FAQs
Frequently Asked Questions
Common Questions
About Company Secretary
What are the requirements to set up a company (Sdn Bhd) in Malaysia?
To incorporate a Private Limited Company (Sdn. Bhd.), you need:
✅ At least one director (must be a Malaysian resident).
✅ At least one shareholder (can be an individual or corporate entity, local or foreign).
✅ A registered business address in Malaysia.
✅ A qualified company secretary (appointed within 30 days after incorporation).
✅ Minimum paid-up capital of RM1 (no maximum limit).
✅ At least one director (must be a Malaysian resident).
✅ At least one shareholder (can be an individual or corporate entity, local or foreign).
✅ A registered business address in Malaysia.
✅ A qualified company secretary (appointed within 30 days after incorporation).
✅ Minimum paid-up capital of RM1 (no maximum limit).
How long does it take to incorporate a company in Malaysia?
If all required documents are prepared correctly, a company can be incorporated within 3–7 working days upon submission to the Companies Commission of Malaysia (SSM). However, delays may occur if additional verification or approvals are needed.
At DSY Advisory, we ensure a smooth and fast incorporation process, handling all paperwork so you can focus on starting your business.
At DSY Advisory, we ensure a smooth and fast incorporation process, handling all paperwork so you can focus on starting your business.
What are the annual compliance requirements for a Sdn Bhd?
Every Sdn. Bhd. in Malaysia must fulfill these annual compliance obligations:
📌 File annual returns with SSM.
📌 Submit audited financial statements (unless exempted under the Small and Medium Enterprises (SME) criteria).
📌 Hold an Annual General Meeting (AGM) (if applicable).
📌 Maintain statutory records and update company changes (e.g., changes in directors, shareholders, or share capital).
Failing to comply may result in fines or penalties. DSY Advisory ensures your business stays compliant with all statutory requirements.
📌 File annual returns with SSM.
📌 Submit audited financial statements (unless exempted under the Small and Medium Enterprises (SME) criteria).
📌 Hold an Annual General Meeting (AGM) (if applicable).
📌 Maintain statutory records and update company changes (e.g., changes in directors, shareholders, or share capital).
Failing to comply may result in fines or penalties. DSY Advisory ensures your business stays compliant with all statutory requirements.
Do I need a local bank account for my business in Malaysia?
Yes, a business bank account is essential for operating a company in Malaysia. It allows you to:
💰 Receive and send payments professionally.
💰 Build financial credibility and transparency.
💰 Comply with tax and accounting regulations.
Different banks have varying requirements, but common documents include:
📌 Certificate of Incorporation.
📌 Board resolution authorizing account opening.
📌 Business profile and statutory documents.
📌 Passport/IC of directors and signatories.
At DSY Advisory, we assist business owners in choosing the right bank and preparing all required documents for a smooth account opening process.
💰 Receive and send payments professionally.
💰 Build financial credibility and transparency.
💰 Comply with tax and accounting regulations.
Different banks have varying requirements, but common documents include:
📌 Certificate of Incorporation.
📌 Board resolution authorizing account opening.
📌 Business profile and statutory documents.
📌 Passport/IC of directors and signatories.
At DSY Advisory, we assist business owners in choosing the right bank and preparing all required documents for a smooth account opening process.
What is a nominee director, and why do I need one?
A nominee director is a local Malaysian resident appointed to fulfill the statutory requirement for having at least one resident director in an Sdn. Bhd.
Foreign business owners who do not have a local director often use nominee director services to meet this requirement while maintaining full control of their company. DSY Advisory offers secure and trustworthy nominee director services while ensuring legal compliance.
Foreign business owners who do not have a local director often use nominee director services to meet this requirement while maintaining full control of their company. DSY Advisory offers secure and trustworthy nominee director services while ensuring legal compliance.
Do I need a company secretary if I’m a sole proprietor?
No, a company secretary is only required for Sdn. Bhd. (private limited companies), not sole proprietorships.
Can I change my company secretary later?
Yes, you can switch to a different company secretary by notifying SSM and updating your company records.
What happens if I don’t appoint a company secretary?
Failure to appoint a company secretary within 30 days of incorporation can lead to penalties and legal consequences.
Services Questions
Why Choose Us?
Why Choose DSY Advisory for Your Company Setup in Malaysia?
- Experienced and Qualified Team: Our team of experienced and qualified professionals has a deep understanding of Malaysian company law and regulations.
