306. REGISTERING YOUR E-BIZ WITH THE COMPANIES COMMISSION OF MALAYSIA (SSM)

Received several enquiries pertaining to my earlier posting on errant e-biz operators. Just to be doubly sure on the right course of action to pursue, we trooped to the office of Companies Commission Malaysia (Suruhanjaya Syarikat Malaysia) at the Greentown Mall, Ipoh last Tuesday. 

We were there two Tuesday ago (before the posted article) to register LT Watch Gallery as a sole proprietor enterprise specifically for online watch trading.

That bit of news as reported by the Star was a timely reminder and we thought it wise to revisit the SSM office and enquire what more need to be done. Prior to the registration of LT Watch Gallery as a sole proprietor enterprise dealing with watch trading, all products turnovers were reported in our private company's accounts. 

At the SSM, Ipoh, the officers on duty were extremely courteous and helpful providing whatever assistance and information required. The lady officer on duty at the counter today immediately recognised me and enquired the purpose of today's visit. 

That prompted me to show the STAR article. We were told we have satisfied the SSM requirement by registering LT Watch Gallery. 

What we need to do further is to maintain a proper set of accounts on all e-business transactions and proper upkeeping of all documentation pertaining to purchases, services and sales.  

We were then referred to another lady officer who obliged with  all information needed. 

1. Registration of E-Biz

Peninsular Malaysia and Labuan

E-Biz operators can register their business entity at the nearest Suruhanjaya Syarikat Malaysia's (SSM) office. Bring along your IC, a photocopy of the IC plus the proposed name of E-Biz. The fee is RM 70 for the first year and thereafter a fee of RM 60 per annum upon renewal. 

Operators of e-biz have the choice of choosing to operate as a sole proprietor, partnership or a Sdn Bhd. If a Sdn Bhd entity is preferred then filing of company registration with a minimum of two promoters and a stated paid up capital need to be done by a qualified Company Secretary as provided in the Companies Act, 1965.

Products offered for online sales must be legally traded within the context of all Malaysian and International Laws.

For an e-biz with a small turnover, I suggest a sole proprietorship enterprise is adequate.

Registration can be conducted over the counter by coming personally to SSM office or online via E- Lodgement.

For further details, please log in at SSM website@ http://www.ssm.com.my

2. Sabah and Sarawak

E-Biz operators in Sabah and Sarawak wishing to register their online business need to do so at their respective Pihak Berkuasa Tempatan(PBT) or Local Authorities like Majlis Perbandaran Bintulu for someone in Bintulu or Dewan Bandaraya Kuching Utara for someone in Bandaraya Kuching Utara.

This piece of information was provided by the lady officer at the SSM, Ipoh office.

Details of registration fees at the PBTs are not available at the SSM office.
 

3.Process of Registration

The whole process of registration only took two hours from the time of arrival at the SSM office till the time the certificate of business is issued.

I must complement the efficiency of SSM to complete the registration process in such a simple manner and cheap too. 

No hassle and no fuss at all. Bravo SSM. 

Happy Registration to all fellow blog traders...

 

Muzill.mansor