Corporate checking account

[Pillow]

My friend set up a company in M'sia but was told not foreigner cannot be signatory for the cheque account even if he is a director of the company. Is it true? Only malaysia can sign the cheque ah?

 

[kawan2sgmy]

My friend set up a company in M'sia but was told not foreigner cannot be signatory for the cheque account even if he is a director of the company. Is it true? Only malaysia can sign the cheque ah?

Pls check with the company secretary, the person who help you set up the Sdn Bhd company.

You may refer to this link, hope it is of some help:

http://www.3ecpa.com.my/incorporation/guide-to-malaysia-company-registration/

Guide to Malaysia Company Registration in Malaysia
LOCAL COMPANY INCORPORATION GUIDELINES
INCORPORATION OF A COMPANY MALAYSIA
The two types of companies that can be incorporated under the Companies Act 1965 (CA 65) are:
1. A company limited by shares
2. An unlimited company
1. COMPANY LIMITED BY SHARES
A company having a share capital may be incorporated as a private company (identified through the words ‘Sendirian Berhad’ or ‘Sdn. Bhd.’ appearing together with the company’s name) or public company ‘Berhad’ or ‘Bhd’ appearing together with the company’s name).
The requirements to form a company are:
(i) A minimum of two subscribers to the shares of the company (Section 14 CA);
(ii) A minimum of two directors (Section 122); and
(iii) A company secretary who can be either :
• An individual who is a member of a professional body prescribes by the Minister of Domestic Trade Cooperative and Consumerism; or
• An individual licensed by the Companies Commission of Malaysia (SSM)
Both the director and company secretary shall have their principal or only place or residence within Malaysia.
A. INCORPORATION PROCEDURES
1. Application of Name Search
A name search must be conducted to determine whether the proposed name of the company is available. Refer to Government Gazette No. 716 dated 30 January 1997, Gazette (Amendment) dated 11 October 2001, Guidelines For Naming A Company and Guidelines For Application Of A Company Name. The steps involved are:
(i) Completion and submission of Form 13A CA (Request For Availability Of Name) to SSM; and
(ii) Payment of a RM30.00 fee for each name applied.
Where the proposed company’s name is approved by SSM, it shall be reserved for three months from the date of approval.
2. Lodgement of Incorporation Documents
Incorporation Documents (as further explained in Part B below) must be submitted to SSM within 3 month from the date of approval of the company’s name by SSM, failure of which a fresh application for a name search must be done. (Steps (i) and (ii) above shall have to be repeated).
B. INCORPORATION DOCUMENTS TO BE LODGED WITH SSM
1. Memorandum and Article of Association
An original of the Memorandum and Article of association shall each be stamped at RM100.00. Stamps are affixed at the Inland Revenue Board’s stamp office.

 

[RedsYNWA]

My friend set up a company in M'sia but was told not foreigner cannot be signatory for the cheque account even if he is a director of the company. Is it true? Only malaysia can sign the cheque ah?

Of course not true lah.........

 

[Ambulance]

halo ask JLO sign 4 yew loh

 

[RedsYNWA]

halo ask JLO sign 4 yew loh

Jho also ask a Singaporean to sign most of his documents, so dont worry man, Singaporean sure can sign! haha

http://www.sarawakreport.org/2015/02/jho-lows-people-a-life-in-the-day/