How to strike off a company in Malaysia?

In order to deregister a company in Malaysia, the company must comply with Section 549 of the Companies Act 2016 under the regulation of the Companies Commission of Malaysia (SSM). As experienced providers of corporate and offshore services for many years, we assist clients through this process with accuracy and conformity.

The strike-off procedure is for non-trading private companies with no liabilities or assets. The company should have no legal cases against it, tax dues, or outstanding debts before applying. There would need to be a passed board resolution to authorize the intent of striking off the company.

The procedure involves the filing of Form 68 with SSM, along with a statutory declaration confirming that the company is satisfying all the terms laid down under the law. Additional documents like statements of accounts and tax clearance certificates may be asked for in order to establish that the company is fully inactive and solvent.

Once the application is processed, SSM will issue a public notice in the government gazette. Subject to no objections within 30 days, the company will be officially struck off the register. The entire process normally takes three to six months.

Striking off is a good and cost-efficient option for companies looking to exit the Malaysian market. It needs to be done through the right documentation and adherence to the law. Our professionals provide turnkey solutions for a smooth and risk-free company striking off in Malaysia.