Irrespective of the type of business you want to start in Malaysia, you first need to register your company in Malaysia. To assist you in this regard, we have compiled a comprehensive guide about registering a company in Malaysia.
Over the last decade or so, Malaysia has seen a positive growth in terms of its economy. This suggests that Malaysia has surged as one of the most suitable countries to invest in. If you have plans to start a business in Malaysia, you have landed on the right page.
In this new guide, you will know
What is SSM Malaysia?
Online method of registration
Offline method of registration
How much does it cost to register a company in Malaysia?
How can I check if a company is registered in Malaysia?
How long does it take to register a company in Malaysia?
How foreigners can register a company in Malaysia?
What documents are needed to register a company in Malaysia?
So, let’s get started.
What is SSM Malaysia?
The SSM is an abbreviation for the term Suruhanjaya Syarikat Malaysia, which means the Companies Commission of Malaysia. This organization was established on 16 April 2002. It serves as a governing body, which is responsible for registering companies in Malaysia.
Online Method of Registration
Prior to starting an online registration process, you need to understand some essential aspects associated with the EzBiz portal. It’s an online business Malaysia registration portal offered by Suruhanjaya Syarikat Malaysia (SSM).
First, you need to create a user account on Ezbiz. After that, you have to visit the SSM office to obtain the one-time activation of the account. Once your Ezbiz account is active, just follow the following procedure to complete the online registration of your company.
- Log in to your Ezbiz account (Click to this link: ezbiz.ssm.com.my).
- Go to the “My Business Service” tab and then select “New Business Registration”.
- The first section requires your personal information including Name, Ref No., Business Name, Business Address, Business Start Date, and Registration Period.
- The second section relates to the branches of your business. Don’t fill this part if you are not planning to open a branch of your main business.
- Next, go to the “Business Code” section and fill in the business code depending on the provided reference table.
- Within the “Owners” tab, provide your personal information.
- “Fees and Declaration” is the last section that requires you to pay the registration fee via credit card or online banking.
Offline Method of Registration
In order to register a business in Malaysia via the offline method, you need to provide three proposed business names for your company. Out of these, only one name would be approved for the business.
Some essential steps required for offline registration include:
- Check for the availability of company name
- Apply for the Form-PNA 42 and Form-A
- Visit the main office of the SSM with your identity card and the above-mentioned forms
Now let’s see how much cost you will require to register a new business in this great Asian country.
How much Does it Cost to Register a Company in Malaysia?
According to the new Companies Act 2016, a person who wants company registration in Malaysia should pay RM 1000 to SSM. The fee is charged for each application filed by a business owner.
The fee charged by SSM is given below, which applies to both online and offline registration procedures.
How Can I Check if a Company is Registered in Malaysia?
It is possible to check whether a company is registered in Malaysia by searching its name through the SSM online system. Moreover, it will also allow you to avoid registering a company name that is already existing with some minor differences.
How long Does it Take to Register a Company in Malaysia?
Usually, the whole registration process takes 5 to 10 days. The procedure starts after the director and shareholder sign the registration documents and submit them to the SSM.
However, the timeline for the incorporation process depends on the accuracy of the information provided in the forms and provision of the relevant documents.
What is Sendirian Berhad (Sdn Bhd)?
A Sdn Bhd in Malay refers to a Private Limited company. This kind of company is a legal entity. The liability of a Sdn Bhd is limited by shares. Such a company is registered as a private company.
The words Sdn Bhd are located at the end of a company name. Sdn Bhd is a common and more popular type of business entity in Malaysia.
The requirements for registering Sdn Bhd company are discussed below:
- According to Section 14 CA, a company must have at least one subscriber to its shares
- Section 122 requires the appointment of at least one director
- Appointment of a company secretary is also obligatory
What is Berhad (Bhd)?
The term Berhad (Bhd) refers to a Public Limited company. This type of company can offer its shares to the public. Generally, this particular business entity is preferred by large businesses.
How Foreigners can Register a Company in Malaysia?
In the words of the Companies Act 1965, a foreign company is one that is incorporated outside Malaysia. There are two methods of company registration in Malaysia for foreigners.
- Register a new local company with the SSM
- Register the foreign company with the SSM
Registering a foreign company in Malaysia is done either through registration of such a company with SSM/ Company Commission of Malaysia or incorporating a local company with this organization.
It isn’t an easy task for foreigners to register their company in Malaysia. Below are some of the most essential steps to follow:
- As a foreign business owner, you need to explain what type of business you are going to start in Malaysia
- Provide the names and other relevant information of the directors and shareholders
- Decide about three proposed names of the company and check each of them for availability
- Prepare the required documents showing the information like the company name, directors, and shareholders
- Apply for the incorporation/registration to the Malaysian government (SSMs)
- Obtain the Registration Certificate
What Documents are Needed to Register a Company in Malaysia?
For company registration in Malaysia, you are required to attach the following documents with your application.
- A certified copy of the certificate of incorporation
- The foreign company owner needs to provide a certified copy such company’s registration
- Must provide a certified copy of the charter as well as ‘Memorandum and Articles of Association’ of a foreign company
- Original copy of Form 13A
- Form 79 and Form 80
- A copy of the document showing company name Approval by SSM
- Power of attorney or memorandum of appointment
- A certified translated copy of any document that is in a language other than English or Malay
Who Can be a Shareholder or Director
In order to register a company in Malaysia, it is essential to designate at least 1 director. The requirements of the director are as under:
- Must be at least 18-years of age
- Must be a resident of Malaysia
- Not convicted or imprisonment for last 5-years
- Shouldn’t be bankrupt
Talking about the shareholder, each company in Malaysia requires 1 shareholder for its registration. The requirements for a shareholder are more or less similar to those associated with the appointment of a director.
Requirements for Company Secretary in Malaysia
Every registered company in Malaysia must have a secretary (at least one). A person can serve as a company secretary in the following circumstances.
- An individual licensed by the SSM
- A qualified ICS member
A company can only operate in Malaysia if it has a registered office in the country. This office would serve as a formal place to send notices and other essential documents. However, the company can save some amount by declaring its secretarial office as the registered office.
Certificate of Registration
Once the registration procedure is complete, SSM will issue a certificate of registration. This document is a proof that the company is registered with SSM or the Companies Commission of Malaysia. However, if the required documents aren’t attached to the registration application, SSM won’t issue such a certificate.
This is all about company registration in Malaysia. If you need more help, you can contact us anytime.