| Company (Sdn Bhd) | Limited Liability Partnership (LLP) | Conventional Partnership | Sole Proprietor | |
| Capital contribution | Share capital | Partners' contribution | Partners' contribution | Own contribution |
| Owners of the Business | Shareholders | LLP Partners | Partners | Sole proprietor |
| Personal liability | No | No | Yes | Yes |
| Legal status | Separate legal entity | Separate legal entity | Not a separate legal entity | Not a separate legal entity |
| The party that is liable for debts of the business | Company | LLP | Partners | Sole proprietor |
| Responsibility for business management | Directors | LLP Partners | Partners | Sole proprietor |
| Minimum and Maximum number of shareholders/partners |
Minimum 1 to maximum of 50 members/shareholders (in private company) |
Minimum 2 to unlimited | Minimum 2 to maximum of 20 partners | Sole proprietor only |
| Subject to statutory audit | Yes | No | No | No |
| Required an approved secretary | Yes | No | No | No |
| Submission of Financial statements to SSM | Yes(full set) within 7 months from its year end | No (only certain items), within 3 months from its year end | No | No |
Yes, If you have ceased your operation/business, you still need to file or submit the forms to SSM and Inland Revenue Board for every year until your company is properly winding up in member voluntary basis.
| Form | Description | Deadline on |
| E | Employment | 31/03 |
| BE | Salary group (non Business) | 30/04 |
| B | Business Group (Sole proprietor/partner) | 30/06 |
| P | Partnership form | 30/06 |
| C | Company (Sdn Bhd) | 7th month from year-end |
| PT | Limited Liability Partnership (LLP) | 7th month from year-end |
| CP204 | Tax estimate | 1 month before the beginning of the next assessment year |
| CP 204A | Tax estimate amendment | 5th installment month or 6th basis period of a year of assessment |
Yes, you shall file your tax return form every year even you have no source of income to declare or not taxable as long as you have open a tax file before.
Pursuant to Companies Act, 2016 you are required to keep your records and book of accounts for 7 years, for tax purposes, you are required to keep the records and book of accounts for 6 years.
All your invoices and cash bill, official receipt, debit and credit note, supplier invoices and cash bill, supplier statement, bank statements, stock list (if applicable), payment voucher, payroll summary/slip, EPF, SOCSO, agreement and any other documents related to your business trnsactions for the period.
List of documents and information to form a Sdn Bhd or LLP are as fllows:
| No. | Description | Information and Documents needed | |
| 1 | Proposed company name (for our name search) | 1.____________________________________________________________________________ 2.____________________________________________________________________________ 3.____________________________________________________________________________ |
|
| 2 | Proposed company registered office | ||
| 3 | Party A (Director*/Shareholder*/Partner*) * cut off which is not applicable |
Party B (Director/Shareholder/Partner)* * cut off which is not applicable |
|
| 4 |
Proposed each of Directors/shareholders/Partners Name: Residential address : Email address: No of Share |
_________________________________________ _________________________________________ _____________________ordinary shares |
_________________________________________ _________________________________________ _________________________________________ __________________ordinary shares
|
| 5 |
Declaration whether: He/She is not a bankruptcy |
Yes / No |
Yes / No |
| 6 | Payment for incorporation fee | ||
| 7 | Email to nshcorp@yahoo.com | ||
