Steps of company registration Malaysia

Many people dream of having their companies but the process can sometimes be discouraging leading to many letting go of those dreams. Starting a business usually starts with one deciding which area of operation they want to get involved in depending on the area of expertise and passion. You then have to find out the feasibility of that business as well as explore other options available before thinking of getting the relevant documentation in the intended country of operation; a process that usually ends with registration as the last step. The process of company registration Malaysia consists of the following steps.

Steps of company registration Malaysia

Step 1: Gathering the needed information

Before the registration process, you have to come with three alternatives as a company name. The registration body in Malaysia known as Suruhanjaya Syarikat Malaysia (SSM) has to verify that the name you’ve chosen isn’t already in use. The name should also be easy to pronounce and appropriate in terms of relevance to your area of operation. You also need:

☛ l  shareholder

☛ l  director

☛ l  secretary

☛ l  physical address for the business

If you want to register as a foreign investor, you have to have an additional shareholder and director. A decision as to whether you want a partnership with a Malaysian citizen or prefer sole ownership is also necessary. The company secretary and at least one director must have permanent residency in Malaysia regardless of what type of investor you are.

Step 2: Verification

Your company name has to be checked to ensure authenticity. If the name is available, it will be allocated to you otherwise the other two names are tried out. It is advisable to check out the availability of the name on the SSM’s online platform before visiting the offices to make the process faster. After registering and filling the required form on their website, you have to log in and type your preferred company name before pressing the search button.

Step 3: Form filling

You have to fill two forms, one for the trade name registration and the other for the company registration. The form for trade name registration contains the top three names you choose together with the type of business your company will run. The company registration form on the other hand has the date you started operating the business and is attached to the other form.

Step 4: Submission

Once all the details are correctly filled, the forms are taken to the relevant government's offices where they are checked again. You then get a registration number, pay the necessary fees and get your certificate. This step has to be performed by the owner or all partners of the company. The fees usually vary depending on whether the business is solely owned or has partners.

Conclusion

SDN BHD Registration Malaysia has many benefits since the country is the preferable choice of business ventures in Asia. However, to enjoy smooth operations, you have to fulfill the government’s requirements for business ownership. For instance, you have to register a company within 30 days from the day it starts operating, lack of which you could be given a hefty fine or even go to jail according to the Malaysian laws. It is also your responsibility to obtain other documents needed for the business such as permits and licenses. You have to pay taxes and keep your records, which should be audited every year.

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