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Foreign Company Formation FAQs - Real questions, real answer -- as asked by our customers

 

FAQS by foreigners with intention to set up business in Malaysia.

 

What are the advantages of registering a Sdn Bhd (Private limited) company?

Your liability is limited only to the amount of capital that the shareholders contribute into the Company.
A Sdn Bhd’s shareholding is much more liquid, as compared to a Sole Proprietorship’s or Partnership’s. It is much easier to amend existing shareholding or add additional shares into the Company for new investors.
A Sdn Bhd entity is deemed more established and are more likely to help your business’ credibility.
A better transparency and accountability in terms of auditing and tracking the Company’s balance sheet.
The business does not die with the founders, because the incorporation of a Sdn Bhd makes it a legal entity in itself.
You can appoint non-Malaysian directors into the business venture.

 

What is SSM and CCM?

SSM or Suruhanjaya Syarikat Malaysia is the malay term of CCM or Companies Commission of Malaysia. They serve as a government agency to incorporate companies and register businesses as well as to provide company and business information to the public.

 

What do I need to submit in order to incorporate a company in Malaysia?

We would just require you to fill up the registration form and submit the passports or ICs of the directors. There must be at least 2 directors as stated by the companies act of Malaysia.

 

How long will it take to incorporate a company under a Sdn Bhd set-up?

It will take 14 working days depending on the SSM’s portal and how long you will need in completing the documentation.

 

Can I still get my company incorporated in Malaysia even without my presence there?

Yes, we can do the whole company incorporation process even if you are not able to come to Malaysia due to some reasons. You can just courier your original signed documents to us and get the forms be notarized by the Notary Public in your country. However, you would need to come to Malaysia on the opening of your bank account as this is usually a strict policy of banks here.

 

Can I already start doing business in Malaysia even if my company is still being processed for incorporation?

Yes, with our Instant Office services, you can already start your business while waiting for your company to be incorporated. We will provide you with receptionists to answer your calls, a prestigious business address, meeting and workstation facilities for you to use and other services that you may need. Please call us at +603 2788 3555 to speak to our Solutions Consultant or you can also check out the plan page at http://voffice.com.my/virtual-office-malaysia-plans.html.

 

How much is the standard authorized paid-up capital?

The authorized capital would be a minimum of Rm400,000.00.

 

How much should I pay if I want to increase my authorized paid-up capital?

Below is the newly updated schedule where you can see the government charges according to your company’s requirement for your authorized paid-up capital:

Authorised paid up capital
Registration Fee for SSM
Up to 400,000.00
1,000.00
400,001 - 500,000
3,000.00
500,001 - 1,000,000
5,000.00
1,000,001 - 5 MIL
8,000.00
5,000,001 - 10 MIL
10,000.00
10,000,001 - 25 MIL
20,000.00
25,000,001 - 50 MIL
40,000.00
50,000,001 - 100 MIL
50,000.00
100 MIL and above
70,000.00

 

What is the difference between Authorized paid-up capital and Paid-up capital?

Authorized paid up capital is the maximum amount of shares that a company is allowed to issue to its shareholders. This is indicated in the Memorandum of Association and is also known as the ceiling of the paid-up capital. Paid up capital, on one hand, is the physical funds that a company injects into their bank account for the business operations.

 

Why should I increase my Paid-up capital?

When you are applying or seeking for the following purposes. You would be required to increase your paid-up capital to a required amount of your application.

Bank loan
Project tender requirement
Business license
Corporate image
Work permit application

 

The directors are all foreigners. We do not have a local partner. Is this acceptable?

Yes, we can register a 100% foreign owned company.

 

What is/are the advantage/s of having a local partner as a director?

If your business will be into wholesale, retail, trading, import/export, consultancy, or food and beverage industry, you would be exempted of the required license of your company which is the WRT license if your local partner has at least 51% shareholding in the company.

 

What is a WRT License?

Wholesale and Retail Trade (WRT) license is required by all companies that are in the wholesale, retail, trading, import/export and restaurant business which have foreign shareholding. The WRT license is required by all the said business sectors before they can apply for a professional work permit. This requires your company to have at least Rm1million paid-up capital.

