WARNING: Conducting business without registration is an offence that is punishable with a fine not exceeding RM50,000.00 or imprisonment not exceeding 2 years or both.
So you decided to register a sole proprietorship or partnership as your business entity. Here is how you go about getting it registered:
How to Register for Sole Proprietorship or Partnership?
Go to Suruhanjaya Syarikat Malaysia (SSM) a.k.a Companies Commission of Malaysia (CCM) office or visit EZBIZ Portal to register a business as a Sole Proprietorship (1 person) or a Partnership (2 or more person but not exceeding 20 people).
What is the Registration Cost?
- Sole Proprietorship using the personal name – RM30.00 (e.g. Abu Enterprise)
- Sole Proprietorship using trade name – RM60.00 (e.g. Ninja Solution Enterprise)
- Partnership – RM60.00 (e.g. Fareez Shah and Partners)
What do you need to bring?
- Come up with at least 3 business names (in case a name is taken up)
- Bring a Photocopy of your Identification Card
- Completed Business Name Approval Form (Form PNA.42)
- Completed Business Registration Form (Form A)
- You and/or your partner must submit the application personally
- Moolah/Dough/Money/ Legal Tender (prepare exact sum beforehand to avoid the possibility CCM doesn\’t have money for a change)
Important Note: Use of numbers, signs, symbols, or any of the words HERE are not allowed as part of the business name.
More Important Note: If you are registering as a partnership, please make sure you sign a Partnership Agreement and deposit a copy with SSM to regulate the relationships between partners. Checkout here, I’m giving out this sample Founders Collaboration Agreement/ Partnership Agreement for free for you to use as a guide.
Others related article – Type of Busines Entity in Malaysia
Worry about the registration process for Sole Proprietorship or Partnership? Let\’s us help you: