Many clients who came to our office have frequently raised this question: can I open bank account in Malaysia under new company?
Any company can open bank account with any bank in Malaysia subject to the respective banks’ requirements & policies. The directors are to liaise directly with the bank for application of opening bank account.
Most Banks in Malaysia have recently tightened up the process of opening company’s bank account. As refer to the recent development, a foreigner who would like to be the authorised signatory of the company bank account must possess valid business/working visa/permit, failing so he is not allowed to be the cheque signatory.
However, some banks may consider to grant exemption based on case to case basis but we are unable to know their basis of doing so.
VERY IMPORTANT NOTE:
Kindly visit any banks and clarify with the relevant bank officers for the application of opening company’s bank account before registering your new company in Malaysia.
You may be caught in the situation of unable to open bank account under your new company.
According to Maybank, CIMB, Ambank, HSBC, RHB & Public Bank, any one that is holding Student Visa is also not allowed to be the cheque signatory of the Company.
Foreigners who are holding visit visa may also find themselves in a situation where they can not be the authorised persons to sign the company’s cheque.
We are a 100% foreign owned new company registered in Malaysia is going to start business and already taken the shop and office in Shah Alam and completed the tenancy deed; now we are willing & its a need to open a bank account in the name of our company. How can we do it easily? And which bank and branch will be convenient?
For obtaining of my director visa it will take some time. But to bring money and staring of operation of business opening of bank account is a must. plz advice.
Dear sir ,
We are doing business @Bangladesh having its entity as private limited company. Now we wish to expand our business in Malaysia either by establishing a franchisee or same company ( established in BD)or newly registered in Malaysia. Please help us till the commencement of our business in Malaysia or let us know the professionals that may help us in terms of co. registration, visa, tax, business consultancy etc . You may provide us contact # of any consultant.
Thanks,
Jahangir
+8801711080318