Business As General Companies in Malaysia

Business as general companies in Malaysia are required to be registered with the Companies Commission of Malaysia (SSM) and to comply with the Companies Act 2016. The types of business entities in Malaysia are sole proprietorships, partnerships, limited liability partnerships, and companies.

A sole proprietorship is the most common type of business entity in Malaysia and is owned by one person. The sole proprietor has full control of the business and is responsible for all debts and liabilities incurred by the business.

A partnership is a business entity owned by two or more persons. Partnerships are governed by the Partnership Act 1961 and are required to be registered with SSM. Partnerships are relatively easy to set up and are suitable for businesses with relatively low risks.

A limited liability partnership (LLP) is a business entity owned by two or more persons, but with limited liability for the partners. LLPs are governed by the Limited Liability Partnership Act 2012 and are required to be registered with SSM. LLPs are suitable for businesses with higher risks, as the partners' liability is limited to their investment in the LLP.

A company is a business entity that is registered with SSM and governed by the Companies Act 2016. Companies can be either private or public