Company Formation Malaysia
Updated on Monday 07th May 2018
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This is a country with one of the strongest economies in Southeast Asia and one of the most competitive economies in the world. With its international trade and manufacturing, but also with its large banking center, Malaysia attracts more and more foreign investors wanting to set up a company on its territory.
Types of companies in Malaysia
There are various business entities to choose from when wanting to open a company in Malaysia and these are some of them: the limited liability company, the sole proprietorship and the partnership, but you can also choose to establish a branch office or a representative one.
However, the most commonly preferred is the limited liability company and here are the few requirements that need to be met:
- two shareholders;
- minimum share capital of 2 RM;
- at least two directors, one of which has to be a resident or a citizen of Malaysia, the nationality however not being of any importance;
- a company secretary who needs to have a Malaysian residency.
An advantage of forming a company in Malaysia is that the company can be 100% foreign-owned. The company can also benefit from some grants, if 30% of the shares are owned by Malaysians; in this case, the status of the legal entity would turn into Bumiputera limited liability company.
Steps for registering a company in Malaysia
1. At the Companies Commission of Malaysia, you need to file the required documents; since 2013, you have to search for the authenticity of the company's name and reserve it online. Our specialists can guide you through these procedures and take care of them in the shortest amount of time.
2. The incorporation documents need to be prepared by the company's secretary and provide an official declaration of compliance.
3. The next step is obtaining tax registration, company incorporation, company seal, statutory books and documents after filing the required papers with the Companies Commission of Malaysia.
4. Last, you have to pay the registration fee which depends on the share capital. This is also done at the Companies Commission. Some of the papers that need to be submitted are: the address of the newly registered company, the declaration of compliance and the approval of the company's name.
The company registration process in Malaysia should not take more than a week and our company formation specialists can help you with all the procedures. Our team covers a wide range of possibilities in assisting you with your business preparations. For more information about how to form a company in Malaysia or in other countries, please, do not hesitate to contact us.