LLC in Bangladesh

Because of its useful space virtually 2 large seaports for trades, its ease to create up a business and consistent quick development, monetary specialists are quickly identifying Bangladesh as a promising developing sector. Moreover, it offers charge occasions and exceptions, financial zones, and a disentangled cycle to import crude materials and hardware, creating it far more beguiling for unacquainted speculation. The close specialists at New Horizons will assist you systematically originated a company in Bangladesh.

Bangladesh has its own novel body rules for putting in and dealing unacquainted possessed organizations. Here is that the issue that you just must be compelled to believe this cycle.

Issues doing Business in Bangladesh

Prior to putting in your business, there are some of things that you just ought to contemplate. for example, you ought to provide a residential location use as your listed address. This should be a physical location. New Horizons will assist you with build up a vicinity, noncommissioned workplace.

Also, you ought to open a company ledger and store your underlying settled capital. The cycle to line up a company in Bangladesh has been improved for outsiders. All chiefs and investors are often outsiders. Also, you will be able to end the organization change of integrity live while not visiting Bangladesh.

You will not have to be compelled to get any exceptional visa to fuse a business in Bangladesh. A business visa needs to be spare on the off likelihood that you just got to visit intermittently or head to organization occasions on a transient premise. In any case, on the off likelihood that you just got to move here, you ought to get a piece grant.

Sorts of Entities in Bangladesh

There are some distinct forms of parts that you just will originated in Bangladesh, including:

Limited Liability Company

The most well-known and favored reasonably business substance in Bangladesh for unacquainted organizations may be a restricted risk organization. the foremost convincing purpose behind most unacquainted monetary specialists to line up this kind of business is that non-public restricted organization investors don’t seem to be in danger for the obligations of the organization that surpass the live to provide capital they need contributed. Most segments in Bangladesh allow 100 percent unacquainted ownership. LLC company registration process in Bangladesh is matter of time for the foreign entrepreneurs.

In any event 2 chiefs should be chosen to line up a restricted obligation organization in Bangladesh. These chiefs are often close or unacquainted. still, they should be at any rate eighteen years archaic and may not have ever been indicted for negligence antecedently and must not as of currently be bankrupt. The articles of relationship for this type of business should state knowledge regarding capability shares that the chiefs ought to possess.

There should likewise be in any event 2 investors. There are often up to fifty investors, which could be regular folks or organizations. Chiefs will all whereas be investors. when the consolidation cycle has been finished, additional offers are often given, and investors will move their offers to people.

You should originate the reminder of affiliation and articles of relationship as a feature of the fuse cycle. The notice of affiliation should specific the approved capital. Bangladesh does not force a base or most extreme live of approved capital. the bottom settled cash to enlist a company in Bangladesh Bangladeshi monetary unit one. This total is often swollen when the change of integrity cycle.

Restricted risk organizations in People’s Republic of Bangladesh should submit examined budget summaries to the Bangladesh taxation Authority systematically.

Public Limited

Public restricted organizations ar elementary on the off likelihood that you just got to exchange shares on the capital of Bangladesh exchange.

To set up a public restricted organization, you ought to have at any rate seven investors UN agency are often folks or organizations. you ought to likewise need a minimum of 3 heads of any identity. Public restricted organizations will raise public assets. These organizations should change to Bangladesh’s Securities and Exchange Commission Act 1993.

Options in distinction to putting in an organization in Bangladesh

Organizations that require to check the market or simply participate in specific exercises in People’s Republic of Bangladesh may need to travel through associate choice in distinction to setting a company in Bangladesh, as an example,

Branch setup

A branch workplace is viewed as associate growth of associate abroad parent organization and not its own completely different substance. It should enlist with the Board of Investment and comply with its pointers. Branch workplaces will participate in business exercises on the off likelihood that they need the Bangladesh government’s endorsement. The parent organization is in danger for the branch office’s obligation.

Branch workplaces should submit quarterly settlement explanations and are prone to review.

Delegate workplace

A delegate workplace is allowed if there is a parent organization abroad. this type of workplace cannot gain any close pay or participate in business exercises. Rather, it is used for coordination, correspondence and promoting endeavors. The parent organization pays all the prices and operational expenses of the delegate workplace.

The delegate workplace should enlist with the Board of Investment, the Registrar of Stock corporations, and corporations, and therefore the Bangladesh Bank.

Cycle to line Up an organization in Bangladesh

Given Bangladesh’s willingness to unacquainted speculation, quick financial development, and heavy work prices, you will got to quickly begin the arrangement cycle. New Horizons will examine the various forms of substances you will be able to build up and manage you thru this cycle.

Three clear stages that structure the organization arrangement live in Bangladesh include:

Name Clearance

The initial step is to accumulate name leeway for your projected business name. you will be able to originate a record on-line to start this cycle and afterwards apply for your projected name. Your name cannot be indistinguishable or sort of a current neighborhood organization name, be control or be profane or indecent. once you get name freedom, your picked name is going to be saved for a 0.5 year.

Bank gap

Next, you may open a monetary balance in your business’ name. you ought to then store certificate of indebtedness to the offers into the record. The bank can provide you with associate encashment testament.

Enlistment Documents and Submission

During this stage, you ought to provide company records and completely different structures and submit them to the workplace of the Registrar of Joint Stock corporations and corporations. Archives that you just would require include:

  • Articles of Association
  • Memorandum of Association
  • List of chiefs

You will likewise be got to pay period expenses.

