How To Open Sdn Bhd Company in Malaysia?
What Is A Sdn Bhd Company?
In Malaysia, to open Sdn Bhd company in Malaysia is similar to registering any other business entity. However, there may be some differences in the registration requirements. This article will teach you. So, without further ado, let’s get into the meat of this article. “Sdn Bhd” is an abbreviation for Sendirian Berhad, a Malaysian term for a Private Limited company. This type of company is very popular among Malaysian business people. Under the Companies Act 2016, a Sdn Bhd Company cannot be registered unless appointed by one director and one shareholder. As a result, you can easily register a Sdn Bhd company in Malaysia without the assistance of a business partner.
Sdn Bhd Company Highlights
- When you open business in Malaysia, remember Sdn Bhd is limited by shares. As a result, if a Sdn Bhd company declares a total loss, the shareholders and company secretary are not liable for the company shares.
- Sdn Bhd Company has the right to carry out its perpetual succession until the company is dissolved by its shareholders, directors, or company secretary.
- All of these perties have the right to sue any other person or company. Similarly, any other person or company may sue a Sdn Bhd company.
- Sdn Bhd Company is independent in signing agreements with other businesses and conduct legitimate business operations.
How to Form a Malaysian Sdn Bhd Company
Here is a step-by-step guideline to open Sdn Bhd company in Malaysia.
Step 1: Visit the online portal of MyCoID and register an account.
Step 2: After you activate your account, you’ll receive an email with important information for validating your account at the nearest SSM counter.
Step 3: After SSM validates your account, go to the MyCoID portal and begin registering your Sdn Bhd company.
Step 4: Proceed to the Direct Incorporation Application to complete the Name Search procedure. To begin this procedure, you must provide the three proposed company names.
Step 5: A Super Form will then appear on your computer screen. You can use this form to clarify the significance of the suggested company name.
If the proposed name contains controlled words, state names, or trademarks, you must complete this form. In this case, you must also submit an authorisation letter from the relevant authority or owner.
Step 6: Now, you must select a business code. This is a code that contains both your company’s business address and its registered address.
Step 7: The system will list you as a shareholder or director of the company up to this point. If you prefer, you can enter these details manually in the next step.
Step 8: Apply after thoroughly reviewing the information you have provided. You will be directed to the ‘Transaction page’ from here.
Step 9: To complete the registration process, you must pay a fee of RM1,000. Remember to keep the transaction receipt.
Step 10: Once completed, the ‘Notice of Registration’ will be emailed to you. It would serve as registration proof. In addition, you can obtain a Company Certificate by paying the required fee at the SSM counter.
In order to register a Sdn Bhd company in Malaysia, you must appoint a company secretary. A company secretary is in charge of a variety of important tasks. Please keep in mind that you must appoint a company secretary within 30 days after registering a company with SSM. Although it is not required to file a constitution for your Sdn Bhd company, you can do so via the MyCoID portal.
We hope this article gave you enough insights on how to open business in Malaysia. CKP also offers company secretarial services. Should you need assistance, please contact us.