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Procedures Company Formation Malaysia
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Companies incorporated in Malaysia are regulated by the Malaysian Companies Act, 1965. As
stated in the act any company doing business or wishing to do business in Malaysia must
register with the Companies Commission of Malaysia (CCM) under the Companies Act 1965.
A company is a corporate body and has its own legal personality which is distinct from its
members. It can sue and be sued, own property, enter into contracts and be a shareholder of
another company or partner in a partnership. It cannot, however, act as auditor, liquidator,
secretary or director.
Incorporating your business is a method for creating a legal wall between your personal assets
and business. Any judgment against your business will not impact your personal assets.
PROCEDURE FOR INCORPORATION
To incorporate a company, a person must apply to the Company Commission of Malaysia (CCM)
to determine if the proposed name of the intended company is available. Normally, a name
search result is made known within one week after submission to the CCM. A reservation
period of three months will be granted if the name is available, during which time the company
must submit the relevant documents together with relevant registration fees with CCM.
Upon payment of the registration fee, which depends on the amount of the company’s
authorized share capital; a Certificate of Incorporation will be issued by CCM. This Certificate is
conclusive evidence of the existence of the company. The whole incorporation procedure of a
company generally takes three to six weeks.
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Scale of Registration Fees:
Authorized capital (RM) Registration fee (RM)
0 – 100,000 1,000
100,001 – 500,000 3,000
500,001 – 1,000,000 5,000
1,000,001 – 5,000,000 8,000
5,000,001 – 10,000,000 10,000
10,000,001 – 25,000,000 20,000
25,000,001 – 50,000,000 40,000
50,000,001 – 100,000,000 50,000
Above 100,000,000 70,000
Company Directors
A company must have a minimum of two directors, being natural persons of full age and having
their principal or only place of residence in Malaysia. Directors need not be shareholders of the
company. A director has onerous duties under the Companies Act as in common law. The duties
of directors stipulated in the Companies Act are not exhaustive and generally directors are
imposed with statutory duties, duty of care and fiduciary duties. In addition, directors are also
governed by a Code of Ethics.
Company Secretary
A company must have at least one secretary, being a natural person of full age who has his or
her principal or only place of residence in Malaysia. No person shall act as a secretary of a
company unless he or she is qualified as prescribed under the Companies Act. Similar to
directors, company secretaries are also governed by a Code of Ethics. A register of the company
secretary or secretaries is kept at the registered office of the company.
Registered Office
A company must maintain a registered office in Malaysia where all books and documents
required under the provisions of the Companies Act 1965 are kept.
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The following registers have to be kept and changes there to have to be filed with the
Companies Commission of Malaysia:
Register of members
Register of directors, managers and secretaries
Register of charge (if applicable)
Register of interest holders (if applicable)
Auditor
The Companies Act requires a company to appoint a qualified and approved external auditor to
audit its books. The main statutory duty of the auditors is to report to the members of the
company on the accounts or consolidated accounts to be laid before the company at the
Annual General Meeting. The Companies Act specifically provides for the disclosures to be
made in the auditor’s report and the auditor must form an opinion on the accounts.
We also provide other services such as Immigration Services, Work Permit Malaysia, MM2H
Services, Company Formation, Regional Office Services, Malaysia Payroll, Accounting Services.
Call us now +603-20789990 or visit our website http://www.bch.my/ for more information!
Suite. 21.02 & 03, 21st Floor Menara Haw Par Jalan Sultan Ismail 50250 Kuala Lumpur
Tel : +603-20789990 Fax : +603-20780991
W : www.BCH.my
F: www.Facebook.com/beyondcorporate
T : www.Twitter.com/beyondcorporate
Email Us at info@bch.my