How to incorporate company in Malaysia?
Tetra Consultants will assist you to incorporate Malaysia company using the methodology below. This is to ensure you are fully aware of the different requirements and regulations to successfully incorporate a company in Malaysia. In some cases, the company may be required to apply for licenses before they can legally start operations in the country.
Simply put, we can break down each engagement into three different phases:
- Planning & strategy
- Incorporation & bank account opening
- Staying compliant
By systematically following the above three phases, you can expect to start conducting business with your Malaysian company within 6 weeks.
Planning & strategy
- Our team of experts will recommend the most suitable business entity depending on your business goals and activities. Before the start of the engagement, Tetra Consultants will advise on the optimum paid up share capital, regulatory requirements and whether there is a need for licenses for the intended business activity.
- Tetra Consultants reserves your preferred company name with the Malaysian government authorities. Before registering the company, Tetra Consultants provides you a local company secretary and a local nominee resident director.
- Our legal team will draft a nominee director agreement to be signed by all parties, ensuring this nominee is passive and does not have any decision-making power in the company. At the same time, our team will provide the due diligence documents of our nominee, including his passport and proof of address.
- According to the business activity and corporate structure, Tetra Consultants will draft articles of incorporation, business plan and other incorporation documents.
Incorporation & bank account opening
- Once the documents are ready, we will proceed to file for registration with SSM. On average, the Malaysian authorities will take 14 days to approve the company incorporation.
- After company registration, Tetra Consultants will courier the Certificate of Incorporation, Memorandum & Articles of Association and other corporate documents to our international clients’ preferred address.
- If required, Tetra Consultants will assist our clients to apply for Wholesale Retail Trade License with the Ministry of Domestic Trade, Cooperatives and Consumerism (MDTCC).
- Our banking team will commence the corporate bank account process. Tetra Consultants will on-board your newly established company with reputable Malaysian banks. Some of the banks we work with include Maybank, RHB Bank and Standard Chartered.
- On average, the corporate bank account will be opened within 4 weeks after company incorporation. Tetra Consultants will courier the internet banking token and access codes to our clients’ preferred addresses. See this webpage to find out more about corporate bank account opening for Malaysia companies.
Staying compliant
- You can be confident you are in the best hands when Tetra Consultants undertakes your Malaysian company’s accounting and tax services.
- Tetra Consultants will timely prepare your firm’s financial statements, corporate tax returns and bookkeeping on your behalf.
- Tetra Consultants will complete all annual filings and tax returns for your company before the stipulated deadlines set out by the government.
- If you plan to be physically present and working in Malaysia, Tetra Consultants will secure a Malaysia work visa for you.
Contact us to find out more about how to incorporate a company in Malaysia. Our team of experts will revert within the next 24 hours.
FAQ
What are the kinds of business structures available in Malaysia?
- The most common types of business entities for Malaysia company registration are the Sendirian Berhad which is equivalent to an LLC, limited liability partnership (LLP), sole proprietorship, joint venture, branch office, representative office.
What are the minimum requirements for forming an LLC in Malaysia?
- The minimum requirements for a limited liability company in Malaysia are a shareholder of any nationality, a Malaysian resident director, a Malaysian company secretary, a Malaysia registered office address with the benefit of no minimum paid-up capital requirement.
How much does it cost to incorporate a company in Malaysia?
- This depends on the exact services required from Tetra Consultants. Our fees are inclusive of government fees, and all fees will be clearly stated in our engagement letter before the start of the engagement. Tetra Consultants believes in transparency with our valued clients and there are no hidden fees.
Can a foreigner incorporate a company in Malaysia?
- Yes, a foreigner can incorporate a company in Malaysia.
What documents are required to incorporate a company in Malaysia?
- To proceed with company registration in Malaysia, for a start, you are required to provide the notarized passport copy, proof of address, CV, and proof of income of the individual director and shareholder of the company.
- If the shareholder is another entity, we will require the Certificate of Incorporation and Memorandum and Articles of Association of the corporate shareholder.
- Once Tetra Consultants receives the above, we will review the documents and provide you with an updated due diligence checklist with the list of outstanding documents.
Can a foreigner be a director of a company in Malaysia?
- In Malaysia, all Sdn Bhd forms of corporations must have at least one director who is a Malaysian citizen. An individual must be at least 18 years old and not prohibited under Section 198 of the Malaysian Companies Act of 2016 to be appointed as a director of a corporation.
How many directors must a company have in Malaysia?
- According to section 122 of the Malaysian Companies Act of 2016, there should be at least a minimum of 1 resident director to register a company in Malaysia.
