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Incorporating Malaysian Company Sdn Bhd for Foreigners

Incorporating Malaysian Company Sdn Bhd for the Foreigners 

The Companies Act 2016 came into force in Malaysia on January 31, 2017. Ever since then, all companies and company owners in Malaysia have had to operate according to the Companies Act 2016’s framework. This is also true of foreigners who are planning to set up a company in Malaysia. 

According to the Companies Act 2016, a Sdn Bhd company may be incorporated by or have only one foreign shareholder, and that foreign shareholder can also be the sole director of the company. All foreigners are now allowed to register a Sdn Bhd (limited by shares) company in Malaysia with complete foreign equity as long as the nature of the business in question allows for such. 

We at Paul Hype Page & Co are able simplify your path towards business ownership in Malaysia. We can help you incorporate your company in Malaysia today. Please contact our incorporation specialists for further information. 

Paul Hype Page & Co also has offices in Singapore and Indonesia; thus, if you currently live in one of these two countries but plan to start a Sdn Bhd company in Malaysia, you may contact either of our offices in those countries.

 

Singapore Company Incorporation

The Process of Sdn Bhd Company Incorporation in Malaysia

Singapore Company Incorporation

The current statutory requirements of Malaysia state that a minimum of one shareholder, one director, and one company secretary must be had by all Sdn Bhd companies. Shareholders may either by corporate or individual. Any proportion of foreign ownership is allowed as long as other statutory requirements are followed. Certain Sdn Bhd companies will also require a business license and other licenses depending on their specific business activities. 

Singapore Company Incorporation

Documents required for a company’s incorporation include a copy of a passport which be valid for at least six months beyond the entry date; a copy of residential address proof such as a recent utility bill, residential telephone bill, tax bill, or cable TV bill; and a resume or CV stating the company owner’s educational and employment history.  

Singapore Company Incorporation

Here at Paul Hype Page & Co, we offer a full scope of services. We perform the following services for the incorporation of your company: 

  • Registration of company name 
  • Preparation of memorandum, Articles of Association, and other incorporation documents of the company 
  • Preparation of registration forms 
  • Payment of filing fees 
  • Obtaining of ecertificate of incorporation 
  • Preparation of corporate compliance kit which includes corporate seal, share certificates, register, and minutes book 
  • Preparation of minutes of first board meeting 
  • Preparation of resolution to open a corporate bank account 

Singapore Company Incorporation

After incorporation of the company, its owner is to open a corporate bank account with any of the local and international banks in Malaysia. Opening a corporate bank account in Malaysia will take around one week. Doing so requires the assistance of an authorized person for the opening of the bank account, a copy of the IC or passport of the authorized person, a recent photograph of the authorized person, and a minimum deposit of RM10,000. Of course, different banks might have additional requirements. 

 

 

Incorporating Malaysian Company Sdn Bhd for Foreigners FAQs

Why was the Companies Act updated?

The original version of Malaysia’s Companies Act became official in 1965. Since then, the economy and corporate scene of both Malaysia and the world alike have changed tremendously. These changes rendered much information in the original version of the Companies Act irrelevant. Thus, the Companies Act was updated in 2016 to better reflect modern-day economic and corporate realities. 

Do certain Sdn Bhd companies require more licenses than others?

The licenses required by any Sdn Bhd company depend on what business activities are conducted by the company in question. Therefore, the number of licenses required will vary from company to company. 

Is there any way to accelerate the process of opening a corporate bank account in Malaysia?

All the steps of opening a corporate bank account must be completed. All other requirements must also be followed, should they be applicable. Therefore, there is no way to accelerate the process of opening a corporate bank account in Malaysia. 

 

Paul Hype Page & Co – SSM service provider and Asean Chartered Accountant.

Paul Hype Page & Co. have 3 physical offices in Singapore, Malaysia and Indonesia

Our Firm Goal is to assist Foreigner and Foreign Companies to set up business in Asean.

 

How we can help you:

We will call you back, please click below link and make appointment with our Sales consultant:

BOOK NOW

 

Step 1- Listen to your Business plan and Relocation needs.

Step 2- Analysis your Malaysia Tax Planning

Step 3- Recommend the most suited type of Company Incorporation, Open Bank account and Work Visa

Step 4- Arrange for your Spouse and Children Visa

Step 5- Assist as your company to hire staffs and handle all HR matters

Step 6- Every financial year end, we assist you with your yearly SSM Finanical and Tax Compliance

Step 7- Assist you to expand business to Malaysia, Indonesia, Vietnam and Thailand.

Get in Touch with Us Today.

 

Paul Hype Page

Website: www.paulhypepage.my

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