What is a private limited company (Snd Bhd)?
A private limited company is the most common form of business entity in Malaysia, because unlike sole proprietorship, a private limited company is a separate legal identity. It can acquire assets, go into debt, enter into contracts, sue or be sued in its name and has a perpetual succession until the directors and shareholders decide to dissolve the company.
Setting up a private limited company in Malaysia as a foreigner
Advantages of starting a private
limited company in Malaysia.
A business entity can be 100% own by foreign equities for most business activities.
Fast setup time
Relaxed tax liability
Here’s what you need to register
a private limited company.
A unique company name
At least 1 shareholder
A resident director
A company secretary
Address in Malaysia
At least RM1,000 in capital
Steps to starting a private limited company.
1. Name search
Conducting a name search for business at SSM to determine the availability of the proposed company name.
2. Company registration
Registering a foreign company in Malaysia with the Companies Commission of Malaysia (SSM).
3. Opening a corporate bank account
You can opt to open a bank account with any local or international banks in Malaysia.
4. Obtaining permits and licenses
6. Meeting tax obligations
Registering the company for corporate tax by completing and submitting Form CP 600C with the Inland Revenue Board of Malaysia