What is SSM - Companies Commission of Malaysia? History, Services, How To Register
Are you a budding entrepreneur looking to start your own business? Have you ever come across the term SSM and wondered what it stands for? Well, you’re in luck! In this article, we will dive into the world of SSM, exploring its history, the services it offers, and how you can register with them. So let’s get started and unravel the mysteries of SSM!
History of SSM
The history of SSM can be traced back to its establishment in 2002 under the Companies Commission of Malaysia Act 2001 (Act 614). This act was introduced by the Malaysian government with the aim of promoting and regulating business activities in the country. The Companies Commission of Malaysia, commonly known as SSM, was created as a statutory body to oversee and facilitate the registration and administration of companies and businesses in Malaysia.
Since its inception, SSM has played a vital role in facilitating business registration and providing various services to entrepreneurs. The organization has been instrumental in simplifying the process of starting a business in Malaysia, making it more accessible and efficient for aspiring entrepreneurs.
One of the key contributions of SSM has been the introduction of an online registration system, known as the MyCoID portal. This digital platform has revolutionized the business registration process, allowing entrepreneurs to register their companies and businesses online, without the need for physical paperwork and lengthy procedures. The MyCoID portal has significantly reduced the time and effort required for business registration, enabling entrepreneurs to kickstart their ventures more quickly.
Moreover, SSM has implemented various initiatives to promote transparency and accountability in the business sector. The organization has established a comprehensive database of registered companies and businesses, which is accessible to the public. This database provides valuable information about the legal status, ownership, and financial health of registered entities, allowing stakeholders to make informed decisions when engaging in business transactions.
Since its inception, SSM has played a vital role in facilitating business registration and providing various services to entrepreneurs. The organization has been instrumental in simplifying the process of starting a business in Malaysia, making it more accessible and efficient for aspiring entrepreneurs.
One of the key contributions of SSM has been the introduction of an online registration system, known as the MyCoID portal. This digital platform has revolutionized the business registration process, allowing entrepreneurs to register their companies and businesses online, without the need for physical paperwork and lengthy procedures. The MyCoID portal has significantly reduced the time and effort required for business registration, enabling entrepreneurs to kickstart their ventures more quickly.
Moreover, SSM has implemented various initiatives to promote transparency and accountability in the business sector. The organization has established a comprehensive database of registered companies and businesses, which is accessible to the public. This database provides valuable information about the legal status, ownership, and financial health of registered entities, allowing stakeholders to make informed decisions when engaging in business transactions.
Types of
SSM Services
SSM offers a wide range of services to cater to the diverse needs of businesses and companies. These services include company registration, business registration, and limited liability partnership registration. Let’s take a closer look at each of these services:
Registration of Business
Business registration with SSM is essential for individuals and sole proprietors planning to operate their businesses legally. SSM provides a convenient online platform for registering businesses, making the process quick and hassle-free.
Registration of Company
If you’re looking to establish a company in Malaysia, SSM is your go-to authority. They offer comprehensive services for company registration, ensuring compliance with all legal requirements. Whether you’re starting a private limited company or a public company, SSM has got you covered.
Limited Liability Partnership
For those seeking the benefits of a partnership structure with limited liability, SSM provides the option to register a Limited Liability Partnership (LLP). This unique business structure offers the advantages of both partnerships and limited liability companies, making it an attractive choice for many entrepreneurs.
How to Register a Company or Business
on SSM? (in 3 steps)
The process of registering a company or business with SSM is simpler than you might think. Here’s a quick rundown of the steps:
Gather the necessary documents and information: Before you start the registration process, ensure you have all the required documents and information, such as identification documents, business address, company name, and business activities.
Choose an appropriate business structure: Decide on the type of business structure that best suits your needs. Whether you opt for a sole proprietorship, partnership, LLP, or company, make sure you understand the implications and benefits of each.
Submit your application online: Utilize SSM’s user-friendly online platform to submit your application. Provide all the necessary details and documents as required. Upon successful submission, you will receive a registration certificate, signaling the official establishment of your business or company.
Legal Framework of SSM
SSM operates within a robust legal framework, comprising various acts, regulations, and guidelines. The primary legislation that governs SSM’s functions and powers include the Companies Commission of Malaysia Act 2001 (Act 614), the Malaysian Companies Act 2016, and the Limited Liability Partnerships Act 2012. These laws ensure the smooth operation of businesses and maintain a fair and transparent business environment in Malaysia.
SSM
Publication
SSM regularly publishes comprehensive guides and resources to assist businesses and entrepreneurs in understanding the legal requirements and procedures. These publications cover a wide range of topics, including registering businesses, compliance with company laws, directors’ responsibilities, and other essential aspects of running a business in Malaysia. Taking advantage of these publications can help you navigate the complexities of the business landscape with ease.
Tender Process and Procedures
at SSM
If you’re interested in bidding for government projects and tenders, SSM provides guidance on the tender process and procedures. With their thorough understanding of the requirements and regulations, SSM can help you navigate the tendering process, increasing your chances of securing lucrative government contracts.
Contact Us Right Now to Learn More Prescon Hallmark SSM Registration Service
Ready to dive into the world of SSM? If you have any questions or require assistance with your business registration, feel free to contact us at Prescon Hallmark, your trusted SSM registration service provider. Our team of experts will guide you through the entire process, ensuring a smooth registration experience.
FAQ
What is SSM?
SSM is the Companies Commission of Malaysia, a regulatory body responsible for overseeing corporate and business affairs in Malaysia.
When was SSM established?
SSM was established in 2002 under the Companies Commission of Malaysia Act 2001 (Act 614).
What are the fees for SSM services?
The fees for SSM services may vary depending on the type of service requested. It is advisable to contact SSM or consult their official website for the most up-to-date fee structure.
What are the three types of business entities that can be registered with SSM?
The three types of business entities that can be registered with SSM are sole proprietorship, partnership, and company. These options provide entrepreneurs with flexibility and cater to various business needs.