What is the minimum number of resident directors required at incorporation?

A private company must have at least one director who ordinarily resides in Malaysia.

When must a company appoint its first company secretary?

A company must appoint a qualified company secretary within thirty days after incorporation.

What paid-up capital is required for a private company?

There is no statutory minimum paid-up capital required under the Companies Act 2016 for a private company.

How do you reserve a company name prior to incorporation?

The proposed name must be approved by SSM before incorporation via naming or direct process.

What is the registered office address requirement?

A company must have a registered Malaysian address where statutory records can be inspected.

Can one person act as sole director and sole shareholder?

Yes — one individual may serve as both the sole director and sole shareholder of a private company.

What are the key documents required at incorporation?

Incorporation requires approved name, detail of directors/shareholders, registered office and statutory declarations.

How long does the incorporation process take with correct documentation?

Typically incorporation may be completed within one to two working days if all documents are correct.

Are annual returns required immediately after incorporation?

Yes — the first annual return must be filed within thirty days of the company's incorporation anniversary.

When must a company file its first set of financial statements?

The first financial statements must be prepared within eighteen months from incorporation date.

Can a foreigner be a director in a Malaysian private company?

Yes — but at least one director must ordinarily reside in Malaysia under statutory requirement.

Is a constitution mandatory for a private company at incorporation?

A constitution is optional for a company limited by shares under the Companies Act 2016.

What happens if business activity requires government licence?

Relevant licences or approvals must be obtained before business operations commence post-incorporation.

Are statutory registers still required for newly incorporated companies?

Yes — every company must maintain statutory registers, records and minutes under Companies Act 2016.

Must the company update change of registered office address with SSM?

Yes — changes in registered office address must be notified to SSM within fourteen days.

When can a company commence business operations after incorporation?

Business may commence immediately once incorporation certificate is issued and approvals obtained.

What are directors' main statutory duties after incorporation?

Directors must act in the best interests of the company and comply with the Companies Act 2016.

Do newly incorporated companies still need to file tax registration with LHDN?

Yes — newly incorporated companies must register with LHDN and comply with corporate tax obligations.

Are there fees for incorporating a company limited by shares?

The prescribed incorporation fee is RM1,000 for a company limited by shares under SSM guidelines.

Where can I find official guidance for company incorporation?

Official guidance is available via SSM's "Guide to Incorporation of a Local Company" document.

Minimum directors required before incorporation?

At least one resident director is required to incorporate a private company in Malaysia.

Who can apply for a company name reservation?

Any individual intending to incorporate can submit a name reservation application to SSM online.

How to choose company type before incorporation?

Decide whether to register as private, public, or limited liability based on intended business activities.

Paid-up capital requirement before incorporation?

Minimum paid-up capital is typically RM1, but higher amounts may be stated in incorporation documents.

Documents needed for incorporation submission?

Submit name approval, directors/shareholders details, statutory declarations, and registered office address.

Can foreigners apply to incorporate a company?

Foreigners may incorporate, but at least one director must be ordinarily resident in Malaysia.

Is a company secretary required at incorporation?

Yes, a qualified company secretary must be appointed within thirty days of incorporation.

How long does name approval process take?

Name approval typically takes one to two working days if the proposed name complies with regulations.

Can a sole shareholder incorporate a company?

Yes, a private company can be incorporated with a single shareholder and single director.

Are there fees for incorporation application?

The standard incorporation fee is RM1,000 for private companies limited by shares with SSM.

Can the company start business immediately after incorporation?

Business may commence once incorporation certificate and necessary approvals are obtained.

How to ensure proposed name is compliant?

Name must avoid restricted words and not duplicate existing registered company names.

Are statutory registers needed before incorporation?

Statutory registers are maintained post-incorporation; pre-incorporation planning helps compliance readiness.

Do I need to prepare company constitution before incorporation?

Constitution is optional; default provisions under Companies Act 2016 apply if not submitted.

Must proposed directors be Malaysian residents?

At least one director must ordinarily reside in Malaysia; others can be foreigners.

When to register for taxes with LHDN?

Newly incorporated companies must register for corporate tax obligations after receiving incorporation certificate.

Do some business activities need licences before incorporation?

Certain regulated activities require approval or licence before business operations commence.

How to select business activity code (MBD/NAICS)?

Choose appropriate code matching intended operations to include in incorporation documents.

Are there restrictions on company name usage?

Name must not infringe trademarks, resemble government bodies, or mislead public perception.

Where to find official incorporation guidance?

Guidance available from SSM’s “Guide to Incorporation of a Local Company” and regulatory websites.

What is audit-exemption eligibility for low-volume companies?

Eligible private companies may claim audit exemption if they meet phased thresholds under SSM PD10/2024 directive.

What turnover threshold applies in phase-one (2025)?

For financial years starting 2025, turnover below RM1,000,000 qualifies under SSM’s audit-exemption practice directive.

What asset threshold applies in phase-one (2025)?

Companies with total assets below RM1,000,000 for 2025 financial period qualify for audit exemption status.

What employee count threshold applies in phase-one (2025)?

To qualify, companies must employ ten or fewer staff by year-end per audit exemption criteria 2025.

Do low-volume companies still need to lodge Annual Returns with SSM?

Yes, all companies regardless of volume must file Annual Returns within thirty days after incorporation anniversary.

Must low-volume companies maintain statutory registers and minutes?

Yes, even exempted companies must maintain proper registers, records, and minutes per Companies Act 2016.

Do low-volume companies still need a company secretary?

Yes, a qualified company secretary must be appointed within thirty days of incorporation per statutory law.

Can a low-volume company have one director and one shareholder?

Yes, one individual may serve both roles provided the director resides ordinarily in Malaysia per SSM.

If contract or bank requires audited accounts, can exemption be ignored?

Yes, companies must comply with contractual or financing audit requirements even if SSM exemption applies.

If thresholds change mid-year, does exemption immediately cease?

Yes, once a company exceeds any criteria, it loses audit exemption for that financial year automatically.

Are public or listed companies eligible for the low-volume exemption?

No, only private companies registered under Companies Act 2016 may qualify for audit exemption status.

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scan_001.pdf

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Still not sure if this is for you?

Newly Incorporated

To-be Incorporated

Dormant

Low Volume

Frequently Asked Questions

Why choose Zentrusted?

What do I get with Managed Accounting?

Who handles my accounts?

What billing option do you have?

Do I need to call you every time I need accounting information?

Are you really the lowest cost in the market?

Who needs our services?

How do I know which package is right for me?

Are you just using AI to do my accounts?

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What do you get for this price?

Bookkeeping

Standard Reports

Organized Cloud Document Storage

Powered by TAB Agentic Expert

Dedicated Support & Peace of Mind

Still not sure if this is for you?

Newly Incorporated

To-be Incorporated

Dormant

Low Volume

Frequently Asked Questions

Why choose Zentrusted?

What do I get with Managed Accounting?

Who handles my accounts?

What billing option do you have?

Do I need to call you every time I need accounting information?

Are you really the lowest cost in the market?

Who needs our services?

How do I know which package is right for me?

Are you just using AI to do my accounts?

Lowest Price Guarantee

Bookkeeping & Accounting
from only RM12.50/month — 100%
Transparent Pricing

RM 39
RM 29

RM 59
RM 39

RM 99
RM 69

RM 199
RM 129

Powered by
TAB Agentic Expert