Official Name: Malaysia
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- Start to finish your company registration process
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Malaysia is a country located in Southeast Asia, consisting of two regions separated by the South China Sea. The country is a melting pot of diverse cultures, with influences from Malay, Chinese, Indian, and European traditions. Malaysia has a rich history, with evidence of human habitation dating back to the Paleolithic era. Here is an overview of Malaysia’s history, culture, economy, and politics:
Malaysia was ruled by various empires throughout its history, including the Srivijaya, Majapahit, Melaka Sultanate, and Johor Sultanate. In 1786, the British established a trading post in Penang, and later gained control of the entire Malay Peninsula. In 1957, Malaysia gained independence from Britain, and has since become a member of the Commonwealth of Nations.
Malaysia’s culture is a unique blend of Malay, Chinese, Indian, and European influences. The country has a diverse population, with the Malay ethnic group being the largest. The official language is Malay, but English is widely spoken. Malaysia is known for its food, which is a fusion of different cuisines. The country is also known for its arts and crafts, such as batik textiles and wood carvings.
Malaysia’s economy is one of the most developed in Southeast Asia, with a mix of industries including manufacturing, services, and agriculture. The country is a major exporter of electronic products, petroleum, and natural gas. Malaysia is also a popular tourist destination, with a thriving tourism industry.
Malaysia is a federal constitutional monarchy, with a parliamentary system of government. The head of state is the Yang di-Pertuan Agong, who is elected by a council of state rulers. The head of government is the Prime Minister, who is appointed by the Yang di-Pertuan Agong.
Malaysia is a country with a rich history, diverse culture, and thriving economy. Here is a closer look at some of the key aspects of Malaysia:
The majority of Malaysians practice Islam, which is the official religion of the country. There are also significant populations of Buddhists, Hindus, and Christians.
Malaysia has a well-developed education system, with compulsory education for children between the ages of six and 17. The country has a high literacy rate, and has a number of universities and colleges that attract students from around the world.
Malaysia is a popular tourist destination, with a range of attractions such as tropical islands, beaches, historic landmarks, and cultural festivals. The country has also invested heavily in its tourism infrastructure, with modern airports, hotels, and entertainment venues.
Like many developing countries, Malaysia faces environmental challenges such as deforestation, air and water pollution, and climate change. The government has implemented policies to address these issues, such as a ban on logging in certain areas and incentives for renewable energy.
Malaysia also faces social issues such as income inequality, poverty, and discrimination against minority groups. The government has implemented policies to address these issues, such as affirmative action programs for ethnic Malays and indigenous peoples.
Overall, Malaysia is a country with a unique blend of cultures and traditions, a thriving economy, and a commitment to addressing its social and environmental challenges.
Types of company registration
Sole Proprietorship: A sole proprietorship is a business that is owned and run by one person. This type of business is easy to set up and requires minimal legal formalities. The owner is personally responsible for all the debts and liabilities of the business.
Partnership: A partnership is a business that is owned and run by two or more people. The partners share the profits and losses of the business. There are two types of partnerships: general partnerships and limited partnerships.
Private Limited Company (Sdn Bhd): A private limited company is a business that is owned by shareholders. The liability of the shareholders is limited to the amount of their share capital. This type of business is more complex to set up than a sole proprietorship or partnership, and requires compliance with legal requirements under the Companies Act 2016.
Public Limited Company (Berhad): A public limited company is a business that is owned by shareholders and listed on a stock exchange. This type of business is subject to stricter legal requirements and must comply with regulations set by the Securities Commission and Bursa Malaysia.
Foreign Branch Office: A foreign branch office is a business entity that is registered in Malaysia and is a branch of a foreign company. This type of business is subject to the same regulations as a private limited company in Malaysia.
Limited Liability Partnership (LLP): A limited liability partnership is a hybrid of a partnership and a private limited company. This type of business offers the benefits of limited liability to its partners, while also allowing them to actively manage the business.
Advantages of company registration in Malaysia:
Limited Liability: One of the most significant advantages of incorporating a company is that the liability of the shareholders is limited to the amount of their share capital. This means that in case the company incurs any debts or legal liabilities, the shareholders’ personal assets will not be at risk.
Tax Incentives: Malaysia offers several tax incentives to registered companies, which can help to reduce their overall tax burden. These incentives include tax exemptions, tax deductions, and tax credits.
Access to Funding: Registered companies in Malaysia have access to a wider range of funding options, including loans, grants, and equity financing. This is because banks and investors tend to view registered companies as more stable and trustworthy.
Legal Protection: Registered companies have legal protection under the law, which means that their rights and interests are protected. This can include protection against fraud, breach of contract, and intellectual property infringement.
