Do you know that in Malaysia, it is possible to incorporate a private limited company (sdn. bhd.) on your own ? All you need to do is to head on over to the SSM’s website at www.ssm.com.my and get started. But is it that easy? Yes, it is. The SSM has all the necessary information regarding company incorporations (and how – to’s) on their website.
You would first need to Register an account on the MyCoID portal as an individual user. Then wait for the activation email from the SSM. With the activation email, you will need to go to the nearest SSM office / branch and verify your identity documents (this is a one-time thing). Once your account has been activated, you may proceed to register your company. Sounds easy enough, right ? Need to know more? Download the MyCoID manual at the MyCoID portal.
What information do you require to have on hand before you register your company?
Do ensure that you have the following details on hand :
(1) the name of the proposed company – read the SSM’s guidelines on naming your company here
(2) the nature of business and the MSIC codes
(3) particulars of directors including name, ID (passport or NRIC), current residential address, date of birth, email address and mobile phone number.
(4) the amount of paid up capital of the company.
(5) particulars of the shareholders including name, ID (passport or NRIC), current residential address, date of birth, email address and mobile phone numbers. In the case of a corporate shareholder, you would need the appointment of corporate representative letters from the corporate shareholder, the company name & number, date of incorporation and place of incorporation.
(6) Payment of RM1,010 ( you may pay via online banking, credit or debit card/FPX payment)
How long would it usually take to incorporate a company?
If you have keyed in all the information correctly and the proposed name is approved, your company could be incorporated within a few hours to a few days.
What happens after your company is incorporated?
Once your company is approved, you will receive an email notification from the SSM stating that your company is registered pursuant to Section 15 known as the NOTICE OF REGISTRATION OF COMPANY.
You may then log into your Mycoid account and download a copy of the Superform (Section 14) which will contain details of your company including the name, date of incorporation, the company number, the registered office address, nature of business, business address (if applicable), names & particulars of all directors and shareholders, the amount of paid up capital and breakdown of shares to the shareholders.
You may also create an account with the MyDATA website, and purchase the certificate of incorporation or commonly known as the Section 17 form.
What next ?
Within 30 days of incorporation, you should pass the first board of directors’ (or if sole director) resolutions to appoint your company secretary and to confirm all the incorporation details. Once your company secretary has been appointed, you may then proceed to open your Company’s bank account.
Need a Company Secretary ?
Do not have a company secretary yet? Why not appoint us to take care of all your secretarial needs. You only need to contact us, from the safe comfort of your home, and we will ensure that your company is incorporated within 1 to 3 days (subject to approval by the SSM). You may also visit our website at www.allproconsultants.com and fill out the incorporation form and we will get in touch with you as soon as possible.
Why appoint a Company Secretary to incorporate your company for you?
- You do not have to visit the SSM for verification of your ID documents.
- The nearest SSM branch might not be so near after all.
- You are not aware of certain terminology and all the guidelines that exist.
- You need some advice on the type of business entity suitable for your nature of business.
- You still need to appoint an individual who is a member of certain professional bodies as prescribed by the Companies Act, 2016 as Secretary of the Company within 30 days of incorporation of the Company.
- You prefer to have the whole process of incorporating taken care of by a professional.
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