When registering a company in Malaysia, you will need to meet specific legal requirements. Read on to learn more!
Before you start registering a company in Malaysia, it is necessary to know about SSM. The SSM is the Suruhanjaya Syarikat Malaysia, a Malaysian body responsible for registering companies, established in April 2002. In this article, you’ll learn the process of registering your company in Malaysia in detail.
Registering a Company Online
Registering a company online is only processed through EzBiz, a Malaysian company registration portal offered by SSM is necessary for starting an online registration process.
To begin, you create an EzBiz account. Then, you visit the SSM Office to activate your account. Once done, follow the process outlined below to register your company.
- Login to your activated EzBiz account
- Select New Business Registration
- Fill in the necessary details like name, your personal information, business address, etc.
- Go to business code and fill the code
- Under the owners’ tab, input your personal information
- Finally, pay the registration fee under fees and declaration
Registering Your Business Offline
Under the offline company registration in Malaysia method, you need to submit three company names and out of which only one will be approved. Below are some required steps to complete to register your company offline:
- Check company name availability
- Fill and submit form-PNA 42 and Form A
- Visit the SSM office with your identity proof and submit the above-listed documents
The Costs of Registering a Company in Malaysia
According to the new 2016 Malaysian Companies Act, a business owner wishing to register their company must pay RM 1000 to SSM. This fee is charged per application submitted.
The below list showcases the fees charged for registering a company through both online and offline methods:
- A fee of RM 30 is changed for using a personal name in Sole Proprietorship
- A fee of RM 60 is changed for using a trading name in Sole Proprietorship or Partnership
- A fee of RM 5 is changed for registering each brach
- A fee of RM 10 is changed to print out the business information
Check If a Company Name Is Registered in Malaysia
You can find out whether a company name is registered in Malaysia by using the SSM online system to search for its name. If you find that a company has a similar name or has minor differences, you can avoid registering it.
How to Start Registering Your Company in Malaysia
To register the company, the director and shareholders’ signatures are needed and submitted to the SSM to start the registration process. This process usually takes 5 to 10 days after the document submission.
Know All About Sendirian Berhad
Sendirian Berhad or Sdn Bhd is a Private Limited company. It is a legal entity that is limited by its shares and is registered as a private entity.
Every business registered as Private limited is required to add the words Sdn Bhd at the end of the company’s name. This is the most popular and common form of a Malaysian business entity.
Sdn Bhd Company Registration Requirements
- Section 14 CA of the Malaysian company act states that every Shd Bhd entity must have at least one subscriber to its shares
- Appoint at least one director to the firm
- It’s obligatory to appoint a company secretary
What Is Berhad And How to Register As Bhd
Berhad or Bhd is a type of company that is registered as a public limited and can offer shares to the public. Generally, this type of company registration is for large businesses.
How Can a Foreign Company Register a Company in Malaysia
Foreign companies are registered in Malaysia if they are incorporated outside Malaysia. There are two methods for foreign companies to register their company in Malaysia:
- Complete the new local company’s SSM registration process
- Process SSM registration of the Foreign company
In order to register a foreign company in Malaysia, you can either get registered through the SSM or by incorporating a local company with this corporation.
To register a company in Malaysia, it is essential to follow the following steps:
- Explain the type of business that you’re incorporating.
- Share the names and other necessary information on directors and shareholders
- Check for company name availability
- Share the relevant documents on the company name, shareholders, and directors in charge
- Finally, apply for company registration
Set up a Registered Office
Malaysian companies must have a registered office in order to operate in the country. However, some Malaysian companies can save money by making their registered office secretarial office. The company only needs to register its name and send copies of its documents to the secretarial office for records.
Obtain Registration Certificate
If you register your company with SSM, it will issue you a certificate. This document proves that the company is registered with SSM. However, if the documents requested in the registration application are not attached, a certificate won’t be issued.
Conclusion
Here is the necessary process and fees involved in starting a business in Malaysia. To complete a company registration, the Malay governing committee accepts both online and offline submissions.
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