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Guide To Setup Business in Malaysia

How Can A Company Be Registered In Malaysia?

What conditions must be met before forming a business in Malaysia? What kinds of paperwork are required to register a Malaysian company? The following are some fundamental details and helpful information for establishing and creating a liability company (Sdn Bhd) in Malaysia:

Suruhanjaya Syarikat Malaysia ( SSM, Companies Commission Malaysia )

The Companies Commission of Malaysia (SSM), which was founded on 16 April 2002, acts as a government body for registering businesses and incorporating companies in Malaysia.

A minimum paid-up capital of RM1 is required to form a limited company in Malaysia.

What paperwork is required to establish a business in Malaysia?

A copy of your identity card (IC) or passport (for foreign director)

Director requirements

Every corporation needs a minimum of one director who is a Malaysian citizen and at least 18 years old.

He or she is not bankrupt and has not spent the previous five years in prison as a result of a violation.

Shareholder requirements

A shareholder who is at least 18 years old is required for every company.

Criteria for a company secretary

A firm must have a minimum of one company secretary, who must belong to one of the recognised professional associations or hold an SSM licence.

Requirements for a registered office

Every corporation is required to have a registered office in Malaysia where all communication and notices can be addressed.

The secretarial office serving as the company’s registered office is common in Malaysia.

Finance and Accounting

In Malaysia, every business must annually prepare its financial records and submit them for approval and audit.

A company must appoint one or more authorized auditors in Malaysia.

The audited financial statements must be presented for approval by the company’s shareholders at the Annual.

It is necessary to file this audited account with SSM.

Submission of an audited account

A company must file the audited account with SSM within six months of the accounting year’s end, and within 18 months of establishment for newly registered companies.

Annual Returns

Annual Returns must be filed by all new businesses on or before the anniversary of their formation.

A company’s annual report provides a general overview of its directors, secretary, registered office, shareholders, share capital, main business activities, etc.

Why should you register your online business with SSM?

The company will register as a legal entity.

It will increase your customer’s trust.

Additionally, it makes it easier for consumers to validate business data.

The government will be able to support any growth of the business community and prospects thanks to the submitted company information.

Only companies that have been legally registered may apply for Malaysia Payment Gateway.

Here are a few other conditions and guidelines:

New business registration is only valid for a year and does not exceed  five years on each registration.

Owners must seek licences, permits, or approval letters from relevant authorities in order to conduct their business, even if it is registered with SSM.

Anyone who does business without registering is doing so in violation of ROBA 1956. If proven guilty, they face a maximum fine of RM50,000, a maximum sentence of two years in prison, or both.

If you have any queries, please feel free to contact us. Let us assist you in registering your Malaysian business

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