Company dissolution
in Malaysia.

For whatever reason, if you decide to no longer continue to do business in Malaysia, you need to go through the formal process of closing down your company.

Company dissolution in Malaysia

Closing your company in Malaysia with finality in three steps.

Evaluating your business

We will assess the current state of your business and advise on the best way of dissolving or suspending it.

Preparing the paperwork

Our specialist will create paperwork necessary for legally dissolving your company and facilitating cancellation and withdrawal of existing licences.

Filing with the relevant authorities

We will file your company dissolution with the relevant authorities in Malaysia.

Company dissolution services

Two ways we can close your company.

When a business/company deregistered with the Suruhanjaya Syarikat Malaysia (SSM), it implies the business entity is no longer registered and has no legal standing since it’s not doing any business nor have assets or liabilities. There are two ways of closing down the Sdn Bhd Company:

  • Striking off a solvent company

    Where the company has not been carrying on business or is not in operation and has no intention to carry on business in the future. The following conditions apply:

    The company…
    • is not carrying on business or is not in operation
    • has no assets and liabilities at the time when the application is made
    • has no outstanding charges in the Registrar of Charges and Compounds
    • has no outstanding tax or other liabilities with any Government Department
    • and/or director are not involved in any legal proceedings within or outside Malaysia
    • is not a holding company
    • has not made any return of capital to the shareholders in the company
    • is not a “Guarantor Corporation”. A “Guarantor Corporation” means a corporation that has guaranteed or has agreed to guarantee the repayment of any money received or to be received by any third party.
  • Winding-up or liquidation

    Contrary to striking off, liquidation or winding up is a process set in motion either voluntarily (or involuntarily due to not being able to meet its financial obligations). The basic form of company liquidation in Malaysia is:

    • Members’ voluntary liquidation of a solvent company
    • When the company is solvent and its members or shareholders decide to cease business operations, a voluntary liquidation is adopted. The process begins with appointing a liquidator that wind up the company’s affairs and to file the necessary notifications required under the Companies Act with SSM and Official Receiver

Charged hourly
FAQ

Common questions.

How long does it take to dissolve a company in Malaysia?
There are two main ways to dissolve a solvent company in Malaysia: by deregistration and by liquidation. A company with no assets and liabilities can usually be deregistered within 6 to 9 months or be liquidated within 12 months.
Who can be the liquidator of a company?
Liquidator is appointed by members of a company if it is to be wound up voluntarily by members to monitor and handle the whole process of liquidation. In case of company winding up voluntarily by creditors, liquidator appointed by creditors must be a solicitor or a certified public accountant.
Are directors personally liable for company debts?
Generally speaking, directors are not personally liable for company debts, unless they have obtained advantages from the company unlawfully or in breach of the duties as a director.
Ready to get started?

Let our teams cover all requirements for closing your company with finality.

Non-binding & confidential
Not sure where to begin?

Get a free 30-minute consultation on starting and operating your company in Malaysia.

Jessica Leong, Regional Business Development Manager


© Acclime Malaysia 2020 | Privacy policy