Frequently Asked Questions
How to incorporate a new company?
The process will be hassle-free and smooth with TrustMaven. Just sign up and get started at TrustMaven Platform and we will take care the rest for you.
What are the key requirements for setting up a private limited company in Malaysia?
- One or more directors (at least one must be a Malaysian resident)
- 1 – 50 shareholders (can be local or foreigner)
- 1 Company Secretary (if someone is a sole director, they cannot also be the company secretary)
- Minimum RM1 paid up capital
- A registered address in Malaysia
How long does it take to form a private limited company?
It usually takes about 1-3 working days to form a private limited company. If there is query from CCM, it might take a longer time.
Can a foreigner form a private limited company in Malaysia?
Yes, as long as he/she fulfils the requirements of every company must have at least one local resident director.
How many shares should I have?
You can have as many or as few shares as you wish, although you need a minimum of at least one share. If you do not know how many you need, we recommend one share per dollar of capital.
Why do you ask me to provide 3 company names?
We ask for three names as a worst case scenario in the event that your first choice is no longer available, unacceptable or too similar to that of an already established company.
What are the guidelines for naming a Malaysia company?
Please refer to the Guidelines from CCM.
What does the incorporation package include?
Awesome Bundle includes company incorporation and company secretarial services with a lock-in period of 2 years, and it is inclusive of the following:-
(i) Name reservations (RM50.00 each);
(ii) Registration fees payable to CCM (RM1,010.00); and
(iv) Certificate of Incorporation [Form S17].
If you’re ready, please sign up here.
How do you charge your fees and how can we make payment?
Our fees are charged annually in advance at the start of date of incorporation or date of appointment as your company secretary. There are few options for you to make payment:
(i) Online payment via bank transfer/telegraphic transfer/DuitNow/JomPAY;
(ii) Direct bank-in; or
(iii) Cheque payment.
What should I do next after the company is incorporated?
- Appoint a company secretary within 30 days from the date of incorporation
- Open a bank account
- Register with KWSP, PERKESO, LHDN, Customs etc, where applicable
Why do you ask me for proof of address?
This is to ensure that all directors/shareholders are contactable and most importantly it is for due diligence checking purposes.
I am currently registered as a sole proprietorship - what is the process to convert to a private limited company?
Please write to us at [email protected] and we’ll help you on setting up your private limited company.
Setting up from overseas
Can a foreign individual or foreign company be 100% shareholder?
Yes! There are no restrictions of foreign ownership when setting up your company.
Does a foreigner need to visit Malaysia to establish a company?
No, you can incorporate a company completely online without ever visiting Malaysia. However, if you would like to do business in Malaysia and want to set up a Malaysia bank account, banks generally require the director to be present.
Do I need a local director?
Yes, there is a requirement to have at least one director who is residing in Malaysia.
Is there anyone else I need to appoint?
Yes, every company is required to appoint a company secretary within 30 days after incorporation. If you just have your company incorporated and still looking for company secretary, why not engage TrustMaven? We are a team of experienced corporate secretary who will take care of your compliance and governance matters of your company. Sign up now for our corporate secretarial services and you’re entitled for a FREE 6 months of secretarial services. Learn more here.
What type of business address is required?
A local registered address is one of the minimum requirements for opening a company in Malaysia. The registered address must be a physical address in Malaysia (a physical location and not PO Box). If you engage us as your company secretary, our office address can be the registered address for your company.
Who can be a director?
A director shall be a natural person who is at least 18 years old and at least one director of the company shall ordinarily reside in Malaysia by having a principal place of residence in Malaysia.
Can a foreigner be a director?
Yes, as long as he fulfils the requirements of the director.
Who can become a Company Secretary of a company?
- A member of a professional body which include MAICSA, MIA, Malaysian Bar, MACS, MICPA, Sabah Law Association and Advocates Association of Sarawak.
- A person licensed by the Companies Commission of Malaysia (LS)
- Not a discharged bankrupt and not convicted of any offence under the Companies Act 2016
What are the roles of a Company Secretary?
Here are the responsibilities of a Company Secretary at one glance:
- Company formation and registration
- Establishing and maintaining up-to-date of statutory records
- Monitoring and ensuring compliance with the Companies Act 2016 and other regulatory requirements
- Preparation of minutes, board resolutions, filing of annual return or forms to the CCM
- Organising board and members’ meeting
Read more here.
What is TrustMaven and why should I engage them?
We are a team of professional and experienced Chartered Secretaries. With our smart platform, we strive to provide you with better efficiency, more insights and full control on your company’s compliance matters.
Learn more to know what we can do for you.
Is TrustMaven secure?
Yes, all data are securely stored with encryption system and backup on every 24 hours basis.
What are your terms and conditions?
Please refer to our service terms here.
Who can I talk to if I have questions?
If you still have questions after reading our FAQs, you may email us your message to [email protected] or call +60193553113 / +60133341494 and our experts (real humans) will get in touch with you personally.
Who are the company secretaries handling my company?
You can view the details of your appointed company secretaries on TrustMaven platform (coming soon). Learn more about us here.