business registration process
DESCRIPTION
BUSINESS REGISTRATION PROCESS. First step- Acquiring approval from the Registrar of Companies for business names The Registrar of Companies may refuse registration of a proposed name if it is similar to an existing registered business. This is to avoid confusion/ mislead among public - PowerPoint PPT PresentationTRANSCRIPT
BUSINESS REGISTRATION PROCESS First step- Acquiring approval from the Registrar of Companies for business names
The Registrar of Companies may refuse registration of a proposed name if it is similar to an existing registered business. This is to avoid confusion/ mislead among public
Documents that should be lodged with the Registrar of Companies within this reservation period: -Memorandum and Articles of Association, Statutory declaration of compliance, Form X, Consent to Act as Director and Notice of Situation of Registered Office
After 5-6 weeks, a certificate of incorporation is issued, this is when company may start their businesses
BUSINESS REGISTRATION PROCESSBusiness Name-For registration of companies, Law Building will be responsible to approve the name of a business
SOLE PROPRIETORSHIP Upon approval of the proposed name of the business, a business name certificate will be issued and a fee of B$30 will be imposed Currently, no income tax is imposed Foreigners are not eligible to register as a sole proprietor
PARTNERSHIP A partnership may consists of individuals, local companies and/or branch of foreign companies and the maximum permitted number of partners are twenty people Upon approval of the proposed name of the business, a business name certificate will be issued and a fee of B$30 will be imposed Currently, no income tax is imposed
BUSINESS REGISTRATION PROCESS
BUSINESS REGISTRATION PROCESSBusiness Licensing Rampaian License can be obtained from the Municipal Department (Jabatan Perbandaran)Bahagian Perlesenan dan Penguatkuasaan of District Office (Jabatan Daerah) will be responsible for approving the business license that is Rampaian License First time application approval will be within 21 days and renewing a Rampaian License will take 7 working days
REQUIRED DOCUMENTATION Form A and B must be filled in completely Copy of identity card Copy of Pendaftaran Perniagaan/ Form X Recent coloured passport size photo Site plan of shopLayout plan of interior Approved Geran Tanah/ Lesen TOLLatest receipt of Cukai TanahApproval letter of construction/extensions from PSJ Tanah/PSJ Perancang Bandar/Desa Approval letter for building construction/extensions/modificationsCopies of rental contractCopies of blue cardApplicants’ valid driving license Copies of motor vehicle insurance