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Step-by-step regulatory requirements organized by timeline phase
Open Corporate Bank Account
Open MYR and USD accounts with Maybank, CIMB, Public Bank, or HSBC. All directors typically required for in-person account opening. Allow 1-3 weeks.
Apply for Employment Pass for Foreign Staff
Foreign employees need an Employment Pass approved by the Expatriate Services Division (ESD) under the Ministry of Home Affairs. Three categories by salary; minimum MYR 5,000 monthly.
Apply for Sector Licences
Banking and capital markets (BNM, Securities Commission), insurance (BNM), telecoms (MCMC), wholesale and retail trade (MITI WRT licence for foreign-owned), construction (CIDB) require sector licences.
Appoint Company Secretary
Appoint a SSM-licensed company secretary within 30 days of incorporation. Mandatory for all Sdn Bhd companies; secretary maintains statutory registers and handles SSM filings.
Register for SST (Sales and Service Tax)
Service Tax registration mandatory if taxable services revenue exceeds MYR 500,000 (or MYR 1.5 million for certain F&B). Sales Tax applies to local manufacturers above MYR 500,000.
Register the company and each employee with the Employees Provident Fund (KWSP) within 7 days of hiring. Standard contribution: 13% employer (12% if salary above MYR 5,000) + 11% employee.
Register with SOCSO and EIS
Register with PERKESO for the Social Security Organisation (SOCSO 1.75% + 0.5%) and Employment Insurance System (EIS 0.2% + 0.2%). Mandatory for all employees regardless of salary.
Register the company with the Inland Revenue Board (LHDN) to obtain the corporate tax file number within 3 months of incorporation. Required before submitting first tax estimate.
Submit Tax Estimate (Form CP204)
Submit corporate tax estimate (Form CP204) to LHDN at least 30 days before the start of the basis period. Pay monthly instalments by the 15th of each month based on the estimate.
Monthly Payroll Withholdings (MTD/PCB)
Withhold and remit Monthly Tax Deductions (MTD/PCB) on employee salaries by the 15th of the following month via e-PCB. EPF, SOCSO, and EIS contributions due same deadline.
Bi-Monthly SST Return
Submit SST returns and pay net tax bi-monthly (every 2 months) by the last day of the month following the taxable period. Late filing triggers escalating penalties.
File Annual Return with SSM
Lodge annual return with SSM within 30 days of the company's incorporation anniversary every year. Include audited financial statements within 6 months of FYE.
File Form C / Form C-S Tax Return
File annual corporate tax return (Form C for standard, Form C-S for SMEs with revenue under MYR 50 million) within 7 months of FYE. Standard rate 24%; SME first MYR 600K at 17%.
Statutory Audit and Financial Statements
All Sdn Bhd companies (except dormant and small audit-exempt subsidiaries) must engage an MIA-registered auditor and prepare audited financial statements compliant with MFRS.