Why Incorporating Your Own Sdn Bhd Might be a Bad Idea
Incorporating a company (and everything that must come after) can be time consuming, especially when you’re not sure what to do. Leave it to the professionals and get peace of mind in return. Give us a call to get your company incorporated easily and quickly.
The SSM recently introduced the ability for individuals to register their own Sdn Bhd companies. This is exciting news for many new and potential business owners who, understandably, want to reduce the costs of starting a business.
However, once a company is incorporated, according to the Companies Act 2016, Section 235(1), it must engage at least one company secretary within 30 days of receiving your Notice of Registration.
Benefits of Incorporating Your Own Company
A major benefit to incorporating your own company is that you get to be a part of the process from start to finish, and in doing so you are also able to save the cost of a company secretary’s registration fee.
Drawbacks to Incorporating Your Own Company
Unfortunately, if you’re unfamiliar with the process of registration and unknowingly make an error, correcting this error might end up costing you more than you would have spent engaging a company secretary to incorporate the company on your behalf. Also, as per the Companies Act 2016, you are inevitably required to engage a company secretary within 30 days of receiving your notice of registration.
Ultimately, the decision whether to incorporate your Sdn Bhd by yourself is your own, and hopefully you’ve gained a little insight as to the pros and cons from this article. If you’re still unsure, or want to consult with us for free and find out our fees, feel free to contact us by clicking the button below.