When your application is Affirmed, the Registrar of the Joint Stock corporations associated corporations can provide you with an endorsement of consolidation.

Post Registration Steps

After you have got finished the consolidation cycle, you will got to create additional strides, as an example

  • Issue share endorsements for all investors
  • Obtain a company seal for your organization
  • Obtain associate elastic stamp for your organization
  • Lease business area
  • Apply for your exchange allow
  • Apply for your duty recognizable proof range
  • Obtain a VAT Registration endorsement
  •   Obtain associate Environmental Clearance Certificate, if vital
  • Apply for additional permits to work, if important for your organization

Each schedule year, you ought to flexibly yearly re-visitations of the expense authority. New Horizons will assist you with all the suggests that represented antecedently. Reach North American country these days to start.

How to start a business in Saudi Arabia

How to start a business in Saudi Arabia

There are three major considerations to be made by those thinking of starting a business in Saudi Arabia:

  1. You must have a good knowledge of the region. Be prepared to undertake extensive research into the business sector you aim to operate within. You must have a viable business plan, which includes a study of the market conditions, the competition and your forecast results. You must be prepared to find the necessary investment from your own resources or through your bank and preferably by other means than applying locally, particularly if you’re new to the region and without a track record. A credible plan might attract local support, possibly government support.
  2. The law requires that you have a local partner who holds the majority interest and can therefore control the business (as well as close it, if he feels like it…). The local partner, be it a company or an individual, doesn’t need to contribute to the start-up investment or participate financially at all. As with self-employment, there are various ways that a partner can be remunerated. The local partner requirement is currently under review in some states, however, in order to encourage foreign investment.
  3. When the business is registered, you must show the Ministry of Commerce that you have a substantial sum of money to invest. The required sum varies between the states (it’s between $10,000/£6,500 and $50,000/£33,500 in most cases) and is reagrded as a guarantee against liabilities, although you may withdraw the money shortly afterwards!

The process is complex and financially risky, meaning that local knowledge is crucial. You must also consult a good lawyer from the outset. An experienced lawyer will guide you through the registration complexities and his help will be vital in protecting your interests. This applies whether you’re opening a modest shop or a major enterprise. As is the case all over the world, there are unofficial businesses operating in the region, but if anything goes wrong or you’re ripped off, you have no legal recourse whatsoever.

Don’t let these warnings put you off. All isn’t doom and gloom, and many people have developed successful, highly profitable businesses in Saudi Arabia. New operations are encouraged by the authorities and your local partner might be enthusiastically supportive (or he might be a severe liability). Export and manufacturing industries are especially strongly supported by government, particularly as regards the acquisition of land on which to construct a factory. If you set up such a business in a free trade zone, of which there are several in the region, it’s granted exemptions from import and export duties, commercial taxes, building and property licence fees, land tax and restrictions on the transfer of capital invested in the zone.

An alternative to starting a new business is to buy a going concern, which is a more straightforward process, as it doesn’t involve lodging capital, obtaining sponsorship or registration; all you have to do is agree a price and transfer the ownership of the business.

Local Chambers of Commerce can advise about start-ups and are adept at cherry-picking potentially profitable newcomers to the region. Winning the confidence and support of a Chamber of Commerce will help your cause. Contact details are as follows:

  • Council of Saudi Chambers of Commerce and Industry, PO Box 16683, Riyadh 11474, Kingdom of Saudi Arabia (Tel. 966-1-405 3200);
  • Eastern Province Chamber of Commerce, PO Box 719, Dammam 31421, Kingdom of Saudi Arabia (Tel. 966-3-857 1111);
  • Federation of GCC Chambers, PO Box 2198, Dammam 3145, Kingdom of Saudi Arabia (Tel. 966-3-826 5943);
  • Jeddah Chamber of Commerce and Industry, PO Box 1264, Jeddah 21431, Kingdom of Saudi Arabia (Tel. 966-2-651 5111);
  • Riyadh Chamber of Commerce and Industry, PO Box 596, Riyadh 11421, Kingdom of Saudi Arabia (Tel. 966-1-404 0044);

When doing business with Arabs, you will probably meet with hard but polite bargaining and find them expert at it. You need to be completely confident about the contents of your contractual agreement. If there are gaps, Arabs are brilliant at finding and exploiting them. Nevertheless, in the vast majority of cases, Arab businessmen meet their obligations fully. The experience of doing business with them is likely to be pleasant and friendly, and the trust built up on both sides will be long-lasting.

Incidentally, Arabs rarely say a direct ‘no’ to a proposition, so you must listen and observe carefully. If the response is ‘Leave it with me’ or ‘I’ll think about it’, there’s a good chance that the project will go nowhere.

The potential gains of starting and running your own business are great, but it isn’t for the faint-hearted. You need to remember that you aren’t a citizen of the country and when the time comes to leave and sell your interests, your partner has time on his side, while you might not.

Company Registration & Legal Obligations

Corporate law in Saudi Arabia is similar to that in western countries, in that businesses can be run as limited liability operations, private companies or other types of concern. As discussed, setting up a business or buying a going concern can be complex and you must obtain local legal advice and guidance about registration formalities. As a foreigner, you’re likely to use a western/Arab joint venture law firm. When choosing, seek the advice of the Arab-British Chamber of Commerce, the DTI, Middle East Association and your Embassy’s commercial sections.

