Company Formation in Malaysia – SK Patodia

ADVANTAGES OF COMPANY FORMATION IN MALAYSIA

In 2007, Malaysia was the 4th largest economy in South East Asia and 36th largest economy in the world. Manufacturing has a large influence in the country’s economy. Malaysia is the world’s largest Islamic banking and financial centre and one of the world’s largest exporters of semiconductor components and devices, electrical goods, solar panels, and information and communication technology (ICT) products. Following are the advantages of company formation in Malaysia.

  • It has a stable economy, which means lesser risk for overseas entrepreneurs and investors in Malaysia

  • It has a highly educated workforce

  • The Malaysian government is quite pro-active in its approach towards converting Malaysia to a highly developed economy. They are constantly looking for ways to make the country more attractive for foreign businesses and at the same time trying to convert local businesses into excellent companies. It has a healthy mixture of foreign-owned companies and competitive local companies

  • Constantly strive to improve infrastructure with an abundance of natural resources together with an excellent transportation system

  • Low-cost business environment, high skill levels and the lifestyle, climate, educational opportunities and availability of a pool of multilingual professionals competent in English and the major Asian languages

  • Malaysia has also introduced special taxation and financial incentives to encourage foreign investment and in particular investments into research and development and promoted activities related to industrial technology.

REQUIREMENT TO OPEN A COMPANY

BASIC REQUIREMENTS

  • Minimum 1 Shareholder and 1 director are required. At least 1 Director should reside in Malaysia.
  • The company can be incorporated with a nominal paid up capital of MYR 1. However, in certain cases banks may require an initial deposit of USD 10,000.
  • Registered Office Address
  • A Company Secretary (if the person is an individual then he/she must reside in Malaysia and if the person is a body corporate then it must have its registered office or place of business in Malaysia)

DOCUMENTS REQUIRED

Individual Shareholder:

  • Application forms duly signed by the authorized signatory.
  • Passport Copy of the UBOs/ Shareholders/ Directors
  • Copy of National Identity Card/Aadhar Card of the UBOs/ Shareholders/ Directors.
  • Most Recent Utility Bill/ credit card statement/ bank statement with name and residential address of the UBOs/ Shareholders/ Directors.
  • Curriculum Vitae (CV) /Profile of the UBOs/ Shareholders/ Directors

Corporate Shareholder:

  • Applications forms duly signed by the authorized signatory.
  • Certificate of Incorporation of the corporate shareholder (mother company).
  • Memorandum & Articles of Association of the mother company.
  • Board Resolution detailing the formation of the branch or the subsidiary nominating an authorized manager.
  • Passport Copy of the UBOs/ Shareholders/ Directors.
  • Copy of National Identity Card/Aadhar Card of the UBOs/ Shareholders/ Directors.
  • Most Recent Utility Bill/ credit card statement/ bank statement with name and residential address of the UBOs/ Shareholders/ Directors.
  • Curriculum Vitae (CV) /Profile of the UBOs/ Shareholders/ Directors.

OUR SERVICES

Incorporation services:

  • Name search and name reservation.
  • Preparing relevant resolutions, incorporation documents and company setup.
  • Tax Number and Employer Number Registration.
  • Assistance in opening a bank account.

Compliance Services:

  • Provision of Company secretary.
  • Maintenance of files and registers.
  • Providing a registered office address.
  • Book keeping, Filing tax and annual returns.

TIME PERIOD

It takes approximately 15 days to set up a company in Malaysia.
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