How to register a Company in Malaysia (Sdn. Bhd.) with SSM

If you’re asked, “How to register a company in Malaysia?” and have decided to invest in Malaysia then you have made a wise decision. You are at the right place.

This article is written for those who intend to start a Limited Liability Company (LLC) in Malaysia. LLC is short for Limited Liability Company. It’s a type of legal business entity that was developed to provide business owners with a lower level of liability.

The following information will guide you regarding how to register a Company (Sdn bhd) in Malaysia.

Engage a Company Secretary

Firstly, you will need to engage the service of a company secretary to help you to complete the company registration process.

Every Company LLC in Malaysia must have at least one company secretary in the LLC and the company secretary must be a member of a professional body or licensed by Suruhanjaya Syarikat Malaysia (SSM). 

Secondly, your company secretary should advise the director to provide the information “What I need from you to Register a Company in Malaysia”

1. 
   
2. Name of your new Company
3. Business activities of your new Company (3 major business activities)
4. Identity card (Malaysian) or Passport (Foreigner) of at least 1 director & 1 shareholder
5. Latest Residential & Email addresses of all directors & shareholders
6. Percentage of Shareholding structure
7. Business Address (optional)

Thirdly, when receiving the above information and documentation of Register a Company in Malaysia, the company secretary must complete the information for the name of the company to SSM via MYCOID system and the fee is RM50.00 for each name applied for their approval of using the name in the new company.

If the name is approved by SSM, the name is reserved for 30 days. The applicant can then apply for incorporation with a fee of RM1,000.00.

The Company Secretary must do Lodgment of application to incorporate the company within 30 days from the name approved by SSM.

Once incorporated, the company is advised to obtain the necessary license/permit/approval from the relevant authorities before commencing business.

Procedure for Incorporation Company

Procedure for Incorporation Sdn Bhd in Malaysia.

1 . Name Search – Approved or Reject

2. Preparation for Incorporation Documents , All Directors and Shareholders visit our office to sign the document.

3. Submission Incorporation Document to SSM

4. Finally, Company Incorporated Successfully

in addition, we provide all incorporation related documents to clients for record purpose and Resolution of Open Bank Account .

Looking for company secretary in Puchong, Selangor?

Package of RM1,899 inclusive of the followings.

1. One FOC Name Search (Extra name Search for only additional RM50 each)
2. SSM Charges of RM1,000.00 for incorporation
3. E-Notice of Incorporation
4. Company profile extract from Registrar of Companies
5. Minutes of first board meeting
6. Register Book
7. Secretarial File 
8. Free use of Company registered office address

It's also inclusive 5 sets of the following Certified True Copy (CTC) documents:

1. E-Notice of Incorporation Section 14, Section 15, Section 17 (Super Form)
2. Company profile extract from Registrar of Companies
3. Resolution to open bank account 

Call us @ 03-33199130 or 013-9319130 (Whatapps)

Company registration in Puchong, Subang, Petaling Jaya and Shah Alam. 

Companies Act 2016 Major Changes

Companies Act 2016 implemented with effective from 31.1.2017. 

The previous Companies Act 1965 duly repealed.

Major Changes:- 

a) ONE PERSON company

b) NO MORE AUTHORISED CAPITAL required. No more nominal value or par value for each shares. Only remain paid up capital! Any future share issued will be at an issue price. The issue price may be determined by Board based on company performance.

c) NO MORE ANNUAL GENERAL MEETING. Audit report approved by Board and adopted by Members. Filing audit report with authority within 7 months from year end

d) ANNUAL RETURN will be filed within 30 days from company's anniversary date (i.e date of incorporation)

e) NO COMPULSORY TO ADOPT CONSTITUTION

f) WITH NO CONSTITUTION, all changes in the company details, directorship, shareholdings etc will be governed by new Act

g) no compulsory to adopt COMMON SEAL

h) no compulsory to have SHARE CERTIFICATES

Register Company under New Companies Act 2016

Set up a new Company (Sdn. Bhd.)
www.hoocompanyformation.com
www.hoosecretarial.com 

 Package of RM1,899 inclusive of the followings.

