What You Need to Know About Registering a Sdn Bhd Company in Malaysia
Planning to start your very own business in Malaysia? Then this guide on how to register Sdn Bhd company in Malaysia is exactly what you are going to need as you get started on incorporating your very first company in Malaysia.
What is a Sdn Bhd Company?
Let’s start with the most obvious question – what is a Sendirian Berhad (or Sdn Bhd, as it is commonly known) company anyway? A Sdn Bhd company is a legal business entity in Malaysia that has its liability limited by shares.
When you register a Sendirian Berhad company, you will be incorporating a private company, and the words Sdn Bhd will appear together with the company’s name. A Sdn Bhd is also the most common form of business entity in Malaysia, with many foreign and local entrepreneurs opting to register a Sdn Bhd company.
The reason why Sdn Bhd companies are the most popular business entity option in Malaysia is because it is a separate legal entity from its shareholders. This means that the directors have limited liability for the debts and losses of the company.
How Would I Register a Sendirian Berhad Company in Malaysia?
All companies in Malaysia can only be registered through a licensed Company Secretary, which means you would need to appoint one for the process. All companies will be required to register with the Companies Commission of Malaysia, known locally as the SSM (Suruhanjaya Syarikat Malaysia). The SSM is the statutory body which regulates all companies and businesses legally operating in Malaysia.
All entrepreneurs will also be required to obtain approval for the intended or proposed business name from the SSM before you can proceed to the next stage of the registration process. Currently, all companies can only be registered in Malaysia via the SSM’s MyCoID system, which can only be done through your registered Company Secretary.
What Are the Requirements to Register a Sdn Bhd Company in Malaysia?
To register a Sdn Bhd company in Malaysia, you are going to need at least 2 directors who are residing in Malaysia, and 2 shareholders. Your directors must not have been declared bankrupt prior to their appointment.
You would also need to prepare the following details:
- The proposed company name.
- The business activities of the new company (a maximum of 3 should be listed).
- Photocopy of the passport (foreigner) or IC (Malaysian) for all directors and shareholders.
- The residential address of all directors and shareholders.
- Information about the paid-up capital of the company.
- The share structure of the new company.
Need a Hand? 3E Is Here to Help!
There is certainly a demand that is on the rise among entrepreneurs seeking to incorporate and register a Sdn Bhd company in Malaysia. That’s because registering a company in Malaysia is now easier than ever, especially when you’ve got a team like 3E Accounting on your side helping you navigate the process. 3E Accounting is the industry’s leading expert on all business setup and our panel of experts will help you meet all your business needs from start to finish.
If you’re ready to incorporate in Malaysia, then we’re ready to help you! For more information on our available services, visit the 3E Accounting website to get started.