Anyone can decide one day to start a company. All that person has to do is provide service or product to another person which is called a customer that procedure a profit to be in business. It is not necessary for you to register your company in Malaysia with the state or local government to complete business transactions, but registration of a company is a smart choice for a new entrepreneur for a lot of reasons. When you have decided to register your company in Malaysia then it is necessary for you to engage the service of your company secretary to help you to complete the company registration process.
It is a must for every (Sdn Bhd) company to have at least one secretary on the board as well as the secretary of the company must be licensed by SSM Malaysia or he must be a member of a professional body.
What are the Essential Requirements to Register Malaysia Company?
Secretary of your company will require the following information or documents from you for the purpose of preceding the company registration process.
- New or Unique Company Name
- New company’s business activities
- Identity card for Malaysian Citizen or Passport for Foreigner of 2 directors and shareholders
- Residential Address of all shareholders and directors
- Shareholding structure
Upon receiving the documents which are listed above, the company secretary will also need to submit the form 13A which is also called ‘Company Name Search Application Form’ to SSM or companies commission of Malaysia for their approval of using the name in the new company. After the approval for new company’s name, it is a must for the secretary of the company to prepare the registration documents.
What you need to do to Register Malaysia Company?
It is a must for you and your partner to sign all registration documents that are prepared by the secretary of the company. It is also necessary for you to pay full payments before the secretary of the company can proceed with the next action.
After receiving your payments, the secretary of the company will arrange the Form 48A to be attested by the Oaths commissioners as well as from M&A (Memorandum and Articles of Association) by the stamping office.
What will be submitted to Register Malaysia Company?
Once all the processes which are listed above have been done, now it is a must for the secretary of the company to submit the following documents to Companies Commission of Malaysia for the company registration purposes.
- Form 6 (which is also called deceleration by company secretary)
- Form 48A (which is also called declaration by directors and shareholders)
- M&A (Also called memorandum and Article of Association)
- Identity cards for Malaysian citizens and Passports of foreigner’s directors and shareholders
- Bank draft of RM1xxx must be payable to Companies commission of Malaysia.
- Bank Draft RM1xxx is legal for registration of RM 4xxx,xxx authorized capital.
How long does it take to Register Malaysia Company?
Company’s commission of Malaysia will issue the Form 9 which is also called Certificate of Incorporation for your new company. The assurance of Form 9 shows that your new company has been incorporated with Companies commission of Malaysia and you may now start your business immediately.
Benefits of Company Registration in Malaysia
There are lots of benefits of company registration in Malaysia but some of them are as follows.
- When you apply for loans for your company, you will have to prove that you are actually a business. So you can get loans for your company very easily if your company is registered with SSM
- Customers and clients love those companies which are registered.
- Registration of company makes you eligible to receive supplier discounts.
- If your company is registered with SSM in Malaysia then you can easily hire full-time employees and pay them in accordance with state laws.