fbpx Skip to content
C&CO CHARTERED ACCOUNTANTS

COMPANY INCORPORATION

company secretary service

COMPANY INCORPORATION

Company registration is the process to have a legal identity in foreign countries which will allow you to do business in that particular country. The rules and regulation vary depending on country to country. Some countries allow foreigners to register 100% foreign company, some countries require local to be a part of foreign company.

All countries have their particular guidelines & regulation, phrases & factors for foreign business registration. If you wish to start your own business in foreign countries, you should keep tracking the economic condition or growth of that country.  For foreign company registration requires few documents like passport copy, proof of address etc. After registration clients will receive company registration certificate, particular of directors, Particular of company secretary, Company bank account with foreign currencies etc.

Private Limited Company (Sdn. Bhd.) registration is one of the popular legal business structure option in Malaysia. Private Limited Company (Sdn. Bhd) is governed by Companies Commission of Malaysia (Suruhanjaya Syarikat Malaysia) and Companies Act 2016. To register a Private Limited Company (Sdn. Bhd.), a minimum 1 member (shareholder) and 1 director (ordinarily reside in Malaysia by having a principal place of residence in Malaysia) are required. A natural person can be both a director and shareholder, while a corporate legal entity can only be shareholder.

Unique features of a Private Limited Company (Sdn. Bhd.) like limited liability protection to shareholders and directors, lower income tax rate, corporate identity and branding, separate legal entity status and perpetual existence make it the most recommended type of business entity for millions of small and medium sized businesses.

Information Required for Private Limited Company Registration

  • Copy of all partners identity card (I/C) or passport (for foreign partner)
  • Proposed company name
  • Proposed business nature
  • Proposed address of the registered office (place to keep statutory documents)
  • Ordinary place of residence of every shareholder and director
  • Details of class and number of shares to be taken by every shareholder

Sole Proprietorship registration is the most common and simplest legal business structure option in Malaysia. Sole Proprietorship is governed by Companies Commission of Malaysia (Suruhanjaya Syarikat Malaysia) and Registration of Businesses Act 1956 .

A Sole Proprietorship is a business wholly owned by a single individual using personal name as per his / her identity card or trade name. To register a Sole Proprietorship, the business owner must be Malaysian citizen or permanent resident. Foreigner and corporate legal entity are not allowed to register sole proprietorship in Malaysia.

Unique features of a Sole Proprietorship like fast and easy registration, no corporate tax payments, less formal business requirements, winding up easily and lowest annual maintenance (Compare to other business vehicle such as Private Limited Company (Sdn. Bhd.) or Limited Liability Partnership).

It is suitable for newly start up business owners to try their new business strategy or explore into new market. Business owners may subsequently transform their business into Private Limited Company (Sdn. Bhd.) if they feel their businesses are stable/ aim to do bigger business. Sole Proprietorship will transform to Partnership if there are additional partners joined the Sole Proprietorship.

 

Information Required for Sole Proprietorship Registration

  • Copy of business owner identity card (I/C)
  • Proposed business name
  • Proposed nature of business of the proposed business
  • Proposed business address
  • Letter of approval from Government Agency (if applicable)

Partnership registration is the common and legal business structure option in Malaysia. Partnership is governed by Companies Commission of Malaysia (Suruhanjaya Syarikat Malaysia) and Registration of Businesses Act 1956.

A Partnership is a business owned by two or more persons but not exceeding 20 persons. Identity card name can’t be used as business name. To register a Partnership, the business owner must be Malaysian citizen or permanent resident. Foreigner and corporate legal entity are not allowed to register Partnership in Malaysia.

Unique features of a Partnership like fast and easy registration, no corporate tax payments, less formal business requirements, winding up easily and lowest annual maintenance (Compare to other business vehicle such as Private Limited Company (Sdn. Bhd.) or Limited Liability Partnership).

It is suitable for 2 or above newly start-up business partners to try their new business strategy or explore into new market. Business owners may subsequently transform their business into Private Limited Company (Sdn. Bhd.) if they feel their businesses are stable/ aim to do bigger business. Partnership will transform to Sole Proprietor if there is only one partner remain in the business.

Information Required for Partnership Registration

  • Copy of business owner identity card (I/C) of all partners
  • Proposed business name
  • Proposed nature of business of the proposed business
  • Proposed business address

Limited Liability Partnership (PLT.) registration is an alternative business vehicle under Limited Liability Partnerships Act 2012 which combined the characteristic of a company and a conventional partnership. Limited Liability Partnership (PLT.) is governed by Companies Commission of Malaysia (Suruhanjaya Syarikat Malaysia) and Limited Liability Partnerships Act 2012. To register a Limited Liability Partnership (PLT.), a minimum 1 compliance officer (partner who is a citizen or permanent resident of Malaysia or company secretary qualified under Companies Act 1965) are required.

Unique features of a Limited Liability Partnership (PLT.) like limited liability protection to partners, lower income tax rate, exempt from financial statement audit, separate legal entity status and perpetual existence make it a recommended type of business entity for millions of small and medium sized businesses. As Limited Liability Partnership (PLT.) is newly introduced in Malaysia at Year 2013, Companies Commission of Malaysia (SSM) allow Conventional Partnership and Private Limited Company (Sdn. Bhd.) to convert to Limited Liability Partnership (PLT.).

 

Information Required for Limited Liability Partnership (PLT.) Registration

  • Copy of all partners identity card (I/C) or passport (for foreign partner)
  • Proposed company name
  • Proposed business nature
  • Proposed address of the registered office (place to keep statutory documents)
  • Ordinary place of residence of every partner
  • Details of profit sharing and partners remuneration packages