Western expatriates are generally well qualified – they don’t find work if they aren’t – and these qualifications are carefully checked with the issuing bodies, irrespective of where they were obtained. Western expatriates therefore tend to occupy senior positions, with commensurate salaries and perks. Workers from south-east Asia and the Indian sub-continent (who are sometimes – politically incorrectly – referred to as ‘Third Country Nationals’ or ‘TCNs’) usually occupy menial, unskilled or semi-skilled jobs and are paid accordingly.

Even those with professional qualifications and experience as good as those of a westerner are unlikely to enjoy similar benefits, as the remuneration of foreign workers is related to what they would expect to earn in their home countries, which is invariably higher for westerners. However, this situation is beginning to change, especially in the field of technology.

A powerful sponsor or employer is a great weapon with officialdom, and observing his skilful negotiating can be an enlightening experience. The authorities, however, are usually helpful and don’t tend to be difficult unless they have good reason. You will find your working life in the region easier if you’re polite and patient.

Smile and seek ‘advice’: requesting advice confers respect on the person asked and you will generally find that Arabs are friendly and helpful. Note that the recruitment of foreign staff is an expensive exercise for employers, including recruitment consultant fees, legal expenses and travel costs. As a result, few employers put their investment at risk by treating employees badly, and the great majority of expatriates prosper in Saudi Arabia for many years.

How to register a company in Thailand

How to register a company in Thailand

The private limited company is the form of business entity that is most commonly used by foreign investors in Thailand. In this blog post we provide a brief step-by-step overview of the various stages in the business registration process.

Step 1: Registering the company name

The name you chose for your company must not be identical to/or resemble the name of any pre-existing registered partnership or company. Certain terms are also prohibited from use in company names. For example, you may not use the term “investment” in your company name but the term “capital” is allowed. The company name must end with the word “Limited”.

It is recommended that you reserve three names ranked by priority to maximise the chances of success. Your company name will be registered in Thai language, even if the name of your company is in English. Do not propose a name that is lengthy or difficult for non-English speakers. Remember that your clients will have to write it, so the more complicated the name then the more mistakes your clients will make when drafting checks, etc.

The name of your business can be different from your company name. You can also use the same name for several companies proved that you accompany that name with a different figurative word. For example ABC Trading Ltd, ABC Holdings Ltd, ABC Capital Ltd, etc. Once approved, the corporate name is only valid for thirty days and no extension is permitted. This means that Step Two of the company registration process must be completed within this period of time.

Step 2: Filing the Memorandum of Association

The Memorandum of Association is a special agreement made by the founders (promoters) of the company. The Memorandum of Association must contain:

  • The name of the proposed company
  • The province of the Kingdom where the registered office of the company will be situated
  • The objectives of the company
  • A declaration that the liability of the shareholders will be limited
  • The amount of share capital which the company proposes to be registered
  • The names, addresses, occupations and signatures of the promoters (at least three individuals – not corporate entities)
  • The number of shares subscribed to by each of the promoters

The original copy (copies) of the Memorandum must be signed by the promoters and certified by two witnesses.

Step 3: The statutory meeting

The Statutory Meeting can be convened as soon as you register the Memorandum of Association. Its purpose is to:

  • Adopt the regulations (i.e. Articles of Association) of the company
  • Ratify any contracts entered into by the promoters or any expenses incurred by the promoters in promoting the company
  • Fix the amount to be paid to the promoters
  • Fix the number of preference shares (if any) to be issued, and the nature and extent of the preferential rights accruing to them
  • Fix the number of ordinary shares or preference shares to be allotted as fully or partly paid up otherwise than in money, if any, and the amount up to which they shall be considered as paid up
  • To appoint the first directors and auditors and the fixing of their respective powers

Step 4: Registering the company

The application can be lodged at the Ministry of Commerce on the same day that the Memorandum of Association is registered, providing that the Statutory Meeting has already been convened. The application for registration must be lodged no later than three months from the date of the statutory meeting, or you will need to provide a satisfactory explanation for the delay.

The following details must be provided in the application:

  • The total number of shares subscribed or allotted (distinguishing ordinary shares from preference shares, if any)
  • The number of ordinary shares or preference shares allotted as fully or partly paid-up otherwise than in money, and in the latter case, the extent to which they are paid-up
  • The amount already paid in money on each share; the total amount of money received in respect of shares
  • The names, occupations and addresses of the directors and if the directors have, power to act separately, their respective powers and the number or names of the directors whose signature is binding on the company
  • The period for which the company is registered, if any has been fixed
  • The address of the principal office and of all branch offices and any other relevant particulars

It is at this stage of the registration process that Thai shareholders may be required to disclose the source of their investment (refer to separate blog post on this topic). If the company intends to purchase land then there may be additional scrutiny of Thai shareholders by staff of the Land Department.

The director of the company will also need to sign a statement attesting that each shareholder has paid his/her share subscription. Receipts must be signed by the director and mention, the name of the shareholder, the amount paid, the amount of shares purchased, the value per share and that the money is collected for payment of the capital. Shareholders appearing on the first shareholder list must also sign the receipt, whereas shareholders that subscribe at a later stage are only required to sign the share transfer documentation.

