Updated: Jan 29, 2022
Types of companies
The following are the three types of companies available in Malaysia:
Company limited by shares;
Company limited by guarantee;
In practice, almost all companies will be companies limited by shares, i.e., companies with limited liability, the maximum liability of a member being limited to the value of share capital. Companies may be formed as either private companies or public companies. Unlimited companies have no limit to the liabilities on its members.
A private company is one which is prohibited by its Constitution to issue any invitation to the public to subscribe for shares or debentures of the company or to deposit money with the company. Shareholders / members of a private company shall not be more than fifty and are also restricted in their right to transfer their shares in the company as provided in CA 2016. A public company is employed where it is intended to invite the public to subscribe for shares or debentures in the company or to deposit money with the company.
The process of setting up a company in Malaysia is regulated under the Companies Act 2016 and is governed by the CCM.
As with the birth of any entity, it always begins with a name. You will have to decide on a name and place a reservation of the said name online via the CCM’s Malaysia Corporate Identity (“MyCoID”) portal.
Many types of companies can be formed - from a simple private company limited by shares or guarantees, to larger public companies, depending on your needs.
Once the name has been approved, the CCM will provide a comprehensive form for your application to register a company. All of this can be completed online via the MyCoID.
The form itself is fairly straightforward and user-friendly, requiring only basic information such as the proposed director(s), shareholder(s) and business nature of your company.
Once the form is completed, all that remains is to submit the form together with payment of registration fees. And if all goes well, the CCM will issue a Notice of Registration upon approval, confirming the official birth of your company.
Once the incorporation is completed, company secretaries will have to be appointed within the first thirty days.
We can help
We offer a full range of entity creation services delivered by a team of experienced company secretaries and governance individuals, so that you can focus on strategic decisions with peace of mind.
We offer a full range of the following:
advisory services on the different types of establishment in Malaysia
incorporation of entities
registration of foreign companies/branches
application for representative/regional office
So contact us today, and we will help you take that first step into the world of business.
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