Registering a company as a sole proprietor in Malaysia: What do you need to know?

Registering a company as a sole proprietor in Malaysia: What do you need to know?

Considering the start of your business era, understanding the company registration process in Malaysia is extremely important. If you look for company registration Malaysia as a sole proprietor, this article is for you.

Why partnership, enterprise or sole proprietorship?

Only partnerships having owners can be easily registered and started with minimum capital requirements. Simply, you need to go to the SSM office's business registration counter and follow the application process in 1 to 2 hours. Start your business immediately SDN BHD registration Malaysia with ease.

What do you need before you go to the SSM office? ● You need to be a Malaysian citizen or have a permanent residential certificate. In this case, foreigners cannot register. But, if you are a foreigner looking for company registration Malaysia, there are lots of professionals working with enterprises that can help you with that. ● One copy of your Malaysian ID card. ● Cash (RM120-RM150)

How can you choose the business name?

You can definitely use your personal name or any other kind of name that is not primarily used by any other company within Malaysia as a business purpose. One of the biggest benefits of a limited liability company is that it is a limited liability, so every member experiences this facility. The benefits of a partner company and the benefits of a public company are also almost the same. You can start your business immediately after getting a certificate from the private company.

What happens if you are a foreigner?

If you are a foreigner looking forward to registering your own company in Malaysia, your official requirements will be pretty different from the residential business owners.

Here's what you need.

Company name: You will be required to register your company with the proper name when it comes to SDN BHD registration Malaysia. The company name needs to be unique and it must not be similar to any of the names of pre-existing organisations in Malaysia. Once you have chosen your name, you need to conduct a name search followed by filling in a reservation. It is then you'll get a document with the details.

Documents: For proceeding, you need to drop the documentation about the fact that you are starting your own private company. It is then you will need supplementary documents that outline your proposed business activities.

Official address in Malaysia: The subsequent step to your company registration Malaysia would be finding a suitable office location for your business. The official address of Malaysia does not need to be the official business address.

Shareholders: According to law you need to have at least two shareholders aged above 18 for your organisation.

Company secretary and directors: The Malaysian law also says that you need to have a minimum of two directors for your business with at least one of the directors being the President of Malaysia, whether permanent residency or by nationality. Later, you will gradually need to hire a professional company secretary that has approval from the SSM for you to proceed with your business activities.

Declarations and details of agreements by directors: The next step to your business registration process is to issue a document that contains all the details of the company directors and a signed letter from them declaring that their agreement is up to the rules and regulations of the company formation.

To conclude, while the procedure of company registration Malaysia may seem challenging, with our help, at Premier Three Consulting Firm, the process can go along smoothly. Registering your organisation in Malaysia comes with various benefits for you. Make sure to reach out to us as we provide free advising as well.

Know more information: https://bestconsultingfirm.wordpress.com/2022/02/16/registering-a-company-as-asole-proprietor-in-malaysia-what-do-you-need-to-know/ Address: A-SG-22, Sunway Geo Avenue 1, Block A, Jalan Lagoon Selatan, 47500, Bandar Sunway, Selangor.

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