Malaysia is an excellent destination for new
companies. It is one of the developing countries that grabbed the attention of
expats around the world. There are opportunities to open various companies
here. Such opportunity comes with several legal bindings. To open a company
here, you have to go through several steps and procedures. As we go farther,
this article will explain those process step by step till end.
1. The first stage of company registration process is to hire a company secretary. He/ She carries out all the company registration procedures. The secretary will make draft of MoA, AoA, and all required registration forms. This staff is also responsible of submitting all paperwork to authorized body.
2. Propose at least three names for the company. The SSM will check and verify both your company registration papers and company name. The name approval might take 1 to 2 working days and a fee of RM 60.
3. Set paid up capitals at RM 5000. You can later on increase this amount according to your company needs and expansions.
4. It is compulsory to pay a government fees of RM 1010, to carry out all the registration process.
5. You should get your incorporation certificate within 2 working days. Mean that time company secretary needs to buy the super form from mydata SSM. He / She will also have to arrange board resolution in that time.
6. At this phase of registration process you have to open a business account in your company's name. Avoid local banks and go for banks like HSBC, UOB, OCBC.
7. You need to arrange a tenancy agreement for the rented commercial premises. The agreement should be valid for at least 12 months.
8. By this time you can check and verify your company in ESD. It is necessary to apply first to check the company status.
9. You need few business licenses in this stage. In general Premises license, Halal license and signboard license are of importance.
10. The final step of business registration process is to apply for employment passport. You must have a work permit in this country to work. At this point it is compulsory to hire foreign staffs. Through completing this phase, you now have all validations to start your company.
If you want any business help or keen to know in-depth procedures, consult with S & F consulting farm. Professional trade specialists here are ready to assist you in every business aspect. So, sit back and enjoy your cup of coffee, while experts here do all the registration process behalf of you.
Read Also: Howto Register A Company in Malaysia?
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