LEGALISING YOUR BUSINESS - SME Corporation … YOUR BUSINESS ... to transform your business into...

What is What?

Steps to Register

Checklist

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LEGALISINGYOUR BUSINESS

STARTMEUPBusiness Toolkit for Startups32

SoleProprietorship

PrivateLimited

Company (Sdn. Bhd.)

Limited Liability

Partnership(LLP)

Partnership

LEGALISING YOURBUSINESS

The Companies Commission of Malaysia (Suruhanjaya Syarikat Malaysia or SSM) is a statutory body which regulates companies in Malaysia and businesses in Peninsular Malaysia to ensure compliance with legislation through comprehensive enforcement and monitoring activities. SSM also assist in providing companies and business information to the public. Business registration (sole proprietorship & partnership) in Sabah and Sarawak is being regulated by the respective authorities and district offices.

WHAT IS WHAT?

As a business owner, you must determine what kind of business entity that you want to form and manage in compliance to the business law before engaging in the business. By choosing the most suitable entity for your new business, it will help to maximise your financial and operational success.

In Malaysia, generally there are four different set-ups to suit your nature of business, namely:

What kind

of business

establishment

do you want to

set up?

Is yourbusiness entityowned solelyby yourself? Or do you

have a partnerto share the

company’s assetsand liabilitieswith?

STARTMEUPBusiness Toolkit for Startups 33

AT A GLANCE:CHOOSING A FORM OF OWNERSHIP

Sole Proprietor Partnership Limited Liability Partnership

Private limited company

What is it?

Suitable for

Common examples

Liability

Estimated Cost

Time for Registration

Income Tax Compliance

A business wholly owned by a single individual using a personal name or trade name

Micro and small businessesMost suitable for a one-person venture with no employees

Shopkeepers, hair salon, plumber, art and craft shop etc.

Unlimited liability. Which means if you cannot meet your debts, your creditors can go after your personal assets

RM60 - RM100++(~RM30 yearly maintenance)

1 hour at SSM counter

Profits taxed at personal level. Unfavourable as cannot enjoy the preferential tax rate given for small companies

Same as a sole proprietorship, except there is more than one owner

Most suitable for professional firms and ventures that do not seek to raise funds

Accounting firms, solicitor firms, etc.

Unlimited liability. All partners are jointly liable for losses and failures

RM100++(~RM30 yearly maintenance)

1 hour at SSM counter

Profits taxed at partner’s personal level. Unfavourable as cannot enjoy the preferential tax rate given for small companies

Hybrid between a private limited company and partnership

Start-ups and small businesses

Professional service businesses

Protection of limited liability to its partners with flexibility of internal business regulation similar to a conventional partnership

RM500++(~RM200 yearly maintenance)

4-7 working days

Treated like a Sdn. Bhd. with similar preferential tax treatment on 1st RM500,000 of chargeable income

A separate legal entity formed by several persons that can own property, draw contracts & employ people. Cannot sell shares to public

Most common form of entity in Malaysia. Suitable for SMEs

Family owned businesses, small engineering & manufacturing firms, etc.

Limited liability. If company fails to meet its liabilities, creditors cannot seize owners’ personal asset

RM1,060++(~RM2,500 yearly maintenance)

7 working days

Enjoy a preferential tax rate at 18% for the 1st RM500,000 chargeable income. Better tax planning and savings.


Sole Proprietor Partnership Limited Liability Partnership

Private limited company

Business continuity

Financing opportunities

Recommended for

Our views

Business ownership cannot be transferred. Business will be terminated after owner has retired or passed away.

Not many options. Funding can be in the form of micro financing or depends on the owners capacity and wealth

Owners wanting minimal formalities, maximum flexibility, and not worried about personal liability.

Of course, this is the cheapest, simplest & easiest way to start a business. However, this type of entity is only suitable if you plan to remain small. Overtime you need to transform your business into Sdn. Bhd. after generating a stable income.

Business ownership cannot be transferred. Business will be terminated after a partner has retired or passed away.

