The simple way to
start your new business
in Malaysia
Starting a business involves planning, making key financial decisions, and completing a series of legal activities. At SMI Corp, we can help you start your business on the right foot.
STEP 1
Understand Malaysia's company registration requirements
The requirements for registering a company in Malaysia are simple and straightforward as below:
Company Name
A unique company name
The name cannot be identical or substantially similar to the name of an existing business in Malaysia.
Shareholder
At least 1 shareholder
They must be a foreign or local individual or corporate entity, with the maximum number of shareholders of 50.
Director
A resident director
At least one director who ordinarily resides in Malaysia.
Capital
At least RM1 in capital
You can increase the capital later by injecting additional funds and notifying the company registrar.
Company Secretary
A company secretary
They must be a qualified natural person living in Malaysia, for ensuring the company complies with its regulatory obligations and filings.
Address
Address in Malaysia
A local registered business address, where all statutory documents of the company must be kept at this address.
STEP 2
Decide on company structure and prepare supporting documents
Next, it is to decide the company structure. Here are the questions to be considered:
- Who will be the shareholders of the company?
- What percentage of shares will each shareholder own?
- Who will be the directors of the company?
- Who will act as its Malaysia resident director?
- Will you require our nominee director service?
- What will be the initial share capital of the company?
Note: When you incorporate your company through us, we will appoint a company secretary for your company and our address as your company’s registered address.
STEP 3
Confirm availability of your chosen company's name
After you have decided on a name, it's time to run a name check with the Companies Commission of Malaysia (SSM). You can register the name with the SSM, if it is available. Upon approval, the name will be reserved for your company.
The name approval is a quick procedure as long as you follow these guidelines:
Curious if your chosen Malaysia company name still available?
*Registration is required to perform the name check. It's totally free!
STEP 4
Sign incorporation documents
After the name has been approved, it will be reserved for 30 days from the day of confirmation and can be extended for another 30 days at RM 50.00.
The following documents are required to incorporate your company.
Constitution
You can adopt the standard Malaysia company constitution that is recommended by SSM.
Declaration from Director(s)
and promoter(s) before appointment.
Declaration of compliance
from individuals responsible for incorporation.
STEP 5
Incorporate company and open bank account
The final step involves the requirements and obligations you must satisfy after you have successfully registered your company with the SSM.
This stage will mainly focus on opening the business bank account, learning which business licenses you will need, registering for the provident fund, appointing auditors and determining your tax liabilities.
SSM will issue the following official documents:
This is an official electronic document confirming the registration of a company in Malaysia. The certificate shows the name of the company, the date of the incorporation, and the business registration number.
A report which contains the latest information of a business (such as business name, registration number, registration date, registration expiry date, business form, business status, business address, business type , business branch information (if any)) ,information of the current and previous owner.
Upon registration, all official documents will be immediately available for you. As soon as your Malaysia company is registered, you can start conducting business under its name.
Everything you need to start your new business
We provide everything young entrepreneurs need to get their new business up and running, from a temporary mailing address to receive your incorporation documents, to assistance for tax registration and setting up your business bank account.
STARTUP
Perfect for new startup with fewer than 20 monthly transactions.
RM
598
per month billed annually
Price before 6% service tax.
GROWTH
Perfect for SME with fewer than 50 monthly transactions.
RM
838
per month billed annually
Price before 6% service tax.
BUSINESS
Perfect for SME with fewer than 100 monthly transactions.
RM
1138
per month billed annually
Price before 6% service tax.
Read service terms and conditions for the above package.
Terms of services:
- The package prices are subjected for 6% service tax.
- The package prices are based on monthly rates, billed annually.
- Monthly accounts transactions are sales invoices, purchases, expenses invoices, advances, loans repayments and etc.
- Invoices and bills to be uploaded via cloud accounting system by client, and training will be provided.
- Client will be entitled with cloud accounting user access license.
- Additional fees will be charged shall the number of transactions exceeding the above limit.
- Accounts services may defer starting by up to 3 months for cases whereby client is not able to start operation immediately.
- Sales & services tax registration is excluded in the subscription plan.
MORE HELP
FAQs for registering a company in Malaysia
A company constitution malaysia (previously referred to as Article and Memorandum of Association) is a legal document recognised by the Companies Act 2016 . It generally specifies the rules governing the relationship and activities of the corporate, its shareholders and directors.
Company Constitution Malaysia is not mandatory. At the point of incorporation, shareholders may choose to adopt a constitution either on or after company registration. It is best to adopt when there are more then one (1) shareholders in the Company.
A constitution is a special form of contract as it binds the company, shareholders and directors who initially agreed to adopt a constitution and any future shareholders, unlike shareholders agreement which only binds those who are parties to it.
First of all, a constitution has similar effect as a contract between the company, shareholder, director and company secretary. The provision is to be complied or a decision may be voided. However, it usually does not create enforceable rights between the shareholders, directors and/or company secretary.
Usually the Companies Act 2016 will set out some rules governing the relationship between the company, its shareholders and directors. Company constitution may be adopted to exchange the provisions of the Companies Act 2016 that is applicable. If the Companies Act 2016 is silent on method to for decision making, the company constitution can be used to fill in the gap.
As an example, the Companies Act 2016 states that issuance of new shares requires ordinary resolution, which can be passed through majority vote. Shareholders may use Company Consitution to override this and state that issuance of new share must be decided with unanimous vote.
Business Types | Pros | Cons |
|---|---|---|
Sole Proprietorship / Partnership |
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Private Limited (Sdn Bhd |
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Limited Liability Partnership (LLP) |
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Yes. New Companies Act 2016 w.e.f 31 January 2017, the process for Company Registration Malaysia can be done online at RM1,060.00 by using only one (1) persons name.
The fee charged by Company Commission Malaysia (CCM Malaysia) involved are as follows:
- RM50 – Reservation of Name for 30 days
- RM1,010.00 – Incorporate Fees
- Name of proposed Company – get ready with 3 names just in case your first and second choices are taken.
- Principal Business Activity (e.g. Software Development, Construction & Renovation, or Hotel, Engineering)
- Identification Card or Passport of Shareholder/Director – at least of 1 person
- Amount of paid up capital
- Percentage of shareholding of each shareholders (if there are multiple shareholders).
**Note: CCM Malaysia reserves the right to reject your name reservation submission, which will require you to make another name reservation – each name reservation will cost you RM50.
Yes, a company secretary is still needed for the following reasons:
- CCM Malaysia requires that you must appoint a company secretary within 30 days from the date of incorporation and that the position must not be vacant for more then 30 days. Fees will be imposed for late appointment of company secretary.
- As soon as your Company is incorporated you will most probably need to open your account, as a result a Company Secretary is required to prepare the resolutions and documents to that effect.
- You will need a Company Secretary to lodge you annual returns and other relevant documents to SSM such as Company Constitution, Allotment of New Shares and Appointment of Directors and etc.
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