Starting a business can be a daunting task. There are many things to consider – from the initial planning stages to the day-to-day tasks of running the business. But it can also be an incredibly rewarding experience, both financially and personally. If you're ready to start down the path of entrepreneurship in Malaysia, be sure to do your research and plan carefully.
From choosing an available trade name to applying for the general business licenses, it is crucial to settle the necessary procedures and paperwork in order to set up your new company. You'll also need to complete your business registration with the Suruhanjaya Syarikat Malaysia (SSM), the government agency responsible for incorporating companies in Malaysia.
You may either complete your application at the SSM Head office counter or online, whichever is more convenient for you. However, bear in mind that this is to be done within 30 days of your business commencement. In this article, we will outline the process for registering a business via the SSM official portal.
For starters, you will need to create an account as an ezBiz user in order to register your business. This will require details such as your National Registration Identity Card (NRIC), ID number and name as per NRIC. Once this part is completed, a reference number will be sent to you via email. You will need to upload the following documents to verify your account:
Both sides of your IC
A clear picture of you holding your IC at neck level
An official document that can be your passport, driving license, etc.
Have them prepared in advance so that you can complete your ezBiz account application successfully.
Once your account is created, you can then proceed to fill in the Business Registration Form A (Borang A) online. This will require the below information:
Commencement date of your business
Address of other branches (if any)
Information of owner and partners
Type of business carried out
Copy of a Partnership agreement (if any)
Ensure you have provided the requisite information to the SSM. Additionally, depending on your business type, you may need to provide documents such as a permit, license as well as supporting letter from the relevant agency if it is mandatory by the Registrar of Business.
Furthermore, there are fees to pay as part of your business registration in Malaysia. The price will be either RM30 using a personal name or RM60 using a trade name. Registration of branches will be RM5 each.
Once payment has been received, do keep a lookout for a notification from SSM confirming your business registration. You may obtain the Business Registration Certificate within one hour after payment.
Should you overlook the registration of your business, you may be fined up to RM50,000 and/or imprisoned for not more than two years. As such, it is imperative to register your business under SSM on time. For ideas on how to grow an enterprise in Malaysia, learn how you can build an effective digital marketing strategy, enhance your website’s performance and improve the user interface of your online store.