Friday, April 04, 2014

Company Registration in Malaysia for Foreigner

Company Registration in Malaysia for Foreigner

Alt="Malaysia"
Malaysia
Company Registration in Malaysia for Foreigner is easier if the process of registration in right way but may need time as policy and rules of Malaysia. Let’s see how they are doing commerce in Malaysia and generate returns. I have read some online sites and got information of appointing local partner is necessary to register a new company in Malaysia for foreigner. But without local residing partners company is registered without doubt. As serious advisory for the foreign investors , please contact the bank before incorporate a new company. Company registration in Malaysia as nonresident is not a big issue but issue is opening bank account. However, where there is a problem there is a solution. 
Call Us: +601136901890 (WhatsApp Avelable), Email: contact@sfconsultingbd.com
  1. Company Secretary
  2. Company name approval
  3. Authorized & paid up capital & fees
  4. Company registration
  5. Total cost of company registration
  6. Office rent
  7. Important sections
  8. Bank account open
  9. Visa
  10. Advantage of investor visa
  11. Disadvantage of social pass
Company Secretary
Company Secretary is a qualified member of Chartered Secretary, Malaysia who is responsible to process company incorporation permission from SSM. Each company of Malaysia shall appoint Company Secretary (CS) as law. Its renewal process of appointing company secretary. Directors of the company may change company secretary any time by application and appoint another one.
Must Require
Company name approval
Company name is required for identification. Name of company is used as adding words SDN. BHD. Instead of private limited in Malaysia. Let your company name will stand MNOP SDN. BHD. To approve name have to pay the fees. Approval name is live for 90 days (3 months). Company Secretary shall apply for approval of proposed name from SSM.
Must require before processing of registration
Authorized & paid up capital & fees
Authorized capital: Government fees depend upon authorized capital. You may find detail here of cost.
Paid up capital: Foreign investors may start business maintaining paid up capital of RM 1 to RM 500,000 or any amount. Our suggestion to keep paid up capital of RM 500,000 to run business smoothly.
No more authorized capital is now. Only paid up capital.
Company registration 
Company Secretary will prepare MoA & AoA draft to submit to SSM for approval. Additional documents are form 24, 44, 48, 49. Directors have to put signature on papers as suggestion of secretary to precede the registration. Officer of SSM office will verify your documents and approve if no problems are found. Government fees should be paid before application of registration.
It takes 2-3 days maximum after name approval.
Total cost of company registration
Total cost including government fees, approval of documents and consultancy fees, company secretary service fees & virtual office rent are RM 5000-15000, depends on type of business and figure of authorized capital.
Government fees: 1010/-
Office rent
Each company has to have office address in Malaysia. So, you have to rent an office whether small, medium, large or micro virtual office. Renting office cost varies upon office decoration, space and location. We suggest rent virtual office at low budget.
Virtual office 1 year Free (you can use our address of your business). Desk rent RM 500/- only
Important sections
Section 14: There are minimum two directors required to register a new SDN BHD company. Company might be limited by share, guarantee.
Section 15: Private limited company cannot enter into public share.
Section 143: Each company shall hold meeting annually with attendance of the majority directors. First AGM may hold within period of 18 months being first AGM.
Super form is must to buy for next activities.
Bank account open
Directors of the company will contact the bank to open account. Companies those paid up capital is lower than RM 500,000 face problems to open bank account in Malaysia. We may guide them who maintain capital below of RM 500,000.
Very difficult. But we guarantee of successful.
Visa
We have noticed that social visit visa holders apply for registration of new company. If the visa holds multiple pass is not big problem to open bank account. Single entry pass holder makes problem indeed. Professional, DP-10 holders are welcomed to register new company. Dependent pass holders are unable to register new company but may allow working for certain period.
5 years after ESD registration.
Advantage of investor visa
Investors’ visa holder enjoys doing business in Malaysia. They are freedom to hire man power, open bank account, import family members, let child admit school, purchase property and many more. If the company maintains paid up capital of RM 500,000, directors are eligible to apply for investor visa.
You may think for MM2H
Disadvantage of social pass
Social pass holders are called tourist. They are allowed to register a company but unable to work and open bank account in some cases.
Immigration guy makes problem holding tourist visa.


