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Keeper can guide your way through the process and have your company registration ready in no time.
REGISTERING COMPANIES IN MALAYSIA
You can be an entrepreneur, but only registered businesses can become business entities. Get registered as one of the three entities through SSM.
PLT (LLP)
Sdn Bhd
| Content | PLT | Sdn Bhd |
|---|---|---|
| Number of Partners/ Directors | Minimum of 2 partners and no maximum. | Minimum 1 director. |
| Secretarial Requirements | According to S27(1) of LLP Act 2012, shall appoint at least 1 compliance officer. | Yes. Based on S.235(1) of Companies Act 2016, a company shall have at least 1 secretary. |
| Administration Works | A partner is required to keep all the documents of partner registrations, LLP documents, meeting minutes etc. in black and white. | Company secretary would assist in the preparation of resolutions, attend meetings if required, and maintain all secretarial records of the registered office. |
| SSM Lodgement for Financial Record | Need to lodge annual declaration for:- 1st incorporation : within 18 months Existing : 90 days | Audited Financial Statement (AFS) or Unaudited Financial Statement (UFS). To be circulated within 6 months after the Financial Year End (FYE) and to be lodged 30 days after circulation date. For example:- FYE : 31.12.2023 Circulation Date : 20.06.2024 Lodgment Date : 31.07.2024 |
| Annual Maintenance | Lower annual maintenance costs as company secretarial services or audits are not required. | Could be costly due to maintain a compliance to CA2016 which includes secretary, audit and tax. |
| Sources of Capital | Capital contribution by each partner. | Allotment / Issuance of share capital. |
| Liability Risk Prevention | A PLT liability is limited to do its partners contribution. | A Sdn Bhd has a limited liability cap to the share capital. |
| Income Tax Rates | First RM 150,000 = 15% RM 15,001 to RM 599,999 = 17% RM 600,000 and above = 24% *For foreign shareholder, the income tax rates are all 24%. For capital contribution less than RM 2.5 mil. | First RM 150,000 = 15% RM 15,001 to RM 599,999 = 17% RM 600,000 and above = 24% *For foreign shareholder, the income tax rates are all 24%. For capital contribution less than RM 2.5 mil and gross business income < RM 50 mil. |
| Partners/ Directors Remunerations | Must have a partner agreement between partners on their salary drawings to be tax deductible. | Can declare director's remuneration similar to employees or director fees which are not subject to EPF, SOCSO and EIS. |
| Suitability of Formations | Suitable for stable businesses where no plans for M&A, major ownership transfer, no plans for IPOs or fundraising from banks. | Sdn Bhds are more credible due to periodic audits requirement. Fundraising is easier either from banks or from the public via Initial Public Offering (IPOs). Shares can be easily transferred from owner to owner. |
| Returns | Share of Profit | Dividends |
The Go-to Business Incorporation Service Provider
Proact Advisory & Solutions is a leading firm in Malaysia, specializing in business incorporation services. We are committed to guiding businesses through every step of the incorporation process, ensuring a smooth and efficient experience. Our company incorporation service is tailored to meet the unique needs of startups and established companies alike.
Company Incorporation Services Malaysia
| Content | PLT | Sdn Bhd |
|---|---|---|
| Number of Partners/ Directors | Minimum of 2 partners and no maximum. | Minimum 1 director. |
| Secretarial Requirements | According to S27(1) of LLP Act 2012, shall appoint at least 1 compliance officer. | Yes. Based on S.235(1) of Companies Act 2016, a company shall have at least 1 secretary. |
| Administration Works | A partner is required to keep all the documents of partner registrations, LLP documents, meeting minutes etc. in black and white. | Company secretary would assist in the preparation of resolutions, attend meetings if required, and maintain all secretarial records of the registered office. |
| SSM Lodgement for Financial Record | Need to lodge annual declaration for:- 1st incorporation : within 18 months Existing : 90 days | Audited Financial Statement (AFS) or Unaudited Financial Statement (UFS). To be circulated within 6 months after the Financial Year End (FYE) and to be lodged 30 days after circulation date. For example:- FYE : 31.12.2023 Circulation Date : 20.06.2024 Lodgment Date : 31.07.2024 |
| Annual Maintenance | Lower annual maintenance costs as company secretarial services or audits are not required. | Could be costly due to maintain a compliance to CA2016 which includes secretary, audit and tax. |
| Sources of Capital | Capital contribution by each partner. | Allotment / Issuance of share capital. |
| Liability Risk Prevention | A PLT liability is limited to do its partners contribution. | A Sdn Bhd has a limited liability cap to the share capital. |
| Income Tax Rates | First RM 150,000 = 15% RM 15,001 to RM 599,999 = 17% RM 600,000 and above = 24% *For foreign shareholder, the income tax rates are all 24%. For capital contribution less than RM 2.5 mil. | First RM 150,000 = 15% RM 15,001 to RM 599,999 = 17% RM 600,000 and above = 24% *For foreign shareholder, the income tax rates are all 24%. For capital contribution less than RM 2.5 mil and gross business income < RM 50 mil. |
| Partners/ Directors Remunerations | Must have a partner agreement between partners on their salary drawings to be tax deductible. | Can declare director's remuneration similar to employees or director fees which are not subject to EPF, SOCSO and EIS. |
| Suitability of Formations | Suitable for stable businesses where no plans for M&A, major ownership transfer, no plans for IPOs or fundraising from banks. | Sdn Bhds are more credible due to periodic audits requirement. Fundraising is easier either from banks or from the public via Initial Public Offering (IPOs). Shares can be easily transferred from owner to owner. |
| Returns | Share of Profit | Dividends |
Steps on Incorporating Company
Keeper will assist you along with the incorporation procedure within 3 to 5 working days!
