need to propose a company trading name at the Companies Commission Malaysia. It is important to know that companies established here can have full foreign ownership. At the same time, the investors will have to appoint a company’s director and a secretary. Our team of consultants in company formation in Malaysia can offer advice on the regulations referring to the directors of a local business form.
When performing business activities in this country, it is also necessary to open a corporate bank account, in which the minimum share capital will be deposited, depending on the legal entity chosen for incorporation.
Legislation referring to forestry activities in Malaysia
The main rules of law regulating the forestry activities in Malaysia are the National Forestry Act 1984 and the National Forestry Policy 1978.
In order to complete the procedure of company registration in Malaysia, the investors will need to obtain business permits. It is necessary to know that the National Forestry Act prescribes the Permanent Forestry Estates that are managed under the authority of the state.
In order to extract products deriving from the Malaysian forestry, the local authorities will issue a permit for the respective activity. In this case, the authorities will issue the Environmental Impact Assessment, applicable for timber extractions.
Please contact our team of agents in company registration in Malaysia for further information on this matter.