Step 5: Registering for corporate income tax and VAT

Once your company has been registered, and within 60 days of incorporation or the commencement of operations, you will need to apply for and obtain a company corporate tax ID card from the Revenue Department. This process can be completed online.

You must obtain the company Tax ID in order to open a corporate bank account. If a foreign director of a company lacks a work permit, then the bank will generally request that the application documents for the opening of the company corporate account be co-signed by a Thai director.

Any business having a turnover of more than 1,800,000 THB per annum, and that is not subject to the Special Business Tax, must register for VAT within 30 days of the date they reach 1,800,000 THB in sales. In addition, should you wish to obtain a work permit then you will need to immediately register your company for VAT (more information about VAT).

The fees imposed by the Thai government in relation to the registration of a private Thai limited company are currently as follows:

Registering company nameNo charge10 THB
Filing Memorandum of Association50฿ per 100,000 THB of capital; minimum 500 THB, maximum 25,000 THB200 THB
Statutory MeetingNo charge
Company registration5,000 THB per million baht of capital up to 250,000 THB400 THB
Tax ID registrationNo charge10 THB
VAT registrationNo charge10 THB


How to begin a business in UAE Free Zone

How to begin a business in UAE Free Zone

Staring an own business in the free zone is very simple and hassle-free. It is because the authorities of free zone only require less duration, minimal paperwork, and fewer efforts.

If you want to set up your business in the free zone of UAE, you must come with a perfect vision. Each business requires a vision. To turn your vision into true is a dream of each person. When you decide to open your own business, you require creating an excellent business idea. Dubai is a UAE city where you can find out an array of free zones to do a trade. Along with this, it also includes free industrial zones which are ideal for the potential investors who like to make more profit out of the investments. In short, Dubai is very healthy with an extensive range of new and other sectors of companies. There are lots of firms globally want to set up their business or company in Dubai. Here are main steps to free zone company setup in Dubai as follow.

Steps to begin your company in free zone

This passage let you know the simple process of starting a company in the free zone. It is significant to know that the authorities of every free zone come with their own regulations and rules. Apart from that, they have their unique setup procedure. The following are common steps of business set up in Dubai:

  • Establish the legal entity type
  • Select your trade name
  • Apply for your business license
  • Select a business space
  • Acquire pre-approvals, get the license and register the business

Decide the type of entity

It is an initial step for setting up a company in the free zone. In the free zone, you can start any one of the following two different kinds of firms, including:

  • FZE (Free Zone Establishment)
  • FZ Co (Free Zone Company)

The shareholder numbers will vary from one type of company to another. FZE needs one shareholder and FZ Co requires more than one shareholder. All kinds of free zones do not register both the two types of business.

Select your trade name

Choosing a trade name is the second step for setting up your business in the free zone. In most of the instance, you can ensure that the selected name is already registered or not with free zone authority.

Select your business activity

In free zone, you can select from more than three thousand business activities that range from more than hundred sectors like shipping, diamonds, gold, commodities, aviation, and energy, professional services, financial services, personal services, community services, FMCG, constructions, technology, media, education and much more.

Acquire initial approval

The business form in every free zone is actually following the rules and regulations of the respective free zone. For acquiring the approvals, you require applying with the documents. The documents list differs from one kind of business activity and company type as well as needs of free zone authority.

Select the office space

It is always helpful to know the dubai freezone company setup cost before leasing or buying a business space in the free zone. You can select the office space based on the number of works and kind of business activity. If you have a limited budget, you can prefer cheapest freezone in dubai.

Acquire the license

The final step is to get the approval. After that, you require paying license fees and registration fees. If you already know the business setup in Dubai cost, you can avoid many unwanted hassles. These are simple steps for uae free zone company formation. By following the steps, you can set up your business in a free zone without facing any difficulties.

Source: thriveglobal,com

How to Start a Business in Malaysia in 15 Simple steps

How to Start a Business in Malaysia in 15 Simple steps

How to start a business in Malaysia is the question in town. Malaysia is a land of opportunities for a sensible entrepreneur. The entire Asian business community considers the Malaysian business circle a trade magnet where good ideas thrive quickly.

Whether you are a foreigner or local, becoming an entrepreneur in Malaysia is a dream coming true.

But most individuals will also say that Malaysian business ownership has become a bit of a myth. So here is a detailed overview of starting a business in Malaysia. We have discussed every misconception that we have come across.

You will find out which ones are myths and which ones are real. You will also gain useful links for all licensing, registration, approval and business research requirements that you may have to fulfill.

So here are 15 simple steps that you will need to follow in order to start a business in Malaysia:

Step 1- Business Plan:

Have a business plan ready and try to stay as on point as possible at the time of execution.

It should be an obvious point but still worthy of being stated. Do extensive research in the Malaysian market and understand the basic culture of the land before you decide to invest.

Step 2- Product Research:

Our advice is to hire a good research agency like Euromonitor to conduct the research for you. The data is the key to understanding how you will invest in your product.

Product research is the most significant part of the business plan. Make sure that you conduct extensive research into the product or services that you plan to launch. Do not just take up a sample of 500 random respondents to a survey.

If you start your business without proper and concrete market research, you may lose your money in many ways that could have been avoided.

Step 3- Opening a bank account:

As business is being launched, you will need a bank account to handle your financial transactions. You cannot use your personal account because the company requires a corporate account.

