QUOTE(kelvinbluesky @ Feb 15 2017, 07:14 PM)
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.
Changing biz owner in enterprise business, Suruhanjaya Syarikat Malaysia
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Feb 15 2017, 07:59 PM
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Senior Member
4,456 posts Joined: Mar 2012 |
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Sep 18 2019, 05:55 PM
Show posts by this member only | IPv6 | Post
#22
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Junior Member
641 posts Joined: Jun 2016 |
QUOTE(coolstore @ Feb 6 2017, 10:40 AM) yes, can save more for SME. 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 moneythose 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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Sep 18 2019, 07:56 PM
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All Stars
14,359 posts Joined: Oct 2004 |
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 Yearly fee min 2000-2500.. |
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Sep 18 2019, 08:15 PM
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All Stars
13,204 posts Joined: Mar 2015 |
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 accounting audit is a requirementcannot 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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Sep 18 2019, 09:21 PM
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#25
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Junior Member
641 posts Joined: Jun 2016 |
QUOTE(MUM @ Sep 18 2019, 08:15 PM) accounting audit is a requirement 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.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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Sep 18 2019, 09:47 PM
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All Stars
13,204 posts Joined: Mar 2015 |
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. 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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Sep 18 2019, 10:19 PM
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#27
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Junior Member
641 posts Joined: Jun 2016 |
QUOTE(MUM @ Sep 18 2019, 09:47 PM) normally it is advise able to limits one liabilities as anything can go wrong.... yea..never thought of this.i have to further read details on this.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? 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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Sep 18 2019, 10:27 PM
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All Stars
13,204 posts Joined: Mar 2015 |
QUOTE(peigeng @ Sep 18 2019, 10:19 PM) yea..never thought of this.i have to further read details on this. googled and found 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? just not sure if there is any latest changes.... http://lampiran1.hasil.gov.my/pdf/pdfam/PR_3_2014.pdf Attached thumbnail(s) |
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Sep 18 2019, 10:40 PM
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#29
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Junior Member
641 posts Joined: Jun 2016 |
this helps.thanks.
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