{"id":493,"date":"2023-12-22T01:40:07","date_gmt":"2023-12-22T01:40:07","guid":{"rendered":"https:\/\/jinadvisory.my\/?page_id=493"},"modified":"2024-01-02T09:32:42","modified_gmt":"2024-01-02T09:32:42","slug":"incorporation-new-business","status":"publish","type":"page","link":"https:\/\/jinadvisory.my\/en\/incorporation-new-business\/","title":{"rendered":"Incorporation New Business"},"content":{"rendered":"\t\t
\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t

Frequently Asked Questions<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
\n\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t

Do you have any other questions ?<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\tContact Us<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
\n\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

All businesses in Malaysia are required to register with the Malaysian Companies Commission (SSM).\u00a0 <\/span>Are you looking for someone to assist with Sdn Bhd register? We are in a notable position as a premier provider of Sdn Bhd incorporation services to offer you a full range of services at\u00a0 <\/span>best value for money. We will offer you support in opening a company or incorporate Sdn Bhd in Malaysia. Jin Advisory provides comprehensive business and financial solutions to Malaysian small and medium-sized businesses (SMEs). We offer extensive services, including Sdn Bhd incorporation, accounting, taxation, SST compliance, and financial due diligence. Our team of highly skilled professionals provides rapid solutions to incorporate Sdn Bhd. The establishment of Jin Advisory is primarily an effort to restructure our portfolio of services and manpower to serve our clients better. Check out the criteria for Sdn Bhd register below.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t
Private Limited Company (Sdn. Bhd.)<\/h5>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tThe company needs to have at least one (1) persons as the company director and fulfill the condition as below :<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t
  • Ordinarily reside in Malaysia by having a principal place of residence in Malaysia.<\/span><\/li>
  • Above 18 years of age.<\/span><\/li>
  • Not an undischarged bankrupt.<\/span><\/li>
  • Has not been convicted of a serious offence within the past 5 years.<\/span><\/li><\/ul><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
    \n\t\t\t\t\t
    \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat are the information needed to register a private limited company (Sdn. Bhd. in Malaysia) ?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

    The information needed to register a private limited company (Sdn. Bhd.) are:<\/p>

    • Copy of director identity card (I\/C) or passport (for foreign director)<\/span><\/li>
    • Name of the proposed company<\/span><\/li>
    • Nature of business of the proposed company<\/span><\/li>
    • Proposed address of the registered office (place to keep statutory documents)<\/span><\/li>
    • Ordinary place of residence of every shareholder and director<\/span><\/li>
    • Details of class and number of shares to be taken by every shareholder<\/span><\/li><\/ul><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
      \n\t\t\t\t\t
      \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat are the procedures to incorporate a private limited company (Sdn Bhd) in Malaysia ?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

      There are basically three (3) stages to incorporate a private limited company (Sdn. Bhd.) in Malaysia:<\/p>

      1st stage, Obtain proposed name approval from Companies Commission of Malaysia (SSM). Normally SSM will take few hours to two (2) working days to reply on the request. There will be three kinds of result:<\/p>

      • \u201cApproved\u201d \u2013 Then proceed to 2nd stage.<\/span><\/li>
      • \u201cQuery\u201d \u2013 This indicate that we can appeal by fulfilling the SSM request of supporting document or answers; normally, once the query is answered appropriately, the name will be approved. SSM will take two (2) to three (3) working days to reply on the appeal.<\/span><\/li>
      • \u201cReject\u201d \u2013 This indicate that we need to give up on the proposed name and use another name to apply for incorporation.<\/span><\/li><\/ul>

        2nd stage, as the name search approval is obtained, we will prepare the documents to be signed by the shareholders and directors. This process can be done within few hours to few working days and depends on the actual appointment timing between the company secretary, shareholders and directors. The full payment for incorporation is required to be fully settled before proceeds to next stage.<\/p>