If you are a foreigner then you will need to have a strong investment. Without a strong investment, banks do not allow foreigners to open bank accounts.

If you are a local individual then you simply need to open a corporate bank account that will allow you to open a corporate account. This account will be needed to manage a large number of transactions for the business.

Step 4- How to start a business with High Remittance Fees:

The remittance fees for opening a Limited Liability Company (LLC) or Private Limited Company (PVT) is famously said to be RM 500,000. That is a gross misrepresentation of the facts. The RM 500,000 is simply a myth and nothing more.

The remittance fee, if you are a foreigner, is RM 5000 and much less if you are local. The RM 500,000 is simply a myth and nothing more.

We advise you to research the topic of remittance here at Advisorybiz. This is a well- respected and trusted site that will guide you on the matter very well. Remittance fees in Malaysia are reasonable and can be easily afforded by any serious investor.

Step 5- Appointing a local director

There is a myth that the company needs to hire a local Malaysian national to be the director of the company. That myth is not true; foreigners can be the company directors and file the paperwork as foreigners.

The myth that the business owner needs to be a permanent resident of Malaysia is also not accurate as a complete foreigner can also own business in the country. You simply need to register your business with the government.

Step 6- Minimum Capital Requirement:

The most common question is what the minimum capital requirement set by the government is if you want to launch a business in Malaysia.

The answer is that there is no minimum capital requirement for small businesses. You can show any capital that you have if it is compatible with your business plan and product than you will easily gain an LLC license.

If you are launching a major industry or a serious business like fisheries, manufacturing or factory based production, and then you need to show RM 500,000 to the government.

This is where the number comes in. To know more about the capital requirement of SME’s check out The STar’s discussion on SME’s in Malaysia!

Step 7- Government Regulation:

Like any other businesses, the regulations of the country have to be taken into account for your business as well.

There are unique regulations for every kind of business but any business that requires import or export as a part of your business plan will need licensing. There is an extensive licensing protocol for import and export business.

The importer export licensing is a long process and every product will have to be approved by a specific ministry.

There is no one office that issues licenses for all imports and exports. More information for import/export license can be found at Bizfluent, the known business website of Malaysia.

Step 8- Common Business Options in Malaysia:

If you want to start a business but do not know which business options are the best then here are a few good ones for you.

Restaurant ownership: Restaurant ownership is considered a great business because restaurants are the most successful enterprise in the country.

Import/Export Business: The import/export industry in Malaysia is very strong so if you can import or export a product in the country then that is a lucrative option.

These businesses are the most commonly opted for a person is allowed to launch a product or offer any services that you feel are better ventures.

Step 9- Licensing Process:

Licensing Process in Malaysia is complex and will require a great understanding of the system. There are three licenses that are available for businesses;

Company License: This will be a license issued by the industry that your company belongs with and will be issued by the relevant Ministry in Malaysia.

Business License: This is the basic license that we have explained earlier.

Activity License: The activity licenses include service/goods tax, building plan approval license, fire brigade approval license, expatriate work permit license and similar licenses that you need in order to run your business.

It should be noted that there are eight other forms of licenses that will be needed. More on licensing at Malaysia Biz Advisory’s website.

Step 10- Launching your business and Product:

Now that you have gained all of these necessary permits and have done your research; it is time to launch your business. By this time, you should have understood the market in a great and detailed manner.

Your product research that was the second step of the plan will help you launch the business in the correct direction. Remember, that focusing your business on the right target market is the difference between a successful and doomed venture.

Step 11- Company registration:

Company registration is a long process as was shown by the licensing process. We made a separate point so that we could elaborate more.

You will require all of the licenses and will need to show all of the paperwork that has been completed.

The process will only continue successfully if you have conducted all of your approvals and company registration is the last step.

Otherwise, it is common in Malaysia for the company registration process to go awry. Company registration applications are commonly rejected unless you have done all of your paperwork and your company is ready to be registered. Here are the steps for company registration in Malaysia y S & F Consulting Firm, renown consulting on legal issues.

Step 12- Doing Business in Malaysia:

There is a common belief that doing business in Malaysia is a tough and arduous task because of the fees.

Truth is, many local, as well as foreigners, have achieved the aim of successful business ownership in Malaysia. There are regulations so that only serious investors will consider doing business in the area.

But if the regulations are seriously followed, then all of the approvals and licenses can be easily gained and the return on investment will certainly make up for the investment itself.

Step 13- How to start a business in the Local Competition:

There is a belief in the local population that the competition in Malaysia is too high for new investment. The truth is that this is a gross misconception.

The competition is high in Johor Bahru, Kuala Lumpur, Penang and Selangor that are considered in Peninsula states of Malaysia.

Eastern Malaysia has much less attention from investors and is open to new products and services. If a person launched their business in these regions then they are going to find themselves as one of the few suppliers of their product.

This is the attitude we were discussing in product research. Make sure that you conduct a good research on where your product or services are in high demand and low supply so that you can take your product there.

Once your product is launched in a less competitive market, it will gain profit quickly and you will be successful without much competition.

Step 14- Promoting Your Business:

Conventional promotion methods are not the best idea for a new business. Commercial advertisement is expensive and most of the commercial advertising is not giving the right results.

We would suggest that you include marketing research in your product research.

