How To Register A Company At SSM Penang
You can use this guide to understand how you can register a company in Penang, Malaysia. If you planning to start a business, regardless if it’s a sole proprietorship, partnership or private limited company, we urge you to register a company at the very first stage. This is to avoid future troubles from the government bodies.
Registering A Company in Penang SSM
Today’s guide will be a focus on how to register a company in Penang only. Without further ado, let’s first know what is SSM.
What is Registrar of Companies Malaysia?
The Companies Commission of Malaysia (Malay: Suruhanjaya Syarikat Malaysia), abbreviated SSM, is a statutory body formed under an Act of Parliament that regulates corporate and business affairs in Malaysia. The SSM was formed in 2002 under the Companies Commission of Malaysia Act 2001, assuming the functions of the Registrar of Companies and Registry of Business.
Note: Every founder have to go to the Penang SSM Office to register your company.
Step 1: Go To SSM Office Penang
Address: 3009 Tingkat 6 dan 7, Bangunan KWSP, Lebuh Tenggiri 2, 13700 Seberang Jaya, Pulau Pinang
Operating hours: 8:15am – 4:15pm (Mon – Fri)
Tel: 04-397 7793
Step 2: Choose Your Business Name
Look for 3 names that are best for your company.
Step 3: Ready To Register The Company
Once your trade name is confirmed, you are now ready to register the company.
Registering a Sdn Bhd Company in Malaysia [FAQs & Answers]
Here are some basic facts and useful information for setting up and forming a limited company (Sdn Bhd) in Malaysia.
- Copy of your identity card (IC) or copy of your passport (for foreign director)
- Every company needs at least 1 directors who is at least 18 years of age and are residing in Malaysia.
- He/she is not bankrupt and has not been convicted and imprisoned for a period of past 5 years.
- Every company needs at least 1 shareholder who is at least 18 years of age.
Company Secretary requirements
- A company must have at least one Company Secretary
- The company secretary must be a member of any one of the prescribed professional bodies or licensed by the SSM.
Registered office requirements
- Every company must have a registered office in Malaysia to which all communications and notices may be addressed.
- It is normal practice in Malaysia to have the secretarial office as the registered office of the company.
Accounts and Audit
- Every company is required to prepare its accounts and to be audited by approved auditors in Malaysia every year.
- A company must appoint one or more auditors who must be approved auditors in Malaysia.
- The audited accounts must be tabled at the AGM for adoption/approval by the shareholders of the company.
- This audited account is required to be lodged with SSM, together with the Annual Returns
If you’re starting a company, chances are you need a secretary firms to audit your accounts. Dear readers, if you know any audits firm in Penang that’s good for other readers, please share with us in the comment section below.