        3rd stage, as all the documents are signed, we will submit to the relevant government agencies (e.g. Companies Commission of Malaysia) to proceed stamping and submission. Normally SSM will take one (1) to five (5) working days to issue the incorporation certificate (Section 17). The company has successfully incorporated once the certificate was issued by SSM.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

        \n\t\t\t\t\t
        \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tHow long will it take to incorporate a private limited company (Sdn. Bhd.) in Malaysia ?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

        The company can normally be set up within three (3) to ten (10) working days.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

        \n\t\t\t\t\t
        \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tCan foreigner incorporate a private limited company (Sdn. Bhd.) in Malaysia without Malaysian involvement?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

        Yes. Foreigners can set up a 100% foreign holding company in Malaysia without Malaysian involved. However please take note that according to Companies Act 2016 Section 196, every company shall have at least one (1) director (He can be Malaysian or foreigner), who shall ordinarily reside in Malaysia by having a principal place of residence in Malaysia.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

        \n\t\t\t\t\t
        \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t Can they hold 100% shares in that private limited Company (Sdn. Bhd.) ?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

        Yes. Foreigners can set up a 100% foreign holding company in Malaysia without Malaysian involved. However please take note that according to Companies Act 2016 Section 196, every company shall have at least one (1) director (He can be Malaysian or foreigner), who shall ordinarily reside in Malaysia by having a principal place of residence in Malaysia.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

        \n\t\t\t\t\t
        \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tHow much is the yearly maintenance fee of a private limited company (Sdn. Bhd.) ?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

        The maintenance fees of a dormant private limited company should be at the range of RM2,000.00 to RM3,000.00 (Include audit fee and secretary fee). If the company is active during the year, the compliance cost that the company need to pay to maintain the legal status inclusive of:<\/p>

        • Audit Fees<\/span><\/li>
        • Tax Agent Fees<\/span><\/li>
        • Company Secretary Fees<\/span><\/li><\/ul><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
          \n\t\t\t\t\t
          \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tCan a private limited company (Sdn. Bhd.) shares hold by another company (eg.holding company) <\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

          Yes, but please take note that the holding company must pass a directors\u2019 resolution to confirm their purchases on the subsidiary shares.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

          \n\t\t\t\t\t
          \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhen shall a private limited company (Sdn. Bhd.) prepare its audit report?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

          A newly incorporated private limited company (Sdn. Bhd.) shall prepare audited report within eighteen months from the date of its incorporation; and subsequently, within six months from its financial year end.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

          \n\t\t\t\t\t
          \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhen shall a private limited company (Sdn. Bhd.) submit its annual return?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

          A private limited company shall lodge with Companies Commission of Malaysia (SSM) an annual return for each calendar year not later than thirty days from the anniversary of its incorporation date.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

          \n\t\t\t\t\t
          \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tHow can I terminate a private limited company (Sdn. Bhd.)<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

          A private limited company (Sdn. Bhd.) can be terminated by the following methods:<\/p>

          • Voluntary winding up<\/span><\/li>
          • Strike off under Section 549 of Companies Act 2016<\/span><\/li>
          • Winding up by court order<\/span><\/li><\/ul><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
            \n\t\t\t\t\t
            \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tCan I set up\/incorporate private limited company (Sdn. Bhd.) myself?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

            Under Section 235 of Companies Act 2016, every company shall have one or more secretaries. Therefore, we suggest you engage our services directly, this will save your time and effort.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

            \n\t\t\t\t\t
            \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWho shall set up a private limited company (Sdn. Bhd.)?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t
            • Business with high risk<\/span><\/li>
            • Business involved many investors<\/span><\/li>
            • Foreigners<\/span><\/li>
            • Long-lasting business<\/span><\/li><\/ul><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
              \n\t\t\t\t\t
              \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat are the major different between sole proprietor\/partnership and private limited company (Sdn. Bhd.)?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

              The major different is the liability to creditors. The liability of the shareholders of the private limited company (Sdn. Bhd.) to creditors is limited to capital originally invested while sole proprietorship\/partnership have unlimited liability to their creditors.<\/p>

