Malaysia Company Incorporation

In Malaysia, a company having a share capital may be incorporated as a private company. These companies are identified and distinguished through the words in Malay language “Sendirian Berhad” or “Sdn. Bhd.”, which carry the meaning of private limited, appearing together with the company’s name.

Pursuant to the Companies Act 1965 regime which was ended on 31 January 2017, the new Companies Act 2016 (“Act”) had drastically amended the requirements for the incorporation of a private limited company, as follows:

(i) one or more subscribers to the share(s) of the company;

(ii) one or more directors; and

(iii) a company secretary under a firm;

both the director and company secretary shall have their principal or only place or residence within Malaysia.

Thereafter, there is a requirement to lodge an  application for the name of your prospective company with a prescribed fee, at Companies Commission of Malaysia (CCM) and the Registrar of Companies (“Registrar”) may reserve the name for a period of thirty (30) days from the date of lodgement of the application. When the Registrar is satisfied that the chosen name is not;

(i) undesirable or unacceptable; or

(ii) is one of those which has been directed by the Minister not to accept for registration; or

(iii) is one that is identical to a name of an existing company, corporation/ business; or

(iv) one of those which are being reserved under the law itself.

Upon the approval for the proposed company’s name, the applicant is required to lodge an application for incorporation to the Registrar. This application for incorporation shall be accompanied with statement of particulars, amongst others;

(i) the name;

(ii) the company status being a private or public;

(iii) nature of business;

(iv) proposed registered office address;

(v) the member(s)’ identification, nationality and ordinary place of residence (other information are required when the member herein is a corporation);

(vi) the director(s)’ identification, nationality and ordinary place of residence;

(vii) the secretary’s identification, nationality and ordinary place of residence;

(viii) the details of class and number of shares to be subscribed by the member(s); and

(ix) any other information which the Registrar may require.

The abovementioned application for incorporation shall also be accompanied with a statement by each promoter or director confirming that, (a) his consent to act as promoter or his appointment as a director (as the case may be), and (b) he is not disqualified under the Act.

By | 2017-04-15T23:26:09+00:00 April 15th, 2017|Governments|Comments Off on Malaysia Company Incorporation