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:
Choose a company name: Conduct a name search with SSM (Suruhanjaya Syarikat Malaysia) to ensure availability.
Select a business structure: Decide on the most suitable company type based on your needs.
Prepare required documents: These include company Memorandum & Articles of Association, directors' and shareholders' details, registered office address, and business activities description.
Submit registration documents: File online or through an agent with SSM. Pay registration fees.
Obtain business licenses and permits: Depending on your industry, you may need additional licenses from relevant authorities.
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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