Open a Partnership in Malaysia
Updated on Monday 29th August 2016
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One of the legal ways in which a foreign investor can set up a company in Malaysia is by opening a partnership. The local legislation prescribes several requirements when choosing this legal entity and our team of company formation specialists in Malaysia can provide an in-depth presentation on this matter; at the same time, our agents can assist throughout the process of registration of a partnership.
Registering a partnership in Malaysia
Those who are interested in opening a partnership in Malaysia should know that the registration process is handled by the Companies Commission Malaysia (SSM), an institution where all companies established here are required to register.
A partnership in Malaysia is a type of business which requires at least two partners (and up to 20), which should be registered at the SSM by following specific rules. It is important to know that the registration of a company in Malaysia can be completed for a period of one year and up to a maximum of five years.
When registering a company in Malaysia, the investors should provide the following information:
• the proposed company name;
• the business activity;
• a copy of the investors’ identity cards.
An important aspect of the local legislation is that foreigners should have a permanent residence permit issued by the local authorities in order to register a company in Malaysia, as sole proprietorships and partnerships can’t be established by foreign citizens; our team of company formation consultants in Malaysia can offer more details on this matter.
Limited liability partnership in Malaysia
The limited liability partnership in Malaysia is a type of legal entity which combines the features of a classical partnership (in which the partners are fully liable for the liabilities of the business) and those of a company. The main aspect related to this business form is that the partners have limited liability related to the company’s losses.
Persons who need to receive more information on how to open a partnership or how to set up a company in Malaysia can address to our team of company incorporation representatives in Malaysia for assistance.