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Online Company Registration and Formation in Malaysia

Malaysia with recent ranking given by the World Bank is considered as the top 6th country in the world as the easiest and friendliness in doing business. It is an upright place of growth in regard to its stability, affordable living with an abundance of business investment opportunities.

The registration of companies is done by Suruhanjaya Syarikat Malaysia (SSM) or known as the Companies Commission of Malaysia under the provision of the Malaysian Companies act.

Types of Company registration in Malaysia:

In Malaysia the foreign investor can invest mainly in Two ways as described below:

1. Company Limited by shares: A company limited by shares can be incorporated by involving 100 % foreign ownership, either as a private limited company which can be identified through “Sdn. Bhd” which is appearing together with the company’s name or as a public limited company which can be identified through Berhad’ or ‘Bhd’ appearing together with the company’s name.

2. Unlimited Company: In this category also, an organization can be incorporated either as the private or public limited company but the liability of its members must be stated in its Memorandum of Association as unlimited.

In Malaysia, foreigners are not allowed to incorporate sole proprietorship, enterprise or LLP companies in Malaysia.

Minimum requirements for company formation in Malaysia;

a. At least two directors;

b. At least two subscribers;

c. A company secretary, who can either be a member professional body prescribed by the Minister of Domestic Trade Cooperative and Consumerism or an individual to whom a license has been provided by the Companies Commission of Malaysia (SSM)

Procedure for company registration in Malaysia:

· The first and foremost step in regards to incorporation is to check the availability of proposed name by Referring to Government Gazette, which provides Guidelines for Naming a Company and For Application of a Company Name.

Steps involved in filling a name availability application are:

· The application is Filed in the Name application form 13A CA (Request for Availability of Name) with the proposed name along with the payment of prescribed fees for each name to SSM.

· After receiving an application SSM will check and process the application, if the name is available then, the same must be approved by the SSM and shall be reserved for three months from the date of its approval.

· Within the three months from the date of approval of name following documents need to be submitted to the SSM:

A. Memorandum and Article of Association

B. A Statutory declaration by a Director or Promoter before the appointment that they are not bankrupt and has also not been convicted and imprisoned for any prescribed offenses.

C. A declaration by Company Secretary whose name is stated in the memorandum of association that all compliances relating to registration has been complied.

D. Along with the above documents, an original copy of name application form 13A, SSM letter approving the name of the company and copy of the identity proof of each proposed director and company secretary need to be submitted.

· After the submitting of documents, if SSM is itself satisfy, to believe that all requirements as per the law have been compiled with a prescribed fee then, a Certificate of Incorporation is issued.

· After the incorporation, the company shall obtain the required license/permit/approval from the relevant authorities before commencing the business.

Detail information is provided on our website www.enterslice.com

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GST Lecture 5

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For more details for FSSAI Registration, You may visit this page: https://enterslice.com/fssai-registration

Types of FSSAI Food Handlers License: Basic Registration, State and Central License

The Food Standards and Safety Authority of India (FSSAI) is responsible for regulating and supervising the food safety. Obtaining a FSSAI certificate has now become mandatory for all manufacturers, traders, restaurants and all those involved in food business, commonly known as Food Business Operators (FBOs).It is mandatory for all the Food Business Operators (FBOs) in order to obtain a food service license.

The misunderstanding or confusion which is among the FBOs is the license which the businessman is required to obtain. The FSSAI works toward setting scientific standards for articles of food, to regulate their manufacturing, storage, distribution, sales, and import. It is mandatory for any startup or company with a plan to enter the food retail business to get an FSSAI license. This is started by the Government of India to ensure the food produced, distributed or imported set by the food authority and thereby avoid problems such as adulteration and inferior qualities of food.

This article focus on the different types of food handlers license which is issued by the authority.

In FSSAI there are three different types of food licenses:         

Central License for enterprises with a     turnover of over Rs. 20 lacs

State License  for single-state hotels,     restaurants, and medium-sized food manufacturers with annual turnover of Rs.     12 lacs to Rs. 20 lacs

Basic Registration for single-state     businesses with annual turnover of under Rs. 12 lacs

  FSSAI License Applicable to:

As per new FSSA Rules, 2011 all existing and new Food Business Operators (FBO) has to mandatory convert their existing PFA, FPO, MMPO Licenses to new FSSA License. It is mandatory to obtain FSSAI License before

The three licenses, however, differ on the basis of the scale of operation of the food business which is being carried out. The following is the detailed information on the three food licenses.

1.       Central License: Central food license obtaining under food business operators such as the  Importers, Export Oriented Units, large manufacturers, operators in the  Central Government agencies, airports, seaports etc . The Central license is issued by the Central Government.

