Malaysia is a country with various scopes and opportunities for business investors from all around the world. The country and its government have taken potential steps and introduced new laws and obligation to make their business market more lucrative and profitable at the most they can.
The country has also taken potent steps related to their foreign company registration procedures so that the foreign investors find more interest and feel easy to look forward in Malaysia with business purposes.
It is considered that the major sectors for investments in Malaysia are Gas, Oil, It, and Construction. Yet, the foreign investors look in for various foreign company registration in Malaysia regarding issues related to registration permits and limitations as because there are several other sectors i.e. garments, education centers, production, private services, jewelries and gems, mines and many other where the foreign investors can invest in both small and large scales.
Malaysia is also known for their remarkable holiday destinations and amusement sites which attracts thousands of tourists from around the world to visit the country every year.
Hence foreign company registration in Malaysia does not stay limited with business sectors related to gas, oil, IT, healthcare etc but also shows remarkable impact with hotels, restaurants and various food courts.
Malaysia is considered as one of the most prime developing countries among all other Asian countries in the world.
Their various promising business sectors and the drastic impact of foreign direct investments in Malaysia hence plays a major role in the economic growth and scale of the country.
Due to the immense level of interest and potentials shown by the investors around the world, hence foreign company registration in Malaysia has eventually become a hot topic to look into in today’s date.
This article can help you with all guidelines, documentation and approvals that one might require to know on how to set up their own business in Malaysia and how a foreign company registration in Malaysia can be carried through.
Often, we think what a foreign company is and what are the related acts and steps that should be taken to start a foreign company in a foreign destination. As per Companies Act 1965 (its called Sdn Bhd Malaysia company Act) a foreign company can be defined as a company, business firm, corporation, association or an authentic body incorporated or established outside of Malaysia.
The main fact of these foreign companies is said to be that the parent company or its head office or principal place of business is incorporated in a different destination from the nation or country in which they intend to do business in Malaysia.
It is also important to know that set up a foreign company in Malaysia or in any other nation is an unincorporated society association that is capable to sue or be sued by another business entity or personnel and can acquire property in a foreign location by the name of the company director, secretary and other official head appointed.
Well there are two important points that must be kept in concern when it comes up to the fact of registration of a foreign company in Malaysia.
They are, any foreign company in Malaysia can progress with their business in Malaysia by either Incorporating a local company with the Companies Commission of Malaysia (SSM) or by the means of authorized registration of the foreign company with SSM in Malaysia.
Let us now look into the key points of procedures for registration of a foreign company in Malaysia:
Well the registration of a foreign company in Malaysia can be demonstrated in two fundamental steps(it's necessary for FDI guide in Malaysia).
Step 1: Name Application
This step is mainly concerned with the availability and registration of the proposed company name by the investors. The business owners who intends to open their own business firm in Malaysia are asked to check the availability of the company’s name they proposed.
To check the availability of the proposed name given by the business owners a specific form is used. The form involved is called Form 13A. The company registration form for Malaysia must be requested from SSM.
The form should be completed with all valid details and then submitted back to SSM again. The submission and other checking procedures involves a fee of RM30.00 that is only valid for one proposed name.
The proposed name given by the company owner usually refers to the same name by which it is registered in the mother place of their business.
Step 2: Company Registration
This step simply starts from the point where the proposed name given by the company owners are approved – which means the name submitted can be used and be registered for future use.
Once again the company owners are asked to visit the SSM legal office and request for the Malaysia company registration form.
They must complete and compile the business registration form with all other necessary, valid and legal documents and submit to authorized member assigned in the SSM.
The submission of all this documentation along with the registration form must be done within 3 months after the proposed name is approved.
Registration documents needed for Foreign Company Registration In Malaysia:
For foreign company registration in Malaysia these following documents shall be submitted to SSM:
Note: If the foreign company has directors, shareholders and board of members appointed and who are said to be resident of Malaysia then a memorandum stating this officials powers must be executed over the foreign company and then submitted to SSM.
i. Original certified copy of Form 13A
ii. Authorized copy of the letter or proof sent from SSM approving the proposed name of the foreign company.
The cost or fees required for a new foreign company registration in Malaysia are given below:
The pricing is mainly related to a private company registration Malaysia in the name of S & F Consulting Firm Limited. These company in Malaysia is well renowned company and help foreign investors with all their queries and issues related to foreign company registration in Malaysia or in any other countries around the globe.
|Category||Business Advisory or Consultancy + Government Fee||Type of company|
|A||Total Package Costing: RM 5000 This price is the subtotal of new company registration fee and the professional fees in Malaysia.||This is mainly applicable for small companies those are service companies or general trading companies.|
|B||Total Package Costing: RM 5000 These pricing includes the foreign company registration in Malaysia formation, government issues & professional.||This is mainly applicable for medium size company and companies who intend to run import and export business in Malaysia.|
|C||Total Package Costing: RM 5000 These prices includes new foreign company registration in Malaysia by SSM and other professional fees.||This is mainly applicable for large size company: Manufacture company|
Now this table shows the Registration fees for Foreign Company registration In Malaysia:
|NOMINAL SHARE CAPITAL (RM EQUIVALENT)||FEES (RM)|
|Up to 400,000||1,000|
|400,001 – 500,000||3,000|
|500,001 -1 million||5,000|
|1,000,001 – 5 million||8,000|
|5,000,001 – 10 million||10,000|
|10,000,001 – 25 million||20,000|
|25,000,001 – 50 million||40,000|
|50,000,001 – 100 million||50,000|
|100,000,001 and above||70,000|
CERTIFICATE OF REGISTRATION
Authorized department in the SSM issues a certificate of registration to the foreign company. This certificate approval mainly depends upon with the registration procedures and submission of all legal and valid Registration Documents.