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Chat Business Bosses Come In, Do I need a Sdn. Bhd?

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lucifah
post Feb 12 2022, 03:16 PM

St. Fu
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From: Soviet Sarawak


QUOTE(Timber @ Feb 12 2022, 03:02 PM)
Wanna find the wisdom of the many. For those who own business, do you register yours as Sole Proprietor or as Sdn. Bhd? I saw an add by BOSSBOLEH where it's easier to start your Sdn. Bhd. online and low commitment fee.

I have been running a side business using Sole Proprietor trade name for quite sometime now and over the last 2-3 years, business has been picking up and I think it's a matter of time I can go full time running it.

So I want to ask, any real benefit going Sdn. Bhd rather than continue on using my current Sole Proprietor business?

I am

1) Very comfortable at what I am now. I am looking to expand, but perhaps keeping it small due to the nature of my business niche. I am so far still one man show, not intending to hire any worker to keep my cost low ( and sleep well at night)

2) My business if more on consultation project kinda basis, so there is no need to have an actual office. I operate from home, and where there is a need I meet with potential clients on site.

I am no way a successful businessman, so looking at those who has "arrived" to point me the way.
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u need to do your homework

sdn bhd needs a full time company secretary, and AGM submitted to ROS and bla bla bla

your company account must be audited and many many many more rules

if u work from home and is one man show, stay with sole prop

i hope u did convert your tax file to B and pay your taxes accordingly, both from salaried and business income
lucifah
post Feb 12 2022, 03:24 PM

St. Fu
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QUOTE(Intimidated @ Feb 12 2022, 03:17 PM)
There are virtual secretary services now

BossBoleh is one of them
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yes i know. u still need to pay for the services, every month


QUOTE(tikaram @ Feb 12 2022, 03:19 PM)
limited partnership sendiri appoint sendiri jadi officer ganti company sectrary. brows.gif
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LOL. not secretary that u can pick up anywhere at market one la... this is SSM registered ones la... got certification one... LOL

https://www.ssm.com.my/Pages/Licensed_Secre...ecretaries.aspx
lucifah
post Feb 12 2022, 03:33 PM

St. Fu
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From: Soviet Sarawak


QUOTE(Timber @ Feb 12 2022, 03:26 PM)
I kept a simple in/out acc and file it under personal income bracket as other incomes. I believe I pay more tax than I should this way.

Otherwise, please be so kind to show me what to do. Some articles or tutorial that I can read up from?
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LOL. everyone believes they pay tax more than they should (i think i should pay for an axia every year, but LHDN thinks i should pay for a vios every year)

anyway, u can google many many places to teach

if u need to be spoon fed, i guess keeping it under sole prop is the best. just make sure you convert your tax filing to FORM B - not BE ya

sort your tax filing first. LHDN like to dig deep now





lucifah
post Feb 12 2022, 03:38 PM

St. Fu
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QUOTE(tikaram @ Feb 12 2022, 03:34 PM)
no la

Limited partnership can appoint one partner act as compliance officer.

Only need submit 2 docs per year to ssm

no need company sectrary la. many dont know  brows.gif
*
itu LLP. kawan tanya Sdn Bhd

2 diff thing

i only answer apa TS tanya. SP vs SB
lucifah
post Feb 12 2022, 03:46 PM

St. Fu
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From: Soviet Sarawak


QUOTE(tikaram @ Feb 12 2022, 03:40 PM)
I am much better  brows.gif

expanding to limited liability partnership la

kesian your knowledge is worst then me. retire uncle sweat.gif
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ayam retired. LOL. thanks for asking



 

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