SSM Enterprise Registration And Renewal
The SSM (Suruhanjaya Syarikat Malaysia) Enterprise Registration and Renewal process enables businesses in Malaysia to register and renew their enterprises, ensuring compliance with local laws. Registration requires submitting identification and business details for a Certificate of Registration. For renewal, enterprises must file the necessary documents and fees before expiration to maintain their legal status, ensuring formal recognition and legal operation.
What is SSM Enterprise
An SSM Enterprise is a business structure in Malaysia that operates similarly to a sole proprietorship. It allows an individual to run a business under their name or a registered business name without the need for extensive regulatory requirements. The owner enjoys full control over the business and retains all profits, but they are also personally liable for any debts or obligations incurred by the enterprise.
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If there is more than one owner, the business is classified as a partnership. In this case, two or more individuals can collaborate under a single enterprise, sharing profits, responsibilities, and liabilities. Partnerships provide a more flexible management structure and allow partners to pool resources and expertise while still maintaining a simpler regulatory framework compared to companies.
Requirements for Registration
Citizenship
Applicants must be Malaysian citizens or, in the case of foreign entrepreneurs, possess the necessary visas or permits that allow them to conduct business in Malaysia.
Age
Applicants must be at least 18 years old to legally register a business in Malaysia.
Business Structure
Determine the type of business entity you wish to establish (e.g., sole proprietorship, partnership, or private limited company), as each structure has different legal requirements and implications.
Documentation
The documentation required for enterprise registration includes identification (NRIC or passport), a copy of the approved business name (if applicable), and specific registration forms based on the chosen business structure.
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What services does your company offer in Malaysia?We provide a comprehensive range of corporate secretarial services to help businesses meet all statutory and regulatory requirements. Our offerings include company incorporation, annual compliance filings, updating company records, managing board resolutions, and advisory on compliance with Malaysian laws. In addition, we assist with accounting and bookkeeping, tax filings, payroll services, and obtaining employment passes for foreign employees to ensure your business operates smoothly across all essential areas.
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Is it mandatory to have a company secretary in Malaysia?Yes, under the Malaysian Companies Act 2016, every company must appoint a qualified company secretary within 30 days of incorporation. The company secretary must be a licensed professional registered with the Companies Commission of Malaysia (SSM).
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Who can be a Company Secretary?In Malaysia, a Company Secretary must be a qualified individual who is either a member of a recognized professional body, such as the Malaysian Association of Company Secretaries (MACS), the Malaysian Institute of Chartered Secretaries and Administrators (MAICSA), the Institute of Chartered Secretaries and Administrators (ICSA), the Malaysian Institute of Accountants (MIA), or CPA Malaysia, or holds a license issued by the Companies Commission of Malaysia (SSM).
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Why should you outsource your Company Secretary services in Malaysia?Time & Resource Savings: Ensures that statutory and regulatory requirements are met by experienced professionals, freeing up valuable resources. Risk Reduction: Minimizes compliance risks and helps to avoid potential penalties. Administrative Efficiency: Manages complex administrative tasks, allowing business owners and directors to focus on growing the business. Access to Expertise: Provides access to a broad range of expertise, including legal and financial compliance. Enhanced Company Management: Supports efficient and compliant management of the company.
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What are the annual compliance requirements for a company in Malaysia?Malaysian companies must hold an Annual General Meeting (AGM), submit annual returns to SSM, and file audited financial statements. We assist with all annual compliance to ensure you meet your regulatory obligations.
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Can you assist with setting up a business bank account in Malaysia?Yes, we offer assistance with business bank account setup by providing necessary company documents, and we can guide you through the requirements of various banks.
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How much does it cost to hire a corporate secretary?The cost varies depending on the services you need. We offer competitive pricing with transparent fees for incorporation, annual filings, and additional services. Contact us for a customized quote based on your business needs.
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What happens if I don’t meet my compliance requirements?Failure to meet compliance requirements can result in penalties, fines, or, in severe cases, deregistration of your company. Our team ensures that your filings and other obligations are managed to avoid any compliance issues.
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How do I get started with your services?Getting started is easy! Simply contact us through our website or give us a call, and one of our corporate secretarial experts will guide you through the onboarding process.