Business Incorporation

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Are You Thinking of to Start Up Your Business in Malaysia?

A Complete Guide to Company Set Up Malaysia with Ha & Co. Chartered Accountants

Are you looking to expand your business in Malaysia? Ha & Co. Chartered Accountants is always here to step by step guide you through the process. So don’t be afraid of where to start and how to start. Our expertise in incorporation company in Malaysia makes us the ideal partner to ensure your successful entry into this dynamic market.

What Are The Mandatory Requirements to Set Up a Malaysian Company

To ensure compliance with local regulations. Here are the key requirements:

1. Minimum 1 Director:

At least one director to manage the affairs of the company.

At least one shareholder is required to hold shares in the company.

3. Minimum 1 Paid-up Capital

At least RM 1 paid-up capital is required which can vary based on the type of company.

4. Local Registered Office:

A registered office in Malaysia is required where official documents and notices can be sent.

5. Minimum 1 Company Secretary:

Appointing a qualified company secretary is mandatory within 30 days of incorporation.

What Are The Necessary Documents Required for Malaysia Company Incorporation

The required documents for Malaysia company incorporation can vary depending on the type of shareholder or director. Here are the documents you may need:

For Malaysian Resident Shareholder/Director:

- A Copy of Malaysia IC/ Passport

For Non-Malaysian Resident Shareholder/Director:

- A Copy of Passport

- A Copy of residential address proof, such as utility bills, telephone bills, internet bills, bank statements, tax bills

If the Shareholder Is a Corporate Entity:

- A Copy of certificate of registration of the company

- A Current extract of company particulars from the Company Commission of Malaysia, i.e. Annual Return Form

- A Copy of the constitution of the company

- A Copy of the resolution approving the incorporation of the Malaysia Company and the proposed shareholding of the company

What Are The Important Process of Incorporating a Malaysia Company To Kick Start?

The process of incorporating a Malaysia company involves the following steps:

1. Complete Our Online Form:

Fill up the online form required details and attach with the necessary documents, such as the three proposed & preferred company names, director and shareholder details, nature of the company's business activities, and copies of the ICs of the directors and shareholders.

2. Quotation:

We will prepare a quotation based on your requirements, outlining our service packages with estimated pricing, and the time needed to kickstart the incorporation process, ensuring a complete and transparency throughout the whole incorporation process.

3. Know Your Client (KYC) Check and Name Search:

We will perform a Know Your Customer (“KYC”) check and conduct a name search with the Companies Commission of Malaysia (SSM) to verify the availability of your proposed and preferred company name.

4. Submission and Incorporation:

As soon as your business's name appears in the system, we start preparing the paperwork for your signature and submitting the application to form the company.

5. Timeline for Incorporation:

The complete process of incorporation normally takes five (5) to seven (7) days. But Ha & Co. Chartered Accountants has a history of registering businesses in just one (1) working day after directors and shareholders sign the incorporation forms in our office. It's important to remember and take note that the timetable for incorporation is dependent on the availability and reliability of SSM's MyCoID online system, as well as the accuracy and completeness of Malaysian company registration information and paperwork.

Why Select Ha & Co. Chartered Accountants as Your Business Establishment Partner in Malaysia?

We are aware that, as a startup, you will have to pay a great deal of expenses until your company begins to turn a profit. As a thank you, we would like to extend to you the following perks, which are completely free of charge, AT NO COST TO YOU.

- Free of Cost Services for New Businesses:

For new businesses, we provide complimentary services like:

Registered Office Address: It's free! You may use the Company Secretary's address as your registered office for a period of one year.

Board of Resolutions: It's free! board decisions approving the establishment of the first company's local bank account.

First Meeting Resolutions: It's free! First meeting resolutions from the board and members.

Certified True Copies: It's free! First local bank accounts and first banking facility opening documents in certified true copies.

So, What Are You Waiting For? Contact Us Now for More Attractive Incorporate Company Packages

Start your journey of company setup and registration in Malaysia with Ha & Co. Chartered Accountants and let us help you to establish your presence in this dynamic market. Our attractive incorporate company packages are designed to make the process seamless and cost-effective.

