Malaysia is one of the most dynamic business hubs among the ASEAN economies. As a multi-ethnic, multilingual and multicultural country, Malaysia company formation attracted much interest among international companies. Given the simplicity of company formation in Malaysia, the country has been able to capitalize on global developments and become one of the most attractive destinations to do business.
The requirements surrounding Malaysia company formation are among the most relaxed in the world. A minimum of one shareholder and one director is required with no restrictions being placed on that individual’s nationality. While only one director is required for company formation purposes, this individual must be a natural person who ordinarily resides in Malaysia. In respect of a company secretary, this position is required and the individual must be a permanent resident of Malaysia who ordinarily resides, and has their principal place of residence in the country. A local registered office address must also be obtained prior to the Malaysia company formation procedures.
There are limited annual maintenance requirements that must be adhered to. Private limited companies that has company formation in Malaysia must submit their annual return and financial statements to the Companies Commission of Malaysia on an annual basis.
For private limited companies, the formation process typically takes around 5 to 10 working days. However, this process may be extended depending on whether company formation requirements have been met and the accuracy of the information/documents provided.
To open a business bank account in Malaysia, the physical presence of the company director / authorized signatory is required. Many Malaysian banks impose this rule and some may even require a business to have obtained a physical office before processing an application.
Yes. Malaysia has extensive rules restricting a company’s name. Malaysian companies cannot have names related to any of the following: