CIDB – Construction Industry Development Board
An acronym for the Construction Industry Development Board, the CIDB business license is an integral component of businesses in the construction industry. A CIDB license ensures the construction industry’s commitment to quality and productivity through professionalism, continuous innovation, and extensive knowledge.
At Ally Management Services, we are committed to providing the most reliable business & company services in Malaysia. In the CIDB business license application process, we provide full assistance for any construction company in Malaysia in documents preparation, paid-up capital documentation, CTC, local engineers recruitment, legal corporate advisory, etc., in compliance with the latest amended authority law.
Requirements for Construction Companies in Malaysia
To register for a business license with the CIDB, here are several registration criteria that construction firms are required to meet:
- Registration with the Companies Commission of Malaysia (SSM)
- The firm and/or its technical personnel must have years of experience relevant to the industry
- All main contracts or nominated subcontracts are executed
- Subcontracts that are executed by the applicants must be supported by evidence
- For applicants registered with the Registrar of Companies (ROC), financial capacity will be evaluated on the paid-up capital of their companies.
- For applicants (sole proprietorship or partnership) registered with the Registrar of Business (ROB), financial capacity will be evaluated in terms of net capital worth, which can be derived from one or all of the following:
- Copies of bank statement of current account for the latest 3 months
- Copy of current balance from savings accounts
- Copy of uncharged and valid fixed deposit statements
- Bank certification related to overdraft facilities, if relevant
- ASB Shares
- Full-time personnel must undertake the work that is in line with the registration grade and category as registered, with recognised qualifications and relevant EPF contribution statement
If you have yet to establish a construction firm, please do not hesitate to reach out to us for our guided steps to set up a construction company in Malaysia.
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