LLP Registration
In Malaysia
Limited Liability Partnerships (LLPs) in Malaysia offer a blend of corporate and partnership benefits, providing flexibility and protecting personal assets from business liabilities. To register an LLP, you need to choose a unique name, appoint partners, and submit the required documents to the Companies Commission of Malaysia (SSM). This structure allows for streamlined business management while ensuring legal protections.
Within Our Services
We provide comprehensive services to assist you at every stage of managing your Limited Liability Partnership (LLP).
Eligibility Assessment
Ensure your existing business meets the requirements for conversion.
Drafting an LLP Agreement
Create an agreement outlining the roles and responsibilities of partners.
Filing with SSM
Submit the necessary documents, including the application for conversion, to the Companies Commission of Malaysia (SSM).
Dissolution of Previous Entity
If converting from a partnership or sole proprietorship, the original entity must be dissolved.
Registration
Once approved, the LLP will be registered, providing partners with limited liability protection and allowing for smoother operations.
How does LLP works in Malaysia
To set up an LLP in Malaysia, compliance with the Companies Commission of Malaysia's regulations is essential. This includes registering the LLP with SSM (Suruhanjaya Syarikat Malaysia), submitting necessary documents, and obtaining required licenses and permits, along with meeting other legal obligations.
A significant benefit of an LLP is that partners can actively participate in managing the business while still being shielded from the company’s liabilities. Furthermore, LLPs do not face mandatory audit requirements.
Requirements to Register a LLP
Partners
A minimum of two partners, who can be individuals or corporate entities, with at least one partner being a resident of Malaysia.
LLP Agreement
A formal agreement outlining the rights, responsibilities, and management structure of the partners within the LLP.
Compliance Officer
One compliance officer to ensure adherence to legal and regulatory obligations, helping to safeguard the LLP and promote good governance. One partner is able to step in as compliance officer.
Compliance with Legal Requirements
Adherence to any additional regulatory requirements, such as licenses or permits depending on the nature of the business.