Registering your Company in Malaysia as a foreigner. Important Steps!

Malaysia is South East Asia’s largest country and as such boasts a vibrant economy to match. Full of ethnic diversity and huge technological developments, Malaysia is possibly one of the best countries for you to start up your limited liability company. The advantages to choosing Malaysia don’t stop here- as per Malaysian policy, even as a foreigner, you can own up to 100% of your company. Moreover, the startup capital needed to begin the incorporation process is much lower than other countries in South East Asia.

If you’re having second thoughts about the process- it’s okay. Simply contact us at S&F Consulting, where we pride ourselves on making the procedure of company registration for you simple as possible. In the time being, have a look at the guideline we’ve provided below. You may use it as a checklist for all the processes involved for the incorporation of your company.

All business registrations will be conducted by the Companies Commission of Malaysia (SSM).

Steps of Company registration in Malaysia are:

Company Name

You will need to register your company with an appropriate name. The name must be unique and have no similarities with the names of any pre-existing companies. Once you have chosen a name, as per policy, you will have to conduct a name search and file for it to be reserved. You will then receive a document with the above details.

Documents

In order to proceed, you will have to prepare documents declaring that you are opening a private company. Then, you will need a supplementary document that summarizes your proposed business activities.

Official Address in Malaysia

The next step to your incorporation would be to find a suitable office location for your corporation. This is simply the official Malaysian address and does not have to be the official company address.

Shareholders

You are required to appoint at least two shareholders, above the age of 18 for your company (Section 14, Companies Act)

Directors + Company Secretary

You must also appoint a minimum of two directors for your company, with at least one of them being a resident of the country- whether by nationality or by a permanent residency. (Section 122, Companies Act).

Next, you will also need to hire an official company secretary, who has approval from the SSM.

Details/Declarations of Agreements by Directors

Now you must issue a document containing all details of the company directors as well as a signed letter from them that declares their agreement to the rules and regulations of the company formation.

Registration Fee

You have to now pay the registration fee of RM 1000 to the SSM, along with this fee, you may submit all the above documents and wait for your registration to be approved.

Bank Account

Once you have received approval, you will need to open a bank account under your official company name.

Registering for amenities

After the opening of the bank account, you will need to register for the following amenities:

• Employee Retirement Fund
• Social Security Fund
• HR Training and Development

Annual General Meeting

Now, you must register an official date for your annual general meeting, this date has to fall within six months of the end of the fiscal year for your company.

To conclude, while the process of incorporation of your company in Malaysia may seem complex, with our help, at S & F Consulting, the procedure will go along without any difficulties. Registering your company in Malaysia is highly advantageous for you, these advantages include, but not limited to the possibility of 100% ownership of the company. If you’re still unsure, be sure to contact us for advise as it is completely free of charge.

Frequently Asked Questions

How much will this cost?

The registration fee is RM 1000

Does my resident director have to be a Malaysian National?

They do not have to be a Malaysian National, but they will have to have some form of residency certification.

Why should I choose S & F Consulting?

S & F Consulting services is a company registration consultant and we pride ourselves on being able to simplify the registration process for foreign nationals to set up their dream company in the country of their choice. Simply contact us with the details of your company and we will ensure the road to establishing it will be smooth and worry free!