Table of Fees Malaysia

No.			​Fees (USD)
	SSM
	Company limited by share incorporation		236.00
2.	Reservation of name of company		12.00

SSM

Application Fees for incorporation company limited by share under section 14 of the Act Malaysia

Under Section 14 of the Companies Act 2016 in Malaysia, the application fee for the incorporation of a company limited by shares is a flat fee of RM1,000.

In addition to this, there are other potential costs you might incur, such as:

• Name Reservation Fee: RM50 for each name applied, which reserves the name for 30 days (can be extended up to 180 days).

• Professional Fees: This includes fees for engaging a company secretary (which is mandatory), legal advisors, or accountants. These fees can vary significantly.

• Post-Incorporation Costs: Such as bank account opening fees, annual maintenance fees, and ongoing tax compliance costs.

It's important to note that while the incorporation fee itself is fixed, the overall cost of setting up a company in Malaysia will depend on the additional services and professional assistance you require.

Professional Fees

You're right to ask about professional fees, as these often make up a significant portion of the total cost of company incorporation and ongoing compliance in Malaysia. While the government fee for incorporation (RM1,000 for companies limited by shares) is fixed, professional fees are highly variable and depend on the services you require and the firm you choose.

Here's a breakdown of common professional fees:

1. Company Secretary Fees (Mandatory)

• Initial setup: Many secretarial firms offer packages that include the SSM incorporation fee, name search, and the first year's secretarial services. These packages can range from RM1,500 to RM3,000 or more depending on the inclusions.

• Annual Retainer Fee: This is a recurring fee for the company secretary's ongoing services to ensure compliance with the Companies Act 2016.

  • Basic annual retainer fees typically range from RM720 to RM1,200 per year (RM60 to RM100 per month).

  • More comprehensive packages or services may cost RM1,500 - RM3,000+ per year, especially if they include unlimited standard resolutions, annual return filing, and financial statement lodgement.

• Ad-hoc Services: Company secretaries often charge additional fees for specific tasks outside the basic retainer, such as:

  • Change of company name (RM300-RM550)

  • Increase/allotment/transfer of shares (RM300-RM350 per transaction)

  • Appointment/resignation of directors (RM200-RM250 per director)

  • Change of registered office address (RM100-RM300)

  • Preparation of resolutions for various corporate actions (RM20-RM500 per resolution, depending on complexity)

  • Certified True Copies (CTCs) of documents (RM5-RM6 per page/signature)

  • Bank account opening assistance (RM150-RM1,000)

2. Accounting and Tax Services

• Accounting/Bookkeeping: This depends heavily on the volume and complexity of your transactions.

  • For a startup with low transaction volume, annual accounting fees might range from RM500 to RM3,500.

  • For more active companies, it could go up to RM7,000 per year or more.

  • Some firms offer monthly, quarterly, or yearly accounting services.

• Tax Agent Fees:

  • For corporate income tax computation and filing, typical fees for a startup range from RM1,000 to RM1,500 per year.

  • Fees can increase based on turnover and number of employees (e.g., RM500 for dormant companies, up to RM2,500+ for companies with higher turnover).

  • Additional fees may apply for tax estimation (CP204/CP204A) revisions or specific tax advice.

• Audit Fees (Mandatory for active companies):

  • For a startup, the first-year audit fee usually ranges from RM1,500 to RM2,500.

  • Audit fees are typically guided by professional standards (e.g., MIA's Recommended Practice Guide) and can be based on gross turnover, total assets, or total operating expenditure. For instance, for a company with RM100,000 turnover, the audit fee could be around RM1,000.

3. Legal Fees

• While not always required for a standard incorporation, you might engage legal professionals for:

  • Drafting specific agreements: Such as shareholder agreements, joint venture agreements, or complex contracts. Hourly rates for corporate lawyers can range from RM300 to RM1,500 per hour, or they may offer fixed fee packages for specific services.

  • Legal advice: On business structure, intellectual property, employment law, or regulatory compliance.

  • Reviewing constitutional documents: If you opt for a custom constitution instead of the standard one, legal review might be necessary.

Factors Influencing Professional Fees:

• Complexity of Business: More complex business structures, multiple shareholders, or specialized industry requirements will generally lead to higher fees.

• Volume of Transactions: For accounting and auditing, the number of transactions directly impacts the workload and thus the fees.

• Scope of Services: Basic compliance services will be cheaper than comprehensive advisory services.

• Reputation and Experience of the Firm: Well-established or larger firms may charge higher fees.

• Location: While less significant for online services, some regional variations might exist.

Recommendation:

It's highly recommended to get quotes from a few different company secretarial firms, accountants, and auditors. Many firms offer packaged deals for new incorporations that can simplify the process and potentially reduce initial costs. Always ask for a detailed breakdown of what is included in their fees to avoid hidden charges.