A Complete Guide to From a Company in Malaysia (Part 2)
In our last blog, we talked about how to form a company in Malaysia. Now, what do you have to do after you form a company?
Step 3: Post-registration
The last stage requires fulfilling the conditions and commitments you have after successfully registering your business with the SSM.
Opening a business bank account, discovering which business permits you’ll need, enrolling in the provident fund, choosing auditors, and figuring out your tax obligations are the key priorities of this stage.
Opening a corporate bank account
After establishing your company’s legal existence in Malaysia, you can create a corporate bank account. Since many banks provide various advantages and fees, we advise conducting research before choosing a bank.
There are many local and international banks you can choose from, some are:
· CIMB Bank
· Public Bank Berhad
· RHB Bank
· Hong Leong Bank Berhad
· OUB Bank
· HSBC Bank
Obtain business licenses and permit
Companies in Malaysia are required to registered for licenses and permits related to their nature of business.
There are three types of business licenses:
1. General Licenses
2. Sector/ industry-specific licenses
3. Activity specific licenses