Gain a good digital marketing team and launch a digital marketing campaign for your product so that it gains the right attention from the audience as that is a serious issue.

Make sure that you focus your marketing budget where it will gain the highest attention from consumers. In the modern world, the Malaysian population is not watching TV commercials and newspapers are a dying breed.

A better solution is to use the money to reach out to consumers on social media and other digital forums so that the consumers will gain the right attention.

Step 15- Making your business successful

Now comes the part that no one can guide you through. You have to work day in and day out and make sure that your investment comes through.

Our advice: make sure that you truly understand your business before you launch one. A good way to do that is to get a job in the field or get an internship as that will put you in the center of the market.

No school can teach you what a regular experience in the real market will be able to teach you.

This will save you the risk of losing your business because you did not truly understand the market. This is not case-specific advice but universal wisdom that is followed all around the world.

After investing a considerable amount of money into a business, it is only wise to understand the local market before launching the business.

This is our fifteen step guide on how to start your business in Malaysia.

How to Start a Business in Qatar Full guidelines here.

How to Start a Business in Qatar? Full guidelines here.

Starting a business in Qatar will be a profitable venture provided that you understand the Qatari business environment, have a solid business plan to succeed in the country while leveraging the benefits offered by the government for foreign investors.

Qatar’s economy in 2019 is experiencing steady growth despite the continuing economic blockade, as the country is moving towards the path of self-sufficiency and economic development under the leadership of His Highness Sheikh Tamim bin Hamad Al Thani. The state is consistent in improving its infrastructure making life easier for industries, companies and encourages foreign direct investment into the country through a set of laws that allows non-Qatari citizens to invest, own or register a business in Qatar.

To encourage foreign direct investment in the country, the government has revised the rules & regulations set by Law No 12 of 2000, by issuing Law Number 1 of 2010 on the 1st of Feb 2010 authorising the non-Qatari investment into the country and allowing 100 percent foreign ownership for businesses operating in Qatar. The foreign investment in Qatar and complete business ownership by non-Qataris was permitted to new industries including Information Technology (IT), consultancy services, services associated with entertainment, sports, culture, and distribution.

In addition to this, the Commercial Companies law that came into effect since 2015 has eased out restrictions and permitted hundred percent foreign ownership in Qatar for the first time in major business sectors including agriculture, manufacturing, health, education and tourism. More importantly, the business opportunities in Qatar for foreign companies are expanding further as the state is diversifying the economy and the rules are made business-friendly along with lower taxes rates. The law supports the business operations in the country by providing them with various incentives and gives investors the freedom to repatriate all the capital profits gained from their Qatar business to their country of origin without any taxes.

If you want to know more information about starting a business in Qatar contact us our Qatar team would be happy to help you with any information. Our BSW team is expert with the Qatari laws, procedures, and legislation for incorporating your business in Qatar and assist you in running a successful company.

Advantages of Starting your business in Qatar

  • Open trade policy which facilitates international trade
  • Zero percent tax on exports
  • No income tax or social security deductions payable on wages and salaries
  • State-of-the-art modern telecommunications infrastructure
  • Excellent and well-connected transport system
  • High quality, modern offices, and luxurious residential accommodations
  • Inexpensive workforce, a relatively straightforward procedure for recruitment
  • Qatar has Luxury hotels, hospitals, schools, shopping malls, and many more facilities
  • Lowest corporate tax on foreign companies 10 percent (as of 1 Jan 2010)
  • Foreign investors are permitted full repatriation of capital and profits overseas in foreign currency
  • Access to double taxation treaties with Algeria, Bangladesh, Belgium, Cyprus, France, India, Italy, Luxembourg, Macedonia, Malta, Morocco, Pakistan, Poland, Romania, Russia, Senegal, Seychelles, Singapore, South Korea, Sri Lanka, Tunisia Turkey, and Venezuela

Things to Consider the Business Environment in Qatar

Know the Country

Qatar was formed from a loose association of tribal groupsprimarily engaged in pearl harvesting and fishing. This came to an end in the 1930s when thepearl market collapsed. In 1935, the establishment of Qatar General Petroleum Corporation took place, signalling the end to one phase of Qatar’s history and thebeginning of the next.

Currently, the State of Qatar is headed by the Emir His Highness Sheikh Tamim bin Hamad Al Thani with Abdullah bin Nasser bin Khalifa Al Thani as the Prime Minister, Arabic is the official language besides English is widely used and preferred within business circles.The state has excellent infrastructure, robust financial sector and effective government policies to protect and guide the citizens, residents and businesses of Qatar to success even in hard times.

Business Culture

Dealing with Qatari people in business one can expect a strong focus on the Arabic business etiquette even though most of the people working in Qatar are expatriates they are accustomed to the region’s culture and customs.

  • Business meetings in Qatar are conducted elaborately in a slower pace involving several frequent visits and meetings which are patiently carried out to understand the client, build trust and reciprocity
  • Most business negotiations are carried out in English, while the paperwork and documentation is primarily done in Arabic with English translations provided wherever needed
  • The Qatari people place great importance on getting to know their business contacts personally and make an effort to develop a relationship with them. As the business and personal lives are closely intertwined in the Arabic culture.
  • Networking and facetime outside business hours (i.e., an invitation to lunch or dinner) are given significant importance as hospitality is very important in Qatar
  • Importantly, it is essential to remain courteous and patient at all times during business meetings to maintain a respectful relationship with the opposite party. Itshall prove to be useful in future handlings and improves your reputation, which is essential in a small country like Qatar
  • Avoid aggressive behaviour, make sure you are mindful while promising what you can deliver as your verbal commitment in the conversation are regarded in equal importance toa written contract

Foreign Relations

The state of Qatar follows an independent international policy and enjoys diplomatic relations with all the major countries in the world. Qatar is a strategic trade partner to the People’s Republic of China, and the relationship between the two countries growing stronger despite several issues.

