Short answer. After incorporation, appoint your company secretary, set up the statutory registers, hold the first board meeting, open a bank account, register for tax and any employer or SST obligations, start bookkeeping and note your first deadlines. Doing this in the first few weeks avoids most first-year compliance problems.
Axecta provides company incorporation for companies across Malaysia. Talk to our team.
In this article
- Statutory registers and first board resolutions
- Bank account and initial capital
- Tax registration and accounting set-up
- Employer registrations if you hire
- Sales and service tax and e-invoice checks
- Licences and approvals
- First-year deadlines
- Handover to a secretary and accountant
- A week-by-week plan
- Tax items to plan for in the first year
- SST check
- Frequently asked questions
Statutory registers and first board resolutions
Once the Certificate of Incorporation arrives:
- Confirm the company secretary is appointed and recorded.
- Set up the register of members, directors, secretaries and other registers.
- Issue share certificates where applicable.
- Hold the first directors’ meeting or sign written resolutions to adopt the registered office, appoint the auditor if needed, approve the bank account, set the financial year-end and authorise signatories.
Bank account and initial capital
Open a company bank account. Banks require the incorporation documents, directors’ identity and board resolutions, and they ask about the business activity. Pay in the share capital as agreed and record it. Keep personal and business money apart from day one.
Tax registration and accounting set-up
Need this done for you? Axecta’s company incorporation team can handle this for your company. See the company incorporation service.
- Confirm the company’s income tax reference with LHDN.
- Choose accounting software and set up the chart of accounts.
- Decide on the financial year-end with your accountant.
- Start recording transactions and filing source documents from the first day. See monthly bookkeeping vs annual accounts.
Employer registrations if you hire
If you employ staff, register as an employer with KWSP (EPF) and PERKESO (SOCSO and EIS), and set up PCB deductions with LHDN. Prepare employment contracts and payslips. See employer payroll obligations.
Sales and service tax and e-invoice checks
Check whether your activity and turnover mean you must register for Sales and Service Tax with the Royal Malaysian Customs Department. Also check when e-invoicing applies to you. See does my Sdn Bhd need e-invoicing.
Licences and approvals
Many businesses need a licence from the local council or a sector regulator. Apply before you start trading, and keep the licence renewal date in your calendar.
First-year deadlines
Put these in your calendar straight away:
- Annual return and financial statements timing with SSM.
- First CP204 estimate and Form C with LHDN.
- Monthly payroll contributions if you employ staff.
- SST returns if registered.
- Licence renewals.
The compliance checklist and the 2027 calendar help turn this into dates.
Handover to a secretary and accountant
Few founders want to run all this alone. Axecta’s company secretarial, accounting, tax and payroll teams work together, so a new company gets a single plan for the first year: registers and meetings, bookkeeping, tax registration and a calendar of every deadline.
A week-by-week plan
| Week | Actions |
|---|---|
| 1 | Confirm the secretary’s appointment (within 30 days of incorporation per SSM’s guidance); set registers; first board resolutions |
| 2 | Open bank account; fix financial year-end; choose accounting software |
| 3 | Confirm income tax registration; plan CP204 for the first basis period; register as employer if hiring |
| 4 | Check SST and e-invoice status; apply for licences; schedule monthly bookkeeping |
Tax items to plan for in the first year
LHDN’s CP204 page states that a new company must submit its estimate within 3 months from the date operations begin (where the first basis period is at least six months), with instalments starting from the 6th month of the basis period. Form C is due within 7 months after the close of the accounting period, per LHDN’s company page. Put both in your calendar immediately.
SST check
Customs’ registration page sets registration thresholds by category. For sales tax on taxable goods manufacturers, it states RM500,000 of sales value over a 12-month period; service tax thresholds are set per service group, with some at RM500,000 and food and beverage services at RM1,500,000. Some services have no threshold. Check your category. See Does my Sdn Bhd need e-Invoicing? for the parallel e-invoice check.
Frequently asked questions
What are the first steps after registering?
Appoint the secretary, set up the registers, hold the first board meeting, open the bank account and start bookkeeping.
Do I need to open a bank account?
A company needs its own account to separate finances and to receive and pay money properly.
When do I start accounting?
From the first transaction. Records should be kept from day one so year-end is easier.
What must I file in the first year?
Annual return and financial statements with SSM, tax filings with LHDN, and payroll or SST items if they apply. Axecta can manage these.
When must a new company file its first CP204?
Within 3 months from the date operations begin where the first basis period is at least six months, according to LHDN’s CP204 page.
Where do I check SST thresholds?
On the Customs MySST registering business page, by service category.
When do employer registrations apply?
When you employ your first covered employee. See the payroll guide.
Want the first year set up for you?
Axecta Management Services is a full-suite accounting, company secretarial and consulting firm in Kuala Lumpur, serving companies from SMEs to MNCs.
Bundle secretarial and accounting for year one
Keep reading
- Sdn Bhd Compliance Checklist in Malaysia
- Employer Payroll Obligations in Malaysia
- Monthly Bookkeeping vs Annual Accounts
- When Must a Sdn Bhd Appoint a Company Secretary?
- How to Register an LLP in Malaysia: Step-by-Step Guide
- How to Register a Sdn Bhd in Malaysia
- What Documents Are Needed to Register a Company in Malaysia?
- EPF, SOCSO and EIS Contributions Explained
- How to Register a Company: the full guide
Official sources to check
This article is general information and not legal, tax or accounting advice for your company. Rates, thresholds, deadlines and procedures change, so confirm current requirements with the sources above or with Axecta.