Frequently Asked Questions
Company Formation in Malaysia
Company Formation in Malaysia
What is Company Secretary?
Who can be a Company Secretary?
Yes, how and where do I form a business in
Malaysia?
What is the requirement to become Directors,
Subscribers and Secretary(ies)?
What is Company Secretary?
A Company Secretary is a
professional whose role in a corporate set up in that of an advisor for
legal matters. He or She is a very important member of the Company’s
Management.
A Company Secretary has been recognized by corporate law as one of the
officers of the Company. The knowledge that he or she acquires during
training makes them versatile enough to carry out functions in various
areas like Finance, Accounts, Legal Administrations and Personnel
Division.
In large and medium size business organizations, a company secretary
role includes incorporation of companies, processing applications for
management appointments, remunerations, inter-corporate investment and
loans, handling public issues including listing of shares and
debentures, conducting both board and general meeting, maintenance of
records, registers and minutes of the meetings. In short, it would
suffice to say that all legal and procedural matters as per the
Companies Act, 1965 and all other applicable laws fall under the duties
of a Company Secretary.
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Who can be a Company Secretary?
Every company shall have one or more secretaries, each of whom shall be a natural person of full age. With effect 10th September 1992, NO PERSON shall act as a company secretary to a company unless:-
- He is a member of a professional body, or any other body, which has for time being prescribed by Minister or;
- He is licensed by the Registrar of Companies.
Any person who
contravenes the above requirement shall be guilty of an offence against
the Companies Act, shall be liable to a penalty not exceeding Ringgit
Malaysia five thousand (RM5,000.00).
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Yes, how and where do I form a business in Malaysia?
A person who intends to setup
and do business in Malaysia must first register a business firm or
incorporate a company with the
Registrar of
Companies (or Suruhanjaya Syarikat Malaysia). In order
to enable AITLAU to incorporate your
company in Malaysia, you need to appoint a licensed Company Secretary by
virtue of the Companies Acts, 1965, to perform the incorporation.
A registered company is a company incorporated or formed by registration
under Companies Acts, 1965. The incorporation is administered by the
Registrar of Companies (or
Suruhanjaya
Syarikat Malaysia). Both
registrations come under the jurisdiction of the Ministry of Domestic
Trade And Consumer Affairs.
AITLAU Management Services is a
qualified Company Secretary that provides professional services of
company and business registrations.
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What is the requirement to become Directors, Subscribers and Secretary(ies)?
A Statutory Declaration is
required of every proposed directors and subscribers (Form 48A) of the
proposed company. A director must be of major age and must have his
principal or place of resident in Malaysia. A company must have at least
two directors named in the Articles of Association of the proposed
company, and two subscribers to the Memorandum and Articles of
Association of the proposed company. At least one secretary of a company
shall be named in the Articles of the proposed company (Form 6).
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