Don't they have to pay for auditing and secretarial services as well..?
Setting Up Own Company, Diff btw Trading and Sdn Bhd
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 May 14 2006, 12:25 PM
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#1
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Elite
4,210 posts Joined: Jan 2003 From: Malaysia  
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Then i dun get it, why are Enterprise or Sole Proprietor companies so much cheaper..?
Don't they have to pay for auditing and secretarial services as well..? |
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May 15 2006, 10:41 AM
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#2
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Elite
4,210 posts Joined: Jan 2003 From: Malaysia
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QUOTE(alqa @ May 14 2006, 07:47 PM) trading, or enterprise is a sole proprietor or partnership business. either a one man operation or partners from 2 - 50 ppl. features: no need for appointed certified accountant, no need for subscribed company secretary. easy to setup, less paperwork required, cheap to setup (RM100) the owners/partners are wholly responsible for the full limit of the liabilities. business and owner are one entity. no separate account, business income is taxable thru owner's/partner's personal tax return. by far the best informative one I've read thus far. Sdn Bhd is a limited liability company, where business and shareholders are different entities. ownership is calculated based on number or percentage of shares held. number of shareholders is unlimited, but there must be at least one executive director. liabilities is only limited to the portion of equities held. need to have appointed certified accountant/auditor, must have a subscribed company secretary (which charge monthly/annual fees). best be setup thru these company secretaries. requires tonnes of paperwork and documentation. each year accounts have to be audited and certified by auditor and submitted to company commission, and taxes will be charged based on the alleged performance from the said audit. easier to buy ready made sdn bhd from company secretaries rather than setup one from scratch. cost normally ranging from RM 1.8k to RM3k. most co secretaries already have ready made shelf companies of default/generic names, so you just buy off the shelf and they'll help you change the name to one of your own choice, provided that its not already taken up. can do namecheck online on company commission's website. trading/enterprise best suited for small businesses/home businesses, simple setup, capalang, fly by night business or such. as far as doing business, most ppl are more comfortable dealing with sdn bhd and feels that sdn bhd is more credible. more or less.... right from the top of my head.... now that u have your company, need financing?   but i got a continuing question regarding the enterprise. yearly accounting or auditing that one how..? what's there to be done..? who should do it or can do it for you..? |
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May 31 2006, 10:09 PM
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#3
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Elite
4,210 posts Joined: Jan 2003 From: Malaysia
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Is it true if I had a Sdn Bhd and any legal disputes were to be brought up, I'll only be sued for all assets of my company and not personal assets like my house or my car and etc..?
Actually, could I get a rough idea of what kinda assets that could be liquidated or be claimed when bankrupt later or if someone sued until there isn't money left?  Thanks. |
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May 31 2006, 10:27 PM
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#4
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Elite
4,210 posts Joined: Jan 2003 From: Malaysia
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I was reading quite a few articles provided at ReadyCompanies.com (didn't like the idea of the Registered Office being there though) and I noticed for a Sdb Bhd the expenses goes something like this.
Fees paid annually: - company tax - auditing - company license Fees paid monthly: - secretarial fees I know I'm missing a few others, anyone can help me out here? Thanks. |
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Jun 10 2006, 10:38 AM
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#5
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Elite
4,210 posts Joined: Jan 2003 From: Malaysia
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* offtopic *
QUOTE(tweak @ Jun 10 2006, 02:41 AM) I would be interested to know also, how to setup a website to sell services...legally not the illegal type..thanx Determine the type of service/product you want to sell, visit the http://forum.lowyat.net/index.php?showforum=119 thread and then find someone suitable for the job and your budget.If you need more advice, just PM me and I'll pass you my MSN to consult you. |
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