Steps of company registration in Malaysia as a foreigner!

Malaysia is South East Asia’s largest country and as such boasts a vibrant economy to match. With its huge pool of ethnic varieties and cities that are brimming with the latest technology, Malaysia can be seen as one of the best countries for you to set 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 feeling reserved about the process- don’t be. Simply contact us at S&F Consulting, where we pride ourselves on making the process of company registration for you completely hassle free. In the time being, take a look at the guideline we’ve given below. You may use it as a checklist for all the steps involved for the incorporation of your company.

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

Company registration Steps in Malaysia as a foreigner:

Company Name

You will need to register your company with an appropriate name. This name must be unique and share no similarities with to the names of any pre-existing companies. Once you have decided on a name, as per policy, you will have to conduct a name search and fill in a reservation. You will then receive a document certifying this process.

Documents

Next, you will have to file for documentation declaring that you are a private company. Then, you will need a to submit a supplementary document which outlines 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 necessarily need to be the company’s official address as a whole.

Shareholders

At least two shareholders are required by law, above the age of 18 for your company (Section 14, Companies Act).

Directors + Company Secretary

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

Afterward, you will also need to hire an official company secretary, who has approval from the SSM, in order for you to proceed.

Details/Declarations of Agreements by Directors

Next, 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 company formation.

Registration Fee

Now you may pay the registration fee of RM 1000 to the SSM, along with this fee, you may submit all the above documents and wait for confirmation of your registration.

Bank Account

Once certification of your incorporation is received, you will need to open an official company bank account.

Applying for amenities

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

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

Annual General Meeting

Now, you must select an official date to have 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 difficult and complex, with our aid, at S&F Consulting, this procedure will occur with no fuss. Registering your company in Malaysia holds many benefits for you, including, but not limited to the possibility of 100% ownership of the company. If you’re still apprehensive, be sure to contact us as we provide free advising.

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!