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Company Formation in Malaysia



Company Formation in Malaysia


Forming a company in Malaysia can be an exciting step for entrepreneurs looking to tap into the growing Southeast Asian market. Here's a general overview of the process:


Types of Companies:


  • Limited by Shares (Ltd): The most common type, suitable for most businesses. Shareholders' liability is limited to their share capital. Minimum of one director and one shareholder required.

  • Limited by Guarantee (Ltd. by Guar.): Suitable for non-profit organizations. Members' liability limited to a fixed amount they guarantee to contribute if the company is wound up. Minimum of one director and one member required.

  • Unlimited Company: Members have unlimited liability for the company's debts. Not popular due to high risks. Minimum of two directors and members required.

Steps involved:


  1. Choose a company name: Conduct a name search with SSM (Suruhanjaya Syarikat Malaysia) to ensure availability.

  2. Select a business structure: Decide on the most suitable company type based on your needs.

  3. Prepare required documents: These include company Memorandum & Articles of Association, directors' and shareholders' details, registered office address, and business activities description.

  4. Submit registration documents: File online or through an agent with SSM. Pay registration fees.

  5. Obtain business licenses and permits: Depending on your industry, you may need additional licenses from relevant authorities.

  6. Appoint a Company Secretary: Mandatory within 30 days of incorporation.


Additional considerations:


  • Foreign ownership: Foreigners can generally own 100% of a Malaysian company, but certain industries have restrictions.

  • Minimum paid-up capital: Minimum of RM1 (around USD 0.23) required.

  • Taxation: Companies are subject to corporate income tax (currently 24%).


Resources:



How Bestar can Help


Bestar's Offerings for Company Formation in Malaysia


Bestar is a well-established service provider specializing in company formation and business consultancy in Malaysia. Here's how we can assist you:


Streamlined Process:


  • Package deals: Bestar offers comprehensive packages covering all steps of company registration, including name checks, document preparation, and submission to SSM. This simplifies the process and saves you time.

  • Online registration: We offer fast and convenient online registration, eliminating the need for physical visits to government offices.

  • Experienced team: Our team includes qualified professionals like accountants, company secretaries, and tax agents, ensuring efficient and compliant incorporation.


Additional Services:


  • Nominee director services: For foreign investors who don't have a local resident director, Bestar can provide nominee directors to fulfill regulatory requirements.

  • Company secretarial services: We can handle ongoing statutory compliance, prepare annual reports, and maintain company records.

  • Accounting and payroll services: Bestar can manage your bookkeeping, payroll processing, and tax filings.

  • Business licenses and permits: We can assist in obtaining necessary licenses and permits from relevant authorities.


Benefits:


  • Expertise and guidance: Navigating company formation regulations can be complex. Bestar's experience can ensure a smooth and compliant process.

  • Time-saving: Our services can free up your time to focus on other aspects of your business.


Consult with Bestar for specific guidance on company formation in Malaysia.


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