Different partners may have different personal capacity & wealth. Bankers may not accept such differences.

Owners wanting minimal formalities, maximum flexibility, and not worried about personal liability.

Again, you need to transform your business into Sdn. Bhd. for growth and as mentioned earlier, this form is more suitable for professional firms

Company will still exist even after key partners has passed away.

LLP is still relatively new in Malaysia and may not be well understood by banks & Government agencies.

Owners wanting the liability protection of a company and intends to run a small scale business.

LLP has lesser compliance requirements and is therefore a more affordable business vehicle. However, the form is not sustainable once the scale of operations gets big and you need to infuse additional stakeholders

Company will still exist even after key owner has passed away.

Easier and higher creditability for financing as company is perceived as more reliable and sustainable

Owners wanting the liability protection of a company with less corporate formalities, and simplicity of pass-through taxation of income.

The best choice for SMEs as customers prefer to trade with Sdn Bhd. due to higher commitments & responsibilities in operation.


1. REGISTRATION OF SOLE PROPRIETOR OR PARTNERSHIP

Registration for sole proprietorship or partnership in Malaysia is for Malaysian Citizen or a Permanent Resident of 18 years and above only. Registration can be done within one hour and you can start your business immediately!

Remember, the nature of the registered business should not contravene any laws or likely to be used for unlawful purposes or any purpose prejudicial to or incompatible with the security of the Federation, public order or morality.

a. What you need to bring / have?

• Photocopyofownerand/orpartner’sidentity card (IC)• Permit, license, approval or supporting letter for the type of

businesses e.g. Nursery (Department of Social Welfare), Kindergarten, Tuition Centers, Schools/College (Ministry/ Department of Education) or other relevant agencies if required by the Registrar of Business

• Cash (RM60 – RM100) for registration fee:- Sole proprietorship using personal name as stated in the identity

card – RM30- Sole proprietorship or partnership using trade name - RM60- Registration of branches – RM5 for each branch- Business information printout – RM10

• Yourbusiness’s name & business activity

b. Business may be registered using personal name or using a trade name

• Thebusinessnameusingpersonal name as stated in the identity card: Example: Ruslan bin Mohamed, Siow Ah Thai or, Ramasamy a/l Muthusamy• Trade Name is the name of the proposed business and must obtain

prior approval from the Registrar of Business. Example: Kedai Dobi Mewah, Lucky Star Catering or ABS Unggul Enterprise.• Whenyou’rereadytoregisteryourbusinessname,completethe

Business Name Approval Form (Form PNA.42) with three (3) proposed business names. Business names will be approved according to priority and will be attached to the New Business Registration Form (Form A) at the counter.

STEPS TO REGISTER


c. Complete the Business Registration Form (Form A) with the following information:

• Businessname• Commencementdateofbusiness• Principalplaceofbusiness• Theaddressofthebranchofbusiness(ifany)• Informationofownerandpartners• Typeofbusinesscarriedout• ProvideacopyofthePartnershipAgreement(ifany)

d. Every business owner and partner must sign the completed Form.

e. Person responsible must submit the application to counter or through online via SSM e-Lodgement services in the SSM’s website at www.ssm.com.my.

f. A new business registration may valid for a period of 1 year and does not exceed 5 years on each registration.

g. Business Registration Certificate can be obtained within 1 hour from the time payment is made.

h. A person who carries on business without registering a business commits an offence under the ROBA 1956 and if found guilty be fine not exceeding RM50,000 or imprisonment for a term not exceeding 2 years or both.

i. Even though businesses have been registered with SSM, business owners are responsible to obtain licenses, permits or approval letters from other relevant authorities in order to operate their businesses.

Note : Please refer to online guides at http://www.ssm.com.my/en/services_registration for details.

