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We’ve covered company registrations in Malaysia before, but what about the registration of an enterprise? To begin with, it would be best to define what an enterprise is, and how it differs from a company.
If you would like to know more about company registration in Malaysia, do take a look at our article here.
An enterprise can be defined as a business organization whose ultimate goal is profit maximization. A company differs to an enterprise in the sense that companies do not always have a profit maximization motive. Some companies such as NGOs and charity organizations have different motives to meet. Thus, an enterprise can be a company, but not all companies are enterprises.
If you’re a foreign national looking for the perfect place to register your enterprise, Malaysia could be your best option. The largest country in Southeast Asia, Malaysia offers many opportunities for new and old entrepreneurs alike. With a dynamic mix of nature and bustling cities, Malaysia ensures you will always have a fresh customer base pouring in.
If you’re in need of any help regarding registering your enterprise in Malaysia, do contact us here at S&F Consulting. We at S&F Consulting are a business consulting group. We strive to make your registration process as simple and clean as possible. As officially registered agents in Malaysia, we are more than qualified to act on your behalf for anything that needs to be done. So, you may just sit back and relax. In the meantime, we have prepared a summary of events that will occur during the registration process. You may use this as a guideline or an overview of what your business registration will entail for you.
It is to be noted that the Companies Commission of Malaysia, or in BM, the SSM (Suruhanjaya Syarikat Malaysia) enforces the Companies Act. This means that all proceedings regarding your business registration will occur under this body. The SSM is the authoritative body that looks over all affairs with regards to businesses and companies in Malaysia. This is a merging body formed in 2002 between the two prior different bodies; the Registrar of Companies and the Registrar of Businesses.
If you would like to have more information about the SSM, do take a look at our article here.
To register an enterprise, you will have to follow the process outlined for a sole proprietorship.
If you are not a Malaysian national, you will have to be a permanent resident of Malaysia to register for a sole proprietorship. You will also have to be above the age of 18 to register for this.
Steps to registering your enterprise in Malaysia.
Registering an enterprise in Malaysia is a fairly simple process. This only requires two major steps in total.
Step 1- Preparation of documents
Firstly, you will have to submit the following documents along with a completed application form to the Registrar of Businesses.
Step 2- Register your official business name
Next you will have to complete the form PNA.42, which is the Business Name Approval Form. Along with this you need to submit at least three potential names for the Registrar of businesses to choose from. This form will have to filled with the following details:
Do note, if you are to have a different trade name to the name listed on your identification document, you will require prior approval from the Registrar of Businesses.
As you can see, the process towards registering an enterprise in Malaysia is very simple. However, if you have any doubts or additional queries, do contact our friendly team of customer service staff. They are online 24/7 and will be more than happy to assist you and put your mind at ease.
Frequently Asked Questions
How much will this process cost me?
The SSM office usually imposes a processing fee of RM 30 to RM 100. This fee varies depending on your company’s name.
What are the repercussions if I don’t register my enterprise?
If you do not legally register your enterprise, you could face legal action being taken against you. This could be either a fine of up to RM 50,000 or a prison sentence of two years.
Why should I choose S & F Consulting?
S & F Consulting is a business consultancy group. If you’re a foreign national looking to establish your company in the country of your choice, we are here to help you. With over 7 years of successful business registrations, our priority is your happiness. So, with whatever need you may have, do consider coming to us.