Thus began my new business story in 2019, after failing and having to close one of my LLPs in 2016. So, because of my own experience of opening a Limited Liability Partnership (LLP), I want to share why and how I opened and registered the LLP with my business partner.
Before I start, I believe many are interested in choosing the Limited Liability Partnership (LLP) entity over Private Limited (Sdn Bhd) because it is more economical because you do not need to hire a company secretary and do not need to do an audit, but still have almost the same advantages as an Sdn Bhd.
For those who do not know what an LLP is, a Limited Liability Partnership (LLP), is a new business entity that combines the characteristics of a company and a conventional partnership. If you want to know more about the advantages and why I opened an LLP, compared to Sdn. Bhd, you can read it at this link.
For information, LLP registration can also be done by yourself without having to get help from others and you can get savings of up to RM1,600 if you do it yourself, or DIY “Do-it-Yourself”. For most new businesses or “startups”, RM1,600 is still quite a large value to be saved.
LLP registration can be done online and entirely from home. You can also present yourself at the nearest Companies Commission of Malaysia (SSM) office. They will help you to use the same system on the computer provided for the registration process. However, at the SSM office, you have to wait for a queue number to use the computer and it is quite uncomfortable to do it in a crowd. It is best that you do it at home or in your own office.
Although LLP registration can be done entirely online, you still need to present yourself at the nearest SSM office for the verification process of your account before you can register the LLP. I will briefly explain the steps and process of LLP registration as below:
It looks easy, but there are some other important things that you need to do correctly. This writing aims to give you an idea of the important processes before you can complete the LLP registration either at the SSM office or through your own personal computer.
To do the LLP registration process yourself, the cost is around RM500 (LLP Registration Fee at SSM) to RM600. So, I was quite surprised when there were agencies or company secretaries who charged up to RM2,000 to RM2,500 to do this process.
With a cost of RM2,500, I believe many are willing to do it themselves.
If you have made a decision to expand your business, to open or register an LLP, you have two options, either you can:
In this ebook, I have documented and listed all the important steps that you need to take so that you can do your own registration and opening of your LLP. Here is what you will learn through the DIY ebook “Do-it-Yourself Guide and Steps to Open LLP Without Agent”:
The four (4) advantages of this ebook are as follows:
There are detailed step-by-step instructions for each process and action to be taken
Instead of wasting thousands of ringgit, you can do this process yourself. Be a smart business user and entrepreneur.
Believe it or not, I almost took two months to get all the information. Don't make the same mistake as me
To get all the information, I made dozens of calls, here and there (SSM and LHDN). So, don't waste your energy like I did before
#MudahPLT ialah sebuah platform penting yang membantu dan membimbing para usahawan di Malaysia yang ingin menceburi bidang perniagaan melalui struktur Perkongsian Liabiliti Terhad (PLT) sama ada secara kecil atau besar.
Seperti kata pepatah, sedikit-sedikit, lama-kelamaan menjadi bukit.
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