Buy a Shelf Company in Malaysia
Updated on Sunday 08th January 2017
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Businessmen who are interested in opening a company in Malaysia should know that they can access a faster way of starting a business here, by purchasing a shelf company. Usually, the registration process of a company in Malaysia is lengthy – as it takes approximately two weeks, while the shelf company can start its operations immediately after it has been bought. Foreign investors who want to start their business activities in Malaysia as soon as possible are advised to buy a shelf company; our company formation specialists can provide you with assistance on this procedure.
Advantages of shelf companies in Malaysia
A shelf company is a ready-made company which is available for sale; it has already been incorporated through the regular registration proceedings applicable for companies in Malaysia, as there are no differences in this sense between a regular company and a ready-made company.
The most important advantages of a shelf company are related to the short time frame in which they can be operational, but other advantages refer to:
• the company can start its operations in any field, as long as it respects the provisions of the Companies Act 1965;
• the purchase contract can be signed immediately;
• you can choose a new trade name for the company;
• the company has all the required statutory documents;
• you can open a corporate bank account;
• the company is registered with the Companies Commission of Malaysia.
Below, businessmen can find out more information related to the shelf company in Malaysia:
Investors interested in setting up a company in Malaysia should know that a ready-made company requires two directors (out of which one should be a Malaysian resident), two shareholders and opening a bank account. Please note that foreigners opening a bank account here should be the holders of a business visa or work permit; our Malaysian company formation specialists can provide you with further information on this subject.
Documents provided by foreign investors
Persons who want to acquire a shelf company in Malaysia should provide several documents in order to become the legal owners of the company. As such, they will need to perform certain operations and present the following documents:
• signatures of the directors;
• signatures of the shareholders;
• filing the Relevant Statutory Declaration forms;
• filing the Board of Directors Resolution;
• a photocopy of the identity card/passport of the founding partners.
If you need further information on the shelf company, please contact our company formation specialists in Malaysia, who can provide you with assistance in this matter.