Brand Recognition: Incorporating a company in Malaysia can help to establish brand recognition and reputation, which can be beneficial for attracting customers and business partners.
Perpetual Existence: A registered company in Malaysia has perpetual existence, which means that it continues to exist even if the shareholders or directors change. This provides stability and continuity to the business.
Credibility: A registered company in Malaysia is seen as more credible and professional than an unregistered business. This can be beneficial when dealing with customers, suppliers, and other business partners.
What are the requirements for company registration in Malaysia?
To register a company in Malaysia, you need to have at least one director who is a Malaysian resident, a company secretary who is also a Malaysian resident, a registered office address in Malaysia, and a minimum paid-up capital of RM1. Additionally, you will need to submit the necessary forms and documents to the Companies Commission of Malaysia (SSM) for registration.
How long does it take to register a company in Malaysia?
The process of registering a company in Malaysia usually takes around 1-2 weeks if all the documents and requirements are in order. However, it may take longer if there are issues with the submitted documents or if additional approvals are required.
What is the cost of company registration in Malaysia?
The cost of company registration in Malaysia depends on the type of company and the amount of authorized share capital. Generally, the cost ranges from RM1,000 to RM3,000.
Can a foreigner register a company in Malaysia?
Yes, a foreigner can register a company in Malaysia. However, they will need to have a local director who is a Malaysian resident, and they will need to comply with all the requirements and regulations set by the Malaysian government.
What types of companies can be registered in Malaysia?
There are several types of companies that can be registered in Malaysia, including sole proprietorships, partnerships, private limited companies, public limited companies, and foreign branches.
What is a company secretary and do I need one for my registered company in Malaysia?
A company secretary is responsible for ensuring that the company complies with all legal and regulatory requirements. In Malaysia, all registered companies are required to have a company secretary.
What is the minimum and maximum number of shareholders for a company in Malaysia?
The minimum number of shareholders required for a company in Malaysia is one, and there is no maximum limit.
What is the minimum and maximum number of directors for a company in Malaysia?
The minimum number of directors required for a company in Malaysia is one, and there is no maximum limit.
Can I register my company online in Malaysia?
Yes, it is possible to register a company online in Malaysia through the Companies Commission of Malaysia’s (SSM) e-Lodgement system.
What are the taxes applicable to a registered company in Malaysia?
The taxes applicable to a registered company in Malaysia include corporate income tax, goods and services tax (GST), and withholding tax on payments made to non-residents. The corporate income tax rate is currently 24%, and the GST rate is 6%.
Can I use a virtual office for my registered company in Malaysia?
Yes, you can use a virtual office as your registered office address in Malaysia. However, you will need to provide proof of your tenancy agreement or agreement with the virtual office provider.
Can I register a company with a foreign name in Malaysia?
Yes, you can register a company with a foreign name in Malaysia as long as it is not prohibited by the Registrar of Companies.
Do I need a local director for my registered company in Malaysia?
Yes, at least one director of a registered company in Malaysia must be a local resident director.
Can I apply for a business visa for Malaysia after registering my company?
Yes, once your company is registered in Malaysia, you can apply for a business visa to enter the country for business purposes.
What are a memorandum and articles of association and how do they relate to company registration in Malaysia?
The memorandum and articles of association are legal documents that govern the operations of a company. They define the company’s objectives, rules, and regulations. These documents are required during the company registration process in Malaysia.
What is the difference between a private limited company and a public limited company in Malaysia?
A private limited company in Malaysia has a maximum of 50 shareholders and is not allowed to offer its shares to the public. A public limited company, on the other hand, can offer its shares to the public and has no limit on the number of shareholders.
How do I choose a suitable name for my company in Malaysia?
The name of your company must comply with the guidelines set by the Companies Commission of Malaysia (SSM). The name should not be similar to an existing company or trademark, and it should not be offensive or misleading.
What documents are required for company registration in Malaysia?
The documents required for company registration in Malaysia include the memorandum and articles of association, a statutory declaration by a company secretary or director, a declaration of compliance, and identification documents for the shareholders and directors.
Can I register a company in Malaysia without visiting the country?
Yes, you can register a company in Malaysia without visiting the country by engaging a professional services firm to assist you with the registration process.
Can I change the name of my registered company in Malaysia?
Yes, you can change the name of your registered company in Malaysia. However, you will need to follow the guidelines set by the Companies Commission of Malaysia (SSM) and pay the necessary fees.
Can I register a company in Malaysia as a sole proprietor?