1. One FOC Name Search (Extra name Search for only additional RM50 each)
2. SSM Charges of RM1,000.00 for incorporation
3. E-Notice of Incorporation
4. Company profile extract from Registrar of Companies
5. Minutes of first board meeting
6. Register Book
7. Secretarial File 
8. Free use of Company registered office address

It's also inclusive 5 sets of the following Certified True Copy (CTC) documents:

1. E-Notice of Incorporation Section 14
2. Company profile extract from Registrar of Companies
3. Resolution to open bank account 

Contact Persons:- Emily Hoo

Tel: 03-3319 9130 Fax:03-3319 9130 H/P: 0139319130

Email:- hoosecs@gmail.com 

Register Company in Puchong, Subang Jaya, Petaling Jaya

Our Package of Registration Company Sdn Bhd in Puchong, PJ, and Subang @ RM1,899 only.

Puchong support team : Justine Hoo 016-2762382

Visit our webstie: www.hoosecretarial.com 

We are a professional Company formation and corporate service provider, dealing with Company Registrations. 
We provide our clients experienced, fast and reliable Company Incorporation services. 
We guide you through every aspect of the incorporation process to ensure incorporating your company is simple at competitive rates. 

a) Company Formation/Company Registration/Form a new Sdn. Bhd. in Malaysia, SSM Company Registration. 
b) Ready Made Shelf Company. 
c) Company Secretarial in Malaysia 
d) Change of Company Secretary in Malaysia 
e) Accounting/Bookkeeping Services. Visit our website www.hoosecretarial.com or email to hoosecs@gmail.com call us at 03-33199130 or Whatsapp 013-9319130

Hoo Secretarial Services menawarkan khidmat penubuhan syarikat Sdn Bhd, daftar syarikat Sdn Bhd dengan Suruhanjaya Syarikat Malaysia (SSM) pada harga istimewa hanya RM1899.

Kami juga memberi khidmat nasihat professional secara percuma [FOC] mengenai syarikat di Malaysia sebelum anda menubuhkan syarikat agar anda memahami mengenai perkara berkaitan syarikat di Malaysia.

Hubungi Kami - Justine Hoo 016-2762382

SOCSO CONTRIBUTION - NEW TABLE 2016

Please be informed that the Government has increased the ceiling for monthly Socso contributions from RM3,000 to RM4,000 for all workers and this will take effect on 1st June 2016.
New Table 2016
http://www.perkeso.gov.my/…/empl…/rate-of-contributions.html

Promotion Register company in Klang, Selangor, Shah Alam, Subang Jaya and Puchong

Register Company Sdn Bhd  (www.hoocompanyformation.com)
www.hoosecretarial.com

Promotion Package of RM1,899 inclusive of the following:

1. One FOC Name Search (Extra name search - additional RM50.00 each)
2. Appointment of new directors/shareholders (2 persons)
3. Use of our office as your registered office
4. SSM Charges of RM1,000.00 for initial Authorised Share Capital of RM400,000.00
5. Stamp duties of RM200.00 for Memorandum & Articles of Association
6. One Brand new Common Seal, One Share certificates, One Minutes Book, One Register Book & Secretarial File
7. 5 sets certified true documents for opening bank accounts & any other business purposes

The above promotional package is subject to change without prior notice. Please contact us for more details. (Terms & conditions apply)

Klang & Shah Alam Call Emily: 013-931 9130
Puchong & Subang Jaya Team Member Call - Justine : 016-276 2382

Company Secretarial Services in Malaysia – Does Your Company Need It?

A Company Secretary as it stated in the Companies Acts 1965 Section 139A (a) & (b) that the following persons can be company secretary:

1.      Chartered Accountant (Malaysian Institute of Accountants (MIA) )

2. Chartered Secretary (Malaysian Institute of Chartered Secretaries and Administrators (MAICSA).

3.      Licensed Secretary (Company Commission of (SSM))

4.      Lawyer (He/she must be register with Malaysian Bar, or relevant authorities)

If the person appointed as a company secretary, he/she will become an officer of the company, sharing legal responsibilities with the directors for certain tasks required by the Companies Act. It is in everyone’s interest to ensure that you are the right person for the job, and that you get adequate support in doing it.

The company secretary is responsible for the efficient administration of a company, particularly with regard to ensuring compliance with statutory and regulatory requirements and for ensuring that decisions of the board of directors are implemented

As you are serious in running your business and make sure that all processes in the context of your business is running softly and at the same time it operates inside legal guidelines. There are several statutory obligations that a director needs to comply as for company’s requirements. Such obligations can be equally complicated as your other concerns as the company director, thus you need someone knowledgeable and well trained to handle such tasks for you.

