Now that your application has been approved by the Ministry of Commerce, the General Department of Taxation and the Ministry of Labour and Vocational Training, there are a few more steps you need to know to complete your registration.
- Create and submit company bank account via the system
For you to have a properly-setup company, you are required to have a company’s bank account. Your personal bank account that has been renamed to the company name is not counted as a company bank account. Each bank has its own policy and criteria, so contacting the bank whose service you would like to use and ask for the details and required documents could be helpful.
Upon the completion of the opening of your company account, you are obliged to update your bank account details into the Online Business Registration Platform within 15 working days after the approval date of the General Department of Taxation on your application.
- Request for specialized license
Some business activities are required to have separate specialized license, so that the company’s qualification specifically on the selected business activity can be properly evaluated. Requesting for specialized license means you have to go through inspections and procedures to ensure that your business is operating according to government’s rules and standard. For example, if you run a hotel with a restaurant inside, you will be required to apply for the specialized license for hotels and the specialized license for restaurants – both of which can be obtained from the Ministry of Tourism.
Some key specialized licenses from the Ministry of Tourism, Ministry of Industry, Science, Technology and Innovation, Ministry of Post and Telecommunications and Real Estate and Pawnshop Regulator, are included in the Online Business Registration Platform where you can apply, pay and track your application status online.