How to Incorporate a Private Limited Company in Malaysia

How to Incorporate a Private Limited Company in Malaysia
View Full Size

(Sec) How to Incorporate a Private Limited Company in Malaysia: A Step-by-Step Guide for Investors

With over 50,000 private limited companies incorporated in Malaysia in 2023, the country remains a hot spot for new businesses. Whether you're a local or international investor, setting up a company in Malaysia is an attractive option.

To make the process smoother, here are six essential steps to help you get started on your entrepreneurial journey.

1. Company Name
Choosing your company name is the first step. The name must be unique, not identical to an existing company, and must meet the standards set by the Companies Commission of Malaysia (SSM). Your company secretary will handle the name submission to ensure it meets SSM's requirements and is available for registration.

2. Business Activity
When incorporating your business, you will need to select up to three categories from the MSIC (Malaysia Standard Industrial Classification) code. These categories define your business's nature and scope, and getting them right is key to starting off on the right foot.

3. Share Capital
While the minimum paid-up capital in Malaysia can be as low as RM1, it is recommended to have more than RM1,000 to facilitate the opening of a bank account. A higher capital not only reflects better financial standing but also helps in building credibility with banks and clients.

4. Registered Office Address
Every company must have a registered office address for receiving official correspondence. This is usually provided by your corporate secretary, ensuring all legal documents and notifications are properly handled.

5. Director and Shareholder Requirements
Your company needs at least one director and one shareholder, both of whom must be over 18 years old. If your company only has a foreign director, they must reside in Malaysia to meet local regulations.

6. Opening a Company Bank Account
Opening a traditional bank account can be challenging for newly incorporated companies without solid business documentation. Many opt for electronic banking solutions like Payoneer at the start, until they can provide sufficient business evidence, such as contracts and proof of revenue growth. Most banks will also require a valid business address as part of their compliance process.

By following these steps, you’re on your way to incorporating your private limited company in Malaysia. To learn more about how we can assist you with this process, visit our blog at KTP or THKs. We specialize in helping investors navigate company incorporation, and our team is ready to guide you through every step.

Visit Us

  • Wisma KTP, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

  • Wisma THK, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

KTP (Audit, Tax, Advisory)

An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients

THK (Secretarial, Bookkeeping, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

An external job community on vacancies in Johor Bahru for interns, graduates & experienced candidates.

#Thk

#KTP


 

THK Group of Companies THK Management Advisory Sdn Bhd 200401000220 (638723­X) THK Secretarial PLT 202304003367 (LLP0037327-LGN)

Wisma THK, No. 41, 41-01, 41-02, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru, Johor, Malaysia.
+6012-771 7903 (Secretary Department)
+6012-771 7803 (Account Department)
+607-361 3443
 

PDPA Form

 
 
Switch to Mobile Version
Subscribe Newsletter