Company registration in Malaysia is a very simple and easy process. One can incorporate a company in Malaysia with 100% foreign ownership. The company is known as Sendirian Berhad. Although the government has listed only few specific industries for the company to work under complete foreign ownership.
A foreigner can start business in Malaysia by either merging with a local company or by registering the foreign company in Malaysia with Companies Commission of Malaysia.
As per the Malaysia laws, only two types of Companies can incorporate in Malaysia.
Some are the factors which make Malaysia the leading destination in the world for business owners are mentioned below.
Subscribers and Directors - A minimum of 2 subscribers and directors are mandatorily required for registering a company in Malaysia.
Company Secretary - A company needs to appoint a company secretary who is a member of the professional body by the Minister of Domestic Trade Cooperative and Consumerism and should be licensed by the Companies Commission of Malaysia (SSM).
Principal place of residence - The proposed director and company secretary in a Malaysian company shall have their principal or only place of residence within Malaysia.
1. Application for name of the company - Select a proper name for the company and then check its availability. To check the availability of company name one needs to refer to Government Gazette, which gives the guidelines regarding the name and application of a company name.
2.MoA and AoA have to be submitted to SSM. The Inland Revenue Board affixes the official stamp. The MoA & AoA should have details of directors and secretaries. The subscribers of the company’s shares are also required to sign the MoA & AoA in the presence of a witness.
3. The director or promoter have to submit a declaration stating the he/she is not bankrupt and has no criminal record.
4. The Company secretary should sign the Declaration of Compliance stating that all the requirements of the Companies Act have been adhered to.
5.Identity proof of directors.
6. Company name approval letter from SSM.
After compliance with the procedure and submission of the duly completed Documents with the prescribed fee the SSM issues a Certificate of Corporation. The company shall get the permit from the concerned authority before starting the business activity mentioned in MoA.
Note:All the documents need to be either in Malay or English Language.
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