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FAQs
Our Corporate Company Secretary Services FAQs for your reference
What are the requirements to be a Director?
There are few requirements to be a Director company :
- Natural person
- Minimum aged of 18 and above
- He or she is not bankrupt and imprisoned
- He or she is not convicted whether within or outside Malaysia of any offence for the past 5 years
Can a foreigner set up a Company in Malaysia?
Yes! Foreigners are allow to setup or incorporate a Private Limited Company (Sdn Bhd) in Malaysia. The procedure of incorporation is same as the local.
However, please note that under Section 196(4) CA 2016 a Company must have a minimum number of directors that reside in Malaysia by having a principal place of residence in Malaysia. This section is mainly to ensure that there is a point of contact in Malaysia and the purposes of enforcement.
Ultimately, a Malaysia resident is refer to a citizen or a permanent resident of Malaysia or a person with employment pass
What are the requirements to incorporate a company in Malaysia?
Requirement to form a Sdn Bhd or private limited company are:
- A minimum of one director and one shareholder (for private company)
- A minimum of two directors and shareholders (for public company)
- A company secretary who is certified and licensed under Companies Commission of Malaysia (SSM) or prescribe body under Fourth Schedule – CA 2016
Can a foreigner become a Director for private limited company in Malaysia?
Any person aged above 18 years old can be appointed as director and before a person can be appointed as a director, he must lodge with SSM a statutory declaration (Section 201) declaring that he or she is qualified from being a director that:-
- Not an undischaged bankrupt;
- Not been convicted whether within or outside Malaysia of any offence (in connection with the promotion, formation or management of a corporation; involving fraud or dishonesty punishable on conviction with imprisonment for three months of more; or under section 213, 217, 218, 228 or 539, within a period of five years preceding the date of this declaration.
- Not been imprisoned for any offence referred to above within the period of five years immediately preceding the date of this declaration.
Refer : http://bit.ly/ccmssminfo
In short, a foreigner can be appointed as directors provided he is not disqualified from being a director.
How long it takes to incorporate Company in Malaysia?
As fast as 3 days!
Do note that, the incorporation timeline is very dependent to the completeness of the documents & information and also subject to the availability of the SSM’s online system.