The Companies Commission of Malaysia is the statutory organisation established by an Act of Parliament charged with overseeing the country’s corporations and commercial activities. Locals refer to the new company registration Commission of Malaysia as SSM, an abbreviation of the Malay term Suruhanjaya Syarikat Malaysia.
In Malaysia, a new company registration may be registered with the SSM using either the owner’s given name or a chosen business name. A separate application for a company name is not required if the individual is establishing a business using a personal name (such as the name on their official government-issued identification card).
In order to register new business under a trade name, the Registrar of Businesses must first approve the proposed name. Once the name is accepted, the following procedures must be completed to new business registration with SSM:
The applicant has to fulfil the following criteria in register new company in Malaysia:
In Malaysia, the time to register new company is one year, while the maximum duration of validity for a registration is five years. It is important to note that even after registering with the SSM, individuals are still responsible for obtaining any necessary licences, permissions, or approval letters from other applicable authorities.
The words “Sendirian Berhad” or “Sdn. Bhd.” appended to the end of a business’s name indicates that it is a private company, whereas the words “Berhad” or “Bhd.” appended to the end of a company’s name indicates that it is a public corporation.
For all intents and purposes, an unlimited company is a firm limited only by its articles of formation, much as a business limited by shares. The Constitution (previously the Memorandum and Articles of Association) of an unlimited business must explicitly specify that the liability of its members is limitless.
When you’re ready to take on the task of starting a company from scratch, it’s time to look into SDN/ BHD Registration. It’s not enough to just understand how to register your SDN BHD; you also need a well-thought-out company strategy. It ought to be exhaustive in scope and well researched. It ought to have everything you might possibly need to run your business included in it.
When developing a company strategy, it is crucial to know not just SDN BHD Registration but also your potential competitors. It has to be something that sets your organisation apart from the competition. It’s important to consider the available resources and time limit while establishing corporate objectives. You need to know who you’re selling to so you can better serve them.
The aforementioned are just a few of the many things to keep in mind. As a business owner, you should also play it safe when predicting your income. Therefore, it’s important to be cautious when making predictions about future expansion. Besides register new company requirements, you should be able to set reasonable expectations of how to run the business.
An easier path with lesser chances of failure is to seek our professional help with registering your business. Contact us today!