Today I am very happy to announce that we have a new service. A partnership with one of the leading agencies in Malaysia. A new opportunity for e-commerce business, if you are planning to set up a company in Malaysia, where I mentioned in our previous podcast – if you are looking for a free trade zone, then this is the best place for you.
I will be discussing here a Company registry in Malaysia. Why choose to set up a company in Malaysia?
The Companies Commission of Malaysia (SSM) is a statutory body formed as a result of a merger between the Registrar of Companies (ROC) and the Registrar of Businesses (ROB) in Malaysia which regulates companies and businesses. SSM came into operation on 16 April 2002.
The main activity of SSM is to serve as an agency to incorporate companies and register businesses as well as to provide company and business information to the public. As the leading authority for the improvement of corporate governance, SSM fulfils its function to ensure compliance with business registration and corporate legislation through comprehensive enforcement and monitoring activities so as to sustain positive developments in the corporate and business sectors of the Nation.
- Registration of Business
- Registration of Company
- Limited Liability of Partnership
What is EzBiz ?
- EzBiz is an online business registration provided by SSM to allow user to do new registration, to register changes, to terminate and purchase business information.
- Alternative way “over-the-counter” transactions which is simple, quick and hassle free.
- Available 24 hours a day, 7 days a week by accessing www.ezbiz.ssm.com.my. – you may send us an e-mail for more information
- Registration of Business Guidelines
- 1. Registration of Business Name
The name of a business is the title that is used as an identification or introduction of the business.
The name of a business can be categorized into two: Personal Name or Trade name
- Personal Name :Uses the name in the identity card. This category does not need to be reviewed for approval. Because you already used your own name and your identity card will be the proof of identity.
- Trade name : The proposed business name needs prior approval of the Registrar of Business, Companies Commission of Malaysia (SSM).
- GUIDELINES FOR REGISTRATION OF NEW BUSINESS Business includes every form of trade, commerce, craftsmanship, calling, profession or other activity carried on for the purposes of gain, but does not include any office or employment or any charitable undertaking or any occupation specified in the schedule under the provisions of the Business Registration Act 1956 (ROBA 1956). Business that may be registered under the ROBA 1956 is a business operating in West Malaysia which includes Peninsular Malaysia and the Federal Territory. The types of business are as follows:
- Sole Proprietorship – a business wholly owned by a single owner
- Partnership – a business owned by at least two (2) persons and not more than twenty (20) partners.
- GUIDELINES FOR CHANGES IN BUSINESS PARTICULAR Changes of business particular can be registered by submitting form of Changes of Business Particular (Form B). Changes of business particular can be registered are as follows:
- Changes of Business Address
- Changes of Business Type
- Changes of Particulars on Branches
- Changes of Information of Owner or Partner/s
- GUIDELINES FOR RENEWAL OF BUSINESS REGISTRATION Registered business is required to renew the business registration certificate by submitting the Application for Renewal of Business Registration. (FORM A1)
- GUIDELINES ON TERMINATION OF BUSINESS Business may be terminated for the following reasons:
- Cessation of the business
- Death of the owner
- Pursuant to Court Order
What is the responsibility of the business owner?
- Register the business within 30 days from the commencement date of the business by submitting Business Registration Form (Form A).
- Renew your business registration within 30 days before the expiration date of the registration or previous renewal by submitting an Application for Renewal of Business Registration (Form A1). 3. Register business changes within 30 days from the date of change of main address, nature of business, branch address and owner information by submitting a Registration of Changes (Form B).
- Notification of termination of business within 30 days from the date of termination of business operation or due to death within 4 months of death by submitting a Notification of Termination of Registered Business (Form C).
- Displaying Business Registration Certificate in a conspicuous place at the main business premises or branch.
- Put a signboard displaying business name outside the business premises, and if there is more than one place of business, outside of each place of business
- Display business name and registration certificate number on letterhead, invoice, bill and other business documents.
- Obtain the appropriate license, permit, or letter of authorization from the relevant authorities of the type of business requiring prior approval even if the business has been registered with SSM.