No, a sole proprietorship is not considered a separate legal entity in Malaysia, and thus, cannot be registered as a company. However, you can register a sole proprietorship with the Companies Commission of Malaysia (SSM) as a business entity.
Can I register a company in Malaysia if I don’t have a physical office?
Yes, you can register a company in Malaysia without a physical office address. However, you need to provide a registered office address in Malaysia where official documents can be sent and received.
Can I operate my registered company in Malaysia from overseas?
Yes, you can operate your registered company in Malaysia from overseas. However, you need to appoint at least one resident director who is a Malaysian citizen or a foreigner with a Malaysian work visa.
What is a free zone in Malaysia and how does it differ from other areas?
A free zone is a designated geographical area within Malaysia where companies can enjoy various benefits such as tax exemptions, customs duty-free imports and exports, and streamlined administrative procedures. The difference from other areas is that companies operating in free zones are subject to separate regulations and policies.
What are the benefits of setting up a company in a free zone in Malaysia?
The benefits of setting up a company in a free zone in Malaysia include tax exemptions, customs duty-free imports and exports, streamlined administrative procedures, access to world-class infrastructure and facilities, and proximity to major transportation hubs.
Can a foreign company set up a branch in a free zone in Malaysia?
Yes, a foreign company can set up a branch in a free zone in Malaysia, subject to compliance with the regulations and policies governing free zones.
What are the requirements for setting up a company in a free zone in Malaysia?
The requirements for setting up a company in a free zone in Malaysia vary depending on the type of business activity and location. Generally, you need to provide the necessary documentation, such as company registration certificates and financial statements, and comply with the regulatory requirements and policies governing free zones.
Can a company in a free zone do business outside of the zone?
Yes, a company in a free zone can do business outside of the zone. However, they need to comply with the regulations and policies governing international trade.
How are companies in free zones taxed in Malaysia?
Companies in free zones are generally exempted from income tax and other taxes on their activities within the free zone. However, they are subject to other taxes, such as customs duty and excise duty, on their activities outside the free zone.
What industries are suitable for setting up in a free zone in Malaysia?
Industries that are suitable for setting up in a free zone in Malaysia include logistics, manufacturing, high-tech industries, and services related to international trade, such as warehousing and distribution, e-commerce, and regional headquarters.
Documents required to register a company:
The following are the documents required to register a company in Malaysia:
- Proposed company name
- Business activities of the company
- Company’s registered office address
- Identity card or passport of all directors and shareholders
- Memorandum and Articles of Association (MAA)
- Form 24 (Return of Allotment of Shares)
- Form 49 (Return Giving Particulars in Register of Directors, Managers, and Secretaries)
- Letter of approval from relevant authorities, if required for certain business activities
- Statutory Declaration by the company secretary or a director affirming compliance with the requirements of the Companies Act 2016
- Payment of registration fees
It is important to note that the exact documentation requirements may vary depending on the type of company being registered and the specific circumstances of the application. It is recommended to seek the advice of a professional consultant or a company registration service provider to ensure that all necessary documents are obtained and submitted correctly.
Company registration in Free Zone – Malaysia
In Malaysia, a free zone is a designated area where businesses can be established with special rules and regulations that differ from the rest of the country. The country has several free zones, including Labuan, Port Klang, and Johor Bahru.
Here are the details for company registration in the Labuan Free Zone in Malaysia:
Company types: Labuan offers the following company types: Labuan Company, Labuan International Company, and Labuan Limited Liability Partnership.
Registered office and resident secretary: A Labuan company must have a registered office and a resident secretary. The registered office must be located in Labuan, and the resident secretary must be a licensed Labuan trust company.
Shareholders: A Labuan company can have a minimum of one shareholder and a maximum of 50 shareholders. Shareholders can be individuals or corporations, and can be of any nationality.
Directors: A Labuan company must have at least one director, who can be of any nationality. The director can be an individual or a corporation.
Share capital: A Labuan company can have any amount of share capital, and the capital can be denominated in any currency.
Taxation: Labuan companies are taxed at a flat rate of 3% or a maximum of MYR 20,000 per year, whichever is lower. They are exempt from all other taxes and duties, including income tax, stamp duty, and withholding tax.
Licenses: Certain businesses require a license to operate in Labuan, including financial services, trading, and marketing.
Application process: The application process for company registration in Labuan involves submitting the necessary documents, such as the memorandum and articles of association, to the Labuan Financial Services Authority. The process can take up to 5 working days.
Benefits: The benefits of setting up a company in the Labuan Free Zone include low taxation, no foreign exchange controls, and exemption from certain regulations and taxes.
It is advisable to consult with a professional service provider or a lawyer who has experience in company registration in Malaysia’s free zones to ensure the smooth and proper establishment of a company in Labuan.