              Private limited company (Sdn. Bhd.) is a legal entity, it will not be terminated in the case of changes in shareholders or directors.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

              \n\t\t\t\t\t\t
              \n\t\t\t\t\t
              \n\t\t\t
              \n\t\t\t\t\t\t
              \n\t\t\t\t
              \n\t\t\t\t\t
              Sole Proprietor<\/h5>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
              \n\t\t\t\t
              \n\t\t\t\t\t\t\t
              \n\t\t\t\t\t\t\t
              \n\t\t\t\t\t
              \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat is sole proprietorship?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

              Sole Proprietorship registration is the most common and simplest legal business structure option in Malaysia. Sole Proprietorship is governed by Companies Commission of Malaysia (Suruhanjaya Syarikat Malaysia) and Registration of Businesses Act 1956.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

              \n\t\t\t\t\t
              \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat are the requirements to form a sole proprietorship in Malaysia?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

              Owner must be a Malaysian Citizen or Permanent Resident of Malaysia, aged 18 years and above.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

              \n\t\t\t\t\t
              \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat are the information needed to register a sole proprietorship in Malaysia?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

              The information needed to register a sole proprietorship are:<\/p>

              • Copy of owner identity card (I\/C)<\/span><\/li>
              • Proposed Name of the business<\/span><\/li>
              • Complete Registration of a new business \u2013 Form A (Application form)<\/span><\/li>
              • Proposed Nature of the business<\/span><\/li>
              • Letter of approval from Government Agency (if applicable)<\/span><\/li><\/ul><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
                \n\t\t\t\t\t
                \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tHow long will it take to incorporate a sole proprietorship in Malaysia?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                The business can normally be set up within few hours to 1 working day.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                \n\t\t\t\t\t
                \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tCan foreigner incorporate a sole proprietorship in Malaysia?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                No. Sole proprietorship is only available for Malaysia Citizen or Permanent Resident.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                \n\t\t\t\t\t
                \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tHow much is the yearly maintenance fee of a sole proprietorship in Malaysia?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                Sole proprietorship need to pay RM30 (personal name) or RM60 (trade name) per year to renew the business registration. The business can be registered or renewed for a period of 1 to 5 years and not exceeding 5 years with the specified prescribed fee.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                \n\t\t\t\t\t
                \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat is the major different between sole proprietor\/partnership and private limited company (Sdn. Bhd.)?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                The major different is the liability to creditors. The liability of the shareholders of the private limited company (Sdn. Bhd.) to creditors is limited to capital originally invested while sole proprietorship\/partnership have unlimited liability to their creditors.<\/p>

                Private limited company (Sdn. Bhd.) is a legal entity, it will not be terminated in the case of changes in shareholders or directors.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                \n\t\t\t\t\t
                \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tCan a sole proprietorship change its status to partnership?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                Yes, A partnership can change its status to a sole proprietorship or from sole proprietorship to partnership (trade name) by registering such a change using (Form B) and registration fee is RM20.00.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                \n\t\t\t\t\t
                \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tHow to terminate a sole proprietorship\/partnership?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                Sole proprietorship can be closed\/terminated by notification to Registrar or expiry of the registration. Business owner shall notify the Registrar within 30 days from the date the business ceased operation.<\/p>

                In the case of the death of the owner of the business, the person responsible or the next \u2013of-kin of the deceased owner shall within 4 months from the date of such death notify the Registrar.<\/p>

                Complete Notification of Termination of Registered Business ((Form C) for active business. Form C is not required to be submitted for business that has expired.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                \n\t\t\t\t\t
                \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tCan I set up\/incorporate sole proprietorship myself?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                Yes, you can visit nearest SSM with your photocopy IC and set up\/incorporate sole proprietorship yourself.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

