The process of registering an LLP (The Limited Liability Partnership) is much simpler than for Sdn Bhd. The following is a list of things you should bring to the registration:
Prepare your full personal details (as requested during registration), of two or more partners that are required for the registration process.
Before registering, give your LLP a name (the formal name will end with PLT), and make sure it is available.
Set up the LLP’s registered office.
The name and information of the LLP’s authorized compliance officer(s).
If the LLP( Limited Liability Partnerships) is formed for professional practices such as accountants, a permission letter from their respective governing bodies will also be required.
Among other things, LLPs have the flexibility of internal business management through partnership arrangements similar to conventional partnerships.
The LLP also provides flexibility in terms of its formation, maintenance, and termination and, at the same time, possesses the appeal and dynamics needed to compete both locally and globally. Entrepreneurs will have more options to select their preferred type of business vehicle with the introduction of LLP.
Before you may establish an LLP in Malaysia, you must choose at least one Compliance Officer from among the partners who is a Malaysian citizen or permanent resident, an undischarged bankrupt, not disqualified to act as a director under the Companies Act 2016, and who usually resides in Malaysia.
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