Are you starting a business in Malaysia? Have you thought about hiring a company secretary to help you manage your business? Many business owners neglect this important role, but it can actually save you a lot of trouble in the long run. In this article, we’ll explore the reasons why hiring a company secretary is crucial for your Malaysian business.
Why a Company Secretary is Important
The Companies Act 2016 requires all Malaysian companies to appoint a company secretary within 30 days of their incorporation. The company secretary is responsible for ensuring that the company complies with all the legal requirements set out by the Companies Act 2016, and they act as a liaison between the company and the Companies Commission of Malaysia (SSM). Here are some of the main reasons why a company secretary is crucial for your Malaysian business:
Compliance with Legal Requirements
The Companies Act 2016 contains many legal requirements that must be followed by Malaysian companies. A company secretary can help ensure that your business complies with these requirements, such as maintaining accurate records and submitting necessary documents to the SSM. Failure to comply with these requirements can result in hefty fines or legal action against your business.
Efficient Management of Company Affairs
A company secretary can help you manage the administrative side of your business. They can help you keep track of important dates and deadlines, such as annual general meetings and tax filing deadlines. This can help you avoid late fees and other penalties.
Expert Advice and Guidance
A company secretary can provide expert advice and guidance on various business matters. They can help you navigate legal and regulatory requirements, provide guidance on best practices, and offer insight into industry trends. This can help you make informed decisions about your business.
Having a company secretary can provide much-needed relief for business owners, especially in terms of legal and administrative matters. With someone to handle compliance and administrative duties, business owners can focus on the core activities of the company to grow and succeed.
Malaysia Company Incorporation
One of the main roles of a company secretary is to help with Malaysia company incorporation. Incorporating your business in Malaysia requires several steps and legal procedures, including registering with the SSM. A company secretary can help ensure that your incorporation process is completed properly and in a timely manner.
Another important task that a company secretary can help with is SSM registration. This involves registering your business with the Companies Commission of Malaysia, which is a legal requirement for all businesses operating in Malaysia. A company secretary can help ensure that your registration is done accurately and on time.
Hiring a company secretary is crucial for your Malaysian business. Not only can they help you comply with legal requirements and manage administrative tasks, but they can also provide valuable advice and guidance. As a business owner, you want to focus on growing and succeeding in your industry, and having a company secretary can give you peace of mind that your business is in good hands.
Therefore, it is important to seek professional assistance from a corporate service provider, like 3E Accounting Malaysia, to help you with your company secretary needs. Don’t wait until it’s too late – invest in a company secretary to help your business thrive.
The importance of a company secretary in a business cannot be overstated. With their help, business owners can ensure compliance and efficient management of administrative tasks, allowing them to focus on growth and success.