If you are looking forward to starting your business in Malaysia, you are likely to possess plenty of questions about the licenses, procedures, permits, and taxes of the company incorporation in Malaysia. You might be wondering about additional issues that can influence your business. To clear your doubt, Malaysia happens to be one of the business friendly places having a global ranking of 18. Here are the answers to the common questions you might have when it comes to company registration in Malaysia for foreigner and residents.
Where Can You Go to Register Your Company?
Every company operating within Malaysia happened to be registered by the companies commission of Malaysia. It is one of those agencies responsible when it comes to overseeing corporate governance problems.
What sort of business entity to register?
When it comes to company registration in Malaysia for foreigner, foreign investors only are allowed to set up private limited organisations. When it comes to the resident Malaysians, only they are able to set a public liability of sole proprietor companies. But, if you are a foreigner, you can always register a 100% foreign owned company if you get your organisation approved by the ministry for trade consumerism.
What is the number of people needed for company registration?
According to the Malaysia companies act 2016, sole individuals are allowed to register when it comes to Sdn Bhd companies. It is as the act facilitates for one shareholder who originally can also be listed as the company director.
Is there any requirement to be in Malaysia for registering a company?
When it comes to company incorporation in Malaysia, it is recommended that you can become familiar with the environment of business you are likely to operate in, however, it is not at all mandatory for you to physically be present in Malaysia. You are free to utilise company incorporation services if you do not stay in Malaysia as well.
What is the requirement for directors?
For being a director you need to be a person who has resided at least for 18 years in Malaysia and you must not be convicted of an offence in your last 5 years and not be bankrupt as well.
Who is in charge of processing incorporation documents?
When it comes to the documents for company incorporation in Malaysia, you need to appoint an organisation for handling the legal paperwork. The organisation will appoint a lawyer for handling its legal affairs.
What is the amount of capital you will require?
After your company happens to be registered you will need to inject a minimum of RM1 per shareholder. It is one of those amounts that will remain in the bank account so that you can change it based on the particular capital demands you would require for meeting particular permits and licences.
What type of work do you require to do in Malaysia?
For working in Malaysia you need to be a shareholder with an approximate 50% shareholding concerning the paid up capital concerning the company. It facilitates you in getting an expatriate Visa when it comes to your family.
To Conclude
These are some of the common questions that might come to your mind when it comes to incorporating your company in Malaysia. Now that we have answered them all, things will be easier!
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