The Qatari people have shown their resilience even in the times of illegal blockade, where the close neighbours weren’t on good terms with them. They firmly believe in the fruits of hard work, independent decision-making and effective management of the country’s resources, with strength in solidarity under the Emir of Qatar. These real-life examples show the true spirit of the Qatari people who are enterprising, generous and honest by virtue.

Qatar has invested in heavily in developing world-class infrastructure, legal framework with international standards and efficient administration. The country offers benefits of an exceedingly advanced economy, with state-of-the-art facilities enhancing productivity, quality and best-in-class services.

Major Cities in Qatar for Starting your Business

1. Doha City, Ad Dawah

Doha is the capital city and seat of Government; it is a significant economic hub as well as the commercial, cultural and educational centre of the country. It has the country’s main seaport and modern international airport. It has an advanced road system linking it with the theinternational road network, and it is Qatar’s cultural, commercial and financial centre. Ad Dawah is a place filled with desert escapades, water sports, shopping indulgence, modern sporting equipment, historical museums, fine-dining, luxurious attractions and other natural attractions.

2. Al Rayyan City, Al Rayyan

Al Rayyan is located 10 kilometers north of Doha. It is the largest residential area outside of Doha.

3. Al Khor City, Al Khawr

Al Khor is a coastal city 57 kilometers north-east coast of Doha with a port for Municipality includes the emergent Industrial City of Ras Laffan. Al Khor is renowned for its harbour comprising fishing boats and small crafts. It is also famous for its beaches, historic towers and mosques.

4. Al Wakra City, Al Wakrah

Al Wakra is situated between Doha and Mesaieed, 15 kilometres from Doha, and has a small harbour for fishing boats. Al Wakra evolved itself into a small town with an industrial population who usually work in Mesaieed and Doha city.

5. Dukhan, Al Shahaniya

Dukhan had one of the first onshore oil production centres, oil in the Dukhan oil field was first drilled in 1939. It is situated halfway along the western coastline of the Qatari Peninsula. It has developed since the exploitation of the country’soil reserves commenced in 1949. Dukhan has one of the oldest mosques in the region Al Khotba Mosque, erected in 1942. There is a watersports club in the area called Dukhan Water Sports offers services such as powerboat sports, jet skiing and windsurfing.

6. Umm Said, Al Wakrah

Umm Said is the core of Qatar’s industry, situated 45kms south of Doha, on the east coast peninsula. It is both an oil-export and commercial port with refineries, as well as other industrial establishments producing natural gas liquids, steel, petrochemicals and fertilisers. Umm Said has excellent beaches too.

Industrial Cities in Qatar

1. Ras Laffan Industrial City (RLIC), Ras Laffan

The Ras Laffan Industrial City is a 40 sq. Km estate, strategically located on the north shore of the Qatari Peninsula and at the centre of the Arabian Gulf, and because of its proximity to the North Field (the largest natural gas field in the world) the RLIC facility is used to operate the Ras Laffan offshore site. The Ras Laffan Industrial City is the home to the Pearl GTL Plant world’s most massive Gas-To-Liquid complex and host of many hydrocarbon-based industries including Qatargas, Rasgas.

2. Mesaieed Industrial City, Al Wakrah

Located 45kms south of Doha, Mesaieed is the major industrial city in Qatar. It has a large seaport as well as the main terminal for the export of oil and other hydrocarbon products. The city has industrial area housing primary industries, a large seaport, and the main terminal for export of oil. The beaches atMesaieed with their beautiful sand dunes are considered to be among the most important tourist areas in Qatar. The Mesaieed Industrial City host significant industries such as Qatar Petroleum Refinery, Qatar Fertilizer Co. and various other industries.

Types of Business Entities in Qatar

While planning to start a business in the state of Qatar, it is essential to select the perfect type of business vehicle for your company in Qatar. The government has created company structures for businesses interested in starting operations in the country according to the activity.

  • One Person Company
  • Limited Liability Company
  • Public Shareholding Company or Joint Stock Company
  • Branch of a Foreign Company
  • Representative Trade Office

Facts about Qatar

The Limited Liability Company structure is the most common form used by international businesspeople to start their ventures in Qatar. Click here to know more about starting an LLC in Qatar as a foreigner

Relaxed immigration for migrant workers and very fewer restrictions on recruiting staff from overseas which can significantly reduce business costs

Qatar’s population is about 88 percent foreign at any given time the country is home to 180 different nationalities. Major communities in Qatar come from India, Nepal, Bangladesh, Philippines, Egypt, Sri Lanka, and Pakistan

Qatar has one of the highest GDP per capita income in the world

It is the world’s largest liquid natural gas exporter with 910.5 trillion cubic feet of natural gas in the Northern Fields

Free Zones in the State of Qatar

Free zones in the State of Qatar have distinctive regulations allowing foreign investment in Qatar and offers specialised purpose-built infrastructure, facilities, cutting-edge technological foundation, state-of-the-art zones with unique equipment for industries, companies and businesses operating out of the zone. Furthermore, the free zone provides 24/7 security, exclusive support services, a relaxed set of rules, excellent connectivity with other manufacturing zones and free zones.