 

Are you able to assist us in opening a bank account in Malaysia?

Yes, we can provide you with a bank resolution certified by the Company Secretary. Bank officers would require to meet you personally in their premise upon your application of a new company account.

 

What are the procedures in incorporating a company?

Company Name Search
With meanings of the proposed company names. For example, AJU International Sdn Bhd - Azul, Jasmine, Urma - names of our son and daughters.
Creating the documents
Signing of documents
The prepared documents will be emailed to you if you are in overseas. If you are in KL, this will be emailed and handed over to you in our office or you can choose to print the documents from your side to save time and petrol. The Form 48A must be stamped and signed by the Commissioner of Oath in Malaysia. If you are in overseas, you can get this particular form be notarized by the Notary Public in that country.
Submit the original documents via courier or personally
When your documents are all signed, we will then submit it for approval to SSM.
Company Registration Number be informed
Complete set of your Company Formation documents is ready for pick-up
Memorandum of Associations booklets, Form 9, Other Company Certificates, Company Secretary’s Appointment, Rubber Stamp, and bank resolution will be provided.
Open a Bank Account and Apply for licenses for your business operations

Note: It is strongly advised that all directors must be present in front of the bank officer upon opening of the company bank account.

 

What are the statutory costs in maintaining a company in Malaysia?

Other than the operational expenses required by your business, the other costs will be as follows:

Certified company secretarial fees of RM720/year (Rm60.00/month) for the preparation & maintenance of your company statutory records.
Filing of annual return for submission of yearly financial information - RM500/year.
Auditing & Taxation preparation of your company account is required for the annual return submission mentioned above. Fee starts from RM 2,000.00/year.. The actual fee is depending on the volume of financial transactions of the company. For an average size company estimated RM 3 to 4,000.00/year.
Yearly financial accounts report is needed for auditing & taxation purposes. Our fee starts from Rm2,000.00/year.

 

How many types of business licenses can we apply?

Business license depends on your nature of business. You are only required to take the business license that is appropriate for your nature of business. Give us further information on your nature of business so we can advise you what is needed for your company.

 

When I have already incorporated my company, am I able to stay in Malaysia and run my business?

Having a company in Malaysia doesn’t mean that you can already stay here for long term. However, you can get a local manager to run your company. You can stay in Malaysia only on a social visit pass unless you apply for a work permit which allows you to stay for a maximum of 2 years and is renewable.

 

When my company is already fully incorporated, am I able to buy a house or a property already?

Yes, you are able to buy properties under the name of your company. However, it doesn't mean that you can already stay in Malaysia having this ownership. You would still be required to go through a work permit process or through an MM2H application in order to stay here for long term.

 

After company formation, can I already apply for a work visa?

You will need to meet certain guidelines first. One of which is you are required to increase your paid-up capital to a certain amount required by the government depending on your nature of business. We would require your bank statement on this.

 

What are the guidelines in order for me to be eligible for a work permit?

Employer Company must be a Sdn Bhd
Must provide details of the nature of business as in SSM Profile and provide more specific business details
The Company should meet up the existing paid up and authorized capital requirement. (Minimum requirement in this case is RM500,000.00 to RM1,000,000.00
Details of shared ownership breakdown (Percentage shares of each - Bumiputra, Other Malaysians, Foreigners)
The Company Profile must be provided
Must specify if are there any financial accounts and banking account transactions
Must provide number of applications and their nationality
Information is needed regarding the number of local employees in the company and what is the ratio of local & foreign work force
Position applied and job description must be clearly presented
Age should be at least 25 years old
Salary should be at least RM5,000.00

 

Do I have a limit in the number of work visa applications I am going to make for my company?

You can apply for a work visa for as many staff as you can just as long as your company meets the eligibility requirements indicated above.

 

What if I decide not to continue with the incorporation, will I get money-back guarantee?

We can only give you money-back guarantee if we are still on the documentation part. If we are already submitting the documents for approval to SSM, we cannot allow money-back guarantee anymore. We will only take Rm1,000.00 as the processing fee and all the rest, we can refund.

 

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