Here’s what to expect when you register LLP online with Yau & Co.
1. Quality check
We ensure that all the information you provided in the online LLP set up form meets SSM set-up requirements. We’ll contact you before we prepare your filing if we see any issues.
Information require for set-up LLP:-
- Proposed name of the LLP;
- Nature of business;
- Address of registered office;
- Name and details of partners (atleast 2 partners);and
- Name and details of compliance officer
2. Name Search & Reservation
Next, we conduct a preliminary name search to see whether the propose LLP name you’ve selected is available. If the desired name is available, we will then submit the Name Reservation Form to SSM for approval and reservation. Final approval of your name reservation will be granted by SSM.
3. Submission of LLP Document.
We prepare your LLP set-up document for partners signatories. The signed documents will then be submitted to SSM. SSM processing and approval times vary, but generally can be fulfilled within 1-2 business days (subject to the availability & stability of SSM’s MyLLP online system).
4. LLP Set-up Documents Delivered
A complete package of certified true copy (CTC) LLP documents will be delivered to you. This is important documents required for bank accounts opening, business license application, registration with statutory bodies – EPF, SOCSO and other business activities.
5. Post-LLP Set-Up and ongoing support
After LLP being set-up, you’re ready to commence your business. Also, make sure you have any necessary licenses and permits, and continue to meet ongoing compliance requirements. Yau & Co. is ready to help you every step of the way—not only for LLP set up services, but for the support you need throughout the life of your business by our YAU & CO team.
Q: Where to Register Your LLP?
All LLP need to be registered with the Companies Commission of Malaysia (Suruhanjaya Syarikat Malaysia or SSM in Malaysia), SSM Malaysia is a statutory body which regulates companies and businesses.
Q: Can I Register My LLP Directly with SSM?
Yes. The partner can set up LLP via SSM MyLLP System. However, you are advice to consult qualify Secretary Firm to ensure the information furnish are accurate and proper to avoid any error or amendment in future. Please also take note that, you are require to appoint the Compliance Officer for the LLP.
Q: What is the LLP set up procedures?
Set up your LLP with Yau & Co. In 2 Fast & Easy Steps
- Complete the online LLP setup form
- Sign relevant set up LLP documents
Q: How long does it take to set-up a LLP in Malaysia?
Based on YAU & CO.’s past experiences dealing with SSM, the entire LLP registration process will take averagely 5 working days. Having said, Yau & Co.’s Expedited Processing Services successfully help our client register a LLP within 1-2 working days provided all information are complete. Please note that the set up timeline is very dependent on the accuracy and completeness of information and documents and also subject to the availability & stability of SSM’s MyLLP online system.
|No.||LLP set up Procedures||Working Days|
|1||Name reservation with SSM Malaysia||24 hours|
|2||Once name approved by SSM, we will prepare the registration documents||1* - 2|
|3||Signing of documents by all Partners||(depend on client arrangement)|
|4||Submission to SSM for registration of your new LLP||1* -2|
|5||Notification of Registration issued by SSM||1 (depend on SSM approval)|
|Estimated Timeline for New LLP Registration||5|
* Expedited Processing Service speeds the turnaround time for your order. Yau & Co. priorities your order above non-expedited orders. LLP set up documents will be ready for partner’ signatories within 1 business day after we receive full payment & complete information. Submission to SSM for registration of your new LLP within 1 business day after received complete signed LLP set up documents.
Q: Once a Malaysia LLP has been Set-Up, what are the Post LLP Set-Up Issues need to be considered?
After your Malaysia LLP has been setup, you can start your business activities immediately. However, you may need to do some or all of the following if applicable to you:
- Open bank
- If your business requires one or more licenses, you may need to obtain the relevant licenses first before you can commence your business
- Register for Goods & Services Tax (GST) if necessary. The registration of GST is not mandatory unless your annual turnover exceeds RM500,000. We can help you register for GST.
- If you intend to hire local employees (Malaysia citizens and/or permanent residents) you will need to open an account with the Employment Provident Fund (EPF) - a percentage of the local employees’ salaries will be contributed to the EPF Board on a monthly basis as part of their retirement fund. We can help you register your LLP EPF account and manage your staff payroll if required.
- You will need to decide on your LLP’s fiscal year end, which can be any date within 18 months from the date of LLP set up. You will need to keep track of your income and expenses (bookkeeping) according to Malaysia accounting standards. Depending upon the volume of transactions, we can provide bookkeeping services either on a weekly, monthly, quarterly or yearly accounting basis.