For individuals which have already registered their company or in the process of changing to Sdn Bhd (limited company), you will need these 4 skilled people above.
Why on earth do I need them?
- Auditors (it is a requirement under Companies Act 1965 to get your accounts audited)
- Company Secretary (same as above, you need a licensed secretary to write your minutes and keep your company statutory record, example Form 9, 24,49,44, share certs, etc)
- Lawyer (this person is not mandatory but you need someone who are proficient with the law to draft your Sales and Purchase Agreement, etc)
- Tax Agents (this person will file your tax computation to LHDN: sounds easy but there are lots of rules involved for example how do you calculate your car’s annual allowance, so forth)
Where do I find them?
You can just scroll through an online directory and find for firms which specializies in the area above. Just go to your yellow pages or maybe you can try here: http://www.yellowpages.com.my/
How much are the fees involved?
It varies for each profession, but for the normal figures I came across during work are:
- Auditor (for big audit firms auditing dormant companies: RM1,000, try out small audit firms for startups, it would be less than a RM1,000)
- Tax Agents (more or less same with auditors, but recommended small firms for startups. Tip: usually audit and tax area is in one single firm)
- Lawyer (depends on the task given: for example drafting up your Sales and Purchase agreement can be charged RM150, consult your lawyer on his fees. Usually it depends on the services he offer to you)
- Company Secretary (charges depends on the services as per lawyer, but after your company is registered, minutes draft up and submission would be around RM100)
Therefore limited company startups be aware of these operational costs which would effect your income statement. Try and contact the firms you prefer and contact them to get to know their services fees.
In the future, you may need business consultants, SAP consultants for ERP, IT Consultants or Logistics Consultants depends on your business nature. But for startups, the four categories above are most important. Good luck!