2.     State License: FBO’s like small to medium sized manufacturers, storage units, transporters, retailers, marketers, distributors etc. are however need to obtain the Fssai State License .This License is issued by the State Government and in only 1 state.

  3.     Basic Registration: The Food business operators like petty food manufacturers and also the small-sized manufacturers, storage units, transporters, retailers, marketers, distributors etc are thus required to obtain the FSSAI Registration. The FSSAI Registration is however issued by the State Government.

We are fssai license consultant & fssai registration agent offer FBOs to obtain food service license in the less time so that they can start business comfortably. From filling the FSSAI application form to obtaining the right license, our FSSAI experts will guide you on the Licensing procedures & provide solutions to all your queries.

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Amazing Article. If you’re looking for a trusted registrar for Company Registration in India, You can always contact Enterslice.

How to Register a company in India?

Hey friends,

As a services provider, here I am taking pleasure to write about the Company Registration. If you are looking for going to start a company, there are so many things that we have to look after.

Types of Company:

One Person Company

LLP Company

Pvt Ltd. Company

Partnership Company

Proprietorship Company

Section 8 Company

Indian Subsidiary

Producer Company

Starting a business is one of the most amazing feelings in the world. We all want to become our own Boss coz no-one likes working under someone and facing issues such as Achieving Target, Timing Issues, No-freedom, etc. In the age of the internet, it has been easy to start a company in India. If you are thinking about any problems, you may find solutions within a minute just by searching in the web world.

There are numbers of Consulting Firms which can assist you with your all queries. GSB Taxation is one of them. They are a large team of professionals and offer services across all over India. They have been serving for more than 10 years across all over India.

How to Register a Company?

There is a process of registering a type of company in India. It depends upon the person to choose the type of company he wants to register.

Visit www.gsbtaxation.com and choose the services you want to get.

Request a Call Back or Fill the query form and get the response as soon as possible.

Get the Quotation on email.

Pay the 50% amount.

Email your all essential documents.

Get the Application done.

Enjoy quick & hassle-free services at your door.

Benefits of a Company Registration:

Limit of Personal Liability

Minimize your tax liability

No Conflict with founders

Legitimacy and Brand Awareness

Significant Capital.

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Shareholders Agreement - How to Form NBFC Shareholders Agreement

An NBFC is an organization which is occupied with the matter of credits and advances and obtaining of the diverse sort of protections gave by the administration. It is a sort of organization which is consolidated according to the organization's demonstration, 2013 and which needs to get the permit from RBI to begin its tasks according to segment 45-IA of the RBI demonstration, 1934. RBI issues time to time headings for NBFCs.

In Non-Banking Financial Company there are shareholders just as endorsers. Shareholders are the genuine proprietors of the organization as they contribute capital, and they should execute a concurrence with the organization to expertly complete the tasks of the organization identified with account exercises. Shareholders' understanding depicts the rights and liabilities of the shareholders.

Why there is a requirement for executing the Shareholders Agreement?

Shareholder's understanding is primarily executed to determine debates among the shareholders and the organization as we can't state that no question will emerge in the future. To keep up a reliable connection between the shareholders and the organization, shareholders' understanding incredibly encourages us.

It is additionally useful in speculation assurance which is made by the Shareholder. For shareholders, rules and guidelines are set down under the shareholder understanding. It is imperative to manage the terms for the shareholders of an organization.

While drafting an understanding, it ought to be remembered that there is a distinction of assessment of each individual or they could conceivably concur with the evaluation of one another on the topic concerned.

What will be the components of shareholder's understanding?

The accompanying must be considered while drafting Shareholder's understanding in NBFC:

1.    The extent of holding shares by the Shareholder

2.    Description of class of offers based on the classification of shareholders, for example, minority, the lion's share, and the originator shareholders.

3.    In the instance of a new issue of offers in the market, then the current shareholders will get the benefit of the latest offers.

4.    Rights of the top managerial staff if there should arise an occurrence of issuance of any such share or offer exchange.

5.    Rules in regards to share move.

Also, Read: https://indiancablog.blogspot.com/2019/11/limited-liability-partnership.html

What are the essential highlights of shareholders' understanding?

1. Shareholders Consent

There are conditions and circumstances where the Shareholder's consent is required in more significant part matters.

In the accompanying beneath referenced issues, shareholders assent is vital:

At the hour of the arrangement of part i.e., chief, any individual from the supervisory board is designated;

•    For drafting a budget summary or for-profit dissemination;

•    To correct the articles of affiliation;

•    Forgoing into amalgamation;

•    For seeking financial protection

•    At the hour of disintegration

2. Debate Resolution

We can't state that debates won't emerge while making an interest in an organization. Accordingly, the organization ought to set itself up for such disputes that may occur in the future. Questions don't have to be interior; however, it might work likewise with the adversary organization or focused organization. For settling, issues with the shareholders, out of court settlements are favored by the organizations, for example, mediation or placation between the organization and shareholders.

