Professional Services in Malaysia

Bestar Professional Services Overview

Bestar is a global professional services network. While historically rooted in accounting, we have significantly diversified our offerings and provide a comprehensive range of services to clients across various industries.

Here's a breakdown of our core professional services:

1. Audit & Assurance:

• Core Function: This is the traditional backbone of Bestar. We provide independent examination of financial statements and internal controls to ensure accuracy, compliance, and transparency.

  
  

• Services include: External audits, internal audit services, regulatory compliance, financial reporting advisory, and sustainability/ESG assurance.

2. Tax:

• Core Function: Assisting clients in navigating complex tax regulations, optimizing tax liabilities, and ensuring compliance.

  
  

• Services include: Corporate tax, international tax, transaction tax, indirect tax (e.g., GST/VAT), transfer pricing, tax accounting and reporting, global employer services (mobility, payroll, immigration), and professional management consulting.

3. Consulting / Advisory:

• Core Function: Providing strategic and operational advice to businesses to improve performance, solve complex challenges, and drive growth. This is a rapidly expanding area for Bestar.

  
  

• Services often encompass:

  
  

  • Strategy & Operations: Business strategy, market entry, cost optimization, supply chain management, operational efficiency, mergers & acquisitions (M&A) strategy.

  • Technology Consulting: Digital transformation, cloud adoption, data analytics, artificial intelligence (AI) and machine learning, cybersecurity, enterprise resource planning (ERP) implementation, IT strategy.

  • Human Capital: HR transformation, talent management, organizational design, change management, workforce strategy.

  • Financial Advisory (distinct from audit): Corporate finance (M&A, divestitures, fundraising), valuation services, restructuring and turnaround, forensic investigations, dispute advisory.

  • Risk Advisory: Enterprise risk management, regulatory compliance, cyber risk, financial risk management.

  • Sustainability & ESG: Developing and implementing sustainability strategies, ESG reporting, climate change services.

Key Differences and Emphases:

Bestar has different strengths and market perceptions:

• Known for our strong and expansive Consulting arm, particularly in technology consulting and strategy.

  
  

• Traditionally very strong in Audit and considered by many to be a leader in that area. Our Advisory services are also substantial, covering a broad range of areas including digital transformation and deals.

  
  

• Focuses heavily on Assurance, Tax, Advisory, and Strategy & Transactions. We are increasingly investing in technological consulting and innovation.

  
  

• Often recognized for its strengths in Audit and Tax, with a significant Advisory practice covering management consulting, risk consulting, and deal advisory.

The overarching categories of Audit, Tax, and Consulting/Advisory remain the pillars of our professional services.

Table of Fees

No.	Matter	No.	Professional Service Fees (USD)	Matter	Fees (USD)	Professional Service Fees (USD)
Malaysia		Malaysia
SSM		SSM
1.	Incorporation: Private Limited Company (Sdn Bhd)	1.	542	Incorporation: Private Limited Company (Sdn Bhd)	251	542
	Company secretarial services		285	Company secretarial services		285
	Provision of a registered office address		85	Provision of a registered office address		85
	Nominee director services			Nominee director services
	Registrar of Societies (ROS) - Jabatan Pendaftaran Pertubuhan Malaysia (JPPM)	Registrar of Societies (ROS) - Jabatan Pendaftaran Pertubuhan Malaysia (JPPM)
	Registering a Society			Registering a Society
1.	​​​​​Dissolution of Limited Liability Partnership	1.	1,450	​​​​​Dissolution of Limited Liability Partnership	24	1,450
MIDA		MIDA
1.	Setting Up a Representative Office	1.	1,500 to 5,000	Setting Up a Representative Office	1,200	1,500 to 5,000

Malaysia

SSM

Costs of Incorporation: Private Limited Company (Sdn Bhd)

• SSM Registration Fee: USD238 for Sdn Bhd incorporation.

• Name Reservation Fee: USD12 per name.

• Professional/Consultancy Fees: Professional fees for services like:

  • Incorporation professional fee USD542

  • Company secretarial services (annual fees USD285)

  • Provision of a registered office address (annual fees USD85)

  • Nominee director services (if needed for foreign companies)

  • Bank account opening assistance USD71

Nominee director services fee

Nominee director services are commonly used by foreign investors setting up companies in Malaysia to fulfill the statutory requirement of having at least one director "ordinarily resident" in Malaysia.

Here's a breakdown of nominee director service fees in Malaysia:

1. Annual Fees:

• Fee: You can expect to pay USD1,130 per year for nominee director services.

• Factors affecting the annual fee:

  • Complexity of operations: Companies with higher turnover, more complex business activities, or those requiring specific licenses may incur higher fees.

