open a bank account in malaysia
TRANSCRIPT
Open a bank account in Malaysia
A presentation brought to you by CompanyIncorporationMalaysia.com
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Corporate bank account in Malaysia
When setting up a company in Malaysia, foreign investors are required to open a corporate bank account for the respective company.
Foreign investors can open a bank account in Malaysia if they provide several documents.
The documents can vary based upon the internal policies followed by the financial institution with which they are collaborating.
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Banking system in Malaysia >>
When opening a corporate bank account in Malaysia, investors should be aware of the fact that banks can apply a different set of requirements.
Moreover, branches of the same legal entity can apply different practices.
Still, the differences are rather small, but before opening a bank account it is advisable to obtain information on the requirements of the respective bank.
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>> Banking system in Malaysia
Foreign investors should also know that, when applying for a corporate bank account, they must be the owners of a work permit issued by the local authorities.
Our team of company formation representatives in Malaysia can provide legal assistance for obtaining the necessary documents for this procedure.
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Documents for opening a bank account >> Foreign businessmen who set up companies in Malaysia can open bank accounts if they provide the following set of documents:
• complete a bank account application form;
• recommendation of an introducer;
• company’s stamp;
• copies of the passports of the company’s directors.
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>> Documents for opening a bank account
The investors will also have to provide a set of documents representing the company’s documents.
However, it is required that such documents have to be presented in the form of certified true copies.
They must be provided by the company’s secretary.
Our team of company formation agents in Malaysia can offer more details.
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Compulsory documents in Malaysia >>
The founders of newly formed companies are required to provide the following compulsory documents when opening a bank account in Malaysia:
• resolution from the board of directors for the opening of the bank account;
• list of directors;
• registered office address.
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>> Compulsory documents in Malaysia
Businessmen will also have to provide the next documents:
• memorandum;
• articles of association;
• certificate of incorporation;
• a proof of the fact the company’s directors are not bankrupt.
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Requirements for opening a bank account Both businessmen and natural persons can set up a bank account in Malaysia.
Natural persons should have residence permits.
It is important to know that the bank account can be opened in a foreign currency, if needed.
Foreign employees will need to provide an employment certificate, issued by the employer.
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Consultancy services in Malaysia The bank account is necessary for a company in order to deposit the company’s minimum share capital, which is established in accordance with the legal entity of the company.
Our team of company formation agents can offer an in-depth presentation on the business forms available here.
Please contact our team of company formation consultants in Malaysia for more details.
Thank you for your attention!
For more information please contact us at:
(+44)203-287 0408 (for international clients)
www.companyincorporationmalaysia.com
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