How to Register a Business With Suruhanjaya Syarikat Malaysia
In an effort to simplify the process of launching a business, entrepreneurs can now conveniently register their enterprises online through Malaysia’s Companies Commission, known as ezBiz.
Eligible Businesses for Registration
The scope of businesses applicable for registration with the Companies Commission encompasses various forms of trade, commerce, craftsmanship, professions, callings, and activities conducted for profit. However, it’s important to note that this does not encompass charitable endeavors, office positions, or occupations outlined in the Business Registration Act of 1956 (ROBA 1956).
Beyond the realm of selling goods and food, freelancing services and other similar endeavors also fall under the purview of businesses that can be registered through this process.
It’s worth mentioning that the jurisdiction of ROBA 1956 is confined to businesses operating in West Malaysia, encompassing the peninsula and the Federal Territories.
Business Types Under Companies Commission The Companies Commission offers registration for two primary types of businesses:
- Sole Proprietorship: A business solely owned by an individual.
- Partnership Business: A business owned by a minimum of two (2) individuals and not exceeding twenty (20) partners.
Already know the requirement ? click here to register SSM now : https://ezbiz-ssm.services/
Prerequisites for Business Registration
To qualify as a business owner, you must be either a Malaysian Citizen or a Permanent Resident. Furthermore, you need to be at least 18 years of age and exclusively owners or partners are eligible to initiate the registration process.
Additional Criteria and Instructions Registration of a new business holds validity for up to one year, with the possibility of renewal for a maximum of five years for each registration cycle. It’s important to underscore that even after registering with the Companies Commission, owners must obtain relevant licenses, permits, or approval letters from appropriate authorities to conduct operations.
Any individual involved in business activities without proper registration commits an offense under ROBA 1956. Those found guilty can face a fine not exceeding RM50,000 or a maximum imprisonment term of two years, or both.
Selecting a Business Name Businesses can be registered using either personal names or trade names. If the business name is the same as the name on the individual’s identification card (IC), a separate application for the business name is not necessary. For instance, names like “Ali Bin Ahmad” or “Lee Chong Wei.”
Alternatively, a trade name represents the proposed business identity. However, prior endorsement from the Registrar of Business is essential for such names. Examples include “Kedai Dobi Selamat,” “Sedap Makan Catering,” or “SSM Agent Enterprise.”