Hi, Serious /k,

I would appreciate if anyone can help me to figure out how much does it take to maintain a self proprietorship in Malaysia? Would I need to hire people for bookkeeping / audit / tax or will it be sufficient for me to do everything myself?

A little bit of background:

I never have an experience opening up my own business, so I need some feedback on this matter whether or not just to maintain solo freelancing or to set up a company in order to be able to receive jobs from more sources. You see, currently, as a side hustle, I'm offering a quantitative data analysis services especially for those who wish to publish their academic papers in journals. At the same time, I am also adept at doing projection analysis especially with regards to finance and stocks management. However, recently a client asked me if I can set up a company instead to ensure transparency and reflects professionalism. Should I go through the hassle of setting up a company and to pay whatever necessary to keep it afloat?

Thanks a million.

This post has been edited by dagnarus: Dec 26 2019, 06:32 PM

Thank you. I was also told that audit is not necessary and tax will be under personal. So it's just SSM + Bank account which should be a little bit less than rm100 per annum.

She told me anything goes, self prop is just fine.

If you have experience writing quantitative articles for academic journals then you should be set to go. having a strong background in statistics is obviously a huge plus.