Entities Required for Business

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Photo by Kristin Wilson on Unsplash

Perhaps you have been thinking about how to move your business forward, have done enough reading on business entities and decided to go ahead with a company.

You can apply to incorporate a company by lodging the constitution of the company and other required documents, providing the prescribed information, and paying a prescribed fee to the Registrar of Companies (the “Registrar”) with the Accounting and Corporate Regulatory Authority (ACRA)

The constitution of the company states the name of the company, the type of business activity it will carry, the liability of its shareholders and the paid-up capital of the company on incorporation.

A person wanting to incorporate a company may choose to adopt the model constitution provided by ACRA. Alternatively, a more tailored constitution may be used. If time is of the essence, the model constitution could be used first and amended or replaced later.

Generally, the name of the company must not be undesirable, identical to the name of another company or business or a name of a kind directed by the Minister not to be registered, and must contain the words “Private” (or “Sendirian”) and “Limited” (or “Berhad”).

The address of the registered office, operating days and hours must be provided to the Registrar when lodging the constitution. The registered office address must be a physical address and not a post-office box.

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