business services

A smart move for business owners who plan to get involved in a deal is to perform a background check on their potential partners. Hiring the services of an investigator may be a good option, but an initial verification can be done if one knows how to check company registration Singapore.

BizFile, ACRA’s filing portal, will help you determine if a company is legal, active, and registered. Aside from delivering some basic info about a business to the public, the site also sells other company data including the business profile, certificate of production, and financial profile among others.

For businesses operating in Singapore, it is a statutory requirement to provide their updated information to ACRA. After authorities have processed the submission, a good amount of data about the company can be acquired by public via BizFile.

The reason behind this availability is to achieve transparency and prevent unlawful use of information regarding corporate entities. Maintaining global standards and boosting Singapore’s reputation as a credible financial hub are the goals of this accessibility.

Steps on How to Check a Registered Company in Singapore:

Step One:

Go to the official website of ACRA’S free online directory search platform: https://www.bizfile.gov.sg/

Step Two:

Type in the name of the company you would like to verify.

Step Three:

You will then need to verify yourself through the  CAPTCHA form—an anti-spam tool.

Step Four:

You will finally get the company’s information. The information that you receive includes:

• The name, address, industry, and Unique Entity Number (UEN): This information ensures that the company is not registered on the wrong address or fake location
• The current status of the business: They will tell you if the company exists and if it’s still operating
• The date of the last filing of the annual return and for which financial year end – business, limited partnerships and limited liability partnerships
• The date when the last Annual General Meeting (AGM) was held. If N.A. is indicated, it means that the company has not advised ACRA regarding any AGM.
• The dates when the Financial Statements (FS) were filed. It displays the availability of filed with ACRA. It holds info of up to three years.

The following types of companies are exempted:

• Public Accounting Firms, Businesses, Limited Liability Partnerships, and Limited Partnerships
• Solvent exempt private companies which are exempted and did not file FS
• Companies (such as newly incorporated ones) that have not filed the annual returns
• Dormant relevant companies absolved from duty to prepare FS under the Singapore Companies Act section 201A
• Gazette or de-gazetted companies

Why is the verification of a business important?

The verification process of the business is important because it prevents you from partnering with a company that might be fraudulent or has a bad reputation. BizFile sells information which is taken from the lodgements submitted by companies to ACRA.

Conclusion

Hence, with the help of these easy steps, you now know how to check a registered company in Singapore. Don’t take the verification process lightly as it can save you from trouble if you happen to come across a suspicious company.

A foreigner can register a Sdn Bhd, or private Limited company in Malaysia with 100% foreign ownership. However, that company must be in specific industries as dictated by the government.

The following are a few of the industries in which the Malaysian government is trying to encourage foreign investment.

• Education
• Petroleum, Oil and Gas
• Banking and Finance
• Tourism Outbound and Ticketing
• Agriculture

There are many challenges for a foreigner establishing a corporation in Malaysia, and below are the steps involved in doing so.

• Planning of the nature of business you plan to conduct.
• Identity of the corporate shareholders and directors
• Three names that you would like to call your company to be checked for availability
• Articles of incorporation submitted to the government in Malaysia
• Issuance of a Registration Certificate

Before even thinking of registering your businesses, you must be registered with the company secretary of Malaysia, which is also known as SSM. You will need to submit a completed Business Registration Form (Form A). You will also need a copy of your identification card (or passport for foreigners), and prepare the necessary payment.

The Malaysia company registration documents you will be required to prepare include:

• The proposed name(s) of your company
• Primary business activities
• Copy of all directors and shareholders identification card or passport
• Latest residential proof of address
• Minimum paid up capital information
• Percentage of shareholding for each shareholder involved

Besides the incorporation documents listed above, Malaysia company incorporation requirements include:

• Having a minimum of one subscriber to the company’s shares (Section 14 CA)
• Having a minimum of one resident director (Section 122)
• Having at least one company secretary in Malaysia.

Benefits of a Incorporating a Malaysia Company

• Strategically located in South East Asia
• Low start-up costs compared to Singapore
• Lower Rental Rates than Singapore
• Lower Wages as the average wages are RM1,100 per month which are far less than Singapore
• No Double Taxation as Malaysia has 68 double taxation treaties with other countries
• No Withholding Taxes on dividends paid outside of Malaysia.
• No restrictions on Malaysian corporations upon repatriation of capital, profits, dividends, and royalties
• Malaysia has given strong incentives to encourage business formation and capital investment

Malaysia’s KYC Requirements for Company Setup 

As part of the Anti-Money Laundering and Anti-Terrorism Financing Act, the “Know Your Client” requirement mandates that all directors and shareholders must be present for the signing of the incorporation documents. If any director or shareholder is unable to be present, they must have another person acting as a witness. This witness must attest to the declaration form with the commissioner of oaths at their own state.

Once you have completed the registration process and opened a corporate bank account, there are a few more things left to be done. You need to get your business registered with SOCSO (Social Security Organisation). This is a legal requirement for all company types. SOCSO is a mandatory requirement to protect you and your employees from any work-related injuries which may occur.

Opening a Tax File with LHDN 

It is also mandatory to open a tax file with the Income Tax Department. They are known locally as LHDN. Registering with the LHDN can either be done at the nearest office, or completed online.

