FAQ Section
Here you can find information for your inquiries & concerns.
General questions
General Questions
What is Sendirian Berhad (Sdn. Bhd. ) or Limited Liability Partnership (LLP)?
Sdn. Bhd. is a private limited company in which the liability of members are limited. Besides that, it is a separate legal entity with full capacity to carry on or undertake any business or activity including to sue or be sued, manage property, and carry out transactions.
LLP is an alternative business business vehicle to carry out business which combines the characteristics of a private company and conventional partnership.
LLP provides limited liability status to its partners and offers the flexibility of internal arrangement through an agreement between the partners.
Which type of entity should we choose?
Well, it depends on how you want to let your business grow. Sdn. Bhd. is a conventional type of entity which the annual cost might be slightly higher than maintaining a LLP. For more information, kindly contact us at +0123589500.
Who can form or be the Director of a Sdn. Bhd.?
Pursuant to the Companies Act 2016, you must be aged at least 18 years old, reside in Malaysia and most importantly not disqualified under the Act.
For non-Malaysian who reside in Malaysia, what you have to do is, to make sure your residential address in Malaysia is still valid!
For non-Malaysian who do not reside in Malaysia, you may need to look for at least one (1) local partner to form the Company.
Can I form a Sdn. Bhd. with myself solely?
Yes you may. According to the new Companies Act 2016, the minimum requirement to form a Sdn. Bhd. is to have at least one (1) director (resides in Malaysia) and at least one (1) shareholder.
What is an offshore Company?
An offshore company is a company which generally excludes conduct of business in its country of incorporation. Hence, the company is free of its home government interference and it can be incorporated to enjoy low tax rates. It is also called an offshore IBC (international business company) or non-resident company. An IBC is frequently used in international trade; provision of services; as a holding or the making of investments; for ownership of real estate; for ownership of intellectual property, licensing and franchising.
Two key characteristics of an offshore company are:
- It is incorporated under the offshore company regulations of the relevant offshore jurisdiction.
- It does not conduct any substantial business within the offshore jurisdiction where it is incorporated.
How much does it cost to set up an offshore Company?
It is reasonably affordable to set up an offshore company and different jurisdictions command different set-up fees. Generally, fees incurred for setting up and annual maintenance fee of an offshore company include the following:
- Administrative, Accounting Services, Annual Auditing and Tax Filing Fees – based on time spent and charged at prevailing hourly rates
- Exclude Disbursements – all out of pocket expenses including telephone, facsimile and travelling expenses
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