In Malaysia, a business may be registered with the Companies Commission of Malaysia (known as Syarikat Suruhanjaya Malaysia or SSM) using either a personal name or a trade name, depending on the discretion of the individual registering the firm. If the individual is registering a business under their own name, they do not need to apply for a business name.
1. Individuals must complete Business Registration Form A, which includes the business name, start date, primary location of business, address of the business branch, if any, information about the owners and partners, the sort of business carried out, and a copy of the Partnership Agreement, if applicable.
2. If there are many business owners engaged, each owner and partner must sign the completed form.
3. The application form must be submitted in person or via the SSM’s website’s online SSM e-Lodgement services.
4. A photocopy of the individual’s identity card, permits, licenses, or supporting letters for the kind of business, and approval of the supporting letter from the relevant agency, if necessary by the Registrar of Business, must be supplied with the forms.
Individuals must satisfy the following conditions in order to successfully register a business in Malaysia:
|➤ To register with the SSM, an individual must be a Malaysian citizen or permanent resident of Malaysia.|
|➤ The individual must be at least 18 years old|
|➤ The registration of the business must be completed within 30 days of the business's start date|
Starting a business in Malaysia requires a valid business license. Licenses, registrations, permissions, and approvals are all part of it. A business license from the Pihak Berkuasa Melesen (PBM) applicable to the area and business activity can be obtained. Before a firm can legally begin operations, it must first get a license, which might be a general license, an industry/sector specific license, or an activity specific license. Business licenses are needed by law and are managed by a variety of government organizations, statutory bodies, and municipal governments. Registrations, approvals, licenses, and permits are all examples of business licensing. Compliance standards differ depending on the sector, company activity, and region. Business licenses are divided into three logical categories, namely:
|➤ General Licenses contain all relevant licenses and will be required if the investor decides to start a business in Malaysia.|
|➤ Industrial / Sector Special License is a government-issued license for a certain industry or sector. This comprises regulations regulating the growth of a given industry or sector in accordance with government policy development.|
|➤ Licenses that control specific activities and may be applicable to one or more Industries or Sectors are known as activity-specific licenses. This type of license compels investors to follow a set of precise criteria aimed to protect citizens' interests, employment, worker safety, the environment, and the general public.|
The Certificate of Registration establishes the existence of the business. SSM issues a copy of the Certificate of Incorporation, which certifies that a company is duly established under Malaysia’s Companies Act.
SSM shall issue the Certificate of Incorporation following completion of the incorporation procedures and submission of the full Incorporation Documents. The Certificate of Incorporation is written in the native language (Malay), and a verified registry copy is available.
1. The Companies Act 2016 is Malaysian legislation that governs every company registered in the nation. To lawfully operate your firm, you must follow all of the rules outlined in the Companies Act 2016.
SSM is the government agency in charge of supervising corporate and commercial matters in Malaysia. It was established in 2002 in accordance with the Companies Commission Act of Malaysia Act 2001. SSM performs all of the responsibilities of both a business registry and a company registry.
2. SSM is responsible for a variety of tasks, but its primary function is to operate as an agency that incorporates corporations and registered enterprises. SSM also allows wide public access to business and company information. SSM is Malaysia’s top expert on improving corporate governance.