How to register a business?
The initial step to start a business is to register your business name and company with the Companies Commission of Malaysia.
A) Guideline for business name application
Business names play the vital roles to identify the business being carried out and normally categorized into trade name and own name.
1. Trade name- Name other than owner’s name as per identity card. Can only be used upon approval from the Registrar of Business of the Companies Commission of Malaysia.
Application procedures:
- Obtain form (PNA.42) for business name application from the Business Division of the Companies Commission of Malaysia.
- Complete the form and present it with the following details:
- The proposed business name.
- Name and identity card number of business owner.
- Nature of the business to be carried out.
- Signature of the owner and date of application.
- Submit to the Business Division of Companies Commission of Malaysia via service counter or by post.
Note:
- The form (PNA.42) for business name application is free of charge.
- Business names that have been registered cannot be amended or changed.
- The approved business name is valid for 30days and new application is required upon expiry date.
- Names that cannot be registered unless approved by the ministry:
- Contain a word that has a connection with the king, queen or ruler of a country of members of the royal family or monarchy, including the word “King” or words with a similar pronunciation.
- Contain a word that has a connection with any Government, State Government Department, statutory body, authority or agency or any municipality/town council or other local authority including names that contain words such as “Federal”, “State” or “National”
- Contain a word that has a connection with any Asean, Commonwealth or other foreign countries or the United Nations or any international organization.
- Contain the word “Chartered” or any word that suggests a connection with any society or body incorporated by “Royal Charter”.
- Contain the words “Society”, “Association”, “Foundation”, “Trust”, “Armed Forces”, “Co-operative”, “International” or any equivalent expression.
- Contain a word that is insulting or likely to be offensive to members of the public.
- Contain a word that is misleading as to the type, scope or importance of the business carried on or to be carried on under such name.
- Contain a word that is offensive to any race or religion.
2. Own name –Owner’s name as per identity card can apply directly to Registrar of Businesses of Companies Commission of Malaysia without prior approval of business name)
Note: Applications submitted at service counter will be processed and decided within 60 minutes.
B) Guideline for business registration
Registration procedures
- Obtain prior approval from the Companies Commission for the proposed business name.
- Complete Form A (Registration of Business) together with the details as follow:
- Business Name
- Details of the applicant
- Nature of business
- Branch(es) of the business
- Date of commencement of business
- Address of the place of business
- Partnership agreement (if any)
c. Completed Form A must attached with the following documents before submitting.
- Approval letter of business name
- Photocopy of identity card
- Photocopy of Partnership Agreement (if any)
- Permit
- License
- Approval or supporting letter from other agency (if any)
d. Submit to the nearest SSM office or send by post (within 30 days from the date of commencement of the business).
Note:
- The completed form A must be sign by the business owner in the presence of the authorized officer stated in the form.
- Registration of business only available for citizens and permanent residents of Malaysia aged 18 and above.
- The nature of the registered business should not contravene any laws.
- For business registration that requires special consent or approval, a copy of specific approval e.g permit, license, letter of authority or support is required.
Cost for registration
- Sole proprietorship using own name as per identity card (RM 30.00)*
- Sole proprietorship and partnership using a trade name (RM 60.00)*
- Registration of branch(s) (RM 5.00/branch)*
- Business information print-out. (RM 10.00)*
(* For reference only, please refer to SSM for the exact cost.)
· Any person who violate the business act and carries on the business without registration or commits an offence and shall on conviction be liable to a fine not exceeding RM50,000 or to imprisonment for a term not exceeding 2 years or both.
