Hi,

My GF is having online business by selling miscellaneous stuffs over facebook.. the cash flow is quite large so her bank is freezing her account bcoz she don't have registered company. her bank suggests for she to open up a current account with registered company. do any of u guys is having experience on registering the company with SSM and opening current account? i heard they need some kind of company rubber stamp when opening the account.. thanks.

It would be better to ask SSM directly the procedure. Go to this website for details
www.ssm.com.my
For the current account, the bank will give you a checklist of the relevant doc such as co rubber stamp, form 44,form 49 etc

Form 44 and Form 49 are for Sdn. Bhd. la..

Business is not required. Just business registration form A.

register a company better to open sdn bhd mah limited liabilty

This post has been edited by rayng18: Nov 2 2011, 03:05 PM

Can register sole proprietorship with SSM, then open current account.

Most of the bank need you get an introducer.

For example PUBLIC Bank current account, they need you find a introducer of PUBLIC Bank current account that over 1 year

You can try Alliance Bank because those ALB staff can be your introducer.

Hong Leong as well if the staff more than 3 month, they able be your introducer.

Maybank same as Public Bank

I'm using CIMB Islamic current account....requires SSM, introducer and company rubberstamp...that's all.

My online business is registered under SSM as enterprise, Sdn Bhd will cost you more money.

After you register the company, go and make a company chop.

Bring your chop and the company registration thingy that you got from SSM to bank to open company current account. Minimum deposit depends on the bank. For me I open account with Maybank, if not mistaken was RM2k deposit, or maybe less I'm not sure. Also for current accounts, usually you'll have to have someone who already has a current account to refer, or in other words, an introducer.

The limited liability is somewhat limited. Because creditors usually will want directors to sign guarantees.

Of course you're still protected for things which you did not sign a guarantee. Like vicarious liability, not paying your employees, outstanding utilities/rental, etc.

Don't worry about introducer. Use the existing current account under your personal name to introduce your business account.

This post has been edited by dkk: Nov 2 2011, 09:48 PM

i think her biggest problem right now is to find introducer for her current account.. maybe i can ask her to open account at Alliance Bank.. thanks all for your input..

My cousin just opened a current account last week at Ambank. No introducer needed and first deposit is RM500 only. Just need to bring the Business Registration Certificate and MyKad..

even better.. your cousin is opening small enterprise or sdn bhd company?

i just opened a current acc with CIMB without introducer. i asked whether do i need any introducer, they said no need, just give them the business registration cert, and your IC. u will need to bring along your company chop, and also RM1k. it is so simple.

btw my business is sole proprietorship.

so in other words, if i already have a personal current account with maybank, can use that to apply for business current account?
good to know that sole proprietor can have a current account with CIMB.

Looks like the rules vary by the banks. And perhaps even by branch. I did that at Public Bank.

If I only have savings account and FD with MBB but no current account..can I register for a current account?

Hi

Mind to share how much your GF monthly turnover in her account until bank freeze her account?

Just curious because I am also having around 200-300k monthly turnover on my personal account but so far bank haven't annoying me yet.I am appreciated if you can share the figure with me so that i can control my turnover.

You can pm me if you are not convenience to reply here.

TQ!

can't believe that so many rich people that can generate so much of income over internet.

That's RM3.6 million per year! Go register your business. That amount is high enough to attract attention from the tax man.

my experience with cimb:
-once i step into the bank i told the officer i want to open a current acc
-she gave me few sheet of form
-i filled all the form
-i met another officer and proceed (finger print, ic and whatever)
-i got my cheque book n debit card within a week time(need to apply)

SO SIMPLE!!! they din ask for business cert or other complicated doc

p/s: this current acc was put my name but not registered company name

This post has been edited by sunnyckh: Nov 30 2011, 06:56 PM