Malaysia is one of ASEAN (Association of Southeast Asian Nations) members. Malaysia is a prosperous market with stable political, economic and trade environment, advanced infrastructure, medical equipment and educational facilities, high living of standard, low unemployment and low cost of living. Therefore, today, Malaysia has become the investment platform for international investors to develop ASEAN markets.
Types of Malaysia companies:-
|a) Private Limited Company (SDN BHD)||e) Companies Limited by Guarantee|
|b) Offshore Company (Labuan)||f) Partnership|
|c) Sole Proprietorship||g) Limited Liability Partnership|
|d) Public Limited Company (BHD)||h) Foreign Companies|
There must be at least two shareholders and two local directors aged above 18 years old and one local secretary. The shareholders are not restricted to the nationality and can be appointed as the directors at the same time. The local director must be a Malaysian or foreigner who holds a Malaysia visa for 182 days.
A private limited company in Malaysia must have a minimum authorized capital and paid-up capital of RM100, 000 and RM2 respectively. Paid-up capital may differ with the scope of business, therefore entrepreneurs can place the paid-up capital in phases based on actual operating conditions.
Malaysia Company Name
Malaysia company name can be registered in either English or Malay, usually ends with “SDN. BHD”. SDN is the abbreviation for Sendirian, meaning private whereas BHD is the abbreviation for Berhad, meaning limited. SDN. BHD refers to “Private Limited” whereas Berhad generally refers to “Public Limited Company”. In Malaysia, companies are generally registered in the form of enterprise, partnership or private limited company. Private limited company is the most common form among all, for instance, TANNET (MALAYSIA) SDN. BHD.
Documents Required for Malaysia Company Formation
English name of the Malaysia Company, personal data of all the shareholders and directors (Identification card or passport and address), authorized capital and the shares allocation, articles of association, purpose of company formation and main projects. (All documents must be translated in English or Malay)
Filling the application form → sign an agreement → payment → company name search → signing of documents in Malaysia → complete the procedure at government departments → receive full set company information → company bank account opening
When the required documents are ready, it would take approximately 20 working days to complete the registration procedures for the Malaysia Company. If the applicant comes over to Malaysia to complete the registration procedure, it would take 7 working days.
Company Information Set
a) One set of certificates
b) One company seal,
c) Three set of company rules & regulations
d) One set of power of attorney for shareholders & directors
Bank Account Opening
Company bank account can be opening after the completion of company registration. Malaysia private limited company can open a bank account at certain banks, for examples, OCBC Bank and ICBC Bank. TANNET can arrange bank account opening includes recommend bank account, documents preparation, preparing meeting report and application letter for arranging introducer and follows-up services.
Annual Filling Requirements
Every company must update the company details and submit annual tax filing to the government before the deadline. All Malaysia Company which includes dormant company must prepare the company account. TANNET can provide our clients with accounting and tax services and charge accordingly.
We have more services than the above mentioned such as Hong Kong Company Formation, Offshore Company Formation and China Company Formation, MM2H and Virtual Office, etc.
Please do not hesitate to contact TANNET at 603 2141-8908 or email to email@example.com should require any assistance.