Meet Up
To discuss your requirements and eligibility to set up a limited liability company
Form Filling
Complete the required forms on the details of your proposed company name, director(s) and shareholder(s).
SSM
Name search and approval from SSM. Normally takes 1-3 day(s)
KYC
Physical or virtual meeting with director(s) and shareholder(s) to verify client’s identities for due diligence purposes.
Incorporated
Your company will be incorporated with a press of a button, once the incorporation fee is paid. Congratulations!!
Meet Up
To discuss your requirements and eligibility to setup a limited liability company
Form Filling
Complete the required forms on the details of your proposed company name, director(s) and shareholder(s).
SSM
Name search and approval from SSM. Normally takes 1-3 day(s)
KYC
Virtual or physical meeting with director(s) and shareholder(s) for final confirmation of company’s structure
Incorporated
Your company will be incorporated with a press of a button, once the incorporation fee is paid. Congratulations!!
NEW INCORPORATION PRICE
LIMITED OFFER!
Inclusive of:
- SSM registration fees
RM 1, 060 - 3 names search
RM 150 - 1 minutes book
RM 50 - 5 resolutions comprising
RM 600
Opening bank account
Fixing financial year-end
Appointment of auditors
Appointment of tax agent
Tenancy agreement
Consultation Fees RM 650
RM 2, 510
FAQ Incorporation
1. What is the information required for incorporation?
To incorporate a company, you may need to prepare the required information as follows:
(a) Proposed company names (at least 3 names)
(b) Principal business activities of the new company setup
(c) Photocopy or scan copy of NRIC / passport of all director(s) and shareholder(s)
(d) Latest residential addresses of all directors with proof of address such as utilities (if different from IC)
(e) For foreign director, kindly provide the tenancy agreement (*Note: The sole foreign director must reside in Malaysia.)
(f) Paid-up capital information (min RM1 or max RM 1,000)
(g) Percentage of shareholders and legal owners
2. How do I incorporate my business in Malaysia
(a) Meet up: To discuss the requirements and eligibility to set up a company limited by share.
(b) Forms Filling: Complete the required forms on details of your proposed company name, director(s) and shareholder(s).
(c) SSM: Name search and approval from SSM. Normally takes 1 to 3 day(s)
(d) KYC: Physical or virtual meeting with director(s) and shareholder(s) after the application of name search and subject to approval from SSM.
(e) Incorporated: Your company will be incorporated with a press of a button, once the incorporation fee is paid. Congratulations!!
3. What Requirements Will I Need to Fulfill After Company Incorporation?
(a) Fix Financial Year End (FYE) within 18 months after the incorporation
(b) Appoint auditors
(c) Lodgment of Annual Return annually
(d) Lodgment of Audited Financial Statement (AFS)
(e) Change of particulars (Passport, residential service address etc.)
Don’t worry! We assist you to ease your process of becoming a successful entrepreneur. Drop us a message anytime!
| Sdn Bhd | PLT |
|---|---|
| Number of Partners/ Directors | Minimum of 2 partners & unlimited maximum |
| Secretarial Requirements | Not required. Only requires a compliance who is a partner of the PLT. |
| Administration Process | Without a secretary, a partner is required to keep black & white documents pf partner registrations, meeting minutes, etc. |
| Accounts Filing Requirement | 3 months after financial closing. Limited number in the accounts to be filed. |
| Content | PLT |
|---|---|
| Number of Partners/ Directors | Minimum of 2 partners & unlimited maximum |
| Secretarial Requirements | Not required. Only requires a compliance who is a partner of the PLT. |
| Administration Process | Without a secretary, a partner is required to keep black & white documents pf partner registrations, meeting minutes, etc. |
| Accounts Filing Requirement | 3 months after financial closing. Limited number in the accounts to be filed. |
Keeper My
Proact Advisory & Solutions Sdn. Bhd.
202101020979 (1421279-K)
Unit A-3-3A, Block A, 8 Avenue Business Centre, Seksyen 8, Jalan Sungai Jernih 8/1, Seksyen 8 Petaling Jaya, 46050 Petaling Jaya, Selangor, Malaysia.