  • Risk profile: If the nominee director service provider assesses your company as higher risk (e.g., high external debt, high share capital, high volume of transactions, or certain regulated industries), they may charge a higher fee.

2. Security Deposit:

• Bestar requires a refundable security deposit. This deposit acts as a safeguard for the nominee director against potential liabilities or unforeseen costs (e.g., company liquidation charges if the foreign client becomes unreachable).

• Deposit: This is USD1,130.

3. What's Included:

• Fulfilling the "ordinarily resident" director requirement.

• Signing routine statutory documents required by SSM.

• Compliance with the Companies Act 2016 regarding director duties.

Registering a Society

Registering a society in Malaysia involves certain fees, primarily to the Registrar of Societies (ROS) - Jabatan Pendaftaran Pertubuhan Malaysia (JPPM). Here's a breakdown:

1. Direct Registration Fees (to ROS):

• Application Fee: The direct application fee to the Registrar of Societies (ROS) for registering a new society is RM50.

  
  

• Certified True Copy (CTC) of documents: If you need certified copies of documents from ROS (e.g., Certificate of Registration, Committee List, Constitution), there are charges:

  
  

  • Certificate of Registration: RM10.00

  • Committee List: RM2.00 per page

  • Constitution of the Society: RM2.00 per page

2. Professional Fees:

• Full Registration Assistance: Bestar offers comprehensive packages that include preparing and submitting all required documents, ensuring compliance, and liaising with ROS. These services can range from RM1,566.00 (inclusive of 1 set of CTC from ROS) and up.

• Ad-hoc Services: Bestar offers "à la carte" services for various compliance and administrative tasks, such as:

  
  

  • Change or Update of Clauses in Constitution: RM300.00 per clause

  • Draft & Review of Constitution (12 to 18 Pages): RM500.00 (additional pages charged at RM50.00 each)

  • Translation Services: From RM300.00 per 2 pages

Registered Office adddress Service

Bestar offers the registered office address service as a standalone annual fee. This fee covers:

• The use of our address as the official registered address with ROS.

• Receiving and forwarding official mail from ROS and other government bodies.

• Keeping statutory records at the registered office (though for societies, this might be less extensive than for companies).

Costs:

• A very basic "mail & address" service from Bestar could be as low as RM500 - RM800 per year. This would cover the use of the address and basic mail notification/forwarding.

1. Dissolution of Limited Liability Partnership

Costs: The cost of dissolving an LLP voluntarily is USD1,450, including government fees and newspaper advertisement fees.

MIDA

1. Setting Up a Representative Office

   
   

Here's a breakdown of the fees and costs:

1. Government Application Fees (MIDA Fees):

These are official fees payable directly to MIDA.

• New application of RO status: RM5,000.00

• Extension of RE/RO Status: RM10,000.00

• MIDA Support Letter for Expatriate (if required): RM1,000.00

• Digital Certificate (validity 2 years): RM1,000.00 (This replaced the previous RM300 fee).

• Annual Compliance Report/Assessment (ACR/ACA/CAF-PH/CAF-IILS): RM2,000.00

2. Professional Service Fees:

• Initial Consultation & Feasibility Assessment: Bestar may offer a free initial consultation/ might charge a nominal fee for a detailed assessment of your eligibility and the best market entry strategy.

• RO Application & Registration: This covers:

  • Preparation and review of all application documents.

  • Liaison with MIDA (or Bank Negara Malaysia/Ministry of Tourism for specific sectors).

  • Submission of the application.

  • Follow-ups and responding to MIDA's queries.

  • Range: This can range from USD 1,500 to USD 5,000+ (or equivalent in MYR), depending on the complexity of your case.

• Expatriate Employment Pass Application: If you plan to send expatriate staff to Malaysia, this is a separate service.

  • Guidance on requirements and quota.

  • Preparation and submission of employment pass applications to the Immigration Department.

  • Assistance with Dependant Pass applications.

  • Range: This can range from USD 800 to USD 2,000+ per pass.

• Registered Office Address: Bestar offers RO a physical address service.

  • Annual Fee: RM 600 - RM 1,500+ per annum.

• Ad-hoc Services: For any additional advice or specific tasks not covered in the initial package, Bestar will charge an hourly rate.

  • Hourly Rates: Range from RM 250 to RM 1,500+ depending on the seniority of the professional.

• Disbursements: These are out-of-pocket expenses incurred by Bestar on your behalf, such as translation fees, notarization fees, courier charges, and government processing fees (like the MIDA fees mentioned above, which would be paid to Bestar and then passed on to MIDA).

Summary of Costs and Considerations:

For a basic setup with one or two expatriates and typical professional services, you could be looking at:

• Initial Setup (Government Fees + Professional Fees): RM 10,000 - RM 25,000+.