Incorporate Your Business in Malaysia by registering a Private Limited Company (Sdn. Bhd.)
To catalyze establishment of new businesses from the effect of CoVid-19 pandemic, companies established between 01st July 2020 to 31st Dec 2021 will be enjoying tax rebate up to RM 20,000.00 per year for 3 years of assessment.
Incorporation Costing: We provide incorporation of new (Sdn. Bhd.) company in Malaysia at only RM 2,162.40 inclusive of SST and it could be done within 3 to 4 working days but beforehand please get prepared on this required info as below:
1. Incorporation of Private Limited Company (Sdn. Bhd.)
The Incorporation services of a Private Limited Company (Sdn. Bhd.) service package includes the stated:
- Checking on availability of company registration name for 2 times (FOC) and an additional of RM 100.00 for 3rd subsequent name search;
- Appointment of directors with latest updated IC (minimum is 1 and up to 4 directors during incorp) https://www.jpn.gov.my/en/core-business/identity-card/mykad-tukar-alamat-eng ;
- Issuing of company paid up (minimum RM 1.00);
- Standard online registration at SSM;
- Compilation of Section 14 (Superform), Section 15, Section 17 and Section 58 & 236 (2) from SSM after registration;
- Preparing of 1st meeting minutes for board of directors and appointment of auditor;
- Preparing resolution for the company to open bank accounts (maximum 2 accounts);
- 3 sets of certified true copies of incorporation documents (including Section 14 (Superform), Section 15, Section 17 and Section 58 & 236 (2) );
- Using our registered business address as your Registered Office Address, Mail Collection & Email Notification and Professional Secretary Services;
- Free consulting of 30 minutes on company’s incorporation related matters, compliance standards & directors-members should know information;
- Inclusive of company chop, common seal, share certificate book, minutes book & register book;
- Free compliance business checklist info http://www.cwca.com.my/blog/sdn-bhd-compliance-checkup-checklist/ on the need-to-do matters while doing business in Malaysia;
- With refer to the new Companies Act 2016, a private limited company (Sdn. Bhd.) can be owned by a SINGLE director;
- If the business is having a business address, then do provide us a copy of tenancy agreement with stamp duty paid to LHDN as a supporting document;
- A whatapps or telegram chatroom for weekdays and daily office hours communication;
- ZOOM/ TEAM online discussion for any pending inquiries;
The company’s incorporation month CoSec fees.
- HC Tax Submission Task List.form
2. There are some businesses which are not for foreigners: Biz-Not-4-foreigners 2018.pdf
3. Our panel banker is UOB bank but the company are free to choose any banks in Malaysia.
4. For 100% foreign owned company, one of the director must reside at Malaysia with having a LHDN stamp duty paid tenancy agreement and also the foreign director is not from BNM’s sanction listing https://amlcft.bnm.gov.my/AMLCFT04.html .
- Feel free to whatapps me (Dr. CK Chong) at 018-66 33308 if you need any further info for incorporating a private limited company (Sdn. Bhd.) in Malaysia.
- All foreigners are only allowed to register a private limited by shares (Sdn. Bhd.) with one director in residing at Malaysia while Malaysians are free to choose on Sole Prop, Enterprise, LLP or Sdn. Bhd.
- Paid up capital is depends on the necessary requirements of the relevant authorities in issuing the trade license for your business.
- As for current, Ministry of Trade Consumerism will issue Expatriate Visa to 100% foreign owned in ‘unique’ business: a brand patented products, good profile, special concept, MNCs or recommendations by Government.
- All directors & shareholders must be a minimum of 18 years old and above, not bankrupt, not convicted or imprisoned.
- Upon being successfully incorp, the company is good-to-go in obtaining required permit/ approval or license from other relevant authorities in proceeding the business.
- For 100% foreign owned companies, at least one director must have a residential address with tenancy agreement of LHDN’s stamp duty paid and residing at Malaysia;
- Company bank account will NOT be able to open for:
- Student Visa;
- Guardian Visa;
- Professional Visa which is not issued by the Company;
- Spouse Dependent Visa which is not issued by the Company;
- Make Malaysia Second Home (MM2H) Visa;
- Malaysian who are the bad ‘cheques’ offenders;
- Malaysian or foreigners whose name black listed in the Central Bank System;
- Malaysians who have declared “bankrupt”;
- Directors or members who are from the sanctioned countries and Crimea regions in Ukraine, Cuba, Iran, North Korea, Sudan and Syria while selective sanctions laws may apply are Zimbabwe, Belarus, Venezuela and Russia.
- Director of the Company must practice diligence at all time: https://www.channelnewsasia.com/singapore/director-shell-companies-charged-received-money-scams-2652936
7. Incorporation of a Company (Sdn. Bhd.) with a Bumiputra status:
Question: How to define a BUMIPUTERA Company?
Answer: Bumiputera (Malaysian) company must fulfill the following criteria:
- Established under the Companies Act, 1965 or 2016;
- Paid-up capital of at least RM 25,000.00;
- Shareholders are 100% Bumiputera (Malaysian);
- Board of Directors are at least 51% Bumiputera (Malaysian);
- Managerial and Executive level are at least 51% Bumiputera (Malaysian);
- Supporting Employees are at least 51% Bumiputera (Malaysian).
Once the company is incorp and the next step will proceed to registration with Ministry of Finance (MOF):
- Section 15– Notice of Registration;
- Section 14– Application For Registration of A Company;
- Section 58 & 236 (2)– Notification of Appointment of The first Company Secretary;
- Director’s Resolution for cheque signatory;
- Latest 1 month’s bank statement;
- All photocopies of shareholder’s and directors’ IC;
- Latest 1 month’s EPF statement;
- LHDN’s stamp duty paid tenancy agreement for office or factory;
- Organization Chart complete with name and post;
- A sketch map complete with landmarks and clear street names to the premises (Download from the internet is not accepted).
- Bumiputera status is a privilege rather than a right as failure to comply with the criteria of Bumiputera status set out in the Treasury Circular and the relevant Treasury Circular may allow the Bumiptera status granted to the company to be withdrawn and cancelled at any time without prior notice.
- Application link: https://www.eperolehan.gov.my/
- Professional fees is invoice separately for the application of Bumi status company.
8. Securities Commission Malaysia (SC) Approved Equity Crowd Funding Platforms:
a. Alix Global’s website: https://alixglobal.com/
b. Crowdonomics’s website: https://www.crowdonomics.co/
c. PitchIN’s website: https://pitchin.my/
d. Ata-Plus’s website: https://www.ata-plus.com/
e. Eureeca’s website: https://eureeca.com/Default.aspx
f. CrowdPlus.Asia’s website: https://crowdplus.asia/index.php
g. Mystartr’s website: https://www.mystartr.com/
The platforms written are as for general referencing and applicants will need to study for the suitability before using any of the platforms.