• GuidelinesforChangesinBusinessParticular• GuidelinesforRenewalofBusinessRegistration• GuidelinesforTerminationofBusiness• ResponsibilitiesofOwnersandBusinessPartners


Checklist for Business Registration

Detail Checklist

Complete FORM PNA42• Personalnameortradename• Typeofbusiness

Complete FORM A• Businessname• Commencementdateofbusiness• Principalplaceofbusiness• Theaddressofthebranchofbusiness(ifany)• Informationofownerandpartners• Typeofbusinesscarriedout• ProvideacopyofthePartnershipAgreement(ifany)

Signature of an owner or partner on both form

Photocopy of owner or partner’s identity card

Permit, license or supporting letter for certain types of business (if any)

Approval or supporting letter from relevant agency if required by the Registrar of Business (if any)

Registration fee / branch (if any)

Business information printout fee

Believe the unbelievable. Dream the impossible.

Never take “No” for an answer

YBhg. Tan Sri Tony Fernandes,Founder of Tune Air Sdn Bhd


2. REGISTRATION OF PRIVATE LIMITED COMPANY

a. The first step is the lodgement of name search application to SSM for approval of using the chosen name in your new company. Payment of a RM30 fee for each name applies. Once approved, the company name will be reserved for you for a period of 3 months.

b. Incorporation documents below must be submitted to SSM within 3 month from the date of approval of the company’s name by SSM, failure of which a fresh application for a name search must be done

• MemorandumandArticleofAssociation(MAA)-originalcopyofeach be stamped at RM100. Stamps are affixed at the Inland Revenue Board’s stamp office.

• Form48A(StatutoryDeclarationbyadirectororpromoterbeforeappointment) that he/she is not a bankrupt and has not been convicted and imprisoned for any prescribed offences.

• Form6(DeclarationofCompliance)-statesthatalltherequirementsofthe Companies Act (CA) have been complied with and signed by the company secretary (named in MAA).

• OriginalcopyofForm13A.• AcopyoftheletterfromSSMapprovingthenameofthecompany.• Acopyoftheidentitycardofeachdirectorandcompanysecretary.

c. Minimum registration fees is RM1,000 for authorised share capital of up to RM400,000.

d. A Certificate of Incorporation will be issued by SSM upon compliance with the incorporation procedures and submission of the

duly completed Incorporation Documents.

Note : Please refer to online guides at https://www.ssm.com.my/en/company/incorporation-of-local-company

3. REGISTRATION OF LIMITED LIABILITY PARTNERSHIP (LLP)

LLP is an alternative business vehicle regulated under the LLP Act 2012 which combines the characteristics of a company and a conventional partnership. LLP offers advantages similar to a private limited company (Sdn Bhd) such as limited liability, perpetual legal existence but cheaper compliance costs due less statutory compliance – not compulsory to have audited accounts & appoint qualified Company Secretary.


Give It aNAMEGive It aNAME

Should you name your company with a name that represents the product or service that you’re offering?

Should you put your own name?Can it reflect the brand?

Should you come up with a catchy name to attract potential customers?

Is it legal to use the name?

A name is very important to a business entity, not only as it defines your product or service identity, but also serves as a magnet for customers to recognise and pull them to you. Your business name can be simple or lengthy and dramatic depending on your preference. However, note that if the name is defies the identity of your company, it is advisable to avoid names that carry negative connotation or illegal. There are two types of business name categorisation that you can choose from i.e. personal name or trade name:

Some tipsSome tips

1. Business name should not be too long that is not more than 50 characters including spaces between words.

2. Use of numbers, sign and symbols are not allowed as part of a business name.

3. Gazette words under Government Gazette No. 716 dated 30 January 1997, Gazette Amendments of 2001 and the names that administratively controlled under the Companies Act 1965 will also be considered as controlled for a business name. Government Gazette and Guidelines on Company Name can be viewed in the SSM’s website at www.ssm.com.my.

4. Business name registered must be in accordance with the type of business.

5. The business name registered cannot be altered or changed once the business is registered.

Check your new company name with SSM online system before registering your company!

