A private limited company is the most popular type of business entity in Malaysia for businessman and entrepreneur. It is identified by the words “Sdn Bhd” or “Sendirian Berhad” at the end of its name.
The company has separate legal status from its shareholders. Shareholders have limited liability and liable for the debts and losses of the company to the amount that they have contributed. Benefit for a Malaysia local company is tax incentives, exemptions and special government grants. A private limited company can convert its status to a public limited company to raise fund publicly.
For more information, you can drop us an email at email@example.com and we shall reply to you soonest possible.
- Fill up the Online Incorporation Form or print out the Manual Incorporation Form and email to us at firstname.lastname@example.org
- Company name searches will be conducted to check the availability of proposed names.
- Inform the availability of name(s) to you.
- You then require to confirm your top preference proposed name.
- Email to us the confirmed proposed name for reservation of name together with required information.
- Please bank in / transfer the deposit of RM500 into our bank account and email the payment slip to us for verification purposes.
- Upon payment. the proposed company name will be submitted for name search reservation.
- Once proposed name is approved, incorporation documents will be prepared and emailed to you.
- All Directors and Shareholders are required to sign the incorporation documents.
- The remaining balance of incorporation fee is compulsory to be made at this stage.
- We will then proceed to compile the incorporation documents and submit to SSM.
- Upon approval, SSM will issue a Notice of Registration as conclusive evidence.
- We will email the super form to you for your post incorporation action.
The requirements to form a new private limited company or opening a new private limited company are as follow:
- Minimum of one (1) Shareholder
- Minimum of one (1) Director
- Qualified company secretary who can be either:
- An individual who is a member of a professional body prescribed by the Minister of Domestic Trade Cooperative and Consumerism; or
- An individual licensed by the Companies Commission of Malaysia (SSM)
Both the director and company secretary must ordinarily reside in Malaysia by having a principal place of residence in Malaysia.
The following details are required by us in order to help you to incorporate a Sdn Bhd company by completing the Online Incorporation Form or manual incorporation form and email to us at email@example.com :
- Proposed company name(s). If the proposed name contains abbreviation words please state the meaning of it (if any). Please refer Select Company Names Guide.
- Principal business activities of the proposed company.
- Photocopy of identity card for director(s) and shareholder(s) who are Malaysian.
- Photocopy of Passport for director(s) and shareholder(s) who are Foreigner.
- Photocopy of Registration Certificate and its relevant documents for Corporate Shareholder.
- Paid-up capital of the proposed company.
- Business occupation, email and contact number for director(s).
- Business occupation, email and contact number for shareholder(s).
- Shareholding percentage for each shareholder.
We wish to ensure that the documents are properly signed and executed. As for outstation or overseas clients, some documents would need to execute by a commissioner for oaths or notary public.
A third party such as commissioner for oaths or notary public can be the witness to the said documents. Thereafter courier all original signed copies of incorporation documents to our office for subsequent action.
The entire process of company incorporation will take about 2 working days from the day that full payment is made to us for setting up a Sdn Bhd company and incorporation documents are properly signed and reached us the next working day. However, the submission of registration documents is subject to the availability and stability of SSM MyCoID online system. Nonetheless, a company can be incorporated within 1 working day.
After your company is incorporated, you can start your business activities immediately. The following matters you may need to consider to do:
- Open a bank account for the company
- If your business activities require one or more licenses, you may need to apply and obtain the relevant licenses prior to your commencement of business.
- Register for Goods & Services Tax (GST) if your estimated company annual turnover exceeds RM500,000.00. Registration of GST is not mandatory if annual turnover is less than RM500,000.00. We can help you to register for GST if you need so.
- If you intend to hire local employees (Malaysia citizens and/or permanent residents) you will need to open an account with the Malaysia Employment Provident Fund (EPF). A percentage in accordance to the local employees’ salaries will be deducted and contributed to the EPF Board on a monthly basis as part of their retirement fund. From an employer perspective, the same is applied with a fixed rate. For more details, you may contact us as we offer this service to help you to register your company’s EPF account and manage your staff payroll.
- You may also need to register an account with Malaysia Social Security Organisation if you intend to hire local employees (Malaysia citizens and/or permanent residents). A fixed rate will need to deduct for the employer and employee portion as an insurance protection for your employee. For more details, you may contact us as we offer this service to help you in registering your company’s SOCSO account and manage your staff payroll.
- You will then need to decide on your company’s financial year end. You will also need to keep track your company’s income and expenses (bookkeeping) according to Malaysia Accounting Standards. For more details, you may contact us as we provide accounting and bookkeeping services. Your company’s account can either be kept on a weekly, monthly, quarterly or yearly basis.