                \n\t\t\t\t\t\t
                \n\t\t\t\t\t
                \n\t\t\t
                \n\t\t\t\t\t\t
                \n\t\t\t\t
                \n\t\t\t\t\t
                Partnership<\/h5>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
                \n\t\t\t\t
                \n\t\t\t\t\t\t\t
                \n\t\t\t\t\t\t\t
                \n\t\t\t\t\t
                \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat is partnership?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                Partnership registration is the common and legal business structure option in Malaysia. Partnership is governed by Companies Commission of Malaysia (Suruhanjaya Syarikat Malaysia) and Registration of Businesses Act 1956.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                \n\t\t\t\t\t
                \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat are the requirements to form a partnership?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                Partners must be a Malaysian Citizen or Permanent Resident of Malaysia, aged 18 years and above. Minimum two partners are required to form a partnership in Malaysia.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                \n\t\t\t\t\t
                \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat are the information needed to register a partnership in Malaysia?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                The information needed to register a partnership are:<\/p>

                • Copy of all partners\u2019 identity card (I\/C)<\/span><\/li>
                • Proposed Name of the business<\/span><\/li>
                • Complete Registration of a new business \u2013 Form A (Application form)<\/span><\/li>
                • Nature of business of the business<\/span><\/li>
                • Letter of approval from Government Agency (if applicable)<\/span><\/li><\/ul><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
                  \n\t\t\t\t\t
                  \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tHow long will it take to incorporate a partnership in Malaysia?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                  The business can normally be set up within few hours to 1 working day.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                  \n\t\t\t\t\t
                  \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tCan a foreigner incorporate a partnership in Malaysia?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                  No. Partnership is only available for Malaysia Citizen or Permanent Resident.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                  \n\t\t\t\t\t
                  \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tHow much is the yearly maintenance fee of a partnership in Malaysia?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                  Partnership need to pay RM60 (trade name) per year to renew the business registration. The business can be registered or renewed for a period of 1 to 5 years and not exceeding 5 years with the specified prescribed fee.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                  \n\t\t\t\t\t
                  \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat is the major different between sole proprietor\/partnership and private limited company (Sdn. Bhd.)?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                  The major different is the liability to creditors. The liability of the shareholders of the private limited company (Sdn. Bhd.) to creditors is limited to capital originally invested while sole proprietorship\/partnership have unlimited liability to their creditors.<\/p>

                  Private limited company (Sdn. Bhd.) is a legal entity, it will not be terminated in the case of changes in shareholders or directors.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                  \n\t\t\t\t\t
                  \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t Can a partnership change its status to sole proprietorship?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                  Yes, A partnership can change its status to a sole proprietorship or from sole proprietorship to partnership (trade name) by registering such a change using (Form B) and registration fee is RM20.00.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                  \n\t\t\t\t\t
                  \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tHow to terminate a sole proprietorship\/partnership?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                  Sole proprietorship can be closed\/terminated by notification to Registrar or expiry of the registration. Business owner shall notify the Registrar within 30 days from the date the business ceased operation.<\/p>

                  In the case of the death of the owner of the business, the person responsible or the next \u2013of-kin of the deceased owner shall within 4 months from the date of such death notify the Registrar.<\/p>

                  Complete Notification of Termination of Registered Business (Form C) for active business. Form C is not required to be submitted for business that has expired.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                  \n\t\t\t\t\t
                  \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tCan I set up\/incorporate sole proprietorship myself?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                  Yes, you can visit nearest SSM with your photocopy IC and set up\/incorporate sole proprietorship yourself.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                  \n\t\t\t\t\t
                  \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWho shall set up as a partnership?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                  Partnership suitable for two or more partners who are:<\/p>

