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. This business entity structure is the best choice for an experienced entrepreneur in malaysia. In this article we will guide you through what is sole proprietorship and how this may be the business structure for you. The registration fee for the sole proprietorship business is rm25 per annum if they are using their personal name and if you are using a business name then it is rm50. Registration of a new business to be done within 30 days from the date of commencement of the business.

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. It is preferred by most entrepreneurs because it offers advantages that partnerships and corporations can t provide. Listed below are some examples of successful partnership companies in malaysia. 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.

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 malaysia comparing with sdn bhd. For example the liability of a sdn bhd company is limited. It is important that the business owner seriously considers the different forms of business organization in malaysia.

A sole proprietorship is the most common and simplest form of business ownership. Sole proprietorship partnership company sdn bhd or limited liability companies llc are the three most popular company structures in malaysia. Sdn bhd companies also have certain unique benefits. Complete the business registration form refer to guidelines for new business registration business may be registered using personal name or using a trade name.

Sole proprietorship is governed by companies commission of malaysia suruhanjaya syarikat malaysia and registration of businesses act 1956. Private limited company in malaysia registering an sdn bhd. 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. A sole proprietorship is not only cheap and easy to form but it also gives you.

A business can be organized in one of several ways and the form its owners choose will affect the company s and owners legal liability and. This fee varies depending on your company s name. 10 examples of sole proprietors. There will be an additional fee of rm1 for each of the branch that has been registered and rm5 for a copy of the registered business information.

Sdn bhd companies in malaysia.