Malaysia Company Incorporation Services — What Suits Your Business Best?
New company registration, Malaysia — Want to incorporate a company in Malaysia? What types of company incorporation are you looking for? Before you answer these questions, it is important for you to actually understand all types of company incorporation available as well as their pros and cons, in order to choose the best type that suits your business. Under the Companies Act 2016, the most common types of companies that you can incorporate in Malaysia include the Private Limited Company, also known as Sendirian Berhad (Sdn Bhd), Public Limited Company commonly known as Berhad (Bhd) and Limited Liability Partnership (LLP) which is also known as Perkongsian Liabiliti Terhad (PLT) in Malaysia. Apart from these, Sole Proprietorship or Partnership are some of the business registration types for individual entrepreneurs or small-scale businesses. Any new company registration, Malaysia, is required to be registered through the Companies Commission of Malaysia, known as the Suruhanjaya Syarikat Malaysia (SSM), an agency to incorporate companies and register businesses.
Factors to Consider Before Company Incorporation
Prior to new company registration in Malaysia, you may want to consider a number of factors such as the size or scale of your business, the volume of business transactions involved and most importantly, the liability that you and your company will have to encounter in case there is a problem or unfavourable situation happen to your operation and business deal with other companies such as your clients and suppliers. Thus, let’s take a look at the most common characteristics of these types of companies incorporation before you make your decision.
Sdn Bhd Vs. Bhd Company Registration
A minimum of one shareholder with at least one company director and a company secretary is required for an Sdn Bhd Company Registration. It is a company limited by shares. Some of the requirements that you need to fulfil for Sdn Bhd Company Registration include a statutory declaration by the company director(s) of not being either bankrupt and/or not convicted for any offence, a company constitution, and identity cards/passports of all the director(s). For company secretary registration, a declaration of your soon-to-be appointed Company Secretary and his/her identity card are essential.
The major difference between an Sdn Bhd and a Bhd company is the share limitation. An Sdn Bhd company cannot have more than 50 shareholders and its shares are not open to the public. Meanwhile, the number of shareholders of a Bhd company can exceed 50, and its share is open to the public.
Why Company Secretary Registration is Essential?
Before incorporating your company, there is a list of stringent procedures and documentation that need to be fulfilled, What’s more, after you have successfully incorporated your company, there’s a series of ongoing legal and corporate governance compliances that your company needs to address from time to time. Amongst the Malaysia Company Incorporation Services, EC Secretary provides you with a comprehensive range of secretarial services from the initial company incorporation to ongoing maintenance of compliance-related matters. Our company incorporation services include:
Assisting you to check your preferred company/trade name to ensure availability
Addressing your enquiries and providing consultation regarding the company registration
Assisting in the preparation of required documents and forms
Filing all the registration forms with SSM
Obtaining the Certificate of Incorporation upon approval
Preparing resolution for bank account opening procedures