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Foreigner May Not Able To Open Company’s Bank Account

If you are planning to register a company in Malaysia and you will be unable to open a bank account under your new company, if you are the following:

  1. Foreigner with student visa
  2. Foreigner with social visit visa
  3. Malaysian who has been classified as “bad” cheque offenders
  4. Malaysian who has been declared “bankruptcy”

Foreigner Cannot Apply Business Visa Under New Company

All new company will be registered with maximum paid-up capital of RM2,500, if you opt to use NBC services.

This has, however, not fulfilled the requirements set by the Immigration Department of Malaysia where a company that wants to apply working permit/business visa for its workers/professional staff must have paid-up capital of RM500,000 above.

Foreigners Can Not Increase Paid-Up Capital In A Company?

In order to increase the paid-up capital of a company, you will need to complete the following processes:

  1. Deposit real “cash” into the company’s bank account as “Share Application Monies”
  2. Request company secretary to prepare the necessary documents (resolutions & EGM documents)
  3. All directors & shareholders must approve & sign all documents
  4. After signing & payment of fee, your company secretary will lodge the documents to SSM for registration

Does new Company need to pay Service tax or Sales Tax?

How to add, remove or change the directors in a company?

Register Your New Company (Sdn Bhd) for just RM980 only!Call Us Today!