Did you ever wonder the extent of a secretary’s job in the company? To get full details about the services offered by a corporate secretarial services company, visit http://www.hoosecretarial.com

Special Promotion Company Formation, Company Registration in klang, shah alam

Special Promotion

Form a new Company (Sdn. Bhd.)
www.hoocompanyformation.com

for limited time only

Our Promotion Package of RM1,899 inclusive of the followings.

1. One FOC Name Search (Extra name search for only additional RM50.00 each)

2. SSM Charges of RM1,000.00 for initial Authorised Share Capital of RM400,000.00

3. Stamp duties of RM200.00 for Memorandum & Articles of Association

4. One Brand new Common Seal

5. One Share certificates book

6. One Minutes Book

7. One Register Book

8. Secretarial File

It's also inclusive 5 sets of the following Certified True Copy (CTC) documents:

1. Memorandum & Articles of Association

2. Form 9

3. Form 24

4. Form 44

5. Form 49

6. Resolution to open bank account

OFFICE ADDRESS: HOO SECRETARIAL SERVICES

No. 32-1, Jalan Jasmin 1,

Bandar Botanic,

41200 Klang, Selangor

Contact Person:

Emily Hoo

Phone No.:

03-3319 9130, 013-9319130

Email:

hoosecs@gmail.com ; emilyhoo88@gmail.com

How to Maintain a Sdn Bhd company (Active or Dormant)

1. Convene an annual general meeting (AGM) yearly;
2. Lodge the annual return and audited accounts yearly; Please take note that Dormant Company (not carry on or cease of business) still need to do audited accounts yearly.
3. Lodge statutory documents when there are changes in the registered particulars - Register of Directors, Managers and Secretaries, Changes of registered office, Return of Allotment of Shares
4. Lodge various other statutory documents that need to be notified or registered with SSM

Important Reminder!! Failing to submit annual returns and audited accounts to SSM within the dateline will result in fine & penalty charged to the Company, and to directors personally.

AGM

Section 143 (1) of the CA requires a company to hold its first AGM within 18 months of its incorporation. The subsequent AGM must be held once in every calendar year and not more than 15 months after the holding of the last preceding AGM. If the company holds its first AGM within 18 months after the date of its incorporation, the company need not hold an AGM for the year of incorporation or the following year.

Annual Returns

Section 165 of the CA requires all companies to lodge the annual return within one (1) month of the AGM. The annual return of a company shall be in accordance with the Eighth Schedule of the CA. The annual return must include:

1. a copy of the last audited accounts comprising the balance sheet and profit and loss accounts certified by a director, manager or secretary of the company (including every document required to be attached thereto); and
2. a certified copy of the auditor’s report.

Estimated Yearly Charge of maintenance for a sdn bhd company

Professional services	Dormant Company/ Semi Active Company RM	Active Company
Secretarial fee *	840	960
Audit fee *	800	2,000
Tax filing fee *	500	1,000
Accounting fee *	300	2,400
Annual Return to SSM	150	150
	2,590	6,510

* Fees are subject to 6% Government Service Tax & not included the Disbursement and other professional fees

Are your company inactive/dormant for years?

Why need to maintain it and paying for the fees? We charge RM2,000 only to close down a company via strike off S308 CA. Call us to find out more!

www.hoocompanyformation.com
www.hoosecretarial.com

Does a company/business need to display its name and registration number in their website?

YES. Please take note that we had received a letter dated 10.10.2013 from SSM of our clients, a reminder which the company website need to display its name and registration number under Section 121 (1) (b) of Companies Act 1965:-

Section 121. Publication of name and company number

(1) The name of the company (whether or not it is carrying on business under a business name) in legible romanized letters and the company number of the company shall appear on— (b) all business letters, statements of account, invoices, official notices, publications, bills of exchange, promissory notes, endorsements, cheques, orders, receipts and letters of credit of or purporting to be issued or signed by or on behalf of, the company,

Ø      Each company needs to display its company name on the exterior of each office or location where business is conducted. For a registered office, the words ‘Registered Office’ must be displayed on the exterior of the registered office as per the requirements of section 121(3) of the Companies Act 1965.

Ø      All registered businesses must display a signage with the name and registration number of the business on the exterior of each location of business pursuant to Rule 13A(1) of the Registration of Businesses Act 1956.

SAMPLE LETTER FORM SSM

Why need to appoint Company Secretary for Sdn Bhd?

Why need to appoint Company Secretary for Sdn Bhd?

The mandatory appointment of a company secretary which the Companies Act recognised the important role played by company secretaries in ensuring that high level of governance is maintained. This move is aimed towards enhancing and monitoring the standard of conduct and professionalism.

