Why Register a Cosmetic Company in Malaysia
There are several reasons why you might want to register a cosmetic company in Malaysia.
Malaysia is a growing market for cosmetics. The Malaysian cosmetics market is expected to grow at a compound annual growth rate (CAGR) of 6.5% from 2022 to 2027. This growth is being driven by a number of factors, including the increasing disposable incomes of Malaysians, the growing popularity of online shopping, and the increasing awareness of the importance of personal care.
The regulatory environment in Malaysia is relatively favorable for cosmetics companies. The Malaysian government has a number of policies in place to promote the growth of the cosmetics industry, such as tax breaks and incentives for research and development. The regulatory requirements for cosmetics in Malaysia are also relatively straightforward, making it easier for companies to enter the market.
The cost of doing business in Malaysia is relatively low. The cost of labor, rent, and other business expenses in Malaysia is lower than in many other countries. This can help companies to reduce their costs and increase their profits.
Malaysia is a strategic location for exporting cosmetics to other countries in Southeast Asia. Malaysia is well-connected to other countries in the region, making it easy to export cosmetics to these markets. The government of Malaysia also has a number of programs in place to help companies export their products.
If you are considering registering a cosmetic company in Malaysia, there are a few things you need to do. First, you need to obtain a business license from the local authorities. You also need to register your company with the National Pharmaceutical Regulatory Agency (NPRA). Once you have obtained the necessary licenses and registrations, you can start importing, manufacturing, and selling cosmetics in Malaysia.
Here are some of the benefits of registering a cosmetic company in Malaysia:
Access to a growing market. The Malaysian cosmetics market is growing rapidly, and there is a large and growing middle class with disposable income to spend on cosmetics.
Favorable regulatory environment. The regulatory environment for cosmetics in Malaysia is relatively favorable, making it easier for companies to enter the market.
Low cost of doing business. The cost of doing business in Malaysia is relatively low, which can help companies to reduce their costs and increase their profits.
Strategic location for exporting. Malaysia is a strategic location for exporting cosmetics to other countries in Southeast Asia.
Registering a Cosmetic Company in Malaysia
Here are the steps on how to register a cosmetic company in Malaysia:
Set up a locally incorporated company. This is a requirement for registering a cosmetic product in Malaysia. The company must be incorporated under the Companies Act 2016 and have a valid Certificate of Incorporation.
Register for a Quest membership. This is an online system that allows you to submit notifications for cosmetic products to the NPRA. The membership fee is RM260 for a one-year membership, RM335 for a two-year membership, or RM410 for a three-year membership.
Complete the notification form. The notification form must be completed in English and must include the following information:
The name and address of the company
The name and description of the cosmetic product
The ingredients of the cosmetic product
The intended use of the cosmetic product
The manufacturing process of the cosmetic product
4. Pay the notification fee. The notification fee is RM50 for each cosmetic product.
5. Submit the notification form and fee. The notification form and fee can be submitted online through the Quest system.
6. Wait for the notification to be processed. The processing time for a cosmetic notification is typically 30 working days.
7. Receive the notification note. If the cosmetic product is approved, you will receive a notification note from the NPRA.
Once you have received the notification note, you can start manufacturing, selling, or importing the cosmetic product in Malaysia.
Here are some additional things to keep in mind when registering a cosmetic company in Malaysia:
The cosmetic product must comply with the guidelines set by the NPRA.
The cosmetic product must be labeled in English and Malay.
The cosmetic product must be manufactured in a facility that is registered with the NPRA.
Connect with Us
Bestar can help you with the following steps when registering a cosmetic company in Malaysia:
Company Name Search: Bestar will conduct a company name search with the Companies Commission of Malaysia (CCM) to ensure that the name you have chosen is available and complies with all naming regulations.
Preparation of Documents: Bestar will prepare all the necessary documents for your company registration, including the Form 49 (Application for Registration of a New Company), the statutory declaration, and the company's constitution.
Submission of Documents: Bestar will submit all the required documents to the CCM on your behalf.
Collection of Certificate of Incorporation: Once your company has been successfully registered, Bestar will collect the Certificate of Incorporation from the CCM and deliver it to you.
In addition to these services, Bestar can also provide you with advice on the following:
The different types of business licenses that are required for cosmetic companies in Malaysia
The labeling requirements for cosmetic products in Malaysia
The compliance requirements for cosmetic companies in Malaysia
Bestar is a leading provider of business registration services in Malaysia. We have a team of experienced professionals who can help you with all aspects of registering your cosmetic company in Malaysia.
If you are considering registering a cosmetic company in Malaysia, contact our business consultant to discuss your specific needs. We can help you to understand the regulatory requirements and to obtain the necessary licenses and registrations.