Company registration Malaysia

How long takes to finish registration process?
3-5 days (T & C apply)
How much is cost to register SDN BHD company?
Ringgit 1200 government fees
How much professional fees to register SDN BHD company?
Ringgit 3000 to 4000 (depend on number of services)
Which banks are suitable to open corporate account?
OCBC, UOB, RHB
Who is authority to approve company registration?
SSM
How many papers will be given after registration?
Only one (Incorporation certificate)
How can I get forms, Memorandum and particular of director’s information?
You have to buy from online (My Data SSM)
What are the steps of company registration Malaysia?
1.      Company incorporation
2.      Bank account open
3.      Sign Board and premise license
4.      WRT, Halal license
5.      Export/ import license (if any)
6.      ESD registration
7.      Visa application

There is many opportunity of investing in different sectors. All government gives priority to overseas deal to begin trade in Malaysia. How to register/ creation/ merger business, company in Malaysia, FDI in Malaysia, Doing trade in Malaysia, How to set up industry in Malaysia? Know more how to register a company in Malaysia ?
<img src="Image/Malaysia-company.png" alt="Foreign Company registration in Malaysia"/>
Foreign company registration in Malaysia


New company registration process in Malaysia


Investors shall choice name of company and book it if available. Passport, photo, local address is needful to forward registration process of new company.  Two local directors ensuring from Malaysia is one of part of requirement registering a new company. Company secretary is must to be appointed as law of state who shall check the documents have to files properly or no and shall be prepared them accordingly. Signing on form 24, form 44, form 48 A, form 49 and Memorandum and Article of association by the directors are enough as paper work of company registration in Malaysia by SSM.


Cost, fees to register a new business in Malaysia


Residing cost approximately RM 1500 inside area of city for single room whereas RM 750 may cost to live outside of city area.

  • Obtaining name confirmation RM thirty may fees for each name.
  • RM sixty may charge for trade name in a year.
  • Minimum Paid up capital start from RM 2 to RM two thousand five hundred
  • In case of two directors RM three thousand two hundred may need to register a new business whereas RM three thousand eight hundred may need in case of one foreign and one local director.
  • Minimum charge for authorized capital may RM two thousand six hundred when starting a new company.


Business ideas in Malaysia

  • Foreign entrepreneurs who may need business visa and work permit to residing in Malaysia shall have to be remitted RM five 00,000.
  • As record of foreign investment per year 9700 million + in Malaysia whereas foreign man power 89000 plus for this year that are increasing gradually.
  • Expected number of business 3000 plus this year and total foreign workers 2 point seven million at present.

How to start a business in Malaysia



Important sites in Malaysia: 
  • Ministry of foreign affairs: http://www.kln.gov.my/web/guest/home
  • Central bank of Malaysiahttp://www.bnm.gov.my/
  • International chamber of commerce : http://www.micci.com/page0/page0.html
  • Inland revenue board: http://www.hasil.gov.my/index.php?lgv=2
  • Companies commission: http://www.ssm.com.my/
  • Investment development authority: http://www.mida.gov.my/home/
  • AmBank : http://www.ambank.com.my/eng/ 
  • Affin Bank : https://www.affinbank.com.my/ 
  • HSBC https://www.hsbc.com.my/1/2/#
  • RHB Bank https://logon.rhb.com.my/ 

Keep search us as the following to find us Foreign company registration in Malaysia, company registration in Malaysia, company registration process in Malaysia, how to register a company in Malaysia, how to incorporate a company in Malaysia?


Address: A-15-03 Tropicana Avenue, No 12 Persiaran Tropicana, Tropicana Golf & Country Resort PJU3, 47410 Petaling Jaya, Selangor, Malaysia

Call Us For Company Registration Service Malaysia: +601136901890 (WhatsApp Avelable), Email: contact@sfconsultingbd.com




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