Who can be a Company Secretary?

Every company shall have one or more secretaries, each of whom shall be a natural person of full age. To qualify as a Company Secretary, he or she must be either:-

Ø     Member of a professional body, or any other body, which has for time being prescribed by Minister or;

Ø     Licensed by the Registrar of Companies (SSM)

What is the Roles and Duties of Company Secretary?

As refer to the MAICSA website (Good Governance Guides: No 2.1)

The company secretary should be aware of the following:

Ø     The company secretary should familiarize himself with the provisions of the Memorandum and Articles of Association of the company.

Ø     The company secretary should be well versed with securities laws and regulations.

Ø     The company secretary must ensure correct procedures are followed and adhere to it in accordance with the Company's Memorandum and Articles of Association and the Companies Act, 1965.

Ø     It is a duty of the company secretary to ensure that any documents authenticated by him represent the exact copies found in the statutory books, registers and secretarial file.

Ø     The company secretary should adhere to "The Company Secretary's Code of Ethics" developed by the Companies Commission of Malaysia (formerly known as the Registrar of Companies) and lays down clearly the duties and responsibilities and ethical practices of the company secretary.

How to Change Company Secretary?

Q1.      Can we change our company secretary anytime?

Ø     YES. Board of directors’ have power to change the Company Secretary

Q2.      What should we do for change of Company Secretary?

Ø   Step 1. Send a Resignation Letter to existing Company Secretary which provide the detail of New Company Secretary (Sample Letter draft by us)

Ø   Step 2. We will liaise with the existing Company Secretary through submission of documents Form 49 & Form 44 for the changes.

How to set up a company or business entity in Malaysia

Starting a business in Malaysia

Business Entity may be classified into following three basic types:-

i) Business Firm

ii) Registered Company

iii) Limited Liability Partnership (LLP)

i) Business Firm

There are two types of business firm

a) Sole proprietorship (one-person ownership)

a) Partnership (more than one ownership)

- Not legal entities and do not have legal status

ii) Registered Company (Sdn Bhd)

A company limited by shares is incorporated under the Companies Act 1965 (CA 65): - A company having a share capital may be incorporated as a private company (identified through the words ‘Sendirian Berhad’ or ‘Sdn. Bhd.’ appearing together with the company’s name) or public company ‘Berhad’ or ‘Bhd’ appearing together with the company’s name).

The requirements to form a company are:

(i) A minimum of two subscribers to the shares of the company (Section 14 CA);
(ii) A minimum of two directors (Section 122); and
(iii) A company secretary who can be either :

An individual who is a member of a professional body prescribes by the Minister  of Domestic Trade Cooperative and Consumerism; or

An individual licensed by the Companies Commission of Malaysia (SSM)

Both the director and company secretary shall have their principal or only place or residence within Malaysia.

iii) Limited Liability Partnership (LLP)

Under the Limited Liability Partnerships Act 2012 which combines the characteristics of a company and a conventional partnership.

In an LLP, all partners have a form of limited liability for each individual's protection within the partnership, similar to that of the shareholders of a corporation. However, unlike corporate shareholders, the partners have the right to manage the business directly. An LLP also limits the personal liability of a partner for the errors, omissions, incompetence, or negligence of the LLP's employees or other agents.

 

Upon incorporation, the company or business entities as abovementioned is advised to obtain the required license/permit/approval from other relevant authorities prior to carrying on any business in Malaysia.

 

visit our website: www.hoocompanyformation.com

Interbank GIRO or IBG transaction at 10 sen

Interbank GIRO or IBG transaction at 10 sen

Effective May 2, 2013, the fee for Interbank GIRO or IBG transactions done online via internet banking and mobile banking, would be at 10 sen.

Banks to charge 50 sen to process a cheque from April 2014

Bank Negara Malaysia today announced a new pricing strategy for payment services.

Banks will impose a cheque processing fee of 50 sen on the issuer of the cheque with effect from April 1, 2014,

Sources from:-

The Star (http://biz.thestar.com.my/news/story.asp?file=/2013/3/20/business/20130320191614&sec=business)

Bank Negara Malaysia

(http://www.bnm.gov.my/index.php?ch=en_press&pg=en_press_all&ac=2777)

EPF employer contribution rate 13% effective 1 January 2012

Employers' Guide to EPF Services - EPF (KWSP) 1 January 2012

Kindly take note that the employer’s share contribution for employees who receive monthly wage/salary of RM5,000 and below will be increased by 1% from 12% to 13%. The employee’s share contribution rate remains at 11%.

