If you’ve ever been interested in the company incorporation process in Malaysia, you may have heard the term “MyCoID” being used. At this point you may or may not know exactly what the purpose of the MyCoID SSM System is, not to worry, detailing all that MyCoID entails.
In simple terms, MyCoID SSM System is an online platform created and managed by the SSM in Malaysia, as a means of providing a method for an online company and business registrations. As of 2019, MyCoID’s server is online 24/7 and can be accessed at any given time. Moreover, all payments required can be paid on the MyCoID website.
The companies commission Malaysia, commonly known as the SSM (Suruhanjaya Syarikat Malaysia), is the legislative body that governs and regulates all proceedings that involve business and company registration in Malaysia.
It is to be noted, however, that while the server itself is online 24/7, getting notice of or approval of document submissions will be subject to the following conditions:
Once you enter the MyCoID website, you will be asked to create an account in order to continue with the services. There are two types of accounts that you can register on the MyCoID website, with each of them having different uses and available permissions:
On the Suruhanjaya Syarikat Malaysia (SSM) website, you can find a section called MyCoID under the quick links. If you press on it you will be taken to the MyCoID website where you must signup for the account. Steps of registering on MyCoID are provided below:
After the verification from the SSM counter, you can check the status of your registration on the MyCoID portal. This can be done online instead of physically going to the SSM counter again. The things you must do to check the status of your registration are:
After you have successfully registered and verified your account, you can now log in by providing the username and password you have set for your account. Login is straightforward. Providing the username and password will provide you with a captcha for verification of any bots.
Solving the captcha will show you your profile page on MyCoID. On this page, you can edit any of your credentials like email, password, user type, etc. However, this will require adding more information to your account.
When you log in to your MyCoID account you will be greeted by the Customer Portal Homepage. On this page, you will see some options to perform certain tasks. To perform a name search you must:
When your name is unavailable, the reason will be provided as there are certain guidelines for company name selection in Malaysia.
On this portal, you can even opt for changing the name of your existing company. The thing you must do is instead of selecting ‘NEW INCORPORATION’ on the ‘Purpose’ box, select ‘CHANGE OF COMPANY NAME’. For this, you must insert the existing registration number.
If you’re currently looking to register your business in Malaysia and would like to have someone help you with this rather tedious project, do contact us at S&F Consulting.
We are an officially registered business consulting firm and we pride ourselves on ensuring that you, as our customer, receive the best possible service. If you’re still feeling any doubts, do not hesitate to contact a member of our friendly customer service staff.
What is MyCoID?
MyCoID is online company incorporation and registration service introduced by the SSM that allows online company registration
What can be done using MyCoID?
MyCoID can be used to do the following tasks:
· Conduct company name search.
· Obtain and submit the application to reserve name.
· Obtain and submit an application to extend the period of reservation for the name.
· Obtain and Submit the application for company incorporation.
· Appointment of Professional Company Secretary.
· Submission of Lodgment Of Constitution.
· The Return of Allotment of Shares.
How do I use MyCoID?
For using the MyCoID online portal you must be a registered active user on the portal. You can register your company after the verification of your account.
Why use MyCoID?
As MyCoID is an online platform, you can use it anytime for company name search and making necessary payments. This can reduce the waiting time by a lot. SSM only accept major local and foreign issued credit card via Mastercard and Visa.
Who can register on MyCoID?
Any user can be a MyCoID user. You can register as a Professional or an Individual on the MyCoID online portal for doing your required tasks
Can I register as a Professional if I already register as an Individual?
No, you cannot, however, you can change the status of your account on the MyCoID Profile Page after you login to your existing account.
What are the services provided by the MyCoID online portal to the users?
The services provided to the users depend on the user type. The services available to users are provided below:
Individual and Professional
· Search of company name
· Application for reservation of name
· Application for extension of the reservation period
· Application of Incorporation
· Appoint Professional Company Secretary
· Lodgment of Constitution
· Return of Allotment of Shares (ROA)
· Register of Members (ROM)
When is the MyCoID available?
As this is an online platform, you can visit the MyCoID portal anytime. However, the submission of documents will depend on the following criteria:
· Documents submitted from 12 AM – 12 noon: Users will get the notification and approval by 5 PM on the same working day.
· Documents submitted from 12 noon – 11:59 PM: users will get the notification and approval by the next working day.
How can I visit the MyCoID system?
What are the services offered by MyCoID?
. The services you get from the MyCoID portal are provided below:
. Company name search
. Application for reservation of name
. Application for extension of the reservation period
. Application of Incorporation
. Appoint Professional Company Secretary
. Lodgment of Constitution
. Return of Allotment of Shares (ROA)
. Register of Member (ROM)
What are the operating working hours of the MyCoID service?
The online portal is available 24 hours, but the processing of applications will be done during office hours (8:15 AM – 5:15 PM).
What payment methods can I use?
For all transactions on the MyCoID online portal, the payment methods are provided below:
. Debit Card (Visa and Mastercard)
. Credit Card (Visa and Mastercard)
. Direct Banking
Can I change any information in the MyCoID system if there is any mistake in the information provided after the submission?
- You can change most of the user information on MyCoID except the following:
. Identification Number / Type
. Birth Date
What is the fee to request for the availability of the company name?
RM50 per name