Incorporation is the process of officially registering a business with the state to create a separate legal entity from its owners. This allows the business to have its own rights and obligations under the law, and to be held liable for its own actions, independent of its owners. The process typically involves filing paperwork with the state government, paying a fee, and meeting certain legal requirements. Once incorporated, a business receives a certificate of incorporation and gains benefits such as limited liability protection and increased credibility. However, it also comes with additional legal and administrative requirements that must be met to maintain the company’s legal status.
In Malaysia, to obtain a certificate of incorporation, an application must be submitted to the Companies Commission of Malaysia (SSM) along with the necessary fees. Once the application is processed, a certified copy of the certificate of incorporation is issued. The entire process typically takes between 5 to 10 days to complete. The certificate of incorporation confirms the legal existence of the company as a separate legal entity and is an essential document for conducting business operations in Malaysia.
Samsung and Apple are examples of companies that were registered with different names. Samsung was registered as Samsung Electronics Co., while Apple was incorporated as Apple Inc. Similarly, when you appoint a Company Secretary to incorporate your company, they will use the information you provide and guide you through the incorporation process to ensure it is completed seamlessly and without any complications.
Under Malaysian law, a company secretary must be appointed within 30 days of a company’s incorporation and the person appointed must provide formal approval. The Companies Act requires every company to have a company secretary, but additional secretaries are allowed. In case of a change in company secretary, the board will typically request the current company secretary to resign before appointing a new one.
Our company not only provides basic secretarial services, but also specializes in helping clients acquire licenses from various authorities, including DBKL, MOF, and CIDB. Our team has the necessary expertise to guide clients through the licensing process, ensuring that they meet all legal requirements and obtain the necessary permits to operate their business in compliance with local laws and regulations.
In Malaysia, compliance with the regulations governing the Employees’ Provident Fund (EPF) and Social Security Organization (SOCSO) is a critical aspect of running a business. EPF and SOCSO are federally mandated organizations that oversee retirement planning, mandatory savings programs, and medical and financial assistance to workers who are disabled or handicapped due to illness or accidents. Failure to comply with these regulations can lead to serious legal and financial consequences, including legal action, asset seizure, and selling. At Dynamic Corporate Services, we specialize in EPF and SOCSO registration, ensuring that our clients meet all legal requirements and avoid penalties. Our team of experts can assist with EPF/SOCSO registration and provide ongoing support to keep everything up to date. Our tailored services are designed to meet the specific needs of each client, allowing them to focus on their business operations with peace of mind knowing that they are in compliance with all relevant regulations and requirements.