  1. Qatar Financial Centre
  2. Qatar Science and Technology Park

Click the links above to know detailed information about the respective Qatar free zone.

Process for Setting up your company in Qatar

1. Commercial Registration

Commercial registration is the first step in registering your business in Qatar.

2. Trade Name Registration

Trade name reservation with the Ministry of Economy and Commerce in Doha.

3. Opening a Temporary Bank account

Open a temporary bank account for handling your company’s finances.

4. Drafting the Articles of Incorporation

Articles of Incorporation and Memorandum of Association must be prepared on behalf of the company and submitted to the authorities when required.

5. Issuance of CR

After the issuance of the Commercial Registration, you will have the following with you at the end.

  1. Registration with the Ministry of Economy and Commerce you can open a permanent bank account, dispatch invoice, accept payments and carry out transactions
  2. Trade License issued by the Ministry of Economy and Commerce with which you can carry out the licensed business activity in the country
  3. Computer Card with which you are authorised by the Qatar Immigration to hire someone or sponsor residence visa for an expatriate employee to work in your business

Click on the link to get detailed information on how to register your company in Qatar

The State of Qatar through its visionary plans and cutting-edge infrastructure projects planned in 2019 according to the comprehensive strategy for growth “Qatar Vision 2030” is accelerating the country on the path to success. The massive diversification of Qatar’s economy over the dependence on hydrocarbons has been reflected in the policies of the government, as the state is actively enhancing its capabilities to develop a diversified commercial and industrial base. 

Besides, the state’s open trade policies and the extraordinary economic strategies combined with the help of the foreign direct investment which encourages international business to operate in Qatar while they largely contribute to the economy by diversifying its growth in finance, construction, technology and educational services. If you are interested in known more about starting your business in Qatar feel free to contact us for any queries.

How to start a startup in Malaysia

Startup in Malaysia
Startup in Malaysia

There are many business opportunities in Malaysia not like restaurant, hotel, grocery shop. Startup business as young entrepreneurs in Malaysia is risk free if make a good plan. Find a good location of business if business is relating SME as location is fact of sale. For others, place is not fact as online marketing and goods delivery ways are perfect. Startup companies fight with many difficulties like family, friends, competitors, ego and many more. As a result, business is closed after certain time being lacking perfect plan. The main key of successful is stay in market for 3-5 years at any cost without listening side talk. Yes, as smart entrepreneurs make short- and long-term business plan for first 6 months and next 2-3 years. Know your competitors, product price and service quality and keep study on it. Accept any challenge in everyday and go ahead.

Small Business

This type of business is challenging more than others as many issues must handle. Risk factor of small type business is high, 70%-80%. A lot of competitors nearby and DBKL, MBPJ department will be keep checking as regular duty. Shop rent is higher also and if sales are lesser than expenses is fact of counting loss. 80% of customers visit from street and stranger whereas lots of other shops available with same goods those you have. Be different than others considering shop decoration, attitude of sales team, online marketing, online promotion, location and goods marketing, attractive office etc. Buyers now a day search in Google to find the desired goods from nearby. Promote your product regularly to be visible online and keep contact number active. One simple map (one page) to go out from here to popular places can give to all customers as social work as stranger face difficulties to come out from market. Request for a customer review in Google business address and keep a computer in front with WiFi connection. Buy goods from wholesale market and stock some common goods to sale in pick time. This is how startup will develop in business and expand in certain time.

Medium Business

Risk factor is 30%-50% as investment is bit higher than small business. Super Shop, Service company, wholesale, export, import business are example of medium enterprises and there are many more. Keep strong connection with buyers and make multiple business plan to increase the sale. Promote your business regularly and expand social networking and keep small budget for promotion. Check price rate of goods and services from market and provide best services to customers. Promote membership at 10% discount rate on any goods. Setup office in convenient location where car parking facilities are available. Provide A-Z service and all goods are available those are need as customers. Sale goods and services through apps on 10% discount always.

Large Business

Risk factor is less but investment is high as startup must be experience before setup big industry. Hire right person is number 1 as importance to run business smoothly. Check fixed and variable and production cost and total sales volume. Promotion will keep going on and goods and service quality must high priority. Raw materials, delivery of goods, labor force, machines, vehicle and many more necessary be ready. Goods delivery on time is challenging otherwise compensation must be there. Once reputation is achieved can sale franchise and open multiple offices to ensure better service and sale. Setup factory in trade free zone area to enjoy tax holiday to reduce cost that helps to increase profit. Keep checking goods by quality controllers’ team and uphold brand image.

Conclusion: Each business must take 3-5 years plan to be successful. Sustain in business is challenging as startup but never give up within 3 years and shut business down at any cost. If you overcome challenges of 3-5 years must be market leader and established businessman. First investment plan for 6 months as beginning time and then 1 year and 3 years plan. Register Sdn Bhd company by SSM in Malaysia within low fee instead of proprietorship as smart choice as FDI law for foreigners and local as SSM rules.