                  • Young entrepreneur having limited fund<\/span><\/li>
                  • Startup business owner<\/span><\/li>
                  • Temporary business (e.g. joint venture)<\/span><\/li>
                  • Low risk industry business owner<\/span><\/li><\/ul><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
                    \n\t\t\t\t\t\t
                    \n\t\t\t\t\t
                    \n\t\t\t
                    \n\t\t\t\t\t\t
                    \n\t\t\t\t
                    \n\t\t\t\t\t
                    Limited Liability Partnership\n<\/h5>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
                    \n\t\t\t\t
                    \n\t\t\t\t\t\t\t
                    \n\t\t\t\t\t\t\t
                    \n\t\t\t\t\t
                    \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat is limited liability partnership?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                    Limited Liability Partnership (PLT.) registration is an alternative business vehicle under Limited Liability Partnership Act 2012 which combined the characteristic of a company and a conventional partnership. Limited Liability Partnership (PLT.) is governed by Companies Commission of Malaysia (Suruhanjaya Syarikat Malaysia) and Limited Liability Partnership Act 2012.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                    \n\t\t\t\t\t
                    \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat are the requirements to form a Limited Liability Partnership in Malaysia?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                    The Limited Liability Partnership shall appoint at least one compliance officer from amongst its partners or persons qualified to act as secretaries under the Company Act 2016 who-<\/p>

                    • is a citizen or permanent resident of Malaysia; and<\/span><\/li>
                    • ordinarily resides in Malaysia.<\/span><\/li><\/ul><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
                      \n\t\t\t\t\t
                      \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat are the information needed to register a Limited Liability Partnership in Malaysia?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                      The information needed to register a Limited Liability Partnership are:<\/p>

                      • Copy of partners identity card (I\/C) or passport (for foreign director)<\/span><\/li>
                      • Proposed company name<\/span><\/li>
                      • Proposed company nature of business<\/span><\/li>
                      • Proposed address of the registered office (place to keep statutory documents)<\/span><\/li>
                      • Ordinary place of residence of every partner<\/span><\/li>
                      • Details of profit sharing and partners remuneration packages<\/span><\/li><\/ul><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
                        \n\t\t\t\t\t
                        \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tHow long will it take to incorporate a limited liability partnership?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                        The Limited Liability Partnership can normally be set up within three (3) to ten (10) working days.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                        \n\t\t\t\t\t
                        \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tCan foreigner incorporate a Limited Liability Partnership in Malaysia without Malaysian involvement?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                        No. As minimum one Compliance officer must be citizen or permanent citizen and ordinarily resides in Malaysia.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                        \n\t\t\t\t\t
                        \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tHow much is the yearly maintenance fee of a Limited Liability Partnership?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                        The minimum maintenance fees of a Limited Liability Partnership is RM200 (SSM charges for annual declaration)<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                        \n\t\t\t\t\t
                        \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat is the major different between sole proprietor\/partnership and Limited liability partnership?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                        The major different is the liability to creditors. The liability of the partners of the Limited Liability Partnership to creditors is limited to capital originally invested while sole proprietorship\/partnership have unlimited liability to their creditors.<\/p>

                        Limited Liability Partnership is a legal entity, it will not be terminated in the case of changes in partners.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                        \n\t\t\t\t\t
                        \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tCan a Limited Liability Partnership invest by another company (e.g. holding company)?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                        Yes, but please take note that the holding company must pass a directors\u2019 resolution to confirm their investment and corporate representative in the Limited Liability Partnership.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                        \n\t\t\t\t\t
                        \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhen shall a Limited Liability Partnership submit its annual declaration?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                        A Limited Liability Partnership shall lodge with Companies Commission of Malaysia (SSM) an annual declaration for each calendar year not later than ninety days from the end of the financial year of the Limited Liability Partnership.<\/p>

                        In the case of the first annual declaration, it shall be lodged not later than eighteen months from the date of the registration of the Limited Liability Partnership.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                        \n\t\t\t\t\t
                        \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tCan I set up\/incorporate Limited Liability Partnership myself?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                        Yes, you can do so if you are compliance officer of the Limited Liability Partnership. However a compliance officer is personally liable to all penalties including administrative penalty imposed on the Limited Liability Partnership. Therefore, we suggest you engage our services directly if you are not familiar with the Limited Liability Partnerships Act 2012, this will save your time and effort.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                        \n\t\t\t\t\t
                        \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWho shall set up a Limited Liability Partnership?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t
                        • Business with high risk<\/span><\/li>
                        • Business involved many partners (e.g. Joint Venture)<\/span><\/li>
                        • Foreigners<\/span><\/li>
                        • Professional Groups (e.g. Lawyer, Accountants, Company Secretaries)<\/span><\/li><\/ul><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
                          \n\t\t\t\t\t
                          \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat are the differences between Limited Liability Partnership and Private Limited Company (Sdn. Bhd.)?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                          There are many fundamental differences between an LLP and a company. Amongst others, the differences are: \u2013<\/p>

