Company type of business
A company incorporated under the Companies Act 2016 (Act 777) may be made by individuals who intend to form a company.
Company Salient Features
Company features are:
- Company shall have a name,
- One (1) or more members,
- In the case of a limited company with shares, one (1) or more shares; and
- One (1) or more directors.
Requirements for Company Incorporation
A company incorporated under the Companies Act 2016 (Act 777) may be made by individuals who intend to form a company. The basic requirements are:
- Private company - at least one (1) director who ordinarily resides in Malaysia by having a principal place of residence in Malaysia and one (1) promoter; or
- Public company - at least (2) two directors who ordinarily reside in Malaysia by having a principal place of residence in Malaysia and minimum one (1) promoter.
Company Name Regulations
A person must apply from the Registrar of Companies to verify the availability of the proposed name. The proposed name is also subject to:
The name applied must be made through online at https://mycoid2016.ssm.com.my
Company Incorporation Procedures
1. Requirements for approval of a company name from SSM.
2. The company's incorporation application is made through online using either one (1) of the two (2) incorporation methods:
Direct incorporation – a combination of name reservation and incorporation process (subject to terms and conditions prescribed); or
Name reservation - submitting the incorporation application within 30 days or such longer period as the Registrar may allow (maximum of 180 days) after the name is approved.
The information that needs to be completed for incorporation are as follows:
- The proposed company name;
- The company status either private or public;
- The type of business proposed;
- The registered office address;
- The business address;
- Complete details of directors(s) and promoter(s);
- Declaration from directors(s) and promoter(s);
- Declaration of compliance from individuals responsible for incorporation; and
- Additional Documents (if any).
3. Incorporation fee
- Company limited by shares of RM1,000.00; or
- Company limited by guarantee of RM3,000.00.
Note:
- Only a registration notice will be issued.
- A certificate of incorporation will only be issued upon application made with the prescribed fee.
- Company secretary must be appointed within 30 days after the incorporation of the company.
- Company's constitution is a non-mandatory option for company limited by share.