Login to SSM Online System 1. Visit to www.ssm-einfo.my2. Click on the icon stating “Register as e-Account Member!”3. Fill in the “e-Registration Form“, then submit4. You will receive a message “Please login now”5. Login with your user name & password6. Once successful login, click on the icon “>> Search”7. Enter your desired company name in the box “By Name”8. DONE! Name search result from SSM will be displayed!

With the above company name search results from SSM registry system, you will now have a better idea on whether someone is using the same or similar name to the one you plan to have for your new company.


NEED TO KNOW

Direction of the Minister under Sections 22(1) and 341 Companies Act 1965Pursuant to section 22(1) and 341 Companies Act 1965, the Minister directs the Registrar of Companies not to accept for registration any name of a company or a foreign company that is a name or a name of kind mentioned in the Schedule unless prior approval of the Minister has been obtained.

Schedulea) Names suggesting connection with a member of the Royal Family or Royal patronage

including names containing such words as “Royal”, “King”, “Queen”, “Prince”, “Princess”, “Crown”, “Regent”, “Imperial”;

b) Names suggesting connection with a State or Federal government department, statutory body, authority or government agency or any municipality or other local authority including names containing such words as “Federal”, “State”, “National”;

c) Names suggesting connection with any Asean, Commonwealth or foreign government or with the United Nation or with any other international organisation or cartel including names containing such words as “ASEAN”, “UNESCO”, “NATO”, “EEC”, “OPEC”;

d) Names suggesting connection with any political party, society, trade union, co-operative society or building society;

e) Names including the following words or any words of like import: “Bank”, “Banker”, “Banking”, “Bumiputra”, “Bureau”, “Chamber of Commerce

and Industry”, “Chamber of Manufacturers”, “Chartered”, “College”, “Consumer”, “Council”, “Credit”, “Exchange”, “Executor”, “Fair Price”, “Finance”, “Foundation”, “Fund”, “Guarantee”, “Institute”, “Insurance”, “Investment”, “International”, “Leasing”, “Made in Malaysia”, “Prime”, “Registry”, “Treasury”, “Trust”, “Unit Trust”, “University”;

f) Names that are misleading as to the identity, nature, objects or purposes of a company or in any other manner;

g) Names that are blasphemous or likely to be offensive to members of the public;

h) Names which –(i) are translation of a name of a company or foreign company registered under the

Act; or(ii) may resemble or be mistaken for the name of any other company or foreign

company registered under the Act; or(iii) may resemble or be mistaken for a name that is being reserved for the purpose

of incorporation of a new company or registration of a foreign company or for the purpose of a change of name of a company or foreign company registered under the Act.

GOVERNMENT GAZETTE BILL DATED 30 JANUARY 1997


SRI MAJU ENTERPRISE

TEGUH JAYA RESOURCES

GIGIH MAJU TRADING

MENCUCI DAN MEMBERSIH BANGUNAN DAN KAWASAN, KONTRAKTOR BINAAN

Iyliaafahmi

IYLIAA FAHMI BIN ISHAK

870626-14-1234

019-856 7890

1 0 0 4 2 0 1 4

Sample of completed Form PNA 42


Sample of Completed Form A

A company shall have at least one Company Secretary appointed by Board of Director who;

Who isCompany Secretary?

Company can either appoint an in-house or external service of Company Secretary

Is a member of thefollowing bodies

i. Malaysian Institute of Chartered Secretary and Administrators

ii. Malaysian Institute of Accountants

iii. Malaysian Bar

iv. Malaysian Association of Company Secretary

v. Malaysian Institute of Certified Public Accountants

vi. Sabah Law Association

vii. Advocates Association of Sarawak

A person licensed by the

Commission under Section

20G of the Companies

Commission of Malaysia Act,

2001

OR


Who isCompliance Officer?The main responsibilities of a Compliance Officer are such as:

The Compliance Officer has to be either from amongst the partners of the LLP or a person qualified to act as a secretary under the Companies Act, 2016 who;

is a citizen orpermanent resident

of Malaysia

ordinarily resides in Malaysia&

Registering any changes in registered particulars of the LLP;

Keeping and maintaining registers and records of the LLP;

Ensuring publication of names of the LLP in accordance with the provisions of the Act; and

A Compliance Officer is personally liable to all penalties including administrative penalty imposed on the LLP unless if he can prove that he is not liable.



