You may know the process of Sdn Bhd company registration Malaysia as nonresident. Know the country, Malaysia, before starting a new business. Our discussion about how to register a company in Malaysia will focus on steps of formation. Sdn Bhd company can register by Ringgit 2 only. Apart from registration S & F assist to obtaining business licenses. Major important licences are import, export, ESD, WRT, Halal and Signboard. FDI inflow is increasing day by day (Foreign Direct Investment) in Malaysia. FDI record by WB $ 11,507, 697, 706 in last year that is a good sign of economy.
As being developing country, economy of Malaysia is always upholding. Foreign investors are committing to uplift the economy along with local. Lower population density in Malaysia 32, 126, 269 while the geography area is about 325,000 square km.
Economy and FDI in Malaysia
Unemployment rate is a bit higher than inflation rate 3.1. Major export countries are USA, China, Thailand, Singapore, Japan, India, and Indonesia. Currency of Ringgit is 4 times smaller than US$. Foreign investment tax rate should reduce with more facilities to increase of economy. Why Singapore is more development country as foreign investment rate is higher. Major foreign investment sectors are Oil, Gas, construction, IT and others. Main cities of Malaysia are Kuala Lumpur, Ipoh, Johor Bahru, George Town, Malacca and Penang. But now a day Putrajaya is a clean and plan base city that attract foreigners.
Investment and paid up Capital
Investment, paid up capital in Ringgit 5000 is ok at the beginning, later increase as need.
One good format of business registration is Sdn Bhd and investment need 5000.
To start export and import business increase capital in Ringgit 500,000/-
To start manufacture company, show capital in Ringgit 5000 later increase 1 million.
If you do not have plan to apply of work permit is good advised to show capital in Ringgit 5000 only.
To start a service business, show your paid up, investment, capital in Ringgit 5000/-
Those businesses relating of retail and wholesale are good advised to show paid up 1 Million.
Holiday in Malaysia
There are fifty days holidays as government declaration. Standard office days are Monday to Friday, time 9 am to 5 pm. There are two holidays in week, Saturday and Sunday.
When speak with a representative of consultancy firm you cannot see the real picture. There are many firms who is the right one to pick is difficult. The choice one whom you selected firm have no real secretary. As secretary will proceed of registration and flying secretary create big issue. The process of sdn bhd company is not complicated but all process should be as SSM need. Foreign investors like to open sdn bhd company by 1 shareholder.
Permission Authority Company Share %
SSM Foreign ownership 100 percent
SSM Joint Venture 49 percent foreign
SSM Branch Office 100 percent parent
16 steps of Company Registration
Hire a company secretary
Let secretary prepare MoA and Forms
Three Proposed company name let secretary check if available
To remember, name approval might need 2 days
Set paid up capital, at initial in Ringgit 5000.
Pay government fees in Ringgit 1010.
Name approval fees in Ringgit 60 (sixty).
Submit all papers to SSM by online
Company Incorporation will complete by 2 days
Let secretary buy super form from mydata ssm
Secretary will prepare board resolution
Open bank account in OCBC, Standard Chartered and UOB
Rent an office with tenancy agreement (1 year)
Apply for business licenses (signboard, premise, import, Halal etc).
Apply to ESD to check and verify your company
Apply for employment pass and hire foreign staffs.
Joint Venture Company registration in Malaysia
JV company incorporation capital need in Ringgit 5000 at the beginning. Later increase up to 350,000/- if have intention of employment visa application. The difference of 100 % ownership is 350 K instead of 500000/-. Local partner should hold majority shares of the company. We recommend holding 80 percent shares by local if apply for work permit. Tax calculation will be imposed as shareholding proportion. Moreover, WRT license application is getting exemption being local partner.
No meaning if buy shelf company as registration from SSM takes 4 days. Shelf company is good to buy where business registration takes long time. Be careful of debt and history of shelf company before buy. As bank account is easier so why need to buy shelf company is meaningless. Cost of buying shelf company is higher than open new company.
Steps of company registration Malaysia for foreigner
Search in Google “Company registration consultant in Malaysia” and call S & F.
Speak with representative of S & F Consulting Firm.
Ask them unknown questions to make you 100 percent clear.
Discuss over phone about licensing after company registration.
How many licenses need as your nature of business?
How much paid up is suitable for your business take a good advice.
Ask them to know what the process is of applying work permit.
1 shareholder is the need as SSM instruction to form a sdn bhd company.
At most fifty shareholders can add in one company.
Nature of business select in one sentence, for example Accounting service provider.
Speak with real license company secretary as 90% are flying secretary.
Complete discussion about total process and professional fees
Let CS start the process of registering a company name
Fill up a form where basic information and bankruptcy declaration are mention.
Open bank account in prior advisory with S & F consulting Firm.
Ask your secretary (our company secretary) to prepare board resolution of bank account.
Apply for other licenses as need considering the nature of business.
Discuss with representative of S & F Consulting Firm about work permit.
Assign license representative of S & F to apply for signboard & Premise license.
EFP and SOCSO number manage by S & F team to contribute them.
Let S & F Team apply for Income Tax Certificate (Corporate).
Let S & F handle to apply of Halal, import, ESD & notification license.
About Company Secretary Malaysia
• Company secretary must hire for every Sdn Bhd company
• Company secretary can be a license and ICS qualified member
• Company is not a shareholder but legal guardian
• Hire secretary by good payment as honor
• Share transfer jobs are under secretary
• New director appointment and share increase are undersecretary job
• Any board resolution including AGM are secretary responsibility
• Annual return submission and liaison with auditors are secretary responsibility