License from the local Government
Any entity before it commences its business, it must apply to the local Government for the following licenses :-
- trade license,
- office management license,
- signage license, and store license to stock raw materials.
License for Property Developer
Any person undertakes to carry on his business in property development must first apply and gained approval to act as a developer from the Ministry of Urban Wellbeing, Housing and Local Government if he wishes to develop 6 units and above of any development.
A company must have a minimum issued and paid-up capital of RM250,000/= and place it under an account known as Housing Developer Account (HDA).
License for manufacturing sector
Any business entity that engages in manufacturing activity in Malaysia with paid-up capital of 2.5 million and above must apply a manufacturing license from the Ministry of International Trade and Industry, except it is a license holder of License Manufacturing Warehouse (LMW) or exempted by the authority.
License for financial institution
Company intends to provide financial services are required to apply licenses from the Ministry of Finance and Central Bank of Malaysia (Bank Negara Malaysia).
Financial services including the provision of banking, financial and insurance services which are to be complied with the Banking and Financial Institutional Act 1989.
License for oil and gas industry
Foreign oil and gas companies wishing to exploit, explore and obtain any oil and gas contract in Malaysia must first enter into a production sharing agreement with Petronas (the national oil company of Malaysia). Any such companies intend to carry on upstream petroleum activities is required to be licensed by Petronas.
The Petroleum Development Act 1974 regulates all the petroleum and petrochemical industries.
License for money lending
No company or individual is allowed to involve money lending business unless it is licensed by the Ministry of Housing & Local Government.
The license is approved by the Ministry of Housing and Local Government.
License for money changer
Money charger is part of the Money Services Business of Malaysian Central Bank or Bank Negara. Hence, those who intend to provide money changing service are required to apply for a license from the Central Bank.