Company

Limited Liability Partnership (LLP)

Enterprise

Public Company

Private Company

Conventional Partnership

Sole Proprietorship

Rules & Regulations

Companies Act 2016

Limited Liability Partnerships Act 2012

Registration of Business Act 1956

Entity name appearances

Company ended with “Berhad”

Company ended with “Sdn Bhd”

Company ended with “PLT”

Personal name as stated in the identity card or using a trade name

Owner (s) of the business

1)      Members / Shareholder

2)      Individual (natural person) or bodies Corporate or combination of both

1) Partners

2) Individual (natural person) or bodies Corporate or combination of both

Partners

Sole proprietor

No of shareholders/ partners

Min 2 shareholders and no limit for the maximum number of shareholders

Min 1 shareholder and max 50 shareholders

Minimum 2 partners and no limit for the maximum number of partners

Owner or partners must be a Malaysian Citizen or Permanent Resident of Malaysian

Legal status

Separate Legal Entity

Separate Legal Entity

Not a separate legal entity

Not a separate legal entity

Perpetual succession

Yes

Yes

No

No

Capital Contribution

Share capital from Shareholders

Partners contribution

Partner contribution

Own contribution

Responsibility for management of business

Board of directors

Partners

Partners

Sole proprietor

No of directors

Minimum 2

Minimum 1

N/A

N/A

N/A

Returns

Dividends

Shares of profit

Shares of profit

Profit of the business

Profit sharing

Follow shareholding proportion in the Company

Specify in LLP Partnership Agreement

Specify in Partnership Agreement

Entitled to all profit

Personal liability

Liability of shareholder is to the extent of unpaid shares only

To the extent of contribution only

Unlimited liability

Unlimited liability

Limitation of Liability

Limited

Limited

Unlimited

Unlimited

Company Secretary/ Compliance Officer

Qualified Company Secretary

Compliance Officer

N/A

N/A

Statutory Audit Requirement

Compulsory

Compulsory (there are also company that qualified for audit exemption)

Not Compulsory unless stated in the LLP agreement

Not required

Not required

Compliance & Submission to SSM

Annual return and Audited Financial Statements every Calendar year

Annual return and Audited/Unaudited Financial Statements every Calendar year

Annual Declaration of Solvency Statement within 90 days from the end of financial year

N/A

N/A

Registration fee

RM 1,000.00

RM 500.00

Personal Name: RM 30.00, Trade name: RM 60.00

Annual Fee

                                       Rm 200.00

(RM 150 for Annual Return, RM 50.00 for Audited Financial Statement)

RM 200.00

Personal Name: RM 30.00 per year, Trade name: RM 60.00 per year