Business Registration – A Legal Requirement
You are required to register your business with the Companies Commission of Malaysia (CCM) under the Companies Act 1965 and the Registration of Businesses Act 1956. There are three forms of business: Sole proprietorship, partnership and limited company.
Types of Company formation in Malaysia
• Businesses that can be registered under the Registration of Businesses Act 1956 at the Commission of Companies Malaysia are:
i. Sole proprietorship – a business wholly owned by a single owner
ii. Partnership – business owned by two persons and not more than 20 partners.
• Limited Companies are incorporated under the Companies
Act 1965, enforced by the Commission of Companies Malaysia.
General Guidelines for Business Registration
a. Citizens and permanent residents of Malaysia aged 18 and above may register a business.
b. Register the business within 30 days from the date of commencement of the business.
c. The nature of the registered business should not contravene any laws.
d. Submit a copy of permit, license, letter of approval or supporting letter when registering a business that requires special consent or approval.
e. Submit application for registration personally to the nearest office of the Companies Commission or send by post.
f. Attach the following documents:
• Photocopy of Identity Card
• Photocopy of Partnership Agreement (if any)
• Permit, Licence, Letter Approval or Supporting Letter from another agency (if any)