Registering a company in Malaysia as a foreigner

Malaysia is South East Asia’s largest country and as such boasts a vibrant economy to match. With its vast ethnic variety and rapidly growing technology, Malaysia can be seen as one of the best countries for you to start up your limited liability company. The advantages to choosing Malaysia don’t stop here- as per Malaysian policy, even as a foreigner, you can own up to 100% of your company. Moreover, the start up capital needed to begin the incorporation process is much lower than other countries in South East Asia.

If you’re having apprehensive feelings about the process- don’t worry. Simply contact us at S & F Consulting, where we pride ourselves on making the process of company registration for you as easy and as fuss free as possible. In the meantime, have a look at the guideline we’ve provided below. You may use it as a checklist for all the processes involved for the incorporation of your company.

All business registrations will be conducted by the Companies Commission of Malaysia (SSM).

Steps to Registering your Company in Malaysia as a foreigner:

Company Name

You will need to register your company with an appropriate name. The name should be unique and not similar to the names of any pre-existing companies. Once you have decided on a name, as per requirement, you will have to conduct a name search and fill in a reservation. You will then receive a document with the aforementioned details.

Documents

In order to proceed, you will have to draw up documentation declaring that you are opening a private company. Then, you will need a supplementary document outlining your proposed business activities.

Official Address in Malaysia

The next step to your incorporation would be to find a suitable office location for your corporation. The official Malaysian address does not have to be the official business address.

Shareholders

By law, you are required to have at least two shareholders, above the age of 18 for your company (Section 14, Companies Act)

Directors + Company Secretary

Malaysian law also dictates that you must have a minimum of two directors for your company, with at least one of them being a resident of the country- whether by nationality or by a permanent residency. (Section 122, Companies Act).

Afterward, you will also need to hire an official company secretary, who has approval from the SSM, in order for you to proceed.

Details/Declarations of Agreements by Directors

The next step is to issue a document containing all details of the company directors as well as a signed letter from them that declares their agreement to the rules and regulations of the company formation.

Registration Fee

The next step is to pay the registration fee of RM 1000 to the SSM, along with this fee, you may submit all the above documents and wait for confirmation of your registration.

Bank Account

Once you have received certification of your incorporation, you will need to open an official company bank account.

Filing for amenities

After the opening of the bank account, you will need to file for the following amenities:

• Employee Retirement Fund
• Social Security Fund
• HR Training and Development

Annual General Meeting

Now, you must file for an official date to have your annual general meeting, this date has to fall within six months of the end of the fiscal year for your company.

To conclude, while the process of incorporation of your company in Malaysia may seem complicated, with our help, at S & F Consulting, the procedure will go along smoothly. Registering your company in Malaysia offers many benefits for you, including, but not limited to the possibility of 100% ownership of the company. If you’re still uncertain, be sure to contact us as we provide free advising.

Frequently Asked Questions

How much will this cost?

The registration fee is RM 1000

Does my resident director have to be a Malaysian National?

They do not have to be a Malaysian National, but they will have to have some form of residency certification.

Why should I choose S & F Consulting?

S & F Consulting services is a company registration consultant and we pride ourselves on being able to simplify the registration process for foreign nationals to set up their dream company in the country of their choice. Simply contact us with the details of your company and we will ensure the road to establishing it will be smooth and worry free!