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Private Limited Company (Sdn. Bhd.)

What is Private Limited Company (Sdn. Bhd.)?

Private Limited Company (Sdn. Bhd.) registration is one of the popular legal business structure option in Malaysia. Private Limited Company (Sdn. Bhd) is governed by Companies Commission of Malaysia (Suruhanjaya Syarikat Malaysia) and Companies Act 2016. To register a Private Limited Company (Sdn. Bhd.), a minimum 1 member (shareholder) and 1 director (ordinarily reside in Malaysia by having a principal place of residence in Malaysia) are required. A natural person can be both a director and shareholder, while a corporate legal entity can only be shareholder.
Unique features of a Private Limited Company (Sdn. Bhd.) like limited liability protection to shareholders and directors, lower income tax rate, corporate identity and branding, separate legal entity status and perpetual existence make it the most recommended type of business entity for millions of small and medium sized businesses.
 

Procedures for Private Limited Company (Sdn. Bhd.) Registration

Complete Our Form Conduct Name Search Sign Documents Your Company Is Ready
You need to fill our simple company registration application form and return to us with all partners I/C or passport We will check availability of your proposed company name with Companies Commission of Malaysia Once company name approved by Companies Commission of Malaysia, you need to visit our company, sign documents and make payment to us We will submit the signed documents to Companies Commission of Malaysia. Certificate (Section 17) will be issued by CCM and your Company is ready to go
START 2 WORKING DAYS 2 WORKING DAYS CONGRATULATIONS
 

Information Required for Private Limited Company Registration

  • Copy of all partners identity card (I/C) or passport (for foreign partner)
  • Proposed company name
  • Proposed business nature
  • Proposed address of the registered office (place to keep statutory documents)
  • Ordinary place of residence of every shareholder and director
  • Details of class and number of shares to be taken by every shareholder
 

Advantages of Private Limited Company (Sdn. Bhd.)

There are multiple reasons to choose private limited company:
Separate Legal Entity Owning Property Easy Transferability
Private Limited Company (Sdn. Bhd.) is a legal entity and a juristic person established under the Companies Act 2016. Hence, a company has a range of legal capacities including opening of a bank account, hiring of employees, taking on equity or obtaining licenses and more as an independent corporate entity. The members (Shareholders/Directors) of a company have no personal liability to the creditors of a company for company's debts. Private Limited Company (Sdn. Bhd.) being an artificial person, can acquire, own, enjoy and alienate, property in its name. The property owned by a company could be machinery, building, intangible assets, land, residential property, factory, etc., No shareholder can make a claim upon the property of the company - as long as the company is a going concern. Ownership of a business can be easily transferred in a company by transferring shares. The signing, filing and transfer of share transfer form and share certificates is sufficient to transfer ownership of a company. In a private limited company, the consent of other shareholders may be required to effect share transfers.
Uninterrupted Existence Borrowing Capacity Lower Income Tax Rate
Private Limited Company (Sdn. Bhd.) has 'perpetual succession', meaning uninterrupted existence until it is legally dissolved. A company being a separate legal person, is unaffected by the death or other departure of any member and continues to be in existence irrespective of the changes in ownership. Investors, Venture Capitals, Banks and Financial Institutions prefer to provide funding to a company rather than partnership firms or proprietary concerns. The highest income tax rate of Private Limited Company is 24% while highest income tax rate of individual can up to 28%. Distribution of income wisely may help in income tax saving.
 

Factors to Consider in Private Limited Company (Sdn. Bhd.) Name Selection

The name of your company is very important. It is the first impression to your buyers, suppliers and stakeholders. It should, therefore, be relevant, suggestive and attractive. There are various factors that you should keep in mind while naming for your company
Short & Simple
The name should be concise and not be too long. People should be able to pronounce it easily and they should be able to remember your company’s name the first time they hear or read it.
Meaningful
The name of your company should be related to your business. It should fit the company’s branding and corporate identity.
Unique
Name of your company should not be same or identical to an existing company or trademark. You can go to www.ssm-einfo.my to check if your company name is identical to others. You should ideally avoid plural or changing just letter Case, spacing or punctuation marks in an existing company name.
Suffix
The name of your company should end with the suffix “Sdn. Bhd.” in a case of a Limited Liability Partnership (PLT.) and “Sdn. Bhd.” is a case of a Private Limited Company (Sdn. Bhd.). and “PLT.” is a case of a limited liability partnership.
Should not be illegal / offensive
The name of your company should not be against law. It should not be abusive or against the customs and beliefs of any religion.
 

What We Can Help You?

We are one of the recognized accounting firm located at Johor Bahru and Penang, Malaysia that provide one-stop financial report compliance services, which includes bookkeeping, accounting, company secretarial services, tax preparation services, business consultancy and etc.
Our group of companies include licensed Secretarial Firm that registered with Chartered Secretaries Malaysia (MAICSA) in Johor Bahru and Penang. This allow company (e.g. Sdn. Bhd.) registered in Malaysia engage us as their company secretary to assist them in compliance with Malaysia statutory requirements.
Our experienced staff will assist client with:
  • Act as named company secretary for your company to communicate, prepare, submit of statutory returns with the Companies Commission of Malaysia (SSM) in compliance with statutory requirements under Companies Act 2016.
  • Prepare resolutions required by company board of directors and attend your board meeting if required.
  • Prepare your company financial report compliance with Malaysia rules and regulation, include GST, MPERS, MFRS and etc.
  • Provide professional advice related to your business set up, operation and Malaysia rules compliance, include company incorporation, accounting, payroll and etc.
Talk to Us Now
© Copyright 2018 L & CO.
Business Address:18A, Jalan Sasa 2,Taman Gaya,Ulu Tiram,Johor,81800,MY |Tel: 07 861 7402 |Email: liew@liew.com.my.
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L & Co Plt.

18A & 20, Jalan Sasa 2, Taman Gaya,
81800 Ulu Tiram, Johor, Malaysia.
Tel +607-859 0410
Fax +607-863 1003
Email liew@liew.my
 
     

What Our Client Say

     
L & Co always carry their services in professional way – well planning, in time, precise, friendly and professional. While we are stuck with problems, they can always advice us with industrial best practices and their views.
 
YM Tan
ICT Automation (M) Sdn Bhd
www.ict.com.my
 
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