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| Legal Subjects > Business Law > Sole Proprietorships | |||||
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Main Category Related Topics WHAT ARE THE NAMES THAT I CAN USE FOR MY BUSINESS ?You can either use your own name as stated in your National Registration Identification Certificate (e.g. Ali Bin Sulaiman or Lee Kim Lim) or a trade name (e.g. ABC Enterprise or ABC Import-export Agency) for your business. In West Malaysia, if you register using your own name, you do not need to apply for a business name approval. However, if you wish to have a business name, you must apply for approval using the "Application of Business Name Form" before registering your business. In Sabah, you do not need to apply for business name approval - be it your own name or business name. You only provide the name during the registration. Please note that there are certain names that cannot be registered as business names. You cannot register the name of a person who is not the owner of the business. Names that has been registered by others are not allowed. You are also prohibited to register names that contain words which implicate connection with government agencies or department, country and state. Business names cannot contain the word "Royal", "Diraja", "National", "Nasional", "Cooperative", "Koperasi" and "Chartered". Names using words that may be interpreted as being registered under any other law such as Companies Act, Societies Act or body corporate by "Royal Charter" or any local authority cannot be registered too. The Registrar of Business, Municipal Council and Dewan Bandaraya have the rights to reject application for name which in their opinion is misleading as to the nature, scope or importance of the business carried on or to be carried on under such name. HOW DO I START A SOLE PROPRIETORSHIP ?The application procedure is simple for a sole proprietorship. You must register your business as soon as it commences business. Therefore, you are require to register business which is in existence or business that has commenced. It is an offence for not registering your business. Application procedure in West Malaysia is slightly different from the state of Sabah, East Malaysia. In all application, ball point pen must be used when filling in forms. West Malaysia Fill up the form accordingly. "Form A" must be verified by the associates of the business and the signature attested by either a member of Parliament, member of the Dewan Undangan Negeri, judge, magistrate, advocates or solicitors, village headman, Justice of the Peace (J.P) or Commissioner for Oaths. Attach a copy of your NRIC with "Form A" The registration fee for a sole proprietorship business is RM25.00 per annum for those using their personal name and RM50.00 per annum for using a business name. There is an additional fee of RM1.00 for each branch registered and RM5.00 for a copy of registered business information. A "Certificate of Registration" will be issued for all successful applications. You must then display the "Certificate of Registration" at the business premise. Sabah, East Malaysia The registration fee for a sole proprietorship business is RM25.00 per annum and RM5.00 processing fee for both personal name and business name. A "Trading License" or "Form B" will be issued for all successful applications. Your "Trading License" should be display at the business premise. | |||||