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Comoany Secretarial In Malaysia

Hi Friends,

I registered a company in SSM few months before and naturally obtained a secretarial company as well.
Due to have not find yet good location for shop to run my business in KL so definitely I didn't start my business but right now the secretarial company sent me the bill of their services ,I confused and rejected but they state either start business or not I have to pay their service fee to them.
Anybody has any information or help? THANK YOU SO MUCH

Yes, you must settle their bill and any fees involved right away.  They provided a service that you have requested. 

It is not their issue that you need to find some premises.

In fact did you tell them that you were going to open a shop?  I think there are a lot of restrictions and licences needed and I am surprised that they have not briefed you about the processes needed.

If you are a foreigner, you will also need a work permit. To get that you have to put up capital in your new company (RM500k if there are two foreign Directors and RM350k if the other Director is a Malaysian).

Even if you have incorporated a company, that no longer gives you the right to work in Malaysia, the rules changed about 5 years ago. 

It may be a good idea to check out all the steps to ensure you know what is needed.

You will also need to check if you have to pay the other Director a monthly salary?  You need to pay yourself RM5k per month and pay income tax on that amount. 

The company secretary can get your Tax File Number for you and sort out the payroll and paying the tax to HASIL every month, but they charge you for every bit of assistance they provide. As they know the ropes and the language, their help is quite useful.

This website has a lot of information about what is possible and how to do it:

http://malaysiabizadvisory.com/incorpor … y-sdn-bhd/

See this for info about shops:

http://malaysiabizadvisory.com/types-of … permitted/

thanks, yes I informed them until find a good location will not start business or opening bank account but they informed me you have to start business max after 16 months from company registration, is it right?

I never heard about any 16 month time frame and I do think it sounds a bit weird, why 16 months? If it was 12 or perhaps 18 months it would sound more reasonable to me.

But please take note of what Gravitas mentioned above regarding work permit. Registering a company and having a work permit are two different things in Malaysia, without being eligible for work permit you won't be able to run your business from Malaysia (legally).

Thanks , I have the work permit and the right figure is 18 months as you mentioned but I feel there is different between dormant and non-active company?

You cannot have a legal work permit with a dormant company.

Whole things sounds fishy to me!

I don't think you know what you have done and what you need to do.  The work permit should be in your passport.  You should pay the company secretary for their help.  Renting shoplots is going to get even more expensive after January 1 2014 so best to do a deal before then.

I heard that first you have to get a Company even Shelf Companies are available and can start a business right away even in 24 hours. So far as the work permit is concerned, I'm a little bit confused whether it is applied before Company Formation or after as my some of friend had obtained work permit after commencement of business.

Work permits are obtained after fully establishing the company and investing the capital required.  This has just risen to RM1million (before it was RM500k) for a 100% foreign owned company. The new rules will apply to all companies that have not been fully established and are trading.

Buying a shelf company is only buying an infrastructure for a business and a name.  It is not sufficient to own and run a business. The capital investment is still needed. When all formalities are complete and licences have been obtained, the work permit is the last step.

http://malaysiabizadvisory.com/malaysia … oreigners/

Yes, I think it is correct. Secretarial services are continuously being done even though the company has not started business.

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