As 2019, we have noticed, around more than 200 companies are registered in daily basis. As Malaysia register company process, there is 1 shareholder need, at least 50 at most. Foreigners are recommended to register company as Sdn Bhd as sole proprietorship is not allowed. The process will take no longer than 5 days to complete. Speak with expert, S & F Consulting Firm, to save time and money. Register company in proper way as planning of your vision. Let company is registered and applied for visa that is approved. After 2 years your visa is not renewed by immigration of Malaysia. Now what a bad situation you are in just imagine. Other hand, your Malaysia register company is done but bank account is rejected. How will you do business without account and visa in Malaysia? So, do you think you need a proper guide as foreigners? As law and process changes upon nature of business. Procedure in all cases are not same to register Sdn Bhd company. The following will make clear of Malaysia register company as Sdn Bhd:-
|Register company||Sdn Bhd||Proprietorship and partnership|
|Shareholder||1-50||More than 50|
|Investment capital to register||4000-500000||1 Million (Unless WRT)|
|Bank account||Foreign banks||Local banks|
|Visa after register company||ESD approval must||Direct application|
|MM2H||Apply as solution of residence||Thinking for a longer|
|Cost of register company||RM 4000||RM 1000|
|Timeline of Malaysia register||3-5 days||1 day|
|Other licenses after register||Signboard, premise, EPF and WRT||If no apply for same|
Top 10 requirements of Malaysia register company (SSM Registration)
- One residence and business address
- One secretary hire for the company
- Email and contact number of shareholders
- Share capital is recommended of Ringgit 4000
- Increase capital later as maximum as need upon business
- Open bank account after register a company
- Apply for signboard and premise license
- Rent an office upon tenancy agreement
- Hire manpower by advertisement in www.jobstreet.com.my
- Appoint a supervisor to take care business in your absence
Advantages to register company
There are many issues comes when register a business in Malaysia as foreigners. Still, Malaysia is the best place to do trading and better than Singapore. Bank account with foreign banks to enter into international market. Manpower cost still cheaper than Singapore. Being big country a wide range of market hits to profit within short time. No headache of local partner and nominee director to appoint like Singapore. Malaysia register company is the right choice for any nations. Service sector, manufacture, export and import businesses in any nature are allowed except some others. Income tax rate is 6% as SST policy and 16 percent in manufacture business.
Disadvantages of registering company
Along with advantages there are some disadvantages like bank account, visa and local staffs. Cost of transport, factory setup, hiring labors are expensive. Local banks just hate foreigners to assist opening bank account. Immigration department of Malaysia consider another citizen as beggar. Once visa is approved to reside makes more headache if no visa is renewed after 2 years. Let, you applied to renew obtaining visa but takes long time to approve same. By this time how will you stay in Malaysia as expired already!
How much investment capital is need as your nature of business? Did you discuss with expert, S & F Consulting Firm? What business will you register, service, production or general trading? Investment capital vary upon nature of business. We recommend in Ringgit 4000 if nature of business in Malaysia register company is service. For all others nature of businesses might need 500000 to 1 million upon type of business. At the begging register a company by Ringgit 4000 to 5000 showing capital and increase later.
It is a major issue in Malaysia as most of the bank applicants are rejected without showing any valid reason from bank. Local banks never allow foreign shareholding companies to assist. Few banks follow international banking policy to remittance comes in and out. Imagine you have registered Sdn Bhd company but failed to open bank account! You have been refused from all banks those are recognized. The few foreign banks have requirement of initial deposit money in Ringgit 50,000.
- Office rent with tenancy agreement
- Number of staffs
- Signboard and premise license
- SSM papers
- Bank statement
- Invoice of payment
- Full office set up with furniture
- Appointment letter of applicants
- Financial focusing
- Company profile
- Passport copies of applicants
Yes, this is right choice to stay in Malaysia with residence pass. As employment pass is complicated and most of the applicants are rejected. So, Malaysia my Second home application is best solution in Malaysia. Approval duration is not more than 6 months. Contact S & F Consulting Firm to know requirement and costing of MM2H application support.
Business licenses are need along with register Sdn Bhd company. Never be silent after registering company and do business without require licenses and MyCoID. As other licenses are need after Malaysia register company are:
- Signboard and Premise
- EPF and SOCSO
- Export and import
- Car parking
- Concern department
- ESD for visa purpose
Ringgit 4000, including
1) Incorporation from SSM
2) Virtual address and company secretary for 1 year
4) Bank account
5) Website domain and hosting (200 MB).
No need indeed.
3-5 days if no issue comes with company name
Contact S & F Consulting Firm.
OCBC, UOB and Standard Chartered Bank
No, cannot, as it is not allowed by law.