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AI Executive Summary
A comprehensive roadmap for incorporating a private limited company in Malaysia: MyCoID name search, director statutory requirements, and licensed CoSec appointment.
Why Incorporate a Sdn Bhd?
A Sendirian Berhad (Sdn Bhd) is a separate legal entity from its founders, providing limited liability protection, enhanced credibility with banks and enterprise clients, and eligibility for SME tax brackets and government grants.
Key Statutory Requirements under Companies Act 2016
- Minimum Directors: At least one director who ordinarily resides in Malaysia with a principal place of residence in Malaysia.
- Minimum Shareholders: At least one shareholder (can be an individual or corporate body, local or foreign).
- Registered Office: A physical registered office address in Malaysia where all statutory books and registers are kept.
- Company Secretary: Appointment of a licensed Company Secretary (MACS, MAICSA, or licensed by SSM) within 30 days of incorporation.
Post-Incorporation Checklist
- Open a corporate bank account with an authorised Malaysian commercial bank.
- Register employer files with EPF (KWSP), SOCSO (PERKESO), EIS, and LHDN.
- Apply for Local Town Council (PBT) Premise and Signboard business licenses.