GOOD TO KNOW

Functions of Trademark1. Origin – A trademark helps to identify the source and those linked

for the products and services trade in the market.2. Choice – A trademark assists consumers to choose goods and

services with ease.3. Quality – Consumers define a certain trademark for its known quality.4. Marketing – Trademark plays a significant role in promotion. It’s common

for consumers to make purchases based on continuous effect of advertising.

5. Economic – Recognised trademark is a valuable asset. Trademarks may be licensed or franchised.

MalaysiaBiz PortalMalaysiaBiz Portal

Do you know that you can obtain information on your business registration & licensing as easy as 1- 2 - 3?

MalaysiaBiz Portal provides ‘single-access’ platform for entrepreneurs to obtain information on starting a business as well as to register their business and obtain licenses / permits from relevant authorities at a click of a button. Here’s how:

Go to:http://malaysiabiz.mampu.gov.my/

Select ‘Business Registration’ to know the type of entity you want to establish

your business as

Select ‘Business Licensing’ to know what are the licenses / permits required from relevant authorities based on your

nature of business and location

01

02

03

If my mind can conceive it and my heart can believe it, then I can ACHIEVE it

Muhamad Ali,Professional boxer and activist


Importance of Trademark Registration

Intellectual Proprietary privileges in relation to a trademark may be established through actual use in the marketplace and registration provides for:

every

years10

Duration of Trademark

Trademark registration is valid for 10 years from the date of application and may be renewed

every

years10

An entrepreneur may register his brand as a trademark through online application via www.myipo.gov.my website

Exclusive RightsRegistered trademarks owners have exclusive right to use their marks in trading. They also have the rights to take legal action for infringement under the Trade Mark Law against others who use their marks without consent. They can either take civil action or lodge complaints to Enforcement Division for appropriate actions under the Trade Description Act 1972.

Legal EvidenceRegistration certificate issued by Registrar

Office is a prima facie evidence of trade mark ownership. A certificate

of registration serves as an important document to establish the ownership of

goods exported to other countries.


Request for Approval for Expedited Examination

Form TM5A (RM250)Within 4 months from

application date (approval within 5 working days)

Preparation for Gazette1 month for MyIPO to

prepare Gazette Draft & submit to Government Printer for publication

Gazette2 months for public to

oppose

Search & Examination - Acceptance1 month and 2 weeks

Issuance of certificate

1 week

Re-search & Clearance2 weeks for clearance & re-search(to comply with 6 months PDC Paris Convention)

Request for expedited examination applicant to file form TM5B

(RM1200)Within 5 working days from the date of

receipt of the Registrar’s Decision

Request for advertisement Applicant to file form TM31

(RM650)Within 1 month from the dateof Notification of Acceptance

Applicant to file Form TM5(RM370)

Trademark Registration Process



How to fill-up this form?

INTELLECTUAL PROPERTY CORPORATION OF MALAYSIATRADE MARKS REGISTRYTRADE MARKS ACT 1976

TRADE MARKS REGULATIONS 1997APPLICATION FOR REGISTRATION OF A MARK

[Subregulation 18(1)]

Applicant’s* or Agent’s* file reference: ………………………………..………………………..……………………….* Delete whichever not applicable

1. Application is hereby made for the registration of a:

trade mark defensive trade mark certification trade mark Note: Please tick the box appropriate to the kind of mark which registration is desired. In the case of a trade mark, please attach a copy of the oath, sworn statement or statutory declaration evidencing that the applicant is the true owner. In the case of a certification trade mark, please attach a copy of the rules governing its use. In the case of a defensive trade mark, please attach a copy of the statement of case verified by a statutory declaration.