The increase in the employer’s share contribution rate is effective beginning employee’s January 2012 wage/salary for February 2012 contribution.

The latest contribution rate for employees and employers can be referred in the Third Schedule, EPF Act 1991  (click to download). Employers are to remit the employee’s contribution share based on this schedule.

(Source: PERKESO website http://www.kwsp.gov.my/index.php?ac=439&ch=p2employers&pg=en_p2employers_empguide&lang=en)

SOCSO CONTRIBUTION

SOCSO CONTRIBUTION/ PERKESO CONTRIBUTION


Definition Of Wages

All renumeration payable in money to an employee is taken into account as wages for the purposes of SOCSO contributions. These include the following payments:

• Salary
• Overtime payments
• Commission
• Payments for leave such as annual, sick and maternity leave, rest day, public holidays
• Allowances such as incentive, good behavior, cost of living (COLA)
• Service Charge

Example:

Salary = RM1000.00
Overtime Payments = RM 250.00
COLA = RM 100.00
Total Salary = RM1350.00

Contribution to be paid to SOCSO is RM30.40 (Refer the Attachment A-Contribution Table) However, the following payments are not considered as wages:

• Payments by employer to any pension or provident fund for employees
• Mileage claims
• Gratuity payment(s) for dismissal or retrenchments
• Annual bonus

(Note - The payments listed above are a few examples and are not comprehensive.If an employer needs further clarification pertaining to the definition of 'wages', please contact the nearest SOCSO office).

(Source: PERKESO website

http://www.perkeso.gov.my/en/contribution.html )

EPF CONTRIBUTION

EPF CONTRIBUTION/ KWSP CONTRIBUTION


Wages
All remuneration in money due to an employee under his contract of service or apprenticeship whether it was agreed to be paid monthly, weekly, daily or otherwise is regarded as wages. This includes bonus, commission or any allowance which an employer is required to pay whether such a payment is payable under his contract of service or apprenticeship or others.

Payments Liable For EPF Contribution
Generally, all remuneration due to an employee is wages and shall be subject to the EPF contributions. Examples of such payments include:

• Salary
• Payment for unutilised leave;
• Bonuses;
• Allowances;
• Commission;
• Arrears of wages;
• Wages for maternity leave;
• Wages for study leave;
• Wages for half pay leave; and
• Directors' salary (as an employee).

Note: The above list is not exhaustive. If you have any doubts, please contact our Call Management Centre at 03-89226000, Enquiry or any EPF Office.

Payments Not Liable For EPF Contribution

List of Payments which do not form part of the definition of “Wages” and shall not subject to the EPF contributions include:

• Service charges;
• Overtime payment;
• Gratuity;
• Directors' fee;
• Retirement benefits;
• Payment in lieu of notice of termination of employment;
• Retrenchment, temporary and lay-off termination benefits; and
• Any travelling allowance or the value of any travelling concession.

(Source: KWSP website
http://www.kwsp.gov.my/index.php?ch=p2employers&pg=en_p2employers_empguide&ac=296 )

TRADEMARK REGISTRATION PROCEDURES

WEB HOSTING

Create your own home on the Internet, blog, interest site, personal site and even a business site today !

2GB Space (1000MB Web + 1000MB Email), 20GB Bandwidth Monthly, Windows/Linux Platform


Web-Hosting Starter Pack for individual or business organization @ RM199

Get your business going on the Internet with the power of SharkSURF and enjoy a comprehensive range of the power products to boost your website. SharkSURF also comes with a control panel to help you manage these great products. Best of all, you can started almost immediately.

Total Online Business Solution
Get your business going in the Internet with the power of SharkSurf and enjoy a comprehensive range of power products to boost your website.
SharkSURF also comes with a control panel to help you manage these great products.
Starter Pack inclusive of 1 year Full Subscription of the below:
1. Domain Name - (Worth RM55 per year)
2. Email Accounts
3. Web Hosting Space (1000MB) - (Worth RM330 per year )
4. TotalWEB! Lite (A Do-it-yourself web-builder) - Worth RM400 per year
5. Free Membership to iBeli.com Trade Portal - Worth RM200 per year
6. MobileACE SMS (SMS Campaign Manager) - (Worth RM300)

Total Worth : RM1285

Tel: 013-9319130
www.hoocompanyformation.com
E-mail: hoosecs@gmail.com