Frequently Asked Questions
- Who can become a director of a Private Limited Company / Sdn Bhd?
- a person must be of age 18 years and above
- a person must not be an Undischarged Bankrupt
- a person must not been convicted whether within or without Malaysia of any offence:-
- in connection with the promotion, formation or management of a corporation;
- involving fraud or dishonesty punishable on conviction with imprisonment for three months or more; or
- under section 132, 132A or under section 303, within a period of five years preceding the date of this declaration.
- a person must not been imprisoned for any offence referred to the above offences within the period of five years preceding his appointment
- at least two directors who each has his principal or only place of residence within Malaysia
- Can a foreigner become a director of a Private Limited Company / Sdn Bhd?
YES! A foreigner can become a director of any private limited company as long as he / she fulfill the requirement sets in No. 1 above.
- Who can become a company secretary of a Private Limited Company / Sdn Bhd?
- a member of MIA (Malaysia Institute of Accountants)
- License Secretary of SSM (Suruhanjaya Syarikat Malaysia) ie. Registrar of Companies
- Member of MAICSA (Malaysian Institute of Chartered Secretaries and Administrators)
- Lawyer in Malaysia
- There are two simple steps to form a Sdn Bhd in Malaysia:
- Name Search (doesn’t required signature from directors / shareholder). Will get the result in 1 working day.
- Submission of documents (Required signature of all the directors and shareholders) will be ready in 3 working days.
- Information required for incorporation are as follows:
- I/C or Passport Number
- Full name as per I/C or passport
- Residential address in Malaysia
- Propose company name
- Nature of the business of the company
- What is the Charges for Formation of a company?
- When we will start to process your application for setting up Sdn Bhd?
- We will only process the application for name search upon receive of the Deposit of RM300.00.
- We will only submit the documents upon receive the balance of payment for submission.
- What are the RM2,500 for?
Please click here for details.
- Payment Term:
- RM300 deposit upfront (not refundable)
- Balance of payment for submission is payable upon approval of the company name (it’s also not refundable because we have to pay to SSM for registration by the time we submit the document)
- Our secretarial fee & charges:
Please click here for details.
- What is CCM?
- CCM is the short form of The Companies Commission of Malaysia, it’s a government body regulate companies and business in Malaysia (http://www.ssm.com.my/)
- CCM is not short form of some of the company secretary’s website which aimed at creating confusion to the public
- We received numerous complaint from our clients on the above confusion
- Can I form a Sdn. Bhd. all by myself?
Yes if you are a qualify person to act as the company secretary (please refer answer for Q3).
- What is my responsibility after set up the company?
- After commencing the business the company must register / submit CP204 (income tax)
- To maintain the company account and book keeping for the internal audit
- 12 month form incorporation date the company must prepare company account to be audit (active or dormant)
- Within 15 – 18 Month incorporation must submit Annual return and Audited Account To CCM declare to the Government
- Every company must have consistent balance to be maintain
What is Paid-up Capital?
Paid up capital or issued capital is the amount of fund injected into a company as the company funds. Once the fund is injected into the company bank account and the paper work for such increase is completed. The company may use the fund to buy assets, for renovation, buying stocks or for working capital.
How to Change Company Secretary?
- Can I change my company secretary anytime?
Yes it’s the board of directors’ power to change the company secretary anytime.
- Why you want to change your exiting company secretary?
- He / She tooks too long to get a document done or long lead time
- He / She is not capable in giving advices on company matters
- He / She not informing you early on certain deadline of certain documents to be submit to CCM
- He / She giving unprofessional or unethical services
- Pricing unreasonably high and with lots of hidden charges
- Couldn’t or difficult to contact him/her from time to time
- He / She not specialised in company secretarial matters