||Time to complete
||Cost to complete
|| Application to the Companies Commission of Malaysia (CCM) on the prescribed form (13A) to ensure the availability of the proposed company’s name.
||Stamp the company documents
||Promoters stamp the memorandum and articles of association at the Inland Revenue Board’s Stamp Office.
Original copy registered with the Companies of Malaysia
Stamp cost RM100 (Memorandum) and RM100 (Articles with a 2nd set stamped at RM10 each)
||File necessary documents with the Companies Commission of Malaysia within 3 months after name reservation
||RM2550 (registration fee)
||Promoters must pay the registration fee and file the following incorporation documents with the Companies Commission within 3 months of name reservation:
- Memorandum and articles of association and the statutory declaration of compliance (Form 48A)prepared by a lawyer or the company secretary
- Particulars of :-
Original Form 13A and a copy of the letter from the CCM approving the name of the company have to be attached.
Address of location of the registered office
Form 6 (statutory declaration compliance) upholding compliance with the requirements of the Companies Act 1965 and the Companies Regulations on matters precedent and incidental to the company’s registration. The form must be filed by the company secretary.
After the submission of the incorporation papers, the CCM issues Form 9 (certificate of incorporation) in 1-2 working days upon lodgment of the relevant documents.
Registration fee for the authorized share capital is charged the following scale and is payable to the Companies Commission:-
- Two subscribers holding a minimum of one share of RM1 each
- At least two directors who have their principal or sole place of residence in Malaysia.
- RM1000 for capital RM100,000
- RM3000 for capital RM100,001-500,000
- RM5000 for capital RM500,001-1 million
- RM8000 for capital RM1,000,001-5 million
- RM10,000 for capital RM5,000,001-10 million
- RM20,000 for capital RM10,000,001-25 million
- RM40,000 for capital RM25,000,001-50 million
- RM50,000 for capital RM50,000,001-100 million
- RM70,000 for capital over RM100 million
||Make a company seal
||Alternatively, the seal can be ready in 3 days for RM100
||Purchase statutory books and share certificates books
||The statutory and share certificate books can be purchased from certain specialized stationery shops.
||Register with the Income Tax Department
||1 day (trivial)
||Company registration with Inland Revenue Board (IRB)
Form 9 (Certificate of Incorporation) and Form 49 (Return Giving Particulars in Register of Directors, Managers and Secretaries and Changes of Particulars)
If registered online, the tax reference number will be given in 4 working days
If registered at the IRB counter, tax reference number will be given immediately upon registration
Small and medium-size companies with paid-up capital of RM2.5 million and below pay corporate tax at 20% on chargeable income of up to RM500,000. Any chargeable income above RM500,000 is subject to the normal corporate rate. The corporate rate is 26% for 2008 and proposed to be reduced to 25% in following years.
||Register for Employment Provident Fund (EPF)
||Promoters register with any branch of the EPF by completing the applicable form and submitting the relevant documents.
Registration EPF cannot be done online but the registration form (Form KWSP 1) can be downloaded from www.kwsp.gov.my website.
After the registration is complete and there is no problem with the EPF system, the registration number will be given immediately upon registration.
||Register with Social Security Organization
||Employer must compulsorily register any employee whose monthly wages is less than RM3000 with and contribute to the Social Security Organization (SOCSO) regardless of whether such employees’ employment status is permanent, temporary or casual.
Registration with the SOCSO cannot be done online.
Form 1 (Employers’ Registration Form) and Form 2 (Employees’ Registration Form) can be downloaded at www.perkeso.gov.my and then the registration number will be given immediately upon registration at the counter.
||Notify the Director General of the Inland Revenue Board of the employment of workers
||Employer will need to provide the Inland Revenue Board with the list of taxable employees when the employer registers with the IRB as an employer and to update the list where necessary.