This article will give you a guide on how to register your business with Suruhanjaya Syarikat Malaysia (SSM). To avoid the confusion, a registered business is not a company.
Some quick facts:
- A Sdn Bhd is registered with the Registrar of Companies (ROC)
- An Enterprise, Sole Prop or Partnership is registered with the Registrar of Business (ROB)
- Both ROC and ROB is under SSM to keep track of all registered businesses and companies
- Only available for Malaysian Citizens and PR holders only.
You can register your business via SSM branch office or online.
Things to prepare:
A photocopy of IC (front and back) of you (and partners if applicable)
- Photocopy of IC (front and back on the same page)
- for Sole Prop, only your own is required
- for Partnership, yours and all partners
- RM 30 – If your sole prop name is using your own name as per IC
- RM 60 – If your sole prop is using a trading name (e.g. Brand name) or is a Partnership
- RM 5 per branch – If you have extra branches (your HQ does not count)
- RM 10 – To print out 1 copy of your Company Information (you need this to apply for bank account). You may want to print extra copies.
I’ve just started selling online or selling part time as a side hustle, do I need to register ?
Yes, you need to. It’s an offence to operate business without registering with SSM. You could be fined up to RM 50,000 or up to 2 years jail or both.
I sell on Shopee / Lazada, do I need to register ?
Yes, becoming a seller on any e-commerce platform means you’re doing business.
I’m selling off my old used items that I no longer need, do I need to register ?
If you’re running it as a business to trade second hand items then yes. If it’s just casually disposing off old items, then no.
What are the advantages / disadvantages of running a business as a Sole Prop / Partnership ?
Advantages of Sole Prop / Partnership | Disadvantages of Sole Prop / Partnership | Compare to a Sdn Bhd company |
| Low Cost Starting & maintaining a sole prop / partnership is the cheapest way possible. | Unlimited Liability All your business debts, loans, lawsuits are also liable personally. That means your entire savings in bank will be used to pay off what your business owes. If your business gets sued, you get sued. | Limited Liability It costs more to register Sdn Bhd. You are protected by your Paid Up Capital. Your company is a separate entity which is liable for its own debts, loans and lawsuits. If your company gets sued, its just your company. |
| No Company Secretary, No Auditor, No Tax Agent | No Advisory Help You are on your own. There’s no guidance or assistance to walk you through the steps to file your Income Tax properly. Frustrated & unable to focus on business | Expert Advisory A Company Secretary, Auditor, Tax Agent will help you optimize your business and take care of all the compliance stuff with the government. Focus on your business. |
| Easy to Register There’s not much requirement so you can easily register your business. | Low Trust / Credibility Because it’s so easy to register, serious business owners don’t take you seriously in what you do and generally do not trust your business. Simply because you can disappear overnight and your business will automatically expire after 1 year without doing anything. | Trusted and More Credible Because a company cannot be easily closed down overnight, many companies prefer to make deals with companies. Having a higher Paid Up Capital also gives more confidence to larger customers. |
| Be A Boss & Register Now ==> | Register online at EzBiz SSM | Register online at BossBoleh.com |
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