Register Your Online Business or Face the Music

Register Your Online Business or Face the Music

by Chapree

Tuesday, 20 July 2010 11:03 PM

One of the most important steps in establishing a business - as required by law – is getting it registered with the Companies Commission of Malaysia (CCM). However, some might have thought that this particular requirement does not include online businesses due to their simplicity and low cost nature. Hate to burst the bubble, but it is actually does not matter where you run your business, you still have to get your outfit registered…even it is based online. For the past two years alone, around four hundred online businessmen have been brought into court for not registering their business with CCM, according to Datuk Rohani Abdul Karim, the Deputy Minister of Domestic Trade, Cooperative and Consumerism. The offence might look puny but in reality, it is so serious that it is punishable by up to RM 50,000 in fine or no more than two years in prison. So once again, if you are running your business online, get it legally registered with CCM now if you haven’t done so. [Source: New Straits Times. Image of gavel: walknboston, used under Creative Commons license.]