Don't wait, the time to expand your business in Malaysia is now. Contact Ha & Co. Chartered Accountants and take the first step toward a successful venture in this dynamic market. Your success story begins with us. Click Contact us today to get started.

No nation can prosper without stabilizing its economy, and Malaysia is no exception. To stabilize the economy, the generation of business activities is crucial.

Malaysia has revolutionized its business infrastructure and ecosystem, taking its economy towards a boomperiod, and we have witnessed the efficacy of the latest policies, especially in the last decade.

Today, Malaysia is among the most suitable countries for business purposes, and it has encouraged not only locals but also foreigners to start their businesses in Malaysia.

But like any other country, you will need to come into the legal net and go for incorporation company Malaysia to get the maximum benefits of Malaysia's economic reforms.

Even though the policies around company setup are simplified, they can still become overwhelming and complicated for someone who is not an expert.

Ha & Co. provides its services for company registration to play its part in the economic growth and facilitate businesses to conduct their operations legally.

Types of Company Registration:

Like other countries, Malaysia also classifies businesses and companies into different categories, primarily based upon their structure. Each type has its different documentationrequirements, procedures, and benefits, Ha & Co. can help you with all these types.

We are listing them down with some basic information so you can make the best choice for your business.

1. Private Limited Company:

When it comes to incorporating a company in Malaysia, Private Limited Company is probably the most popular type.

The key benefit of a Private Limited Company is that the shareholders and directors get limited liability protection. Other benefits are that it gets the status of a separate legal entity, a lower income tax rate, corporate identity and branding.

For a company to setup in Malaysia as a Private Limited Company, there has to be at least 1 director who is a resident of Malaysia and at least one shareholder that can be a natural person or another private entity. The director can also be a shareholder at the same time.

Such company registration comes under the Companies Commission of Malaysia and is registered under the Companies Act 2016.

2. Sole Proprietorship:

A sole proprietorship is the most straightforward kind of incorporation company Malaysia.

For registration, a person can use his/her own name as his/her trade name and be all-in-all ofhis/her business. The only requirement is that the person has to be a Malaysian citizen or a permanent resident. This option is not available for corporate legal entities or foreigners.

The key feature as a sole proprietor is that there are no corporate tax liabilities. The registration process is quick and easy. Sole proprietorships also have the lowest annual maintenance compared to the other types and have to follow less formal business requirements.

It is governed by the Companies Commission of Malaysia and comes under the Registration of Business Act 1956.

3. Conventional Partnership:

A conventional partnership is the mostpoplular businessorganization in Malaysia for those who want to partner with someone in their business venture.

There has to be more than one person and up to 20 persons who can be the co-owners of the same business. Each business owner has to be a Malaysian citizen or a permanent resident, whereas corporate legal entities and foreigners cannot be partners in this type.

Partnership gets the same benefits as a sole proprietorship, comes under the Registration of Business Act 1956, and is governed by the Companies Commission of Malaysia. But the business's name cannot be the name of a person.

There is no option for a conventional partnership to be converted to a Sdn Bhd. Instead, the partners in aconventional partnership have to dispose of their partnership business (or parts of the partnership business) to the Sdn Bhd. The sale may attract stamp duty or real property gains tax, as the case may be , or the owner can opt for sole proprietorship if all the partners leave.

4. Limited Liability Partnership:

Limited Liability Partnership is Malaysia's most recent type of company setup, introduced in 2013.

Such registration combines the features of a partnership and private limited company. The partners have a limited liability.But they still get to be partners instead of shareholders.

In terms of registration, there has to be a compliance officer who is a citizen or permanent resident of Malaysia or a qualified company secretary specified by the Companies Act 2016.

The key features include a blend of both private limited companies and limited liability partnerships as the partners get limited liabilities and an exemption from the production of financial statements and audits. However, the company gets lower tax rates and the status of a separate entity.

As the limited liability partnership is registered under the Limited Liability Act 2012 and governed by the Companies Commission of Malaysia, it is possible to switch to a private limited company.