Company Incorporation in Malaysia & Bank Account Opening Requirements

1. Malaysia Company Incorporation Requirements – within 2 weeks

• Minimum 1 director (must be a Malaysian resident; foreign directors allowed only if at least one resident director is appointed).
• Minimum 1 shareholder (individual or corporate; 100% foreign ownership is allowed).
• A company secretary licensed by SSM (mandatory).
• Registered business address in Malaysia.
• Proposed company name (subject to SSM approval).
• Paid-up capital (minimum RM1; banks may require higher capital later).
• Identification documents: Passport/IC for all directors and shareholders.
• Details of business nature and planned operations.

Required Documents for Incorporation

• Passport copy (for foreign directors/shareholders).
• IC copy (for Malaysian directors/shareholders).
• Residential address proof (utility bill, bank statement, etc.).
• Company name choices (3 options recommended).
• Shareholding structure details.
• Business activity description.

2. Bank Account Opening Requirements in Malaysia – within 1-2 months

• Completed bank application form.
• Directors must often be physically present for verification (bank-dependent).
• Certified incorporation documents (Superform, Section 14, Section 58, Section 17).
• Board resolution to open the bank account.
• Company stamp.
• Business plan or explanation of business model.
• Proof of business activities (contracts, invoices, website, etc.).
• Minimum deposit (varies by bank).

Documents Typically Required by Banks

• Company incorporation documents from SSM.
• Directors’ and shareholders’ passports/IC.
• Proof of residential address.
• Company secretary’s confirmation letter.
• Board resolution.
• Financial projections (if requested).
• Contracts, invoices, or evidence of counterparties.