The summary of requirements and procedures for registration of business are as following:
Standardized company (Private Limited Company / Sendirian Berhad (Sdn. Bhd.)) Registration Requirements Details and Procedures
|
|
Procedure |
Duration required |
Cost (For reference only) |
|
1 |
Application to the Companies Commission of Malaysia (CCM) on the prescribed form (13A) to ensure the availability of the proposed company's name. |
1 day |
MYR 30 per name search application |
|
2 |
Stamp the company documents Promoters must stamp the memorandum and articles of association at the Inland Revenue Board's Stamp Office. An original copy is required for registering with the Companies Commission of Malaysia. |
1 day |
MYR 220 Stamp cost for memorandum and articles cost RM 100 each with a 2nd set stamped at RM10 each. |
|
3 |
File necessary documents with the Companies Commission of Malaysia within three months after name reservation\ Promoters must pay the registration fee and file the following incorporation documents with the Companies Commission within 3 months of name reservation: - The memorandum and articles of association and the statutory declaration of compliance (Form 48A) (prepared by a lawyer or the company secretary). - The particulars of (a) two subscribers holding a minimum of one share of MYR 1 each and (b) At least two directors who have their principal or sole place of residence in Malaysia. - The original Form 13A and a copy of the letter from the CCM approving the name of the company have to be attached as well. - The address or location of the registered office. - Form 6 (statutory declaration of compliance) upholding compliance with the requirements of the Companies Act 1965 and the Companies Regulations on matters precedent and incidental to the company’s registration. This form must be filed by the company secretary. |
2 days
|
MYR 2,550 (registration fee) The registration fee for the authorized share capital is charged the following scale and is payable to the Companies Commission: a) MYR 1,000 for capital up to MYR 100,000; b) MYR 3000 for capital MYR 100,001-500,000; c) MYR 5,000 for capital MYR 500,001-1 million; d) MYR 8,000 for capital RM1,000,001-5 million; e) MYR 10,000 for MYR 5,000,001-10 million; f) MYR 20,000 for MYR10,000,001-25 million; g) MYR 40,000 for MYR 25,000,001-50 million; h) MYR 50,000 for MYR 50,000,001-100 million; i) MYR 70,000 for capital over MYR 100 million |
|
4 |
Make a company seal |
1 day |
MYR 150 Alternatively, the seal can be ready in 3 days for RM100. |
|
5 |
Purchase statutory books and share certificates books The statutory and share certificate books can be purchased from certain specialized stationery shops. |
2 days |
MYR 200 |
|
6 |
Register with the Income Tax Department Registration of the company with the Inland Revenue Board (IRB) as a tax payer can be done online at this link: http://ekl.hasil.gov.my/. Form 9 (Certificate of Incorporation) and Form 49 (Return Giving Particulars in Register of Directors, Managers and Secretaries and Changes of Particulars) can be uploaded at the same address. If the registration is done online, the tax reference number will be given in 4 working days. If the registration is done at the IRB counter, the tax reference number will be given immediately upon registration. Any chargeable income above MYR500,000 is subject to the normal corporate rate. The corporate rate is 26% for 2008 and proposed to be reduced to 25% in following years. |
1 day (trivial) |
no charge |
|
7 |
Register for Employment Provident Fund (EPF) Promoters must register with any branch of the Employment Provident Fund by completing the applicable form and submitting the relevant documents. Although registration with the EPF cannot be done online, the registration form (Form KWSP 1) can be downloaded online at this link: http://www.kwsp.gov.my/index.php?hdl=bin&rp=321. If the information submitted for registration is complete and there is no problem with the EPF system, the registration number will be given immediately upon registration. |
1 day |
no charge |
|
8 |
Register with Social Security Organization The employer must compulsorily register any employee whose monthly wages is less than RM 3,000 with and contribute to the Social Security Organization (SOCSO) regardless of whether such employees’ employment status is permanent, temporary, or casual. The promoter must complete the form and submit the relevant documents. Registration with the SOCSO cannot be done online, Form 1 (Employers' Registration Form) can be downloaded at http://www.perkeso.gov.my/1a.pdf and Form 2 (Employees' Registration Form) can be downloaded at http://www.perkeso.gov.my/1c.pdf. and then the registration number will be given immediately upon registration at the counter. |
1 day |
no charge |
|
9 |
Notify the Director General of the Inland Revenue Board of the employment of workers The employer will need to provide the Inland Revenue Board with the list of taxable employees when the employer registers with the IRB as an employer and to update the list where necessary. |
1 day |
no charge |
Please click here for further details regarding to the products and services that offered by SSM.
(Sources from Companies Commission of Malaysia website /http://www.doingbusiness.org/exploretopics/startingbusiness/details.aspx?economyid=119; last updated by June 2012)
Tingkat 6-7, Bangunan KWSP,
No. 3009, Off Leboh Tenggiri 2,
Bandar Seberang Jaya,
13700 Pulau Pinang.
Tel: 04-397 7793
Fax: 04-397 7713
| File | File size |
|---|---|
 List of Company Secretaries_Taxation in Penang_31JAN2012.pdf | 49 Kb |
