Incorporate a Shipping Company in Malaysia
Updated: Apr 13
Investors intending to undertake shipping services are required to incorporate a company under the Companies Act, 2016.
The paid-up capital requirement for shipping companies registered under Companies Act 2016 is not less than RM100,000.00 (Ringgit Malaysia).
100% foreign equity ownerships is allowed.
Application for Licensing
Companies planning to operate as Shipping Agents are required to obtain the relevant licences from the Royal Malaysian Customs Department in accordance with Section 90 of the Customs Act, 1967.
Approval of Shipping agents to become an import or export agent in Customs matters is subject to Section 90, Customs Act 1967. Applications should be submitted to the Royal Malaysian Customs Department.
To apply, use an application Form and submit the completed document to the State Director of Customs where it will be processed along with other supporting documents such as Business Registration Certification, a copy of Share Certificate, Form 24, Form 49 as well as letter of appointment from customers and a list of represented customers.
Any person who intends to act as an agent shall attend a course on matters relating to customs and pass such examination as may be specified by the Director General. The Director General may waive the requirement if he is satisfied that the person has sufficient knowledge on matters relating to customs. He shall also produce a written authority from the person on whose behalf he is to act.
Applicants also have to state the address of operating branches. In case a branch is established after approval to become an agent is obtained, companies have to notify the State Director of Customs where the parent company operates and forward a copy to the State Director of Customs where the branch will operate.
The approval for new application as shipping agent is given for a period of one year (renewable) and is subject to the conditions stated that could be added to or changed when necessary. The company has to prepare General Bond according to the amount fixed by Customs.
Approval to become a shipping agent by the State Director of Customs in one state also covers company branches in other states.
For further information regarding application to become a shipping agent, the public can contact the nearest Customs office or address their inquiries to:
Customs Division, Import / Export Branch, Royal Malaysian Customs Headquarters, Level 4 South, No.3 Persiaran Perdana, Ministry of Finance, Precinct 2, Federal Government Administration Center, 62596 Putrajaya, Malaysia. Tel: (603) 8882 2332 Fax: (603) 8889 5881
Connect with Us to Incorporate a Shipping Company in Malaysia Today!
If you wish to explore shipping business opportunities in Malaysia, please contact Bestar for more information regarding application to incorporate a shipping company in Malaysia.