An authorization letter is required if your proposed company name contains controlled words or trademarks.<\/li>\n<\/ol>\nFor a simple company structure, unless you have special requirements, the above-mentioned required documents shall be sufficient for your agency to prepare the necessary company incorporation paperwork and send it to you via email for signature.<\/p>\n
Upon receiving all the original signed incorporation documents, the agency will proceed to incorporate the company online.<\/p>\n
The timeline for the whole process of incorporation (from collecting documents until online incorporation) should be approximately 5 working days.<\/p>\n
The total cost of registering and maintaining a company in Malaysia<\/h2>\n
Firstly, choose a Malaysia company formation package:<\/p>\n
Company with a director ordinarily resides in Malaysia<\/strong>: This package is suitable for entrepreneurs who wish to set up a Malaysia company and have their own local Malaysia Director.<\/p>\nCompany without a director ordinarily resides in Malaysia<\/strong>: This package is suitable for foreign entrepreneurs or professionals who wish to form a company and relocate to Malaysia to run their company\u2019s operations.<\/p>\nFor a client who will like to engage nominee director services, it is important to appoint a competent person to act as the local director of your Malaysia company. A wrong choice in the appointment may bring dire consequences to the company. Most of the professional agencies offering Malaysia incorporation services often offer the services of a nominee local resident director as well.<\/p>\n
Below you can find the package fees for Malaysia Company Incorporation \/ Malaysia Subsidiary Incorporation (in Malaysia Ringgit, MYR).<\/p>\n
Note that at the moment of writing this article, 1 USD is worth around 4.35 MYR.<\/p>\n
Here are the package fees (exclude disbursement and service tax of 6%):<\/p>\n
\n
\n\n\n| Package<\/th>\n | With resident director (MYR)<\/th>\n | With non-resident director (MYR)<\/th>\n<\/tr>\n<\/thead>\n |
\n\n| Company Incorporation Services<\/td>\n | RM 3,900<\/td>\n | RM 3,900<\/td>\n<\/tr>\n |
\n| Company Secretary Services (per annum)<\/td>\n | RM 1,680<\/td>\n | RM 1,680<\/td>\n<\/tr>\n |
\n| Registered Office Address (per annum)<\/td>\n | RM 600<\/td>\n | RM 600<\/td>\n<\/tr>\n |
\n| Provision of Director\u2019s Residential Address (per annum)<\/td>\n | N\/A<\/td>\n | RM900<\/td>\n<\/tr>\n |
\n| Opening of Malaysia Bank Account<\/td>\n | RM 1,000<\/td>\n | RM 1,000<\/td>\n<\/tr>\n |
\n| One-time security deposit for the Provision of Registered Office<\/td>\n | RM 4,500<\/td>\n | RM 4,500<\/td>\n<\/tr>\n |
\n| Promotional Discount<\/td>\n | (RM 1,080)<\/td>\n | (RM 1,080)<\/td>\n<\/tr>\n |
\n| TOTAL COMPANY SET UP COST (with discount)<\/td>\n | RM 10,600<\/td>\n | RM 11,500<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n The maintenance costs for Malaysia company from the second year onwards are as follows (exclude tax and disbursements):<\/p>\n \n \n\n\n| Description<\/th>\n | With resident director (MYR)<\/th>\n | With non-resident director (MYR)<\/th>\n<\/tr>\n<\/thead>\n | \n\n| Provision of Company Secretary (per annum)<\/td>\n | RM 1,680<\/td>\n | RM 1,680<\/td>\n<\/tr>\n | \n| Provision of Registered Office (per annum)<\/td>\n | RM 600<\/td>\n | RM 600<\/td>\n<\/tr>\n | \n| Provision of Residential Address (per annum)<\/td>\n | N\/A<\/td>\n | RM 900<\/td>\n<\/tr>\n | \n| Preparation of Annual Return & Filing Fee<\/td>\n | RM 1,300<\/td>\n | RM 1,300<\/td>\n<\/tr>\n | \n| TOTAL MAINTENANCE COSTS<\/td>\n | RM 3,580<\/td>\n | RM 4,480<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n Besides this, a Malaysia Company is required to prepare management accounts and submit the audited report (certain companies\u2019 status are exempted from audit, check with your agency) to the Companies of Commission Malaysia (\u201cCCM\u201d) once a year.<\/p>\n The first audited financial statement is required to be submitted within 18 months from the incorporation date. A decent agency will also offer you accounting, auditing, and taxation services. This does not come for free and prices may vary as they are based on the number of invoices you produce.<\/p>\n You can easily get the quotation from your agency, agreed to the price, make your payment, and email all your business transaction documents to the agency. The agency accountant will take care of all the accounting work, arrangements for the audit, and tax filing for you.<\/p>\n How to open a corporate bank account in Malaysia<\/h2>\nForeign businessmen who set up companies in Malaysia can open bank accounts if they provide the following set of documents, which are compulsory for most the banks:<\/p>\n \n- Complete a bank account application form;<\/li>\n
