7 Easy Steps To Register Your Company With SSM in Malaysia
A private company limited or Sdn Bhd is one of the most popular types of Malaysian company registration. The popularity of these types of entities has greatly increased since the implementation of the Companies Act 2016.
However, companies have to keep in mind that the rules and regulations of company registration in Malaysia often change, so it’s important to keep up with the evolving regulations and ensure they are in maximum compliance with the law.
Following are the seven steps that you should follow to register your company with the Companies Commission of Malaysia (SSM):
Step 1: Meet the Eligibility Criteria
First of all, make sure that you meet the eligibility criteria to incorporate your company in Malaysia. You will need at least one director and one shareholder for Malaysia company registration. Under the Companies Act 2016, the director and shareholder can be the same person. Moreover, the director of a company should be:
- 18 years old or above
- A resident of Malaysia
- Not disqualified or deemed ineligible for the role of the director under Section 198 of the Companies Act 2016.
You should also become familiar with the roles of both directors and shareholders in a Malaysian company to make sure the person(s) appointed to these important roles can carry out their responsibilities.
Step 2: Gather Information and Documents
- Proposed company name
- Nature of the business
- Registered business address
- Detailed information about the directors and shareholders
- IC for identity verification.
- If the company name of your choice is already registered by an entity, then you will require an authorization letter.
Step 3: Payment
Step 4: Incorporation via MyCoID Portal
Step 5: Account Activation
Once you have registered the account on the MyCoID portal, you will get an email to activate your account. After the initial account activation, visit an SSM counter to validate your registration. Finally, after verification, you will receive the login credentials through email.
Step 6: Company Name Search
The next step is to choose a unique name for your company that will help you establish a proper brand for your business and ensure you are complying with the legal rules and regulations related to selecting a company’s name.
You can use the MyCoID portal to search the database and ensure your proposed name is available.
Step 7: Input Information
In the final step of Malaysia company registration, use of all of the previous steps in the following ways:
- First, enter the proposed company name in the final form and provide all of the essential details about it, like any controlled trademark or the authorization letter, if applicable.
- Select the business code related to the type of business you want to establish and give a description of it and the registered business address.
- Provide the essential information about company directors and shareholders gathered in the second step.
- The final page will provide you with the complete application. Review it to ensure there are no errors in the application.
- Submit the application, along with the incorporation fee of RM1,010.
In a Nutshell
You will receive a Notice of Registration after 1 or 2 days that will show that your company has been approved by the SSM.
However, if your application is rejected, or if you have any trouble with company registration, you can always contact professional accounting services in Malaysia to help you out and get through the company incorporation process.
For more information, feel free to get in touch with us.
