Guidelines to open a company in Malaysia

Is it too complicated to open a business in Malaysia? What are the procedures of starting a business in this country? These might be the query questions spinning in your head if you are a business entrepreneur. Before solving all your business-related queries, you must consider several aspects beforehand. First, you have to set up a firm mind. Confused mind cannot come up with long lasting and sustainable business plan. Next, you need is enough persuasion, and commitments towards the business. If you think you have these characteristics, you are ready to go with procedures. This article will guide you about the procedures of starting business in Malaysia. A big thanks to S & F consulting firm. This renown business consulting firm provided all the information about company registration procedures.

We will discuss about Private Limited Company or Sdn Bhd, as it is the most common form of business here. So, let’s move into the processes of opening a company in Malaysia.

1. First fix your business idea and plan it in a systematic formation. Strong base plan always pays off well during company timeline
2. Next, you have to choose the type of your business. There are several business types Malaysian authority allows. You must choose one from these, as each business type has individual requirements. You have four choices of business types to choose from in Malaysia. 
3. These types are:
   · Private Limited Company (Sdn Bhd)
   · Public Limited Company (Berhad)
   · Sole proprietorship
   · Partnership.
   
   
4. If you have fixed the type you want to move forward with, it’s now time to make financial arrangements. By now you suppose to have proper business planning, and aware of the type of business you want to start. So, separate your capital for your company's investment. Make long term financial plans to keep the flow of money smooth during company's timeline. Set the budget for start-up marketing, launching and post-operational costs in mind.
5. Now you must register your company name. Collect online registration forms from SSM e-Lodgment. It is wise to propose 2 to 3 names to prevent rejection possibilities. Submit drafted Form PNA.42 and Form-A, along with ID copy, and some other forms to SSM.
6. Submit completed MoA and AoA with company's drafted registration forms to the SSM. If papers are appropriate, you will get company registration certificate within few hours.
7. After that you have to open a company bank account. All transactions in relation to the company will carry out through this account. A new account also helps you to differentiate personal money to business capital.
8. Get appropriate licenses for signboard, premises, trade etc. from state departments. Including with other license, you will also need halal certification from appropriate ministries.
9. If you are not a citizen of Malaysia, applying for appropriate work permit or investor visa.
   The final step is to buy appropriate insurance packages for your company. This will protect your business in times of crisis and unwelcome situations. 

Read Also: Registering a company in Malaysia as a foreigner