Set Up a Business for Repair and Maintenance of Ships, Boats
Updated on Wednesday 31st December 1969
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Malaysia is a country with significant shipping activities and where maritime trading is an important contributor to the economy. The country has a total of seven large federal ports and, with a steady evolution of commercial shipping, investors can find different opportunities for providing services related to the maintenance of the ships transiting through the Klang, Penang and other ports.
Our team of company formation lawyers in Malaysia can help investors set up a business for the repair and maintenance of ships and boats. Offering marine and ship repair services entail targeting a specific niche of clients and also setting up the business by taking into consideration the nature of the work and as conveniently as possible to allow for the docking and dry docking of ships and boats. Our team of attorneys can help you set up a business in the shortest amount of time possible and by observing all of the relevant rules and regulations.
Foreign companies can enter this business field with the help of our attorneys in Malaysia. We can advise on the local procedures for setting up a company and can provide complete legal counseling services related to taxation, employment and other issues that will arise during the course of doing business in Malaysia.
Ship repair and maintenance services in Malaysia
Companies that offer services for the repair and maintenance of ships and boats offer highly-specialized assistance and employ professional and experienced workers. The customer base for these types of companies can be a diverse one that includes cruise line companies, shipping companies based in Malaysia, sea towing companies as well as individuals who are in need of repair services for their personal boats and yachts. Some ship repair companies will also provide repurposing services for old ships and, in some cases, custom fabrication services.
Some of the common types of services offered by ship repair and maintenance companies in Malaysia include the following:
- Shipyard services: drydocking for the purpose of performing propeller and steering mechanism repair work along with shaft inspections and repairs;
- Steelwork: repairing damaged hulls, hatch covers, structural steel plates along with different other steel works;
- Engineering services: mechanical engineering services referring to pumps and fuel injector repair and maintenance, main engine works, air heaters, engine coolers repair and many others.
- Piping works: services related to the repair of pipes, pipe installation, pressure testing for valves, hydraulic pressure system testing, etc.
Ship repair and maintenance companies in Malaysia can distinguish themselves by offering cost-effective and quality services. Building the client base is as important as having an experienced team as well as the equipment and the conditions to handle the repair of several types of vessels.
Our team of company formation lawyers in Malaysia can give you information on the standard company set up costs that you can take into consideration, along with the specialized ones needed to start this type of business.
Company formation lawyers in Malaysia
Working with a team of company formation lawyers in Malaysia is recommended to both local and foreign investors. Our agents can assist you from the early stages of company incorporation that include choosing the type of legal entity and checking the availability of the business name. Furthermore, we can provide complete assistance for drafting the Articles of Association for the new legal entity involved in the ship repair business.
Our quick guide on company incorporation in Malaysia includes the following steps:
- choosing the type of company and the business name: remember that the name needs to be a unique one and you should be prepared with several ideas.
- prepare the documents: this is the stage during which the company’s effective incorporation documents are drafted.
- submit the registration request: the Articles of Association, together with the relevant application forms and proof of payment for the fees are submitted to the SSM.
- receive the certificate: the SSM issues the company’s Certificate of Incorporation and once this is obtained, the ship repair company can start its activities; registration with the Tax Authorities will also be needed.
Opening a company in Malaysia is not a complicated process, however, foreign investors may be discouraged by the foreign language and the fact that they will need to make specific submissions to the authorities, especially in selected and more regulated business fields.
By working with our company incorporation attorneys in Malaysia when opening a business for the repair of ships and boats, you can be sure that the process runs smoothly and is compliant with the laws in force.
Our law firm in Malaysia offers complete services for the set up of a business and also legal representation and counseling. Contact us for more information about how we can assist you.