Malaysia Company Set Up @ Asia Business Set Up


Malaysia Company Set Up
Malaysia company set up is challenging for foreign investors compared to jurisdictions such as Singapore and Hong Kong. Important points to note about Malaysia company start up include:
1.	Malaysia company set up applications are lodged through the Companies Commission of Malaysia (CCM). Official Malaysia company registrationg fees range between US$300 and US$21,000, depending on the company's authorised and issued share capital. Malaysia company incorporation takes approximately three weeks.
2.	Most entrepreneurs use a corporate services Firm to handle all Malaysia company start up formalities. This Firm will legally incorporate your company and act as a Malaysia-resident director, company secretary and registered office, assist your Firm fulfill your statutory legal obligations in Malaysia and apply for employment visas for foreign staff.
3.	Malaysia company set up procedures typically evolve with i) company name check with the CCM ii) application for foreign investment approval at the Foreign Investment Committee of the Malaysia Economic Planning Unit iii) submission of shareholders and directors’ due diligence and corporate documents to the CCM, including signed copy of the company's Memorandum and Articles of Association, a Statement of Compliance on Incorporation and an application for a Certificate of Registration.
4.	Most Malaysian businesses require a license, obtained through either the Malaysian Industrial Development Authority (MIDA) for a manufacturing license or the Multimedia Super Corridor (MSC) for a hi-tech sector license, for example information and communications technology (ICT) investments. Malaysia’s complex licensing requirements are a key factor in its low World Bank ranking of 137th in terms of time taken and procedures related to obtaining business licenses.
5.	Following Malaysia company set up, company details are available for public viewing at the CCM, including shareholders and directors' names and addresses.
6.	A Malaysian private limited company is required to prepare annual financial statements complying with Malaysian Financial Accounting Standards. The financial statements accompany an annual corporate tax return submitted to the Inland Revenue Board of Malaysia by 31 December each year. The Malaysian Companies Act 1965 requires a company to appoint an external auditor. Completing an annual audit in Malaysia is time consuming and administratively difficult because of the lack of adequately qualified auditing staff and the inability of auditors to identify material and immaterial risk.
More information
For more detailed information on how establishing a company in Malaysia please refer to Healy Consultants' Asia Business Setup guide.
Contact Us
For more information on how establishing a company in Malaysia, email email@healyconsultants.com or call us in Singapore at (+65) 6735 0120.
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