How to Register SSM Malaysia: Everything You Need to Know

If you’re looking on how to register SSM online in Malaysia, don’t worry. This article got you covered. Registering your own company in Malaysia is not complicated, you just need to follow a few simple steps to get your company registered under Suruhanjaya Syarikat Malaysia (SSM).

All businesses registered in Malaysia are required to go through the companies commission of Malaysia, which is the statutory body formed under the Act of Parliament that regulates the corporate bodies and business affairs in Malaysia. The Companies Commission of Malaysia is known locally by the Malay variation of its name, which is Suruhanjaya Syarikat Malaysia, hence the commonly known SSM.

This article created this guide on how to register for SSM online in Malaysia with all the information you’ll need to get through the process quickly and easily. It includes step by step instructions, tips, and links that will help make your registration go smoothly.

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How to Register With SSM?

As mentioned, registering your own company in Malaysia is not very complicated. Although there are a few official forms to take note of. This article will help you out with how to do business registration Malaysia.

Think of a Name to Register Your Business

You may register your business with your personal name or your trade name. If you’re planning to use your personal name to register, the name stated must be according to your identification card. Businesses registration Malaysia under personal names also do not need to apply for business name approval.

However, trade names are different as it is the proposed name of the business and must apply for prior approval from the Register of Business (ROB). Examples of trade names include Lucky Catering, Star Enterprise or Bubbles Laundry.

Apply for Your Business/Trade Name

Business owner’s who want to register their company trade name must fill out form PNA42 (Borang PNA42). You can find this form at the registered SSM official portal or download it from the link.

Also, Form PNA42 requires you to list down at least three name suggestions for your business, although only one name will be approved for each company. There are also important guidelines on applying for a business name such as the names must comply with the law.

SSM also pointed out some principles in naming a business such as using correct language and spelling, avoiding names that are too general, names that are vulgar, insulting or misleading and other general principles stated in the Registration of Business Rules 1957.

Complete Registration Form A (Borang A)

This form is one of the few forms needed to be filled out to register your company with the SSM. in Form A, this form must include details such as your business name, commencement date of the business, its main address, address of other branches of the company (if any), information of the owners and partners, type of business carried out and copy of a Partnership Agreement.

Attach Other Necessary Documents

Besides Form PNA42 and Form A, there are also a few documents that company owners should prepare to attach with these forms. These documents include permit, license or supporting letter for the type of business and approval or supporting letters from relevant agencies if required by the Registrar of Business.

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How to get an Account Number

This account number format will appear in all SSM’S corporate information supplied to customers. Business owners, however, do not have to make changes in their official letters, invoices, signage, and other documents until CCM announces the enforcement date of using only one number format.

What Are The Eligibility Requirements for Registration?

To be able to successfully register a business in Malaysia, individuals would need to meet the following requirements :

• To register with the SSM requires that the individual be a Malaysian citizen or a permanent resident of Malaysia.
• The individual must be 18 years of age and above
• Registration of the business must not be later than 30 days from the date of the business commencement
• The nature of the business must not contravene any laws or be likely to be used for unlawful purposes

New business registrations in Malaysia are valid for a period of one year and do not exceed five years on each registration. Individuals need to keep in mind that despite being registered with the SSM, licenses, permits or approval letters from other relevant authorities that are needed for the business must be obtained by the individual on their own.

What Are The Benefits of Registering With SSM?

Friendly and hospitable, Malaysia has successfully attracted many foreign investments into the country over the years. Ranked as one of the easiest places in the world to do business by World Bank’s, their 2018 ease of doing business report explains why foreigners are keen to set up a business in Malaysia. 

Among the benefits to registering a company with SSM are :

• The business will become a legally registered entity
• It will boost your customer’s confidence level
• It also facilitates users to verify business information
• The business details submitted will assist the government to support any development of the business community and prospect
• Only legally registered businesses will be able to apply for Malaysia Payment Gateway, like eGHL, ipay88, and more

When Should You Register SME With SSM?

The current census of Malaysia lists that the country has over 900000 businesses listed as SMEs. Of which, these contribute to 36.6% of the country’s $354.348 billion valued GDP. As such, the SME sector is invaluable to the growth of the Malaysian economy.

As such, the entrepreneurial climate in Malaysia is thriving. Leading more and more SMEs to form. This is also heavily endorsed by the Malaysian economy. As they want to ensure the growth curve remains on an upward trend.

So when should you register SME with SSM? The answer is when you already complete the steps for SME registration in Malaysia. Here are six steps you need to complete before registering with SSM.

Choose Your Legal Structure

In this step, you will have to choose the legal structure your business will take. However, do note that some structures require more formalities than the others.

Choose Your Business Name

Once you have selected your business structure, you will need to fill in form PNA42 to register your business name. For this, you will need to give the SSM at least three potential names and they must be listed in the order of priority. The only exception to this rule is in the case of a sole proprietorship. In this case, one can use the name listed on their identity cards for their business name.

Filling The Application Form

The application form, which is titled Form A, needs to be filled in for this step. You will need to list the following details in this form :

• Business name
• Full names of all owners
• Official business address in Malaysia
• Details of the shareholders/directors and secretary

Along with this, you will also need to attach clear copies of the identification documents of all individuals listed.

Paying Fees

Now, you will have to pay the relevant registration fees incurred. These fees will largely depend on the legal structure you choose. They can be as low as RM 60, for sole proprietorships and can reach up to RM 1000 for a private limited company.

Once you pay the fees, you will also have to submit a proof of payment in the form of a receipt.

Receiving Certificate of Registration

One you have paid, if your registration is successful, you will receive the certificate of registration very shortly. In most cases you may begin business activities at this point.

Obtaining Relevant permits and Licenses

In the case of some industries, you may require additional permits or licences to begin business activities. These do not fall under the SSM and you are required to obtain them through the relevant bodies.

Where Do You Go to Register Your Company in Singapore?

Online register SSM, a company in Singapore is free of red-tape and is an easy task. In addition, the government offers tax exemptions to startups and helps them with a number of schemes in their initial days.

The Accounting & Corporate Regulatory Authority (ACRA) acts as the Company Registrar. It supervises the process for company registration in Singapore. It is as per the Companies Act, Chapter 50. And you must fulfill all of its compliance requirements.

The locals, as well as foreign business owners, benefit by employing a registered filing agent to set up a business. It is especially true for foreigners wanting to start a business.

Conclusion 

Registering your company with the SSM is not as complicated as it seems. There are many benefits one can gain by register SSM online with their company, such as gaining customer’s confidence and assisting the government in supporting any developments of the business community. After you have done registering your business, you can check which online business platform is suitable for you.

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