Malaysia`s GDP is expected to grow 4.8% in 2019 and continue this upward trend for 2020 as well. This shows that the economy of Malaysia has a strong foundation and is quite formidable even in the face of external headwinds. Malaysia is situated at the heart of Southeast Asia making it a perfect location for company formation if you wish to enter a vast and diverse market. There are some major industries set to boom in Malaysia in 2019 as a result of increased private consumption and private investment along with several government initiatives to make Malaysian market an attractive option compared to other Southeast Asian nations.
It is a ripe time to enter the ever-booming Malaysian market and go for company formation in Malaysia while the rest of the world is reeling under the tension of a trade war. Once you have selected a company name and registered your company in Malaysia, you might want to go for company secretarial services for the many advantages that outsourcing of such services has to offer.
5 Advantages of Outsourcing Company Secretarial Services
Company Secretarial Services are one of the most sought-out services by almost all organizations because of the enormous contribution of these to the administration of an organization. The benefits of outsourcing company secretarial services in Malaysia are-
- Precision- Outsourcing leads to precise, timely and consistent handling of all the administrative work of an organization and protects it from any non-compliance charges that might befall your company in case of late submission of important documents to the authorities or inaccurate financial reports and management reports.
- Expertise- The outsourced team has expertise and more than enough knowledge to take care of the administration. As a result, all the activities are done with more in-depth knowledge and more efficiency than your company`s in-house staff providing more time to the staff to work better on other important activities that are essential to daily operations.
- Cost-saving- Outsourcing company secretarial services leads to cost-saving that would have gone for hiring and training of in-house team without any compromise on the quality of these services as the outsourced team is generally comprised of seasoned professionals who are up-to-date with the new regulations introduced by the authorities that every company must abide by.
- Responsibility and Reliability- The well-trained and experienced outsourced team of professionals bestow upon you their expert advice and feedback on ways you can improve your business operations and where you should invest to experience the maximum profits. You can rely on the outsourced team to fulfil all your administrative requirements on time as they do their due diligence.
- Zero Risk Factor- With reliability, experience, and in-depth knowledge comes zero risk factor which is a plus for your organizational administrative requirements. Outsourced teams complete work within the mentioned timeframe. Ergo, exponentially bring down the risk of penalties, monetary losses or being blacklisted by the government authorities enhancing the goodwill of your organization in the eyes of your investors.
List of Company Secretarial Services Malaysia
Company secretarial services include a wide range of value-added services which each of which serves an important purpose on its own.
- Directorial and Officer Services- A company secretary can offer his/her expertise when it comes to corporate governance and take the helm of directorship and officer services. He/she can also help your organization to reach operational excellence by supporting the board members.
- Organizational Management- A company secretary helps run the company`s management smoothly across all jurisdiction with dedication.
- Organization health check- A comprehensive report matching and updating your company`s local public records as and when required along with maintenance of internal corporate database in accordance with the statutory laws.
- A record of Transactions- A company secretary does as per the bidding and requirement of your organization and if you require him/her to assist you with time-consuming preparation of all important transactions, then he/she will do as per your wishes.
- Document Retrieval- Retrieval of corporate documents from public registers from all jurisdictions and offices can be done in a jiffy if you outsource company secretarial services.
- Company Incorporation Services- These services also fall under the range of services that a company secretary takes care of.
- Statutory Compliance- with the ever-changing global scenario and continued Malaysian government initiatives to make everything more transparent and in compliance with the international regulatory bodies, a company secretary keeps abreast of all the changes happening on a global and a local level and makes sure that your company is in compliance on both levels.
This is just a portion of what a company secretary can do. This list must have made you think about outsourcing company secretarial services in Malaysia. At Business Setup Worldwide, we provide these services in Malaysia along with some other services that will reduce all the mundane operational issues for your company and give you and your dedicated and hard-working staff more time to focus on the core activities of your business and also possibly come up with new ones to help expand your business. For our comprehensive company secretarial services, you may contact us and give us a chance to help you out.