Tax and accounting regulations

Summary of Requirements for a Limited Liability Company, Sdn.Bhd

General Information
Type of Company Limited Liability Company, Sdn. Bhd.
Timescale to incorporate Approx. 2 weeks
Corporate Taxation 28% Corporate Tax on all income. Some withholding taxes applicable; 15% on Interest and 10% on Royalties. It is advisable to Appoint a Licensed Tax agent, Eltoma can assist with this.
Double Tax Treaty Access: Yes, a Malaysian company can access double taxation treaties with 68 countries
Directors
Minimum No. Required 2 Local Directors Required however can also appoint foreign directors.
Local Director Required Yes, 2 Local Resident Directors are required. Eltoma Corporate Services can provide this service
Publicly accessible information Yes
Location of Meetings Anywhere
Additional Information A Local Director Deposit is required to be paid for each director appointed. This is 1,500.00 USD for each director and is refundable upon cessation of service.
Shareholders
Minimum No. Required 2
Publicly accessible information Yes
Location of Meetings Anywhere
Company Secretary
Required Yes
Local Secretary Required Yes, must be a resident of Malaysia
Registered Office Required Yes
Share Capital
Standard Currency RM (Malaysian Ringgit)
Standard Authorised Minimum Authorised Capital RM 100,000 (approx.30,000 USD)
Minimum Paid Up Capital Minimum Paid Up Capital RM 2.00 (approx. 1.00 USD)
Accounting & Compliance
Requirements to prepare Accounts Yes.
Requirement for Audit Yes. All Malaysian Companies must appoint an auditor before the first AGM.
Local Auditor Required Yes.
Requirement to File Accounts Yes
Requirement to file Annual Return Yes
Additional Information
VAT GST (Goods & Services Tax) currently stands at between 5% – 10%. Obligatory if the annual company turnover exceeds PM 100,000 (approx. 30,000 USD).
Bank Account Opening Many large international banks such as HSBC, Citibank and Standard Chartered are located in Malaysia.

Take the next step, we are here to help.

Register a Malaysia company.
Open a Malaysia bank account.

  Resources:

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