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Things You Should Know Before Incorporating In Malaysia
Among the top investment locations, Malaysia ranks 24th in the 2018 World Bank's Ease of Doing Business report. Malaysia ranks highly in the World Bank's Ease of Doing Business index, but incorporating a business may seem overwhelming without appropriate guidance.
Incorporating a Malaysian company is in demand. Become familiar with why companies have been interested in Malaysia Business Registration, Sdn Bhd Registration, and establishing a company in Malaysia with Relin Consultants.

HERE ARE SOME THINGS TO KEEP IN MIND BEFORE INCORPORATING MALAYSIA
Who is eligible to incorporate a company?
The incorporation of a company in Malaysia is open to anyone who wishes to form one. It can be done by you or by an agent on your behalf. The person processing the incorporation must be familiar with the incorporation guidelines and process.
As a result, it is recommended that you acquire the services of an incorporation attorney in order to expedite the process and ensure its successful completion. Relin Consultants will provide you with a detailed quotation prior to engagement.
Formation of a company in Malaysia as per the Companies Act 2016
A company limited by shares, which provides limited liability status to its shareholders, is the most common business vehicle used to conduct business in Malaysia.
Forming a Malaysian company:
A minimum paid-up capital of RM1 is required.
A minimum of one (1) subscriber to the company's shares
There must be at least one director who is at least 18 years of age and resides in Malaysia. In the past five years, he or she has not been convicted of or imprisoned for bankruptcy or a criminal offense. Relin Consultants can offer local resident nominee director services if required.
There must be at least one company secretary (the company secretary must be a member of one of the prescribed professional bodies or licenced by SSM). You can obtain company secretarial services from Relin Consultants for a fee.
All communications and notices should be sent to the registered office located in Malaysia. In Malaysia, the secretarial office serves as the registered office.
In acknowledgement of your eagerness to proceed, Relin Consultants can assist you with the registration of your company, SDN BHD, in Malaysia as soon as possible.
Information required for the registration of a company in Malaysia
Names and meanings of proposed companies
The proposed company's principal business activities
A photocopy of each director's and shareholder's NRIC or passport is required.
A copy of the most recent resume and proof of the residential address of each director, such as utility bills (if the address differs from the NRIC), are
Information regarding paid-up capital
All directors, shareholders, and beneficial owners should provide their occupations, email address, and telephone number.
Shareholding percentages of each shareholder
Please provide us with the information of the beneficial owner if he or she is not listed as the named shareholder.
What is the source and origin of the funds used or to be used in the business? (For example, employment, business, and investment income from Malaysia.)
A Malaysian private limited company must have at least one resident director. Foreign nationals with a Resident Talent Pass (RPT) or Permanent Resident (PR) or MM2H may also be considered Resident Directors to register a business in Malaysia.
For the nomination of directors in the absence of these, you may consider subscribing to Relin Consultants' Nominee Director Services.
A Company's Incorporation Procedure
In general, incorporating a company with professional assistance is as simple as the following four steps:
Reservation of a name application
Document preparation for incorporation
Incorporation documents are signed.
Forms and documents to be submitted to SSM
If you are incorporating the company on your own, you will have to take additional steps.
To access the SSM online system, you must create an account on the MyCoID portal.
Activation of accounts at the SSM counter
Search for a company name.
Under "Name Search," you will find other information.
A super form to clarify the name of your proposed company
selection and description of business codes
incorporation fee of RM1,000
Are you considering starting your own business in Malaysia? With Relin Consultants, you will benefit from our extensive experience registering businesses in Asia. As part of our advisory team, you will receive assistance from a group of advisors from a variety of business fields.
These advisors can assist you in determining the most efficient corporate structure and business license requirements for your Malaysian corporation.
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How To Setup A Company In Malaysia As A Foreigner
Do you intend to establish a business in Malaysia as a foreigner? According to the World Bank, as the 12th-easiest country in the world to do business, Malaysia continues to draw in and keep talent from abroad.
To help you launch your business venture, Relin Consultants, in this post has listed 9 essential steps for incorporating a company in Malaysia.
1. Select a Business Entity
Before launching your firm, please consider your ideal business model and the business category you plan to register. In Malaysia, you can register 7 different types of business entities.
It is advised to speak with a corporate lawyer to better comprehend the various sorts of business structures. They would be able to advise and direct you as you complete the business registration procedure.
2. Search for Name and Reservation
Every business must unquestionably have a unique name and brand. The name of a firm aids the public in recognizing distinct businesses. By completing Form 13A, you can determine whether the name you are contemplating is available or not.
You would have to pay RM50 for each name search, and if the name was available, you could reserve it for up to 30 days.
Sdn Bhd or Joint Venture Sdn Bhd
You should contact the Registrar of Companies to reserve a name before forming an Sdn Bhd or Joint Venture Sdn Bhd.
Labuan Company
You must apply for approval with the Registrar and pay an application fee to reserve your company name before forming a Labuan company registration. The name may be reserved for three months, and approval will be given within 24 hours.
3. Business Location
Also, you'll need a company location or address. This is necessary for further procedures like opening a bank account and requesting work permits. If you live in Malaysia or want to visit, you can rent an office or, as an alternative, think about choosing a virtual office to save money.
4. Company incorporation
To create an Sdn Bhd, Joint Venture Sdn Bhd, or a Labuan Company, the following incorporation paperwork must be prepared:
Company's Constitution
A director or promoter's statutory statement that they are not bankrupts who have not been discharged and that they have not been found guilty of any crimes
Certification of compliance with the Companies Act's requirements
Every director's and the business secretary's identification card
Additionally, you need to send the letter from SSM approving the company name if you want to incorporate an Sdn Bhd or Joint Venture Sdn Bhd (but not a Labuan company).
5. Company Registration
Starting a Labuan corporation in Malaysia entails paying registration fees that range from RM 1,000 to RM 5,000. Depending on the size of the company's share capital, different registration fees apply to Labuan corporations.
A set fee of RM 1,000 is required to register a Sendirian Berhad company, also known as a private limited company.
6. Open a Bank Account
To better track the company's spending and income, it is strongly advised to keep your personal and business accounts separate. A tourist, business, or working visa is required for foreigners to open a bank account in Malaysia.
You must use a bank account you've already opened to apply for a Sales and Services Tax (SST) Number. Before the business can start operating, Royal Malaysian Customs must get the SST, which is obtained by providing the company with information such as its email address and registration number.
7. Licenses
You might need to apply for operating licenses depending on the sector in which your business operates. The food and beverage, land transportation, and tour operating industries all need licenses.
8. Tax Registration
The business must register with Malaysia's Inland Revenue Board to become a taxpayer. The following documents must be submitted:
Certificate of Incorporation (Form 9)
Information about the company's directors, secretary, and shareholders (Form 49)
List of shareholders (Form 24)
9. Employee Provident Fund
When a new employee is hired, an employee provident fund must be registered with the authorities. The first employee of the business must be hired within one week of this being completed.
Form KWSP 1, Form 49, copies of the identity card for the director, the employee's first payment, and a copy of the business's registration certificate would all need to be submitted by the organization.
As you may have noticed, establishing a business in Malaysia involves a significant amount of paperwork. As a foreigner, you might not be aware of the company laws in Malaysia.
For expert counsel and assistance, feel free to contact Relin Consultants whenever you are unsure. Our Malaysia incorporation services will make establishing a business more accessible and quicker.
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