Type of Banks in Malaysia:
There are several types of banks in Malaysia, each with its own benefits and services. Here are some of the most common types:
Commercial banks: These are banks that offer a wide range of financial services to individuals and businesses, such as savings and current accounts, loans, credit cards, and investment products. Some examples of commercial banks in Malaysia include Maybank, CIMB, and Public Bank.
Islamic banks: These are banks that follow the principles of Islamic law, which prohibits charging or paying interest (riba). Instead, they offer products based on profit-sharing, such as Mudharabah and Musyarakah, as well as other Shariah-compliant financial services. Examples of Islamic banks in Malaysia include Bank Islam, CIMB Islamic, and Hong Leong Islamic Bank.
Investment banks: These are banks that specialize in providing financial advisory services, underwriting securities offerings, and arranging mergers and acquisitions. They also offer other services such as trading of stocks and bonds, investment management, and structured finance. Examples of investment banks in Malaysia include CIMB Investment Bank and Maybank Investment Bank.
Development banks: These are banks that provide financing for infrastructure projects and development activities, especially in rural areas. They offer long-term loans, equity financing, and other types of financing to support economic development. Examples of development banks in Malaysia include Bank Pembangunan Malaysia Berhad and SME Bank.
Foreign banks: These are banks that are based outside of Malaysia but have a presence in the country. They offer similar services to commercial banks and are regulated by the central bank of Malaysia. Examples of foreign banks in Malaysia include HSBC, Standard Chartered, and Citibank.
The benefits of using a bank in Malaysia depend on the type of bank and the specific services offered. Commercial banks, for example, offer a wide range of financial products and services, making them suitable for most individuals and businesses. Islamic banks are ideal for customers who prefer Shariah-compliant financial products and services. Investment banks are useful for companies that need assistance with mergers and acquisitions, underwriting securities offerings, and investment management. Development banks are useful for entrepreneurs and businesses that need financing for development projects. Foreign banks are useful for customers who have international banking needs or who prefer the services offered by these banks.
Overall, the banking industry in Malaysia is highly regulated and offers a wide range of services to meet the needs of individuals, businesses, and investors.
The top universities in Malaysia:
Here are the top universities in Malaysia with their QS World University Rankings 2023, website, location, and major courses:
Universiti Malaya (UM)
QS Ranking: 46
Location: Kuala Lumpur
Major Courses: Medicine, Law, Engineering, Business Administration, Economics
Universiti Putra Malaysia (UPM)
QS Ranking: 132
Location: Serdang, Selangor
Major Courses: Agriculture, Forestry, Veterinary Science, Engineering, Computer Science
Universiti Kebangsaan Malaysia (UKM)
QS Ranking: 141
Location: Bangi, Selangor
Major Courses: Medicine, Dentistry, Law, Economics, Education
Universiti Sains Malaysia (USM)
QS Ranking: 145
Major Courses: Medicine, Engineering, Sciences, Social Sciences, Management
Universiti Teknologi Malaysia (UTM)
QS Ranking: 165
Location: Johor Bahru, Johor
Major Courses: Engineering, Sciences, Computing, Management, Built Environment
Universiti Teknologi MARA (UiTM)
QS Ranking: 651-700
Location: Shah Alam, Selangor
Major Courses: Business, Management, Accounting, Law, Arts and Design
International Islamic University Malaysia (IIUM)
QS Ranking: 701-750
Location: Kuala Lumpur
Major Courses: Islamic Studies, Law, Economics, Engineering, Social Sciences
Universiti Utara Malaysia (UUM)
QS Ranking: 751-800
Location: Sintok, Kedah
Major Courses: Business, Management, Accounting, Economics, Law
QS Ranking: 801-1000
Location: Subang Jaya, Selangor
Major Courses: Business, Hospitality and Tourism, Design, Engineering, Computing
Universiti Tunku Abdul Rahman (UTAR)
QS Ranking: 801-1000
Location: Kampar and Kuala Lumpur
Major Courses: Business, Accounting, Engineering, Sciences, Computing
Strange or unusual to visitors in Malaysia
Malaysia is a diverse and culturally rich country, and there are several things that may seem strange or unusual to visitors. Here are some examples:
Weather: The climate in Malaysia is hot and humid all year round, which may be uncomfortable for visitors who are not used to such conditions.
Food: Malaysian cuisine is a blend of Chinese, Indian, and Malay influences, which may be unfamiliar to some visitors. The use of spices and herbs may also be different from what they are used to.
Religion: Islam is the predominant religion in Malaysia, and visitors may notice that many businesses and restaurants close for prayer times. It is also important to dress modestly when visiting mosques and other religious sites.
