What would happen to a company if a single director who is also the single shareholder passed away?
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According to Section 209 (3), the company secretary shall call a meeting of the next kin to appoint a new director. In the event a new director is not appointed within six months, SSM may direct the company to be struck off from the register of companies (ROC).
Who is responsible to submit CP7 form to LHDN for the strike off company?
The board of directors or appointed tax agent (to submit on behalf of the company).
Can a company object strike off/section 551 from SSM?
Yes. A company may object to the strike-off either by normal application (by submitting NOTICE OF INTENTION TO OBJECT THE STRIKING OFF OF A COMPANY pursuant to Section 552) or through a court order.
What are the duties of directors after object strike off/section 551 from SSM?
The company director must prepare and update the Annual Return and Audited Financial Statement to SSM within 180 days from the date of objection. Failed to comply, the directors can be compounded and backlisted by the SSM.
What are the key requirements to incorporate a company in Malaysia?
- At least (1) resident director;
- At least (1) shareholder (either individual or corporate body);
- One resident licensed company secretary;
- Minimum paid-up capital of RM1;
- Three (3) main nature of business.
How to register a SDN.BHD. company?
There are two ways;
- Directly incorporated by the directors through the MYCOID system. However, the company are required to appoint the company secretary within 30 days from the date of incorporation;
- Register from the beginning with a licensed company secretary (hassle-free).
What is the legal minimum number of directors for a company?
Minimum (1) director for Sdn.Bhd and (2) directors for Berhad.
What is the minimum paid up capital required to register a company in Malaysia?
In Malaysia, a company can be registered with a minimum paid-up capital of RM1.
What documents are needed to incorporate a company in Malaysia?
- Copy of Identity card;
- Email address;
- Proof of residential address;
- Copy of statutory documents and resolution for the appointment of corporate representative (applicable for corporate shareholders only).
How to select the Malaysia company business activities?
Please refer to SSM's website
How fast to incorporate a company in Malaysia?
Usually, it will take 2-3 working days for the incorporation to be completed. (Subject to the availability and stability of SSM's system-MYCOID).
What is the minimum and maximum age of a director of a company?
At least eighteen years of age, and there is no statutory maximum age for directors.
