If you are looking to start and register a limited company in Malaysia, you have to fulfill the following requirements:
Capital – Minimum paid up capital of RM 1
Identification – A copy of the ID for a Malaysian director, and a copy of the passport for a foreign director
- At least 1 director of a minimum age of 18 years and residing in Malaysia
- The directors should not be bankrupt or have been convicted and imprisoned in Malaysia for the past 5 years
- Shareholder requirements – at least 1 shareholder who should be at least 18 years of age
- There should be at least 1 company secretary
- The company secretary should be a member of a professional member recognized by the SSM
A company must have an office in Malaysia with a known registered way of communicating notices. The secretarial office can be at the registered office.
Accounts and Audit Requirements
- A company must prepare audited accounts that must be presented each year to the relevant Malaysian authorities
- Audited returns must have been approved by the shareholders during that financial year’s annual general meeting
- The company must appoint an auditor approved for practice in Malaysia
- The annual returns and audited accounts must be presented to the SSM
Annual Returns Requirements
- The company must present the audit accounts for inspection before the lapse of the 1st year from the date of incorporation
- The annual returns report should contain information on company director(s), company secretary, registered office, share capital, shareholders, main business activities
Company Registration Procedures
Step1 – Name search
The suggested name should be lodged with the SSM for an availability search and approval. Choose a unique name as there over 1 million companies operating in Malaysia.
You can look up the SSM registry so as to come up with a unique name. To make it easier, you can go directly to the alphabet of your suggested name. You can avoid having your name rejected and having to pay for more name searches. You can use a business for registration of a company in Malaysia to make things quicker.
Step 2 – Online SSM account registration
If the name you submitted for a search is approved, you can proceed to register it online. Remember to save the name search fee charged by SSM.
You can open an SSM account and follow these steps
- Go to ssm-einfo.my
- Go to “Register as e-Account Member!”
- Fill the “e-Registration Form” and submit
- If it is correct you will see “Please login now”
- Input your user name and password
- After logging in click on the icon “>> Search”
- Input your desired name in “By Name” field
- Results will appear. Repeat if necessary
Step 3 – Apply for a business name
When your name search analysis and survey is complete, you can proceed to apply for a new company name with the SSM. If the name is approved, the SSM will reserve it for 3 months. This means no other entity can be registered under this name during this time. You have to submit the required documentation during these 3 months for the incorporation to be complete.