Example Of Sole Proprietorship Company Name In Malaysia

Sole proprietorship registration is the most common and simplest legal business structure option in malaysia.

Example of sole proprietorship company name in malaysia. If you register your malaysian company as a sole proprietorship you are only required to pay an annual fee to the companies commission of malaysia abbreviated ssm suruhanjaya syarikat malaysia which is the statutory body that regulates corporate and business affairs in malaysia. A sole trader is represented by the natural person who will carry business operations in his or her own name. Private limited company is the most common form of companies in malaysia due to the following 1. Listed below are some examples of successful partnership companies in malaysia.

Sole proprietorship partnership company sdn bhd or limited liability companies llc are the three most popular company structures in malaysia. 10 examples of sole proprietors. A sole proprietorship is the most common and simplest form of business ownership. For certain businesses this structure is suitable because it is the simplest and least expensive business structure with regard to its setup.

Sole proprietorship is governed by companies commission of malaysia suruhanjaya syarikat malaysia and registration of businesses act 1956. Complete the business registration form refer to guidelines for new business registration business may be registered using personal name or using a trade name. Unlike sole proprietorship a private limited company is a separate legal identity it can acquire assets go into debt enter into contracts sue or be sued in its own name and has a perpetual succession until the directors and shareholders decide to dissolve the company. Sole proprietorship type of business liability is unlimited which means if a business fails or declared bankrupt creditors can sue the sole proprietor s owner for all debts owed to respective merchants.

An important aspect referring to the incorporation of a sole proprietorship here is that foreign persons are not allowed to incorporate this. This fee varies depending on your company s name. Here in this article we will deal with the sole proprietorship malaysia and also figure out how it is different from that of a sdn bhd or limited liability company. The applicant of business name must be filled in to related body the registrar of business rob under companies commission of malaysia ccm before a business can be registered.

A sole proprietorship is not only cheap and easy to form but it also gives you. Sole proprietorship malaysia comparing with sdn bhd. Registration of a new business to be done within 30 days from the date of commencement of the business. A sole proprietorship is a business wholly owned by a single individual using personal name as.

A sole proprietorship must be registered with the companies commission malaysia the main institution where companies file for registration. Types of business structures which can be used for company incorporation in malaysia.