Malaysia company incorporation

10 steps to incorporating in Malaysia

Incorporation of a company in Malaysia and opening of its corporate bank account are straightforward processes, which can be completed in five weeks. Our Client will not have to travel to the country, provided a Power of Attorney is issued to the Malaysia incorporation agent who will then complete all procedures on his behalf. The procedures are as follow:
business incorporation in Malaysia

    PRE-INCORPORATION

  1. Consultation: Our team and the Client agree on the following: i) proposed business activity ii) proposed company names (in order of preference) iii) share capital amount and iv) license requirements;
  2. Name reservation: Next, we perform a company name search with the Companies Registrar Suruhanjaya Syarikat Malaysia (SSM). If available, we complete Form PNA 42 to reserve the name for the Client’s company;
  3. Appointing resident directors: All Malaysian companies must appoint 2 directors who are ordinarily resident in the country. Our Client provides us the passport copies and address proofs for the directors. If not possible, we provide our Client our professional nominee director service;
  4. INCORPORATION PROCEDURE

  5. Document preparation: We prepare i) M&AA ii) board resolutions iii) director/shareholder consent forms iv) share allotment documents v) company registers and vi) auditor nomination letters. In addition, we complete Form A and email all for forms to the Client for their signature, notarization and courier return;
  6. Company Incorporation: Once we receive all the documents, we submit the same to the SSM to initiate the company incorporation process. Within 2 weeks, the company will be registered, after which we email the certificate of Incorporation (COI) to the Client;
  7. POST-INCORPORATION PROCEDURE

  8. Tax registration: We register our Client’s company for corporate tax by completing and submitting Form CP 600C with the Inland Revenue Board of Malaysia;
  9. Corporate bank account opening: Next, we open a local corporate bank account to support the Malaysian company. We work with internationally recognized banks including HSBC, SCB, and Citibank; and local banks such as Maybank, Public bank, CIMB bank and RHB bank. Immediately after bank account opening, our Client deposits the initial share capital of the company;
  10. Internet banking activation: Thereafter, we request the bank to activate internet banking and issue tokens to the company’s directors. We expect this process to be completed within 2 weeks;
  11. Support services: If requested, we provide our additional support services including i) applying for employee visas ii) locating office premises and iii) registering trademarks;
  12. Engagement completion: The Client engagement is now complete. We courier a full company kit to our Client, which includes the company’s original corporate documents, unopened bank correspondences and a Client feedback survey.

Factors to consider when incorporating in Malaysia

When incorporating a company in Malaysia, a license is required for the following business activities: i) manufacturing ii) banking iii) building and construction iv) oil and gas and v) wholesale and retail trade. Refer to this page for further details;

Post-incorporation compliance considerations for our Client’s Malaysian company include:

  1. Audit the financial statements – 6 months prior to the statutory Annual General Meeting our Client must appoint auditors in Malaysia;
  2. 18 months’post incorporation the AGM must be held and the Annual Return must be filed within 14 days of the same;
  3. Within 1 week of formally recruiting the first employee, our Client must complete registration with the Employee Provident Fund (EPF) and within 1 month register for Social Security Organisation (SOCSO);
  4. If annual sales surpass US$121,000 (RM500,000), our Client must register for GST with the Royal Malaysia Customs Department and complete quarterly reporting.

Contact us

For additional information on our company incorporation services in Malaysia, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Ms. Chrissi Zamora, directly:
client relationship officer - Chrissi
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