- Recommendation of an introducer;<\/li>\n
- Company\u2019s stamp;<\/li>\n
- Copies of the passports of the company\u2019s directors.<\/li>\n<\/ol>\n
The directors will also have to provide several documents of the company which has to be presented in the form of certified true copies provided by the company\u2019s secretary.<\/p>\n The following documents are required by all banks in Malaysia: <\/p>\n \n- Resolution from the Board of Directors for the opening of the bank account;<\/li>\n
- List of directors;<\/li>\n
- Registered office address;<\/li>\n
- Constitution of Company (if any);<\/li>\n
- Certificate of incorporation;<\/li>\n
- Proof of the fact the company\u2019s directors is not bankrupt.<\/li>\n<\/ol>\n
After submitting all the documents to the bank, all directors and authorized persons are required to be physically present at the bank at the time of opening of bank account at the bank. This is to avoid rampant cases of money laundering in Malaysia. To ease the process of opening the bank account, you may appoint an agent to assist in the opening of a bank account in Malaysia. <\/p>\n FAQ (Frequently Asked Questions)<\/h2>\n\n \n Is Malaysia good for business?<\/div>\n \n Definitely. Being a multi-ethnic, multilingual, and multicultural country, Malaysia has emerged as one of the best environments for entrepreneurs in the Pacific region. The strategic location of Malaysia, its good infrastructure, skilled labor, political stability, and relatively low-cost structure all contribute to a competitive investment climate. Malaysia itself is an important and growing market for high-end products.<\/div>\n<\/div>\n<\/div>\n \n How long does it take to register a company in Malaysia?<\/div>\n \n \nAs mentioned above, it can be done within five working days. However, you shall reserve some extra time in case unforeseen circumstances happens.<\/div>\n<\/div>\n<\/div>\n \n Can a foreigner start a business in Malaysia?<\/div>\n \n \nYes, foreigners can start and own a business in Malaysia. As mentioned above, you have two options when starting a company.<\/div>\n<\/div>\n<\/div>\n \n Can Malaysia Permanent Resident (PR) start a business in Malaysia?<\/div>\n \n \nYes, Malaysia PR has no issues to start businesses in Malaysia.<\/div>\n<\/div>\n<\/div>\n \n Can a foreigner hold 100% shareholding in a Malaysia Company?<\/div>\n \n \nYes, a foreigner can be sole shareholder of the company.<\/div>\n<\/div>\n<\/div>\n \n What is the minimum amount of paid-up capital?<\/div>\n \n \nThe minimum amount of paid-up capital is RM 1.00.<\/div>\n<\/div>\n<\/div>\n \n How many directors are needed to incorporate a Malaysia company?<\/div>\n \n \nOnly one director may also act as the sole shareholder of the company. However, there must be at least one director who ordinarily resides in Malaysia.<\/div>\n<\/div>\n<\/div>\n \n Do I have to appoint a company secretary for my Malaysia company?<\/div>\n \n \nIt is mandatory to appoint a company secretary within 30 days from the incorporation date. The company secretary must have CCM practicing license.<\/div>\n<\/div>\n<\/div>\n \n What is business address and registered address?<\/div>\n \n \nThe business address is where you operate your business whereas a registered address is the place where all the company\u2019s statutory documents are kept at. The company\u2019s registered address is not necessarily the same as its business address.<\/div>\n<\/div>\n<\/div>\n<\/div>\n Are you looking for an agency that can help you to set up your Malaysia company?<\/h2>\nIf you want to have the contact information of an honest agency that can help you to register and manage your company, just send us a message using the following form:<\/p>\n\n | |
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