Steps of Sdn Bhd Company Registration in Malaysia for Foreigners

During pandemic, all activities of SSM are bit slower than regular days. However, registration process is ongoing through online of SSM site. 

1. Hire secretary
2. Name registration
3. Company Registration Process
4. Virtual address
5. Required documents
6. Cost information
7. Bank account open
8. Post registration

Hire secretary

To hire a license company secretary is the first job before register a Sdn Bhd company as without company secretary registration is impossible. Now, if you want to hire a secretary must pay salary RM 5000 to above ! So, investors can find a consultancy firm who is expert in Sdn Bhd Company Registration in Malaysia for foreigners  or else waste of time. Be aware from flying agent who has not company secretary in house. If the expert or company registration consultancy firm proceed your application is low costly as they will charge maximum Ringgit 1000 yearly for company secretarial services. 

Name Registration

Definitely, you have chosen name of company so, let the secretary check availability of the name in SSM website. The same is valid for 30 days only after then expired automatically unless re-apply. Sometimes, company name is not available to book as name is already exist. A lot of, companies are required in Malaysia every month is the main reason of name unavailability. 

Company Registration Process

Now, let the secretary proceed of registration to SSM. Secretary will need those:

• Personal detail of the shareholder (s)
• Present and permanent address
• Current business and residence address in Malaysia
• Contact number and email

A form is duly placed to sign as declaration as proof of all information. And another form is placed to sign as declaration of non- bankruptcy. It might take 2-3 working days or might be faster to complete incorporation process. 

Virtual Address

Business address is requirement to apply for company registration and whether you have no business address at this moment is recommended to rent virtual address. Once, you manage full office upon rental agreement can terminate virtual address service from provider or secretary or consultancy office. This is cost effected plan to rent virtual address, temporarily. 

Required documents 

The following documents are needed to proceed of company registration:

• Passport of the shareholders
• 2 forms signing 
• Provide accurate basic information about company and shareholders 

Cost Information

To register Sdn Bhd company is required RM 1050 government fees. Additionally, secretary fee RM 1000-2000 yearly, virtual address RM 10-100 monthly. Some other costs are there after company incorporation are signboard license RM 1200, export import (if need) RM 3000 and ESD registration for visa purpose RM 10000-12000.

Bank account open

There are many banks available to open business account but not for the foreign directors. Only few of them allow foreigners to open business account upon initial deposit and some other conditions. Recommended banks are: OCBC, UOB, SCB and HSBC

Post registration 

This is not end that company incorporation is finished so there is no other responsibilities. But, this is must do by all companies submit annual return to SSM within 12 months of incorporation date. In terms of delay submit must penalty is imposed by authority of SSM. 

Contact us for any information

+601136901890, +601131234372 (WhatsApp from overseas)

Address: A-08-09, Tropicana Avenue, Petaling Jaya, Selangor, Malaysia

Email: info@sfconsultingbd.com, www.sfconsultingbd dot com