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Requirements to Form a Malaysian Company

Update Date:2016-4-4 9:03:13 Source:Tannet (Malaysia) Sdn Bhd Views:651

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Suruhanjaya Syarikat Malaysia (Companies Commission Malaysia)

-The Companies Commission of Malaysia (SSM) established on 16 April 2002, serves as an agency to incorporate companies and register businesses in Malaysia.

-A limited company in Malaysia can be incorporated with a minimum authorized capital and paid-up capital of RM400,000 and RM2 respectively.

 

Director requirements

-Every company must have at least 2 directors who are at least 18 years of age and are residing in Malaysia.

-He/she is not a bankrupt and has not been convicted and imprisoned for a period of past 5 years.

 

Company Secretary requirements

-A company must have at least one Company Secretary

-Company secretary must be a member of any one of the prescribed professional bodies or licensed by the SSM.

 

Registered office requirements

-Every company must have a registered office in Malaysia to which all communications and notices may be addressed.

-It is normal practice in Malaysia to have the secretarial office as registered office of the company.

 

Accounts and Audit

-Every company is required to prepare its accounts and to be audited by approved auditors in Malaysia every year.

-A company must appoint one or more auditors who must be approved auditors in Malaysia.

-The audited accounts must be tabled at the AGM for adoption/approval by the shareholders of the company.

-This audited accounts is required to be lodged with SSM, together with the Annual Returns.

 

Annual General Meeting (AGM)

-A company is required to hold its Annual General Meeting (AGM) within 6 months from the accounting year end, and for newly registered company, within 18 months from the date of incorporation.

-One of the agenda of AGM is to have the audited accounts adopted or approved by the shareholders of the Company.

 

Annual Returns

-Every company needs to lodge the Annual Return within 1 month of the AGM

-Annual Return shall include audited accounts and auditor’s report.

-Annual return is a snapshot of general information about a company’s directors, secretary, registered office, shareholders, share capital, principal business activities, etc.

 

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