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 Changing biz owner in enterprise business, Suruhanjaya Syarikat Malaysia

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TSBlofeld
post Feb 15 2017, 07:59 PM

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QUOTE(kelvinbluesky @ Feb 15 2017, 07:14 PM)
Yes you are right.  So how is your progress? Everything done?
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Thanks.

Not yet. Not in a rush to do it yet and need to find a time where both can come together at the same time.
peigeng
post Sep 18 2019, 05:55 PM

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QUOTE(coolstore @ Feb 6 2017, 10:40 AM)
yes, can save more for SME.

those agm mostly spent for ppl come for free refreshment...

juz still need pay auditor fees, but go pick a road side small firm lah also done

more options for ppl who don't prefer sole proprietorsip (no limited liability protectoin), limited liability partnership (hassle, partnership biz always end up being no partner and back to single ppl running...), now got single person sdn. bhd. with limited liability protection
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I am a sole proprietor.may I know what is the yearly cost of upgrading my company to single shareholder sdn bhd?How about the yearly cost eg accounting or audit is compulsory?Can it be like what I am doing right now ,just fill in e filing agak agak by my own? That's very less amount of money
jack2
post Sep 18 2019, 07:56 PM

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QUOTE(peigeng @ Sep 18 2019, 05:55 PM)
I am a sole proprietor.may I know what is the yearly cost of upgrading my company to single shareholder sdn bhd?How about the yearly cost eg accounting or audit is compulsory?Can it be like what I am doing right now ,just fill in e filing agak agak by my own? That's very less amount of money
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Yearly fee min 2000-2500..
MUM
post Sep 18 2019, 08:15 PM

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QUOTE(peigeng @ Sep 18 2019, 05:55 PM)
I am a sole proprietor.may I know what is the yearly cost of upgrading my company to single shareholder sdn bhd?How about the yearly cost eg accounting or audit is compulsory?Can it be like what I am doing right now ,just fill in e filing agak agak by my own? That's very less amount of money
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accounting audit is a requirement
cannot agar agar put in the numbers like you are doing now

why want to change to Sdn Bhd from sole proprietorship?

many would suggest instead of Sdn Bhd can try consider the LLP....
LLP is less requirements and cheaper compliance cost too than Sdn Bhd

https://www.3ecpa.com.my/incorporation/sole...hip-vs-company/

https://www.google.com/search?source=hp&ei=...Q4dUDCAU&uact=5
peigeng
post Sep 18 2019, 09:21 PM

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QUOTE(MUM @ Sep 18 2019, 08:15 PM)
accounting audit is a requirement
cannot agar agar put in the numbers like you are doing now

why want to change to Sdn Bhd from sole proprietorship?

many would suggest instead of Sdn Bhd can try consider the LLP....
LLP is less requirements and cheaper compliance cost too than Sdn Bhd

https://www.3ecpa.com.my/incorporation/sole...hip-vs-company/

https://www.google.com/search?source=hp&ei=...Q4dUDCAU&uact=5
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why change?maybe because of limited liability feature and one shareholder can apply sdn bhd.i dont know,the exact details of sdn bhd.however as i am in grocery business,do you guys think i should limit my liability?LLP is not relevant here as i am the only owner.
MUM
post Sep 18 2019, 09:47 PM

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QUOTE(peigeng @ Sep 18 2019, 09:21 PM)
why change?maybe because of limited liability feature and one shareholder can apply sdn bhd.i dont know,the exact details of sdn bhd.however as i am in grocery business,do you guys think i should limit my liability?LLP is not relevant here as i am the only owner.
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normally it is advise able to limits one liabilities as anything can go wrong....
if the cost of SDN BHD is a concern then why not bring someone in (like a wife/brother/etc) to form an LLP to make it relevant?
peigeng
post Sep 18 2019, 10:19 PM

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QUOTE(MUM @ Sep 18 2019, 09:47 PM)
normally it is advise able to limits one liabilities as anything can go wrong....
if the cost of SDN BHD is a concern then why not bring someone in (like a wife/brother/etc) to form an LLP to make it relevant?
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yea..never thought of this.i have to further read details on this.
i read the link that you provided,seems that LLP is quite similar to sole proprietor as they do not require an audit report.as for secretary ,we just have to pay a minimal amount yearly for secretary compliance and yearly earning submission to SSM. Taxation will remains the way i am doing .is my understanding for LLP correct?
MUM
post Sep 18 2019, 10:27 PM

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QUOTE(peigeng @ Sep 18 2019, 10:19 PM)
yea..never thought of this.i have to further read details on this.
i read the link that you provided,seems that LLP is quite similar to sole proprietor as they do not require an audit report.as for secretary ,we just have to pay a minimal amount yearly for secretary compliance and yearly earning submission to SSM. Taxation will remains the way i am doing .is my understanding for LLP correct?
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googled and found this....
just not sure if there is any latest changes....

http://lampiran1.hasil.gov.my/pdf/pdfam/PR_3_2014.pdf


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peigeng
post Sep 18 2019, 10:40 PM

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this helps.thanks.

 

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