                          • No issuance of shares<\/span><\/li>
                          • Flexibility in making decisions<\/span><\/li>
                          • No formal requirement for Annual General Meetings<\/span><\/li>
                          • No requirement to submit financial statements to SSM<\/span><\/li>
                          • Accounts need not be audited.<\/span><\/li><\/ul><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
                            \n\t\t\t\t\t
                            \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat are the responsibilities and liabilities of a compliance officer?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                            The main responsibilities of a compliance officer are such as: \u2013<\/p>

                            • Registering any changes in registered particulars of the LLP<\/span><\/li>
                            • Keeping and maintaining registers and records of the LLP; and<\/span><\/li>
                            • Ensuring publication of names of the LLP in accordance with the provisions of the Act.<\/span><\/li><\/ul>

                              A compliance officer is personally liable to all penalties including administrative penalty imposed on the LLP unless if he can prove that he is not liable.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                              \n\t\t\t\t\t
                              \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tCan there be more than one compliance officer? <\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                              Yes<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                              \n\t\t\t\t\t
                              \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tCan there be more than one partner?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                              There are no limits for maximum number of partners.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                              \n\t\t\t\t\t
                              \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tCan LLP own assets\/properties under its own name like a company?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                              Yes. LLP being a separate legal entity can own assets\/properties just like a company.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

                              \n\t\t\t\t\t
                              \n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tIs an audit of the Limited Liability Partnership accounting required?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t

                              Unless provided in the agreement, there is no mandatory auditing requirement for LLPs.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