- Efficient and Cost-Effective Services: We provide efficient and cost-effective services to meet your needs and budget.
- Client-Centric Approach: We are committed to providing our clients with personalized attention and support.
- Multilingual Staff: Our staff is multilingual and can communicate with you in your preferred language.
- Comprehensive Services:
*End-to-end solutions for company setup and management
*One-stop shop for all your corporate needs
- Efficient and Cost-Effective Services: We provide efficient and cost-effective services to meet your needs and budget.
- Client-Centric Approach: We are committed to providing our clients with personalized attention and support.
- Multilingual Staff: Our staff is multilingual and can communicate with you in your preferred language.
- Comprehensive Services:
*End-to-end solutions for company setup and management
*One-stop shop for all your corporate needs
Can a foreigner open a corporate bank account in Malaysia?
Yes! However, you must have a properly incorporated Malaysian company and may need a resident director (depending on the business structure).
Can I open a business bank account before completing Malaysia company incorporation?
No. You must first register your company with SSM before applying for a business bank account.
What is the minimum deposit required?
Each bank has different requirements, but it typically ranges from RM1,000 to RM10,000, depending on the account type.
What is a shelf company?
A shelf company, also known as a ready-made or aged company, is a legally registered business entity that has remained dormant since its incorporation. These companies are "put on the shelf" to age and are later sold to individuals or businesses looking to bypass the initial setup phase and gain immediate operational status.
Why would someone purchase a shelf company?
Purchasing a shelf company offers several advantages:
Immediate Operation: Allows for quick commencement of business activities without waiting for the incorporation process.
Established History: Provides an appearance of longevity, which can enhance credibility with clients, investors, and financial institutions.
Access to Contracts and Financing: Some contracts or financial opportunities may require businesses to have a certain operational history, which a shelf company can provide.
These benefits make shelf companies an attractive option for entrepreneurs seeking a head start.
Immediate Operation: Allows for quick commencement of business activities without waiting for the incorporation process.
Established History: Provides an appearance of longevity, which can enhance credibility with clients, investors, and financial institutions.
Access to Contracts and Financing: Some contracts or financial opportunities may require businesses to have a certain operational history, which a shelf company can provide.
These benefits make shelf companies an attractive option for entrepreneurs seeking a head start.
How does a shelf company differ from a shell company?
While the terms are often confused, they refer to different concepts:
Shelf Company: A dormant company that has been legally registered but has never conducted business. It is kept "on the shelf" for future use or sale.
Shell Company: An entity that may have active operations but lacks significant assets or ongoing business activities. Shell companies are often used as vehicles for various financial maneuvers.
Understanding this distinction is crucial for making informed business decisions.
Shelf Company: A dormant company that has been legally registered but has never conducted business. It is kept "on the shelf" for future use or sale.
Shell Company: An entity that may have active operations but lacks significant assets or ongoing business activities. Shell companies are often used as vehicles for various financial maneuvers.
Understanding this distinction is crucial for making informed business decisions.
Are there any risks associated with purchasing a shelf company?
Yes, while shelf companies offer benefits, potential risks include:
Unknown Liabilities: Ensure the company has no prior debts or legal issues.
Regulatory Scrutiny: Authorities may scrutinize the use of shelf companies for illicit activities.
Misalignment with Business Needs: The existing structure of the shelf company may not align with your specific business requirements.
Conduct thorough due diligence to mitigate these risks.
Unknown Liabilities: Ensure the company has no prior debts or legal issues.
Regulatory Scrutiny: Authorities may scrutinize the use of shelf companies for illicit activities.
Misalignment with Business Needs: The existing structure of the shelf company may not align with your specific business requirements.
Conduct thorough due diligence to mitigate these risks.
Can I change the name and structure of a shelf company after purchase?
Yes, after acquiring a shelf company, you can:
Change the Company Name: Subject to approval by the relevant authorities to ensure the new name is unique and complies with regulations.
Appoint New Directors and Shareholders: Update the company's management and ownership structure as needed.
Alter the Business Activities: Modify the company's objectives to align with your intended operations.
These changes should be properly documented and filed with the appropriate regulatory bodies.
Change the Company Name: Subject to approval by the relevant authorities to ensure the new name is unique and complies with regulations.
Appoint New Directors and Shareholders: Update the company's management and ownership structure as needed.
Alter the Business Activities: Modify the company's objectives to align with your intended operations.
These changes should be properly documented and filed with the appropriate regulatory bodies.
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