Enthrall Yourself with Launching Your Business
There is possibly nothing more exciting than watching your dream startup getting a start. But this dream requires struggle and dedication to turn into reality. A business does not start with just a service or product but also with fund, target audience and clients and legal obligation. Any business requires target audience who will be the consumers; fund that will keep the operation going and legal procedure that will give it a legal status in the market.
All of these things require a lot of research and going through a complicated set of procedures to prepare the ground on which the business will ultimately stand. A private limited company is one of the most common forms of business entity. There are some advantages to this business set up. In Malaysia, such business entities have a separate legal identity. It has the right to enter a contract, go into debt, get sued or sue in its own name. If you are looking to small business to start in Malaysia it can be your favorable format, particularly with help from 3E Accounting Malaysia.
The liability of the owners
In case of private limited set up in Malaysia company incorporation, the owner and its assets are completely separate. The liability of the owners towards the company is limited to the amount they have invested. Even if the company fails to meet its promises, no creditor will be able to go after the assets of the owners. No share of the company is traded on the stock market. The number of members in such a setup can start from one and go up to 50 people.
Foreigners and private limited company in Malaysia
This country allows foreigners to own a Malaysian registered company completely. Ministry will take care of 100% ownership by foreigners for retail and wholesale. This is a way to keep the local business safe from tough competition. Some businesses require higher amount of capital depending on the nature of it.