Want to set up a limited company? Don’t know anything about limited companies?

Want to set up a limited company? Don’t know anything about limited companies?

Let's use the 5W2H approach to understand information about setting up a limited company!

What is a limited company?
A limited company is an independent entity with legal status,
where investors (shareholders) contribute capital and directors manage the company.

Who can set up a limited company?
Malaysians, foreigners               Must be 18 years old and above        non-bankruptcy

Note: Foreigners need a local to act as a shareholder to establish a limited company.

What specific positions are needed to set up a limited company?
1 director and 1 shareholder

Note：An individual can be both a director and a shareholder.

Why set up a limited company?
To create a professional image and enhance credibility
To separate personal and company assets
To facilitate easier access to financing and business expansion, leading to better profits for the company

To set up a company, you need to provide a local and valid business and residential address.

When should you consider setting up a limited company?
When personal income exceeds RM70k, as you can enjoy a lower tax rate of 15%.
When you need financing, it is more suitable to set up a limited company.

What do you need to prepare?
Local citizens need to provide their identity card, while non-citizens need to provide their passport and visa.

How much need to concern？
@ Audit Fee
@ Secretary Fee
@ Account Fee
@ Tax Agent Fee
@ Nominee Director Fee
@ Corporate Tax