Malaysia Company Registration Steps and Feasibility

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Malaysia Company Registration Steps and
Feasibility
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Malaysia is one of the largest economies in South
East Asia and currently ranked 38th in terms of
the largest economy country in the world. Foreign
Direct Investment has a significant influence on
the economy of the country. The strategic
location, competitive positing and excellent
economy of the country, make it an attractive
place for foreign companies. On top of that, if
you are seeking for a perfect destination to
establish your business or existing branch of a
company, Malaysia can be considered as a great
choice. There are many businessmen, investors,
and entrepreneurs who are moving to Malaysia
because they found this country as a reliable
destination where they can find potential
customers for their business to earn more profits.
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Malaysia- A Reliable BusinessHub for Global
Traders

• Malaysia is known for its world-class
  infrastructure, stunning tourism
  heritage, mesmerizing cities, growing corporate
  office, etc. Apart from that, Malaysia offers a
  suitable corporate business environment, lowers
  taxes, security, stable GDP and economy. With all
  these positive features and aspects, Malaysia has
  now recognized the finniest country for global
  trading. As a result, more corporate giants are
  moving to the county to get more profitable
  business deals.

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Steps of Company Registration in Malaysia

• In Malaysia, foreigners are allowed to setup
  varieties type of company such as Limited
  Liability Company, Joint venture, 100 foreign
  owned company and many others. The registration
  of a company is not complicated if you know the
  procedures. The procedure of company registration
  may vary, which depends on the type of company.
• The Companies Commission of Malaysia is the
  governing body which deals with the approval
  of registering a company in Malaysia. The
  registration of a company must be done through
  the certified company secretary. The registration
  steps of a SDN BHD company are shown below-
• Company Name Search
• Preparation of company registration documents.
• Signing the documents of the company by the
  directors and the shareholders.

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• Submission of Forms that is- 24,44 and 49
• Submission of documents to SSM
• Collect the certificate of incorporation from
  SSM.
• Company Name Search Company name search is the
  initial step of SDN BHD company registration. The
  name search is done to check the availability of
  your proposed name. The name search can be done
  at the official website of the SSM. If the
  proposed name is available, it can be booked for
  a period of three to six months. It takes just a
  day to complete the entire procedure.

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Documents Preparation Submission You need the
necessary documents to proceeds your company
registration to the next steps. The documents
include shareholders passport copy, local
address and a copy of Article of
Association. Collect all the necessary FORMS from
Company Commission of Malaysia and fill up the
FORMS with appropriate information and submit the
FORMS to the SSM. Certificate of
Registration SSM will issue the certificate of
registration upon the verification of
registration documents. It will take around 5 to
6 business days to complete the verification
process. Once the verification is done, you can
collect the certificate from SSM.
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Appointing a Company Secretarial

• Formation of company in Malaysia required the
  appointment of company secretary. As a director
  of the company, you must designate a company
  secretary to handle the registration. The company
  secretary is one of the essential parts of a
  business- because they will deal with rule,
  regulation, code of ethics and guidelines during
  the process of company registration.

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Opening Bank Account

• In Malaysia, foreigners are not allowed to open
  a bank account in local banks. The opening of a
  bank considers more challenging than company
  incorporation. However, upon the terms and
  condition foreigner are permitted to open a
  corporate bank account in a foreign bank only.
• To open a bank account, the directors of the
  company must be physically present in Malaysia
  and must deposit RM 500000 as paid up capital.

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Conclusion

• Malaysia is a leading economy in South East Asia.
  The GDP of Malaysia is growing at a steady rate
  which increases the business opportunities in the
  country. The Malaysian government is working on
  several areas of the business to attract more
  foreign direct invests. Some part of the company
  registration process is moved online, making it
  easier for foreign business entrepreneurs to
  register a company in Malaysia.