3. Offer exchange confinements

There are a lot of rules in regards to the offer exchange in Shareholder's understanding under which offers can't be effectively moved. There will be a standard that the current shareholders must take a composed agree for share move. Be that as it may, this standard will not make a difference in such a situation where an individual from an organization kicks the bucket as after the passing of the part shares are moved to the legitimate agents/beneficiary in a family.

4. Purchase out Rights

There will be a proviso in Shareholders' understanding with respect to the purchase out rights which will express that in the event that Shareholder is discovered inept because of specific conditions, for example, passing, handicap, chapter 11 or conjugal disintegration, at that point the organization or the current shareholders of the organization is qualified to purchase the portions of such Shareholder. There will likewise be a statement naming "removal" under which the existing shareholders can oust any unwanted shareholder, and they can also obtain his/her offers.

What are the things which must be considered while drafting a shareholder's understanding?

•    A shareholders' understanding should be comprehended so that why there is a requirement for making harmony between the enthusiasm of the shareholders and the interests of the organization.

•    Terms ought not to be equivocal yet it ought to be precisely constraining the understanding of terms as wide elucidations may cause trouble over the long haul.

•    The rights and commitments of both the gatherings (shareholders and the organization) ought to be rattled off.

•    Clauses in regards to as far as possible of the shareholders' relationship with the organization ought to be spread out in an understanding.

•    The condition concerning question goals ought to plainly express the method of debate goals, the spot of contest goals and forces and obligations of question goals.

•    Shares move limitations ought to be unmistakably expressed alongside the procedure of offers move.

The previously mentioned focuses are insufficient, but instead, there are some different focuses additionally which ought to be remembered. One should contact an expert for a point by point investigation, who may help in drafting the equivalent.

End

To ensure the intrigue and to spare the organization from misfortunes, Shareholder' understanding ought to be executed. Key arrangements must be considered while drafting a shareholder's agreement and to make a harmony between the enthusiasm of the Shareholder and the excitement of the organization.

Source: https://enterslice.com/shareholders-agreement

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NBFC License registration in India – Enterslice

NBFC License registration in India is now as easy as registering any other company. We at enterslice helps individuals or companies to register and set up their businesses in India.

NBFC Stands for Non-Banking Financial company. Get NBFC License Registration with RBI through the help of experienced consultants. Enterslice is one of the most trusted CFO firms in India that helps new and existing businesses to set up their market.

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An Independent director is a part of the board of directors of a company that does not have any relation to the company related to material, or pecuniary matters of the Company. They charge their sitting fees and are those who are not in the whole-time employment of the Company. However, the management seeks guidance in a professional capacity for making decisions from the Independent Director.

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If you are on the verge of starting a business, then you must read this blog about business commencement procedure. This blog can provide you with all the information on the Private Limited Company incorporation procedure. A private Limited Company is one of the most preferred types of business entity. Also, through this blog, you would get to know about the other type of business entities.  The information will enhance your knowledge to help you decide which type of entity you finally want to go with.

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MSME Loan is a type of loan provided to owner of Micro, Small or Medium Enterprises to help them improve the financial conditions of the existing businesses and to encourage starting new businesses.

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Form FC-TRS is to be submitted to the designated AD branch in quadruplicate within 60 days from the date of receipt of funds regarding-Transfer of sharesCompulsorily and mandatorily convertible preference shares (CMCPS)/Debentures,Others by way of sale from resident to non-resident/non-resident to resident.

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Entrepreneurship Skill Development Programme -ESDP and Assistance to Training Institutions -ATI are schemes under the Entrepreneurship & Skill Development Programs governed and initiated by the Ministry of Micro, Small & Medium Enterprises. Let’s learn about these schemes in detail in this blog.

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Director is considered as the face of the Company and they are the ones who make the decision on a day to day basis. As per section 149(1) of the Companies Act, 2013 only an individual can be a Director of the Company. If the Board of Directors wants one or more Director to be appointed in a Company for any reason and without conducting annual/extra General Meeting, the Board can appoint an individual as an Additional Director of the Company.

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The tax regime of every country is an integral component of its economy since it is one of the primary sources of government funding. In India, the Income Tax Act, 1961 was enacted for levying a tax on services & products or income of the Indian residents. The Indian taxation system levies tax on an assessee income based on several criteria. One such criterion is the “residential status” of the assessee.

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#Enterslice

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#Enterslice

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Online MSME Registration, Process, and Benefits in India. Watch this amazing video (in Hindi) by Mr Narendra Kumar and take a deep dig for MSME in India.