Malaysia Wholesale Retail Trade License (WRT)
Tetra Consultants assists our international clients to secure Malaysia Wholesale Retail Trade License (WRT). The license is required by companies which intend to conduct distributive trade services in Malaysia. The license is approved by Ministry of Domestic Trade, Cooperatives and Consumerism (MDTCC). According to the government, distributive trade is defined as all linkage activities that channel goods and services down the supply chain for resale or to final buyers. It does not really matter the form of linkages that your business is carrying out. Physical process, electronic transactions or in person are all considered as distributive trade.
The purpose of the WRT license is to ensure that there is a fair development in the industry. By regulating foreign companies in the distributive trade sector in Malaysia, local businesses will be given the opportunity and environment to grow. To remain competitive in Malaysia, the local companies will be encouraged to become more efficient and productive with technology and resources.
Reasons for the introduction of Malaysia Wholesale Retail Trade License (WRT)
- To regulate foreign participation in the distributive trade sector
- To ensure development is fair in the industry and to increase local business development;
- To encourage modernization and increase efficiency in the distribution trade sector;
- To be a pre-condition requirement by the local authorities to issue the business license.
Categories of distributive trades
In Malaysia, there are 4 main forms of distributive trades:
- Retail, Import & Export, Distributive Trade
- Services & Consultancy
Requirements of Wholesale Retail Trade License
- 2 shareholders of any nationality
- 1 local Malaysian director
- Local company secretary and registered office address
- Paid up capital of at least RM1,000,000
Tetra Consultants has over 10 years of experience in securing Malaysia Wholesale Retail Trade License (WRT). After successfully registering the company, our team will secure a local physical office space or warehouse according to our international clients’ business activities.
At the same time, Tetra Consultants will prepare a comprehensive business plan including information such as customers, suppliers, volumes of transactions and expected financial projections for the next three years. Once the above is completed, Tetra Consultants will submit the application and it will take approximately 3 months to be approved.
What are the documents required for a wholesale-retail trade license?
- A completed Form WRT 1 application form;
- Company Profile or Business Plan;
- A copy of Section 58 form, i.e. a form for the notification of a change in the register of directors, managers, and secretaries;
- A stamped copy of Section 32A form, if there is any change in directors or a transfer of shares;
- A copy of registration confirmation letter from the Inland Revenue Board of Malaysia (IRB)/Lembaga Hasil Dalam Negeri (LHDN).
Non-mandatory documents (Unless applicable):
- A copy of relevant and valid license(s) issued by the local authority;
- A stamped copy of the tenancy agreement or sale and purchase agreement of the business premise;
- Copies of audited financial statements for the latest five (5) consecutive years;
- A copy of license(s) or approval letter(s) issued by any ministry, agency or department related to the business;
- A copy of the customs clearance document, bill of lading, airway bill, delivery orders, purchase orders, or sales invoices for the latest 3 months.
Contact us to find out more about how to set up business in Malaysia. Our team of experts will revert within the next 24 hours.