Registering a private limited company (sdn bhd) in Malaysia requires you to undergo proper incorporation procedures in order to have a hassle-free process. It would be best to engage the services of a company secretary to initialize and complete the entire process so that your business is registered in accordance with the regulatory requirements.
What Are the Statutory Requirements?
The following are the necessary documents you need to provide through your company secretary:
- New company name
- New details of the company’s business transactions and activities
- Passport for foreigners or Identity Card for Malaysian residents. You need these from two shareholders and another one from your company directors.
- Shareholding structure
- Residential addresses of all shareholders and directors of the company
The company secretary will then submit Form 13A or the Company Name Search Application Form. The form will be submitted to Suruhanjaya Syarikat Malaysia (also known as SSM) and will be subject to approval, particularly for the usage of the new company name. Once the new company name is approved, the company secretary will then prepare to process the rest of the registration documents.
To-Do List for Registration Completion
Company owners must sign the registration documents that have been prepared by the company secretary. A full payment is required before the secretary could proceed to arrange the Form 48A, which the Commissioners for Oath must attest to. The form is then stamped with the Memorandum & Articles of Association which takes place in the Stamping Office of the Inland Revenue Board.
In order to complete the registration, the secretary processes the Form 48A for the shareholders and directors declaration, Form 6 for the declaration of the company secretary and the Memorandum & Articles of Association (M&A). There is also a need to submit passports and identity cards, and a RM1,000 bank draft which is payable to SSM. The initial paid up capital of the new company is a minimum of RM1 for each shareholder, and this paid up capital can be increased by the shareholders from time to time.
A limited company in the Malaysian jurisdiction is required under the Companies Act 1965 to have at least one appointed corporate secretary. Moreover, the secretary of the company should be a licensed person under SSM Malaysia or a duly certified member of a professional organization or body.
The process of registering your company can be tedious but this is the initial step to establish a business in Malaysia with all its promising lucrative returns. You can go through the tiring process on your own or you can hire the services at Accounting Services Hub for a hassle-free option. The proper registration of a company in Malaysia also calls for the services of an expert and professional accounting services firm.
Why the Need to Hire a Professional Firm?
The incorporation process for an sdn bhd company is quite complicated and demanding. There are numerous requirements you need to comply with and heaps of documents to submit. Although the company secretary is assigned to do the registration for the company, it makes a lot of difference if you can consult with the experienced experts in the field such as Accounting Services Hub. You will have the company registration processed in a timely and hassle-free manner to save you the time and worries. Whether you want to start up a sole proprietorship or a private limited company in Malaysia, the assistance of a trusted and reputable accounting firm is undeniably priceless. Contact us now for more information about the registration of a company in Malaysia.
