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:
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
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.
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.