If you want to incorporate companies that are limited by shares, you may incorporate them as a private company or a public company. In Malay, the former is Sendirian Berhad (Sdn. Bhd.) while the latter is Berhad (Bhd.). You may make the company incorporation if you have the intention of forming a company. If you need help in the process, you may engage a corporate secretarial firm in Johor Bahru and get assistance from the professionals.
If you want to incorporate a private company, the basic requirement is to have at least one director and one promoter. If you’re going to incorporate a public company (Also see Indicators of a Company’s Decline in Going Concern), the basic requirement is to have at least two directors and one promoter. In both cases, the director needs to be someone who usually lives in Malaysia by having a principal place of residence in the country.
The first step of company incorporation is to conduct a name search and apply for the name. The name search is necessary for making sure that the company name that you propose is available. You can apply for the company name by using two different ways. The first way is through direct incorporation, which includes name reservation as well as the process of incorporation, while the second way is through a name reservation.
If you are using the first way, you need to complete the information when you apply for the company name and incorporate the company by submitting the application online. Also, you need to remit payment of RM1000.00. If you have got the SSM’s approval on the proposed company name, the company incorporation application will be sent to of officer directly to be processed.
If you prefer using the second way, you need to complete the information for your company name via online, and you need to pay RM50.00 for every application you made. The process of company incorporation is not included in this. If you have got the SSM’s approval on the proposed company name, the reservation lasts for 30 days or a longer period as permitted by the Registrar from the day you got the approval. This period for this reservation is at most 180 days. After that, you may apply for company incorporation with an RM1000.00 payment.
When you are applying for the company incorporation, you need to complete the information like the proposed company name, the status of your company, whether it is private or public, the type of business you proposed, the business address as well as the address of your registered office, complete information of your company’s directors and promoters, as well as their declarations stating that they are not undischarged bankrupts, and have not been convicted of any offence whether in Malaysia or outside Malaysia.
Besides, if you are the one who is responsible for the company incorporation, you need to submit a declaration of compliance, which states that you have followed all the requirements stated in the Companies Act 2016. Also, you may need to submit some additional documents. As an instance, you need to submit a copy of a corporate body’s consent letter if there is one which is named as the company’s member. Also, you may need to submit a copy of the certificate of the qualification of the company’s director as well as a consent letter from related agencies if there is any.
If you have followed all the required procedures and all the information you provided is complete, and the Registrar is satisfied with it, then the Registrar will issue a notice of registration and approval. You will only receive a certificate of incorporation from SSM when you apply for it with the required payment.
After the incorporation, the company needs to assign a corporate secretary in 30 days. The secretary needs to be registered with SSM and SSM will issue a valid practising certificate to him. Apart from that, the company may file the company constitution if necessary. It should also get the approvals, permits or licenses it requires from the related authorities before it starts running the business.