Understand the Jurisdictions Setup Requirement Before Proceed Your Company Registration in Malaysia
Your first step to starting a business in one for the leading Asian economies, Malaysia is to register a company in the nation. Relatively an easier process, still there might be some complexities during the registration of business in the country. We understand how perplexing it might be for people, especially foreigners and the first-timers to go through the company registration in Malaysia. So, to help with that, we at 3ECPA Accounting provide Malaysia company registration services in the easiest way possible. All you need to do is know some rule assessments of company registration in Malaysia and give us a call. Then we will do the job for you as you sit back, as easy as 1,2,3.
The first thing you need to do to open a company in Malaysia is to review your business idea. Some businesses are only exclusive to Malaysians. Be careful, as a foreigner, you might not be able to dwell in the niche of your choice. Thus, you might consider researching if you are allowed to implement your business idea in Malaysia.
Business Types in Malaysia
Among the three business types, Sole Proprietorship, Partnership and Sdn Bhd (limited company), foreigners only have the third choice. So, no matter how big or small your business is, as a foreigner, you need to go with an Sdn Bhd. An FAQ for more, yes, even if you want to start a small business in Malaysia as a foreigner, your only choice is Sdn Bhd.
Other things to know about company registration in Malaysia are:
You should come up with at least three names for your company, and one of then will be approved. Remember that the name of your company can’t be the same as the existing ones in the country.
Shareholders And Directors
Depending on the structure of shareholding, you need at least one shareholder and one director for your Malaysia company. Remember that both, the director and shareholder must be at least 18 years old. They must have good moral character and can’t be bankrupt. Also, note that you must have at least one resident director living in Malaysia.
Malaysian companies are needed to hire a secretary. The rule is very specific in this case. The secretary must be licensed by the SSM or be recognized by the government.
The minimum paid-up capital for foreigners registering a company in Malaysia is RM 500,000. Also, every Sdn Bhd company must pay RM 1,000 to the SSM annually.
Your company also needs to have a registered address, and it must be a physical address. PO Box Numbers are not allowed as registered addresses.
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About the documents required for company registration in Malaysia, you basically need all the paperwork which prove that you fulfil the above requirements. This includes a business application, showing you have the necessary resources, the director and shareholder particulars, etc. Depending on whether you want to stay in Malaysia or run your business from your home country, you might also need to produce copies of password or other permits. Contact 3E Accounting for more.
The Suruhanjaya Syarikat Malaysia (SSM) regulates the process of company registration in Malaysia. You need to hire someone locally to complete the registration process, and 3E Accounting teams help you with it.