Foundingbird logo

The Malaysian's guide for Sdn Bhd company registration

Contents

The guide that explains eligibility and documents needed together with the whole procedure of Sdn Bhd company registration with SSM through MyCoID portal.

Sdn Bhd is the most commonly established company registration type in Malaysia out of 6 types of company registration available on the SSM website where an average of 3,900 local companies is registered each month in 2019. Since the implementation of Companies Act 2016, the company registration of Sdn Bhd can be done online through the MyCoID portal.

Eligibility to form a Sdn Bhd company

At least 1 director who resides in Malaysia and 1 shareholder. The director and shareholder can be the same person. The director should be:

  • 18 years old and above
  • residing in Malaysia
  • not disqualified under Section 198 of Companies Act 2016

Documents needed

  • MyCard / Passport for MyCoID account validation
  • Authorization letter if your proposed company name contains controlled words or trademark

Payment required

Incorporation fee of RM1,010 (inclusive of tax)

Step-by-step procedure

MyCoID portal

1. Account registration on MyCoID portal

Register an account on the MyCoID portal as an individual user.

2. Account activation at SSM counter

Upon activating the account through email, you will receive another email with instructions to validate your registration at the nearest SSM counter.

3. Login credentials received through email

After SSM activated your account, you will receive an email to create login credentials on the MyCoID portal.

To get started with the company registration process, go to the Direct Incorporation Application on MyCoID portal homepage to carry out the Name Search by keying in the proposed company name that you want. * You will not be able to proceed if the proposed company name is taken, reserved by other people or contains prohibited words.

Other information under Name Search should be selected as follow to register a Sdn Bhd company:

  • Purpose: N - NEW INCORPORATION
  • Type: S - LIMITED BY SHARES
  • Company SubType: SDN. BHD.

6. Super Form to clarify your proposed company name

Next, you will be redirected to the Super Form where you clarify the meaning behind the proposed company name. If the proposed company name contains names of states, controlled words or trademark, you will have to attach an authorization letter from the respective authority or owner.

7. Business code selection and description

Then, select a business code that is related to your business, and provide the description together with the registered address and business address of the company.

8. Directors and shareholders information

You are automatically listed as a director and shareholder of the company, but you can add directors and shareholders in the next step. Besides that, state whether you have employees in the company under Information To Agency section.

9. Application submission

After reviewing the information on the preview page, submit the application and you will be redirected to the Transaction page.

10. Payment of incorporation fee

Make the payment of RM1,000 as an incorporation fee (before tax) and get a transaction receipt.

11. Notice of Registration as proof of incorporation received through email

You will receive the Notice of Registration as proof of incorporation through email within 1 business day if your company has been successfully registered. A Company Certificate can be purchased with a prescribed fee at the SSM counter if it is required. * You will be notified through email if the application is queried by SSM. The application can be edited and resubmitted again.

Extra:

Within 30 days of company registration, a company secretary shall be appointed. It can be done on the MyCoID portal. While it is not mandatory for a Sdn Bhd company to lodge a constitution of the company, it can be done on the MyCoID portal as well.

It is too much of a hassle to visit the SSM counter for MyCoID account validation?

Foundingbird - Your digital company secretary in Malaysia

On Foundingbird, you can skip the queue and inconvenience of having to visit a SSM counter for the account validation purpose. As a digital company secretary, we provide an online portal where you can carry out company registration for your Sdn Bhd company in a streamlined process fully online, from filling in your company information to e-KYC process for all directors and shareholders, all at your fingertips. Register your Sdn Bhd company now on Foundingbird website.

-------

Disclaimer: Information provided in this article is for general reference only. Please seek advice from company secretary, lawyer or other professionals according to your business's needs.