                              Frequently Asked Questions Do you have any other questions ? Contact Us All businesses in Malaysia are required to register with the Malaysian Companies Commission (SSM).\u00a0 Are you looking for someone to assist with Sdn Bhd register? We are in a notable position as a premier provider of Sdn Bhd incorporation services to offer you […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"footnotes":""},"class_list":["post-493","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\nIncorporation New Business - Jin Advisory<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/jinadvisory.my\/en\/incorporation-new-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Incorporation New Business - Jin Advisory\" \/>\n<meta property=\"og:description\" content=\"Frequently Asked Questions Do you have any other questions ? Contact Us All businesses in Malaysia are required to register with the Malaysian Companies Commission (SSM).\u00a0 Are you looking for someone to assist with Sdn Bhd register? We are in a notable position as a premier provider of Sdn Bhd incorporation services to offer you […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/jinadvisory.my\/en\/incorporation-new-business\/\" \/>\n<meta property=\"og:site_name\" content=\"Jin Advisory\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-02T09:32:42+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"13 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/jinadvisory.my\/incorporation-new-business\/\",\"url\":\"https:\/\/jinadvisory.my\/incorporation-new-business\/\",\"name\":\"Incorporation New Business - Jin Advisory\",\"isPartOf\":{\"@id\":\"https:\/\/jinadvisory.my\/en\/#website\"},\"datePublished\":\"2023-12-22T01:40:07+00:00\",\"dateModified\":\"2024-01-02T09:32:42+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/jinadvisory.my\/incorporation-new-business\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/jinadvisory.my\/incorporation-new-business\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/jinadvisory.my\/incorporation-new-business\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/jinadvisory.my\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Incorporation New Business\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/jinadvisory.my\/en\/#website\",\"url\":\"https:\/\/jinadvisory.my\/en\/\",\"name\":\"Jin Advisory\",\"description\":\"The Professional Chartered Accounting Firm in Klang Valley (KL & Selangor) Best in Serving SMEs\",\"publisher\":{\"@id\":\"https:\/\/jinadvisory.my\/en\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/jinadvisory.my\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/jinadvisory.my\/en\/#organization\",\"name\":\"Jin Advisory\",\"url\":\"https:\/\/jinadvisory.my\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/jinadvisory.my\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/jinadvisory.my\/wp-content\/uploads\/2023\/12\/JINADV-LOGO-white.png\",\"contentUrl\":\"https:\/\/jinadvisory.my\/wp-content\/uploads\/2023\/12\/JINADV-LOGO-white.png\",\"width\":1190,\"height\":903,\"caption\":\"Jin Advisory\"},\"image\":{\"@id\":\"https:\/\/jinadvisory.my\/en\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Incorporation New Business - Jin Advisory","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/jinadvisory.my\/en\/incorporation-new-business\/","og_locale":"en_US","og_type":"article","og_title":"Incorporation New Business - Jin Advisory","og_description":"Frequently Asked Questions Do you have any other questions ? Contact Us All businesses in Malaysia are required to register with the Malaysian Companies Commission (SSM).\u00a0 Are you looking for someone to assist with Sdn Bhd register? We are in a notable position as a premier provider of Sdn Bhd incorporation services to offer you […]","og_url":"https:\/\/jinadvisory.my\/en\/incorporation-new-business\/","og_site_name":"Jin Advisory","article_modified_time":"2024-01-02T09:32:42+00:00","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"13 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/jinadvisory.my\/incorporation-new-business\/","url":"https:\/\/jinadvisory.my\/incorporation-new-business\/","name":"Incorporation New Business - Jin Advisory","isPartOf":{"@id":"https:\/\/jinadvisory.my\/en\/#website"},"datePublished":"2023-12-22T01:40:07+00:00","dateModified":"2024-01-02T09:32:42+00:00","breadcrumb":{"@id":"https:\/\/jinadvisory.my\/incorporation-new-business\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/jinadvisory.my\/incorporation-new-business\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/jinadvisory.my\/incorporation-new-business\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/jinadvisory.my\/en\/"},{"@type":"ListItem","position":2,"name":"Incorporation New Business"}]},{"@type":"WebSite","@id":"https:\/\/jinadvisory.my\/en\/#website","url":"https:\/\/jinadvisory.my\/en\/","name":"Jin Advisory","description":"The Professional Chartered Accounting Firm in Klang Valley (KL & Selangor) Best in Serving SMEs","publisher":{"@id":"https:\/\/jinadvisory.my\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/jinadvisory.my\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/jinadvisory.my\/en\/#organization","name":"Jin Advisory","url":"https:\/\/jinadvisory.my\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/jinadvisory.my\/en\/#\/schema\/logo\/image\/","url":"https:\/\/jinadvisory.my\/wp-content\/uploads\/2023\/12\/JINADV-LOGO-white.png","contentUrl":"https:\/\/jinadvisory.my\/wp-content\/uploads\/2023\/12\/JINADV-LOGO-white.png","width":1190,"height":903,"caption":"Jin Advisory"},"image":{"@id":"https:\/\/jinadvisory.my\/en\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/jinadvisory.my\/en\/wp-json\/wp\/v2\/pages\/493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jinadvisory.my\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/jinadvisory.my\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/jinadvisory.my\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/jinadvisory.my\/en\/wp-json\/wp\/v2\/comments?post=493"}],"version-history":[{"count":34,"href":"https:\/\/jinadvisory.my\/en\/wp-json\/wp\/v2\/pages\/493\/revisions"}],"predecessor-version":[{"id":926,"href":"https:\/\/jinadvisory.my\/en\/wp-json\/wp\/v2\/pages\/493\/revisions\/926"}],"wp:attachment":[{"href":"https:\/\/jinadvisory.my\/en\/wp-json\/wp\/v2\/media?parent=493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}