Process of company registration in Malaysia

Malaysia has vast opportunity to do business. The rising economy is suitable for carrying out business. If you want to start a trade in this country, you have to go through several legal process first. One of such initial process is registering the company. Yes, you first have to complete the company registration process. This article will focus on such procedures that you must not skip if planning to start a company.

At the very beginning you have to hire a secretary for your company. He/ She will work on your MoA, AoA and other necessary forms when required.

After that reserve a company name. Private limited companies must have " Sendirian Berhad" (SDN. BHD.)as suffix in Malaysia. Without this particular suffix, company name will be void. There is a fee of RMS 60 for this process.

Next, you have to pay a sum of RM 4000 at the beginning for authorizing company capital. In this situation shareholder of this company must hold at least RM one. A government frees of RMS 1010 is also required.

Once done, it’s time to draft several forms to get the incorporation certificate. You must particularly fill-up Form 24, 44, 48, 49, MoA and AoA.

You must provide several compulsory credentials in those forms. For instance, full name of the proposed company and objectives of the company. It needs amount of capitals each shareholder will hold. The form also includes agreements on possible liabilities each member will carry. Finally, detail personal credentials, such as owners full name, address, contact number etc.

Once completed, company secretary must submit these completed forms to SSM by online. If papers are appropriate, the incorporation process will be complete within 2 days. Mean that time, secretary also need to prepare a company board resolution.

Next step is to open a bank account. Preferred banks for business account are, HSBC, Standard Chartered, UOB and OCBC. Following that a tendency agreement will be necessary for renting a commercial space.

At this phase you need to apply for business licenses suitable for your business type. You also have to apply for ESD to check and verify your business. To wrap up the procedures, you have to apply for employment pass. This is necessary to hire foreign employees in your company.

Company registration process is constantly on refinements and improvements. Especially when the information technology is on its pick, all the form transection processes are going online instead of manual transition. It is necessary to keep an up to date knowledge if entrepreneur show interest in investment. S & f consulting farm can assist you in such fields. Business and law experts here are ready to give you up to date information and assistance whenever and wherever you need.