Irsah in Designs
Suruhanjaya Syarikat Malaysia (SSM) or Company Commission of Malaysia (CCM) had already annouced the small business registrations and renewal special incentives fees. The proposal was announced by Prime Minister, Dato'Seri Najib Tun Razak, in his speech during the National Youth Gathering 2012 in Putrajaya early May this year.
Small business and company registration and renewal incentive package fee had started since 1st of June 2012 and it will end on the 31st of Disember 2012. The incentive fees include sole propertiership and partnership business registrations and renewal activities.
The new limited time offer package by SSM, is part of Malaysia's goverment to help out and boost small business industries and focused towards the youth. Hence, current business owners could take this special offer to renew their current business registration and save up to 300% discount from normal fee.
There are two (2) type of Business that you can register with Compny Commision of Malaysia which is:-
Sole proprietorship: Business wholly owned by a single individual using personal name as per his / her identity card or trade name.
Partnership: Business owned by two or more persons but not exceeding 20 persons. Identity card name can’t be used as business name.
SSM/CCM indicates that, a business include every form of trade, commerce, craftsmanship, calling, profession or other activity carried on for the purpose of gain. But it does not include any office or employment or any charitable undertaking or any occupation specified in the Schedule of the Registration of Businesses Act 1956 (ROBA 1956) & ROBA Rules 1957
Registration of a new business to be done within 30 days from the date of commencement of the business.
Business may be registered using personal name or using a trade name.
(i) Personal Name - Business name using personal name as stated in the identity card is not required to apply for business name approval.
Business names approval is according to Rules 15, Rules of Business Registration 1957.
Business Registration can be made for a period of one (1) year and not more than five (5) years.
Most important the person or persons who wants to register their business will be the personnel who will submit the Business Registration Form (Form A). No third parties allowed. So, the owner or one of the partners will have to submit the relevant forms for business registrations purposes.
Below are the standard fees for small business registrations fee guideline by SSM/CCM:-
Trade Name – RM60 per year
Personal Name - RM30 per year
Branch (s) - RM5 per year for each branch
Since the announcement by Malaysia's Prime Minister early May, below are the directive provided by SSM/CCM for the new incentive package for small business oeners. For the period beginning 1st June 2012 to 31st December 2012, the incentive package offered as follows:
|Activity||Limited Time Offer Fee|
|New Registration||Trade Name or Personal Name – RM50 for 5 years|
|Business Renewal||Trade Name or Personal Name – RM50 for 5 years|
|Compound for Late Registration and Late Renewal of Business Registration||50% discount|
For the above package, your new business registration certificate can be obtaind within 1 hour upon approval and processing.
The validity period for the certificate, will be stated on your certificates. The offer is limited for 5 years renewal at the above fee stated. Additonal discounts of 50% is also provided by SSM/CCM for renewals and late business registrations compounds.