[Please enclose five (5) copies of the Form with the application]

2. Representation of mark:

Note: If the space provided is insufficient, the representation may be made on a separate sheet and firmly attached to this Form. Please ensure that the representation is clear and comply fully with regulation 34 and the size of the trade mark shall not exceed 10 x 10 cm.

If the mark is coloured and is to be limited according to the colour, please tick this box:

If the application is for a series of trade marks under section 24, please specify the number of series in this box:

Note: Any application made for a series of trade marks exceeding two trade marks is subject to an additional fee of RM50.00 per trademark.

3. Limitations, etc.: (Insert below any conditions, disclaimers or other limitations to which the registration will be subjected to. If the mark contains or consists of a word or words in non-Roman characters or in a language other than English language or the national language, please provide a certified transliteration and translation as appropriate.)

……………………………………………………………………………………………………………………………

……………………………………………………………………………………………………………………………

……………………………………………………………………………………………………………………………

……………………………………………………………………………………………………………………………

TM 5

{For registered agent only}

Sample how to �ll-up this form

{A mark includes words, logos, pictures, names,letters, numbers or a combination of these.}

SEJATI

{For new application} {For wellknown mark} {example: halal, sirim, iso..}

{colour limitation}

{Translation for non - Roman characters (example: Chinese / Japanese / Arabic}


4. Class:

5. List of goods or services: (Goods or services falling within more than one international class are subject to separate applications. Please use a separate sheet if necessary.)

……………………………

6. Full name and address of applicant:

Name : .………………………………………………………………….………………….……………………..

Address : ….………………………………………………………………….…………………………………..…

…………………………………………………………………..…………….………………………….

……………………………………………………………………………………………………………

… .…………………………………………………………………………….………………………….

NRIC No./Company Registration No./Passport No.: ………………………………………………………..……(as a personal reference number)

If the applicant is a partnership, please state the full names of all the partners.If the applicant resides abroad, please provide an address for service in Malaysia (Column 7).

7. Full name and address of agent (if any):

Name : .………………………………………………………………….………………….……………………..

Address : ….………………………………………………………………….…………………………………..…

…………………………………………………………………..…………….………………………….

……………………………………………………………………………………………………………

… .…………………………………………………………………………….………………………….

Note: If this is the address for service, please file Form TM 1 together with this Form.

8. Agent’s Registration No. (if known): …………………………………………....................................................

9. Agent’s own reference: ………………………………………………………………………………………………..

.Number of class

{Example: Cream Crackers, Mini Crackers, Sandwich Biscuits, Wafer, Oat Krunch and Cookies.

{ Company Name / Personal Name}

{ Company Address / Personal Address}

{ For SDN. BHD. company, please state the fullname of all partners}

{ For registered agent only}



30



10. International Convention priority claim: If priority date is claimed under International Convention or a bilateral arrangement,please give details below and attach the relevant documents.

Convention country in which the trade mark was first filed: ………................................................................

Date: ............................................................... No. (if any): ...........................................................................

11. Date of first use of the mark in Malaysia (if any): .......................................................................

12. Declaration: I/We claim to be the bona fide proprietor of the mark whose registration is applied for and,where the mark has not been used in Malaysia, that the application is made in good faith and that I am/weare entitled to be registered as the proprietor of the mark.

An agent signing this Form on behalf of the applicant shall satisfy himself as to the truth of the declaration.

Signature: ………………………………………………………..

Name of signatory (in block letter): ………………………………………………………………………..

Telephone No.: …………………………………….. E-mail: ……………………………………………

Date: ……………………………………….

Note: If the applicant is a partnership, please state the full names of all the partners.

{ For foreign application}

{ The �rst year used this mark}2003

{ Name of applicant }

{ applicant }{ applicant }

{ applicant }



IN THE MATTER of the Trade Marks Act, 1976 andthe Trade Marks Regulations, 1997

and

IN THE MATTER of application for the Registration ofa Mark in Malaysia.

