REQUIREMENTS TO REGISTER COMPANY IN MALAYSIA
To appoint at least one licensed or approved company secretary and he/she must be a natural person of full age who has his principal or only place of residence in Malaysia to named in the Articles of Association of the proposed company.
- He/she must be a member of a prescribed body or is licensed by CCM.
- The company must also appoint an approved auditor to be the company auditor in Malaysia.
To appoint at least one (1) directors (promoters) and (1) shareholders (subscribers) who each has his principal or only place of residence within Malaysia. A company director may also be a shareholder of the proposed company.
A Statutory Declaration must be done by the directors and shareholders (Section 201) before they can register a company.
A director must be at least 18 years old and must have his principal or place of resident in Malaysia.
A company must have at least one director one shareholder. At least one secretary of a company shall be named as mentioned in section 58 of The Companies Act 2016.
Must maintain a registered office in Malaysia where the company statutory books and documents such as register book, minutes book, share certificates and common seal of the company which required under the provisions of the Act are kept.
The name of the company shall appear in legible Romanized letters, together with the company number, on its seal and documents.
QUALIFICATIONS OF DIRECTOR – SECTION 196: DIRECTORS OF COMPANY – S196
- (1) A company shall have minimum number of directors as follows:
- (a) In the case of a private company, one director or
- (b) In the case of a public company, two directors.
- (2) A director shall be a natural person who is at least eighteen years of age.
- (3) A director of a company shall not resign or vacate his office if by his resignation or vacation from office, the number of directors of the company is reduced below the minimum number required under subsection (1) and any purported resignation or vacation of office in contravention of this section shall be deemed to be ineffective unless a person is appointed in his place.
- (4) For the purpose of this section, the minimum number of directors-
- (a) Shall ordinarily reside in Malaysia by having a principal place of residence in Malaysia, and
- (b) Shall not include an alternate or substitute director.
DEFINITION OF DIRECTOR
in addition to the definition of “director” in section 2, “director” includes chief executive officer, chief financial officer, chief operating officer or any other person primarily responsible for the management of the company.