If your business intends to hire employees, you will need to register with the Employees Provident Fund (EPF). This must be done within seven days of hiring the employee. You will need to submit a completed copy of KWSP Form 1. You will also need to submit your Business Registration Certificate. Other documents issued by the SSM must also be submitted at the nearest EPF office.

Depending on the industry you are in, certain industries require you to register with the Human Resource Development Fund (HRDF). This provides your employees with access to skills training and certification. These trainings are meant to help employees develop their work skills. Being registered with HRDF also gives you (the employer) access to apply for training grants. The grants can be used to subsidise the training cost for employees. 

How we can help you:

We will call you back, please click below link and make appointment with our Sales consultant:

Step 1- Listen to your Business plan and Relocation needs.

Step 2- Analysis your Malaysia Tax Planning

Step 3- Recommend the most suited type of Company Incorporation, Open Bank account and Work Visa

Step 4- Arrange for your Spouse and Children Visa

Step 5- Assist as your company to hire staffs and handle all HR matters

Step 6- Every financial year end, we assist you with your yearly SSM Finanical and Tax Compliance

Step 7- Assist you to expand business to Malaysia, Indonesia, Vietnam and Thailand.

Get in Touch with Us Today.

The Companies Commission of Malaysia (SSM) has introduced new format of registration number containing 12 digit characters for company, business and Limited Liability Partnership beginning 11 October 2019.

Please click on the link below to check your new company registration number:
https://www.ssm.com.my/Pages/Quick_Link/e-Search.aspx

This new registration number format will replace the existing company registration number of all companies at a date to be announced by SSM later.

Name:  Business services SDN. BHD.
Registration Number: 199301012242 (266980-X)

During this transition period, the existing registration number will be displayed along with the new format as shown above.
.

Highlight of SSM’s announcement:
For your information, existing registration numbers can still be used in conjunction with the new format of numbers for a period of time that will be notified later. Business owners also do not need to make changes to official letters, invoices, signage and other documents until SSM announces the enforcement date of using only one number format. However, the use of new format for registration numbers is encouraged.

SSM Memperkenalkan Format Baharu Nombor Pendaftaran

​Kuala Lumpur, 7 Oktober 2019 – Suruhanjaya Syarikat Malaysia (SSM) akan memperkenalkan format baharu nombor pendaftaran bagi entiti perniagaan yang berdaftar dengannya bermula 11 Oktober 2019.

Format baharu ini diperkenalkan bagi menggantikan nombor pendaftaran syarikat, perniagaan dan perkongsian liabiliti terhad sedia ada.  Ini selaras dengan inisiatif kerajaan untuk menggunakan satu format pendaftaran tunggal bagi entiti perniagaan di Malaysia di bawah Pelan Induk Perusahaan Kecil dan Sederhana 2012 hingga 2020.

Salah satu program di bawah pelan induk ini adalah Program Berimpak Tinggi Perusahaan Kecil dan Sederhana (SME HIP 1) yang diterajui oleh Unit Pemodenan Tadbiran dan Perancangan Pengurusan Malaysia (MAMPU).

Selain SSM, pelaksanaan format baharu nombor pendaftaran ini turut melibatkan badan-badan pendaftar lain yang mengeluarkan nombor pendaftaran entiti perniagaan.

Format baharu nombor pendaftaran entiti perniagaan SSM ini mengandungi 12 digit. Pelaksanaan format baharu ini dijangka akan memudahkan pengurusan data dan pembangunan sistem kerana ia merupakan satu format nombor yang menepati piawaian bagi kesemua jenis entiti perniagaan.

Bagi syarikat, perniagaan dan perkongsian liabiliti terhad yang didaftarkan pada dan selepas pelaksanaan format baharu, SSM akan memperuntukan dua (2) format nombor (iaitu format lama dan baharu) seperti contoh berikut:

Nama:  Business services Sdn. Bhd.
No. Pendaftaran: 201901000005 (1312525-A)

Format nombor baharu ini mengandungi empat nombor pertama menunjukkan tahun entiti perniagaan tersebut diperbadankan, dua nombor berikutnya menunjukkan jenis entiti perniagaan dan enam nombor berikutnya menunjukkan turutan nombor (running number) entiti perniagaan tersebut.

Jenis entiti perniagaan dikelaskan dengan nombor 01 untuk syarikat tempatan, 02 untuk syarikat asing, 03 untuk perniagaan, 04 untuk perkongsian liabiliti terhad tempatan, 05 untuk perkongsian liabiliti terhad asing dan 06 untuk perkongsian liabiliti terhad amalan profesional.

Untuk makluman, nombor pendaftaran sedia ada masih boleh digunakan bersama dengan format baharu nombor untuk satu tempoh masa yang akan dimaklumkan kemudian. Pemilik perniagaan juga tidak perlu membuat perubahan pada surat rasmi, invois, papan tanda dan cetakan lain-lain dokumen sehingga SSM memaklumkan tarikh penguatkuasaan penggunaan satu format nombor sahaja. Namun begitu, penggunaan format baharu nombor pendaftaran adalah digalakkan.

DIKELUARKAN OLEH: SURUHANJAYA SYARIKAT MALAYSIA (SSM)

TARIKH: 7 OKTOBER 2019​