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|Setting up a Company in Malaysia:|
|Friday, 16 July 2010 08:49|
Setting up a Company in Malaysia:
The type of company that a foreigner can open up and procedures of registering a company
A foreign company may carry out business in Malaysia either:
- Incorporating a local company with CCM (a private limited company); or
- Registering the foreign company in Malaysia with CCM (via a Branch)
You are required to register your company with the Companies Commission of Malaysia (CCM). For all CCM applications, CCM requires that all company-related forms be prepared by registered company secretaries.
Go to below link for the guidelines for Registration of a Foreign Company in Malaysia.
As CCM requires all forms to be prepared by registered company secretaries (appointed by the company itself), all forms are available through Company Secretary only. CCM is committed to complete the process of Approval of Company Name and Incorporation of a new company in 1 day for each application.
Summarised here are the main requirements to set up a locally incorporated company in Malaysia;
i. Name search
If the name resembles another company in Malaysia, CCM will reject the name and the applicant has to submit another name for the Malaysian company. It would be preferred if several names are submitted to CCM.
ii. A Malaysian company can be incorporated with a minimum authorised capital of RM100,000 and a minimum paid up capital of RM2. The capital duty for a minimum authorised capital of RM100,000 is RM1,000.
However should the company wish to hire foreign expatriates, depending on its shareholding structure, there are additional requirement imposed by the Immigration Department as follows:
* RM500,000 where the new company is a 100% foreign owned company
* RM350,000 where the new company is a joint venture with local and foreign shareholders
* RM250,000 for a 100% Malaysian owned company
iii. There is a minimum requirement for 2 resident directors. 'Resident' here means either a Malaysian or a foreigner with a valid Malaysian work permit and with an address in Malaysia.
A Malaysian registered company secretary can advise you further on the documents and the way to incorporate the company in Malaysia.
For more details visit CCM’s website at: www.ssm.com.my
|Last Updated on Friday, 10 September 2010 09:26|