Our discussion agendas are Malaysia company incorporation and fees:
- Process of LLC incorporation
- Fees of incorporation
- Advantage and disadvantages of incorporation
Malaysia, a developing country, is the neighbor country of Singapore and Thailand. Population density free and well education rate. There is a minimum level of jobless record in Malaysia. Foreign investment countries are India, Bangladesh, Singapore, USA, China, Indonesia, Dubai, Germany, Egypt, Morocco, and the UAE.
Procedure of Malaysia Company Incorporation
Speak with company secretary as (CS) will process documents to SSM. You can speak with an expert who is well known about foreign investment law of Malaysia. As the local and foreign investment process is not the same as Company Act 1965. Very few company secretaries will let you meet and discuss. As an assistant of secretary guide of processing company incorporation. Company incorporation time in Malaysia is 5 to 7 days or shorter. As a suggestion, propose 3-4 names to check availability by payment of RM 50 each time. The result will appear in next day if approve or reject showing the valid reason. The necessary process of Malaysia incorporation are as follows:
- Reserve good name of your company
- Signature on papers as given by Secretary
- Provide passport, present, and permanent address and contact
- Take virtual office service at FREE for 1 year
- Now the secretary/ assistant secretary will prepare papers
- Documents, Moa, forms of SSM will be filled up by the secretary
- Make an initial payment or 50 percent in advance
- You have to wait 2 days to listen result if no heavy traffic
- Secretary will let you know feedback of SSM
- Let the secretary buy super form after company incorporation.
- Contact bank through S & F Consulting Firm
Contents
Post Malaysia company incorporation
- Open bank account
- Pay EPF and SOCSO
- Pay company tax
- Submit an annual return as law whether investor does business or not.
- Prepare accounts and audit report
- Renew signboard and all licenses
Incorporation Fees
| Particulars | Government corporation | Fees (Ringgit) |
| Name reservation | SSM | 50 |
| Company Incorporation | SSM | 1010 |
| Bank Account | OCBC, UOB, Standard Chartered | Nil |
| Professional Fees | S & F Consulting Firm | 3000 |
| Signboard and Premise | DBKL, MBPJ | 3000 |
| EPF and SOCSO | KWSP, PERKESO | 2000 |
| Other licenses | MIDA, Export, WRT | Contact Us |
Advantage of Malaysia company incorporation
Advantages of Malaysia company incorporation are follows:
- International banking facilities
- Online banking kit
- Unlimited remittance comes in and out
- The labor cost in Malaysia is less costly than Singapore.
- Large country
- Wonderful road and highway
- The tax rate is tolerable
- Labuan company get tax free and fixed tax at 3%
- Smooth import and export goods through ports
- Good business if target customers are a tourist
- An eligible person can apply for second home program
- Foreign staffs can hire under own company if allow by ESD
- No need local nominee and share holders
- The virtual address is OK to do business
- Living cost is cheap
- Car, vehicle, and transport cost are cheap
Disadvantages of Malaysia company incorporation
- Immigration people are not friendly
- Administration guys are not very honest
- Takes a long time to approve or reject a visa application
- Visa approval rate is higher considering nationality
- Local employees are lazy and take opportunities
- Except for Chinese, all others are not well enough for sales
- It’s not easier to hire the right person
- Local banks are not friendly for foreigners
- No one banks provide international bank card for foreigners
- Education is costly except government school
- Chinese people are very commercial
- As own culture’s food shops are not available always.
- Visa renewal is not easier
Malaysia company incorporation as foreigner
As amendment of the new law, there is 1 (one) person need for Malaysia Company Incorporation.
Yes, foreigner can incorporate only Sdn Bhd company in Malaysia. As local investors can open proprietorship company. Local investors can show capital of Ringgit 1 whereas foreigner can do same. But if foreigner start retail business and intention of visa application will show capital of RM 500000. Whereas local investors can hire foreign staffs if capital is Ringgit 350000. Foreigner cannot open bank account with local banks. Investment capital vary upon nature of business, but all foreigner can incorporate company by RM 2 (two).
Private Limited Company = LLC = Sdn Bhd as Malaysian language. Private Limited Company where limited number of shareholders and shares. As Malaysian Company Act 1965, minimum 1 shareholder need to incorporate a company. Public Limited Company is where unlimited shareholders and shares. Public Limited Company is eligible to apply of listing company as stock exchange. Public Limited Company can sell shares of company in market whereas private limited company cannot do. You may want to know also about the company’s commission of Malaysia.