To successfully register your business in Malaysia, it’s essential to follow these structured steps:
Step 1: Optimal Business Structure Selection There are various business structures in Malaysia, including Sole Trader, Partnership, Private Limited Company (Sdn Bhd), Public Limited Company (Bhd), Limited Liability Partnership (LLP), Branch Office, and Representative Office. Fionza Consultants will analyze your business activities, requirements, and long-term goals to recommend the most suitable legal entity.
Step 2: Fulfill Pre-Registration Requirements Depending on your chosen business structure, specific pre-registration prerequisites must be met. These may include:
- Appointing one local resident director.
- Providing a registered local office address.
- Preparing essential documents like Articles of Incorporation, Business Plan, Company Constitution, and personal information of directors and shareholders. Fionza Consultants will guide you through these requirements and assist in meeting them.
Step 3: Reserve Your Business Name You must verify the availability of your desired business name through the Suruhanjaya Syarikat Malaysia (SSM) online system. Once confirmed, you’ll need to reserve the selected name with the SSM Registrar of Companies.
Step 4: Business Registration Submit all prepared documents to the SSM Registrar of Companies to initiate the business registration process. Upon completion, Fionza Consultants will obtain the Certificate of Incorporation and other relevant incorporation documents and have them couriered to your preferred address.
Step 5: Corporate Bank Account Opening After your business is incorporated, it’s crucial to establish a corporate bank account with a reputable financial institution. Fionza Consultants leverages its extensive banking network to facilitate this process, having worked with banks such as Maybank, RHB Bank, and Standard Chartered Bank.
Step 6: Fulfilling Post-Registration Requirements To conduct business in Malaysia, you must secure relevant business licenses. Additionally, you need to register your business for taxation with the Inland Revenue Board of Malaysia.
Step 7: Ensuring Ongoing Compliance Fionza Consultants remains committed to maintaining your business’s compliance with government policies. We will provide assistance in preparing timely tax returns, financial statements, and other necessary compliance-related tasks.
By following these structured steps and leveraging Fionza Consultants’ expertise, you can navigate the business registration process in Malaysia smoothly and efficiently while ensuring ongoing compliance with regulatory requirements.