Malaysian Trade Register
Updated on Saturday 06th August 2016
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All businesses set up in Malaysia have to register with the Malaysian Company Register, which is embodied by the Companies Commission of Malaysia (SSM), an authority acting under the Ministry of Domestic Trade. Our Malaysian lawyers can provide legal assistance connected to the requirements which have to be met by companies in this country.
Services of the Companies Commission of Malaysia
The SSM is an authority formed after the merger between the Registrar of Companies (ROC) and the Registrar of Businesses (ROB) in Malaysia which regulated companies and businesses. SSM started its operations in 2002.
The main services rendered by the SSM is to act as an agency for company incorporation and business registration, as well as to issue company and business data to the general public.
Also, the SSM is responsible for the registration of trading name, which takes place after several rules. It is advisable for the trading name to be made of up to 50 characters, including spaces. There are certain trading names which are not accepted, as ruled by the legislation in the country. Our lawyers in Malaysia can offer more details on this matter.
Company registration procedure in Malaysia
The first step in registering a company with the SSM is the proposal of a trading name, which takes place as described above. If it meets all the criteria, the trading name is approved by the SSM, after which the entrepreneurs, together with their Malaysian lawyers, can arrange the statutory documents of the business and establish the type of legal organization under which the company will undertake its activities.
Then, the company has to be registered with the local authorities for taxation and in order to be issued the trading license according to the domain in which it will conduct its operations. It is necessary to open a bank account where the shareholders can deposit the minimum capital required.
Foreign investors who need more detailed information on the Malaysian trade register are kindly asked to get in touch with our law firm in Malaysia for legal guidance and advice.