Enterprise
Registration of Business Act 1965 (ROBA 1965) is the act used by the business operated in West Malaysia including Peninsular Malaysia and Federal Territory while in Sabah and Sarawak, the registration of businesses is accordance to Sabah Trades Licensing Ordinance 1948 and Law of Sarawak 1958 respectively. Business that may be registered under the ROBA 1965 is a business that include trade, commerce, craftmanship or other activity carried on for the purpose of gains. Pursuant to ROBA 1965, there are two types of business which is
1) Sole proprietorship – a business wholly owned by a single owner
2) Partnership – a business owned by at least two (2) persons and not more than twenty (20) partners
Differences between Enterprise and Company
|
No |
Specification |
Enterprise |
Company |
|
1 |
Rules & Regulations |
Registered under Registration of Business Act 1965 (ROBA 1965) |
Registered under Companies Act 2016 |
|
2 |
Type of business |
– Sole Proprietorship
– Partnership |
– Limited and unlimited company – Public and private company |
|
3 |
Owner(s) of the business |
– Individual – Partners |
– Member/ shareholder – Individual or bodies corporate or both |
|
4 |
Life expectancy |
Until the owner is dead or closed the business |
By strike off or winding up |
|
5 |
Limitation of Liability |
Unlimited liability |
Limited liability |
|
6 |
Statutory Audit Requirement |
Not require to be audited |
Compulsory to be audited |
|
7 |
Compliance & Submission to SSM |
Not Applicable |
Audited Financial Statement and Annual return |
Requirement to register an enterprise
1) The owner or partners is Malaysian Citizen or Permanent Resident in Malaysia
2) The owner or partners is 18 years old and above
3) Only the owner or partners can submit the application of business to be registered
Procedure to register an enterprise
1. Business may be registered using personal name or using a trade name.
The personal name as stated in identity card is not required to apply for business name. In addition, if the business is using a trade name, the name shall obtain prior approval from the registrar of business.
Guideline to choose a business name can be found here,
2. The applicant must complete the Business Registration Form (FORM A)
The information required in Form A are:
i. the business names
ii. commencement date of the business
iii. principal place of the business
iv. The business branch (if any)
v. Information on owner and partners
vi. Business nature
vii. Copy of the Partnership Agreement (if any)
3. The completed form needs to be sent via counter or online by the owner and all the partners
4. Attached the form with a supporting document such as:
i. Permit, license or supporting letter for the type of business
ii. Approval or supporting letter from relevant agency if required by the Registrar of Business
Procedure to register an enterprise
The registration of an enterprise can be done by using a EzBiz Website by:
1. Activate EzBiz Account
i. Click on http://ezbiz.ssm.com.my/ and sign up the account
ii. Verify your account by uploading the copy of identification card, picture with the identification card, an official document such as driving license, passport, birth certificate, utilities bills or any official document by the name of the owner
2. Register an enterprise
i. Click on NEW BUSINESS under NEW BUSINESS REGISTRATION
ii. Complete New business registration form (FORM A)
iii. Clarified the registration fees
iv. Receive a notification regarding on the application
v. Business Registration Certificate can be obtained within 1 hours after the payment is made.
To know more on the registration process, click here ( https://www.youtube.com/watch?v=EJqoySArPLU )
Registration fee
|
No |
Matters |
Fee (RM) |
|
1 |
sole proprietor using a personal name as stated in the identity card |
30 |
|
2 |
Sole proprietor or partnership using trade name |
60 |
|
3 |
Registration of branches |
5/branch |
|
4 |
Business Information print out |
10.60 |
References Links
https://ecentral.my/ezbiz-ssm-online/
https://malaysiabiz.net/panduan-daftar-ssm-ezbiz-terkini/
https://malaysiabiz.net/panduan-daftar-syarikat-enterprise/
https://www.youtube.com/watch?v=EJqoySArPLU
https://www.ssm.com.my/bm/Pages/Legal_Framework/Registration-of-Business-Act.aspx