Minimum one resident director, Minimum one shareholder (Malaysian/Foreigner/Body Corporate), Minimum one Company Secretary who is certified and licensed under the Companies Commission of Malaysia, Minimum capital to be RM1.00
Yes, it is completely legal. Our company secretaries are licensed and compliant with the requirements set by the SSM. Our team of experts will manage the company incorporation for you via MyCoID portal, so you do not have to visit the SSM counter for identity verification purposes.
A director shall be a natural person who is at least 18 years old, shall not be bankrupt and have not been convicted of an offence in relation to the promotion, formation, management of a corporation, bribery, fraud or dishonesty.
After your Sdn. Bhd. is registered, with Altomate appointed as the company secretary, you will receive an email or you can select “bank account opening” in service request in our platform and choose the bank and fill up the details for account opening. We will prepare all documents required and a banker (of our panel banks) will schedule an appointment with you to open a business bank account.
Below are some general tax compliance obligations of a Company:
Corporate tax -A Company is required to submit tax estimate (Form CP204) not later than 30 days before the beginning of the basis period (SMEs exempted from first 2 years CP204 filing) -A Company is required to lodge the tax return (Form C), within 7 months from the financial year-end.
Employer tax -A Company is required to file Employer Tax Return (Form E), stating summary of employee remuneration by 31st March of following calendar year
Withholding tax -A Company is required to deduct withhold taxes and remit to the tax office within 30 days, in making certain payments (e.g. royalty, interest and etc) to a non-resident person
Sale and service tax -A Company (a manufacturer or a service provider) is liable to register for SST if providing taxable goods or services, exceeding certain prescribed threshold
Once you submit your incorporation form and made the payment, the amount paid is strictly non-refundable. If your company has been registered with SSM, you will need to prepare further cost to strike-off/deregister with SSM.
As you enjoy the incorporation at a discounted price of RM999 (instead of usual price RM1,599), you are required to sign up for 2 years contract for company secretarial package with us. In the event if you wish to terminate the contract earlier and transfer to other company secretary, you are required to pay termination charge of RM1,000 for early termination.