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Beneficial ownership register for a new Sdn Bhd

What is this beneficial owner register SSM is asking for?

The situation

Companies must identify the individuals who ultimately own or control them and keep a register of beneficial owners. SSM collects this information.

The law

  • Sec 60A, Companies Act 2016: Register of beneficial owners kept and reported to SSM

What it means for you

A beneficial owner is usually someone who owns or controls 25% or more of shares or votes, or who otherwise controls the company. Where a shareholder is a company, you look through to the individuals behind it. Keep the register current and report changes to SSM within the set time.

What to do

  1. List every shareholder and look through corporate shareholders.
  2. Identify individuals with 25% or more or effective control.
  3. Record them in the register.
  4. Lodge the information with SSM and update on changes.

We can do this for youIncorporate a Sdn Bhd and complete first-month set-up: MYR 900

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