Traffic: Traffic in Malaysia can be chaotic and congested, especially in major cities like Kuala Lumpur. Visitors may also find it unusual to see motorcycles weaving in and out of traffic.
Language: While English is widely spoken in Malaysia, visitors may encounter situations where they need to communicate in Malay or Chinese, especially in rural areas.
Dress code: Malaysia has a conservative dress code, and visitors should dress appropriately when visiting religious sites and government buildings.
Cultural practices: Visitors may be surprised to see traditional cultural practices such as shadow puppetry, kite-flying, and dragon boat racing, which are still prevalent in Malaysia.
Etiquette: Malaysia has its own unique customs and etiquette, such as removing shoes before entering someone’s home, and using the right hand for eating and passing objects.
Overall, visitors to Malaysia should be open-minded and respectful of the country’s diverse cultures and customs.
“Tips for Newcomers: Adjusting to Life in Malaysia”
If you are a newcomer to Malaysia, here are some tips to help you adjust to life in this diverse and vibrant country:
Learn the local language: While English is widely spoken in Malaysia, it’s a good idea to learn some basic phrases in Bahasa Malaysia (the official language) to help you communicate with locals.
Embrace the culture: Malaysia is a melting pot of cultures and religions, and the best way to truly experience it is to embrace the local customs and traditions.
Try the food: Malaysian food is a fusion of Chinese, Indian, and Malay flavors, and it’s one of the country’s biggest draws. Be adventurous and try different types of food, from street food to high-end restaurants.
Be aware of the weather: Malaysia has a tropical climate, which means it’s hot and humid all year round. Dress appropriately and stay hydrated, especially during the dry season.
Get to know your neighborhood: Take the time to explore your local area and get to know your neighbors. This can help you feel more connected to the community and find local resources.
Respect the local customs: Malaysia is a conservative country, so it’s important to respect local customs and dress modestly in public places, especially when visiting places of worship.
Stay safe: Malaysia is generally a safe country, but it’s still important to take precautions to stay safe, especially when traveling alone or at night. Be aware of your surroundings and avoid carrying large amounts of cash or valuables.
Find a support network: Moving to a new country can be overwhelming, so it’s important to find a support network to help you settle in. This can be through social clubs, community groups, or expat forums.
By following these tips, you can adjust to life in Malaysia more easily and enjoy all that this beautiful country has to offer.
Top recruitment agencies in Malaysia
Here are some top recruitment agencies in Malaysia with their website:
Randstad Malaysia – https://www.randstad.com.my/
ManpowerGroup Malaysia – https://www.manpower.com.my/
Kelly Services Malaysia – https://www.kellyservices.com.my/
Hays Malaysia – https://www.hays.com.my/
Adecco Malaysia – https://www.adecco.com.my/
Michael Page Malaysia – https://www.michaelpage.com.my/
Robert Walters Malaysia – https://www.robertwalters.com.my/
EPS Malaysia – https://www.epsmalaysia.com.my/
JAC Recruitment Malaysia – https://www.jac-recruitment.my/
Recruit Express Malaysia – https://www.recruitexpress.com.my/
The necessary phone numbers in Malaysia
Emergency Services: 999 (Police, Ambulance, Fire Department)
Non-Emergency Police: 03-2115 9999
Tourist Police: 03-2149 6590
Poison Control Center: 03-8883 4563
Fire and Rescue Department: 03-8920 9999
Civil Defense Force: 03-8064 2222
Malaysian Maritime Enforcement Agency: 03-8870 2010
Immigration Department: 03-8880 1555
Malaysian Road Transport Department: 03-8000 8000
Malaysia Airlines Customer Service: 1-300-88-3000
Telekom Malaysia Customer Service: 100 or 1300-88-1221
Tenaga Nasional Berhad Customer Service: 15454 or 1800-88-5454
Celcom Customer Service: 1111 or 1300-111-000
Maxis Customer Service: 123 or 1800-82-1123
Digi Customer Service: 016-221 1800 or 016-299 8888
Note: The country code for Malaysia is +60.
MM2H Program (Malaysia My Second Home)
The Malaysia My 2Second Home (MM2H) program is a scheme that allows the Malaysian government to grant long-term (10-year) visas to those interested in living in Malaysia.
Mr. Mohd bin Atan
Global Spark Enterprise
Address: No. 32 – 3A, Jalan Temenggung 7/9, Section 9, Bandar Mahkota Cheras, 9th mile, Cheras, 43200 Selangor Darul Ehsan, Malaysia.
Mobile: +6 – 019-336-3481