Business Bank Account in Malaysia

Individuals or businesses may choose to buy a Shelf Company for several reasons, including:

• To save time on the incorporation process.

• To have a company with an established registration date, which can enhance credibility.

• To bypass certain regulatory hurdles associated with starting a new business.

Yes, you can change the name of a Shelf Company after purchasing it. This typically involves filing the appropriate forms with the Companies Commission of Malaysia (SSM) and may require a name search to ensure availability.

Yes, buying and selling Shelf Companies is legal in Malaysia, provided that all transactions comply with the Companies Act and relevant regulations.

Yes, even though a Shelf Company may not have been actively conducting business, it still has ongoing obligations, such as filing annual returns and maintaining accurate records as required by the Companies Act.

Yes, once you have purchased a Shelf Company and updated the necessary information, you can use it to apply for business licenses and permits as required for your specific business activities.

While shelf companies can be used across various industries, certain regulated industries may have specific requirements that must be met. It is advisable to check with relevant regulatory bodies before proceeding.