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Whether thinking about holiday destination, making your second home or opening an investment company, you cannot ignore Malaysia in modern trade market. This southeastern country seems to be in a mission to break all their own previous records in field of entertainment, social stability and business developments. However, Malaysia is now focusing more on business developments and infrastructure strengthening. With that in mind this country liberalized local as well as foreign investment fields. This perused many local and global investors to open an investment company in Malaysia.
With all this development in mind, business market got a great push forward and established a diversified corporate environment in Malaysia. The economic progress turned out so well that even the World Bank noticed this continuous progress in an annual basis and ranked Malaysia at 24th position among 100 other nations, for most favorable country to start businesses. This sums up to a conclusion that Malaysia favorable for starting a business, however doing business in this nation requires some strict governmental and corporate rules and regulations to start a company. This article has been written in this particular topic.
The topic that describes exactly how to open an investment company in Malaysia. Excited to get few good tips regarding the process of opening an investment company in this nation? Stay tuned and read this article till the end to learn all about opening such business in Malaysia.
The reason for such fair positioning given by World Bank is the convenience of Doing Business. Despite having several trade laws and regulation that an investor must abide if want to conduct business here, the regulations are pretty straight forward and linear. Moreover, in most cases the journey for company registration is comparatively easy when you have proper idea about how to begin a business in this land.
If you are new at investments in this country, it is advisable to hire a business counselor who have proper knowledge on local company enlistment process. You should discuss and get proper consultation regarding dos and don’ts of initiating any business in Malaysia. They will also assist you in processing legal paperwork and guide you in a step by step process in every business registration procedure. Now Let’s see what it needs to open an investment company in Malaysia.
A Unique Name for your company
Propose a name for your company which will initially pursue potential clients to carry out investment and financial deals with your company. However, submitting at least three company names is advised, as a single name may get cancelled due to company name duplication issue. Having multiple options minimize such issue. To avoid such adverse scenario, you need to conduct an online search and see the availability of your chosen name. You can even take an appointment with the secretary of the state to get advices and recommendations regarding your company name registration process in that particular state of Malaysia. Once name submitted, the company registration authority of Malaysia also known as the SSM will verify your proposed application. The approval of the company name typically takes up to 2 working days. Additionally, to receive this particular service, you have to pay a fixed governmental charge.
Plan Out a Strong Business Scheme
A strong business scheme counts out to be the base pillar of your company. Without proper planning, you cannot move too far and buildup a company or even proceed systematically with your business. Your business planning must include a good marketing plan. Business products, ultimate aim and goals, and finally, a strategy to roll out the business throughout the market. Once you have a clear aim about all these factors, you are now ready to think clearly about how your company products would be developed. Such planning will eventually help you in every step of dealing with potential clients and competitors and will stick you to the core track of the company.
Appoint A Company Secretary
When you have a strong plan in your pallet, you need to hire a company secretary to work out with your investment company registration process in Malaysia. The secretary represents the company at the initial stage and acts as a liaison between the company and government bodies involved in company formation process. The hired secretary also deals with company auditing and preparing and resolving any issues in MoA, AoA or other registration forms. A secretary also has the responsibilities to make various appointments and meetings and new shareholders and staff recruitments when and where necessary.
Company incorporation process in state
By this time, you have reached to an advanced level of the business formation process. You are determined to set up the company in Malaysia. This calls for a proper company incorporation process. To incorporate an investment company in Malaysia, you first need to consult the secretary of the state. This is compulsory when you are setting up your company in a particular state of Malaysia.
Here you have to come up with proper documents and application procedures. One of such documents is article of incorporation for your investment company. This along with other necessary company formation paperwork has to be submitted to the secretary of the state along with fixed recommended government fees.
Register with the SEC and IARD
The next step of the registration process is Registering with the SEC, also called Securities and Exchange Commission of Malaysia. Whether it is the investment company or any other company registration process, when incorporating a company in Malaysia, you need to be scrutinized thoroughly by the SEC.
SEC monitors all the registration procedures and even deals with all the form and company shareholder verifications at a particular time frame. You additionally need to carry out registration with the IARD or Investment Advisor Registration Depository. This is compulsory for every investment firm and has to be registered with the SEC. The application here can be submitted online, once filled up accordingly.
Make a bank account available for your new investment company
A proper registration process of your investment business in Malaysia demands to open a bank account for the company. Such account needs to be distinguished and used for all relevant monetary transactions relevant to your company only. All local and international banks are standby to open an account for starting an investment company in Malaysia.
However, there are few rumors that local banks often get complicated when opening such account. Therefore, you can easily go for the international banks to open bank account for your investment company. You need to come up with all valid papers and photographs recommended by the bank once ready to open the account for your company.
The company formation process changes with time and nation’s demand. Moreover, the alteration is inevitable from one state to the another in Malaysia. It is necessary to obey the state compliances to setup the company.
Therefore, when you are up for opening an investment company in Malaysia, be aware of the state rules and norms. Follow the core governmental process to step up smoothly with your investments in the Malaysian market.