STATUTORY DECLARATION

I, _________________________________(a), [NRIC No.______________ (b)] of full age and care of

__________________________________________________________________________________(c),

Malaysia, do solemnly and sincerely declare that:

1) I am ______________________________________________________(d)(Company Registration No. )

___________________________________________________________________________________(e), Malaysia (hereinafter referred to as the "Applicant") and I am duly authorized to make this Statutory Declaration on behalf of the Applicant. The facts deposed herein are true to the best of my knowledge, information and belief.

of

2) The Applicant is the bona fide proprietor of the mark; a representation of which appears below and the Applicant is entitled to be registered as the proprietor of the same in Class(s)____________________.

3) The Applicant hereby appoints _________________ of_______________ of_______________ to be the Trade Mark Agents for the filing, prosecution and registration of the above mark and all other matters related thereto.

AND I make this solemn declaration conscientiously believing the same to be true and by virtue of the Statutory Declarations Act 1960.

Subscribed and solemnly declared by the)

abovenamed, ________________________ )

this day of ___________________ )

At ) Before me,

Commissioner for Oaths

• a. insert name of declarant • b. I.C or passport number• c. insert address of declarant• d. insert designation of declarant• e. insert name of company

(representation of trademark)

{ for registered agent only }

{ title - owner/director/secretary }

{ Big Bunny Enterprise }

{ applicant } { applicant }

{ applicant address }

SEJATI

{M-12345}

{ applicant signature }



Employer’s Number

• IncomeTaxFileNumber• FormB(OGNumber)forSoleProprietor

and Partners• FormP(PNumber)forPartnership• FormC(CNumber)forCompany• FormPTforLLP

Potongan Cukai Berjadual (PCB)

Employees Provident Fund (EPF)

Social Security Organisation (SOCSO)

Good and Service Tax (GST) if business income reach more than 500K per year

MOF Certification

Bumiputera Status

Trading & Signboard Licence

Manufacturing

Industrial License for factory, workshop or warehouse

Food & Beverages for food stall, restaurant, canteen or grocery shop

Entertainment for karaoke, pub, amusement park, cinema or music and stage event

Halal Certification

Health Product or Pharmaceutical Certification

Lembaga Hasil Dalam Negeri (LHDN)



Kumpulan Wang Simpanan Pekerja (KWSP)

Petubuhan Keselamatan Sosial (PERKESO)

Royal Malaysian Customs Department

Ministry of Finance

Ministry of Finance

Local Authorities such as DBKL, MBPJ, MBSA, MPSJ

Ministry of International Trade and Industry (MITI)




Jabatan Kemajuan Islam Malaysia (JAKIM)

Kementerian Kesihatan Malaysia(KKM)

DESCRIPTION AGENCIES

Other general registration, licenses and permits requirement to start a business


• Nowacompanycanbeincorporatedandoperatedwithasingleindividualor corporate shareholder and only one resident director is required (who can also be the sole shareholder of the company).

• Companieswillnolongerberequiredtostateitsauthorisedsharecapital

• Nomoremultipleforms-promoter/directorcanincorporateacompany

• Appointmentofcompanysecretaryatpointofincorporationisoptional.Secretary must be appointed within 30 days after incorporation

• MemorandumofAssociation(MoA)&ArticlesofAssociation(AoA)atpointofincorporation is optional

• Acommonsealisoptional.Ifacompanydecidestohaveacommonseal,theprovisions of the law must be observed.

• LowercostsinrunningacompanyasAnnualGeneralMeeting(AGM)forprivate companies can be dispensed and simplified by passing written resolutions, which are cost-effective measures, while notices for the meeting can be sent electronically.

• Acompanymaychoosenottospecifyitsobjects-unlimitedcapacitytocarryout any lawful commercial activities

• Allsharesissuedshallhavenoparornominalvalue-simplifiesacompany’saccounts and financial statements as well as more flexibility in pricing its shares and raising capital

The Companies Act 2016 that came into force on 31 January 2017 has made is easier, simpler and cheaper for entrepreneurs to incorporate a company.

DO YOU KNOW?

LEGALISING YOUR BUSINESS - SME Corporation … YOUR BUSINESS ... to transform your business into...

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