Companies Act 2016
The Malaysian Parliament has passed the Companies Bill 2015 recently. The Bill has received Royal Assent on 31 August 2016 and has been gazetted on 15 September 2016 as the Companies Act 2016.
Although only coming into effect in 2017, the new changes of the Companies Act is paving way to an easier and cheaper way to set up and to run a company in Malaysia. Among the changes are the requirement of only 1 local resident director instead of 2 and audit exemption for certain group of companies.
We are happy to see the new legislation and regulations changes where the government is encouraging and promoting new business ventures. With the availability of the bulk of resources and assistance from the local government, Malaysia will be the best location in the region to start a business.
As a market penetration specialist in Malaysia, we welcome you to see us for any advise or discussion. Our professional team are all ready to guide you through and provide you with any assistance needed. Currently we are the only one-stop-solution services provider in Malaysia who can provide you with all the professional services required under one-roof. All these can be done at economical prices, best quality and fastest turnaround time. This will save you the hassle to deal with multiple companies dealing with incorporation matters, work pass application, opening of bank accounts and annual compliance matters including human resource, accounting, taxation, GST and etc.
Stephanie Chua
Managing Partner
Read More in our E-Newsletter October 2016.