Malaysia Company De-registration

Malaysia Company De-registration

The Malaysian Companies Act empowers the Registrar to de-register a defunct company if he has reasonable cause to believe that the company is no longer carrying on business or in operation.

 

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There are a few requirements to be fulfilled before Malaysia Company De-registration:

  1. The directors must obtain the resolution of the shareholders for the initiation of the application to strike off the name of the company from the register on the basis that the company is not carrying on business or the company is not in operation
  2. The company has no assets and liabilities at the time when the application is made
  3. The company has no outstanding charges in the Register of Charges
  4. The company has no outstanding penalties or offer of compounds under the Companies Act 1965
  5. The company has no outstanding tax or other liabilities with any government department or agency
  6. The information of the company with the Registrar is up to date
  7. The company is not involved in any legal proceeding within or outside Malaysia
  8. The company has not made any return of capital to the shareholders
  9. The company is not a holding company or a subsidiary of another corporate body
  10. The company is not a “Guarantor Corporation”

Required Documents for Malaysia Company De-registration:

  1. Covering Letter- stating reasons to support application
  2. Statement by Applicant
  3. Resolution of majority shareholders OR if director/s OR shareholder/s is/are untraceable, proof of attempts to trace the where about of such directors or shareholders
  4. Management Accounts or Audited Financial Statements (if so requested)
  5. Waiver letters from creditors/tax clearance (if applicable)

Contact us

If you have further queries, please contact Tannet

24 hours Malaysia hotline:603-21418908;

24 hours Hong Kong hotline:852-27837818;

24 hours Hong Kong hotline:86-755- 36990589;

Email: mytannet@gmail.com

TANNET GROUP : http://www.tannet-group.net, http://en.tannet.com.my

 

Types of Malaysia Company Registration

Types of Malaysia Company Registration

Malaysia company is divided into 2 types: Local companies and Labuan offshore companies. Local companies in Malaysia exist in entity form, in which investors can choose between field operation and virtual office. There are 3 types of local companies, namely Enterprise, Malaysia Sdn Bhd, and Malaysia Foreign Company.

 

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Malaysia Company Registration – Local Companies (Sdn Bhd)

A private limited company in Malaysia must have a minimum authorized capital and paid-up capital of RM400, 000 and RM2 respectively. Paid-up capital may differ with scope of business, therefore entrepreneurs can place the paid-up capital in phases based on actual operating conditions. Each company must provide two (2) or more shareholders; shareholders can be the directors at the same time. Shareholders do not have nationality restrictions; each company must have a minimum of two (2) directors, being a natural person with their principal place of residence in Malaysia or foreigners who hold a visa in Malaysia for more than 6 months.

 

Malaysia Company Registration – Labuan Companies

Labuan Company Registration is a hot choice for foreign investors to setup and extend business in Labuan. Today, it is an international offshore financial center. 1990 issued by the Companies Act and in the same year the establishment of offshore Labuan Offshore Business Activity legislation to ensure that Labuan offshore companies enjoy a professional and quite flexible company structure. The legal system is adopted English law. Tax system in Labuan is different from that of local companies. Labuan companies are taxed at a rate of 3% of net profit or annual payment of RM20,000;whichever lower. Labuan Companies are free to choose their own tax status of a filling.

 

Contact us

If you have further queries, please contact Tannet

24 hours Malaysia hotline:603-21418908;

24 hours Hong Kong hotline:852-27837818;

24 hours Hong Kong hotline:86-755- 36990589;

Email: mytannet@gmail.com

TANNET GROUP : http://www.tannet-group.net, http://en.tannet.com.my

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