Formation of Limited Liability Partnership (LLP) in Malaysia
Why Partner with Great CFO
Explore the key advantages of partnering with Great CFO to drive your business growth and compliance success.
Our Services for
Limited Liability Partnership (LLP / PLT)
01
LLP Incorporation & Registration
02
Compliance Officer & Registered Office
03
Annual Compliance & Post-Registration Support
04
Licensing, Bank Account & Corporate Setup
05
LLP Conversion & Winding-Up
Strengthen Your Business with Proven Expertise
Frequently Asked Questions
What is an LLP (Limited Liability Partnership)?
An LLP is a hybrid business structure combining the flexibility of a partnership with the limited liability of a company. It is governed under the Limited Liability Partnerships Act 2012 in Malaysia and is ideal for small businesses, professional firms, and joint ventures.
Who can set up an LLP in Malaysia?
- Malaysian citizens and permanent residents.
- Foreigners with a local resident partner and compliance officer.
- Professionals like accountants, lawyers, consultants, and SMEs.
- Startups looking for flexible ownership and profit-sharing without full corporate formalities.
What are the advantages of registering an LLP?
- Limited liability for partners — personal assets are protected.
- Flexible internal management and profit-sharing.
- Fewer compliance and filing requirements than Sdn Bhd.
- No mandatory audit (unless required by partners).
- Perpetual succession — not affected by partner changes.
- Suitable for professionals (law firms, accounting firms, consultancies).
What are the basic requirements to register an LLP?
- Minimum 2 partners (individuals or companies).
- At least 1 compliance officer who is a Malaysian citizen or permanent resident.
- Registered business address in Malaysia.
- Payment of registration fee (currently RM500).
Can foreigners be partners in an LLP?
Yes, foreign individuals or companies can be partners, but the LLP must have at least one compliance officer who is a Malaysian citizen or permanent resident.
How long does it take to register an LLP?
Typically, it takes 5–10 working days after submission of all required documents, subject to SSM approval.
What are the annual compliance requirements?
- File an Annual Declaration of Solvency or Insolvency with SSM.
- Maintain proper accounting and statutory records.
- Notify SSM of any changes (partners, address, compliance officer) within 14 days.
Do LLPs need to appoint auditors or submit audited accounts?
No, LLPs are generally exempt from audit unless required by the partners under the partnership agreement.
Can an existing enterprise or Sdn Bhd convert to LLP?
Yes, both can be converted to an LLP with proper filings, subject to meeting legal requirements and settling liabilities.
Can an LLP open a business bank account?
Yes, an LLP can open corporate bank accounts. We assist in preparing the required documents, resolutions, and supporting paperwork.
Can an LLP apply for business licenses and permits?
Yes, LLPs can apply for licenses, but requirements vary by business type and industry. We can advise you on specific licensing needs.
What is the difference between LLP and Sdn Bhd?
Feature | LLP | Sdn Bhd |
---|---|---|
Legal entity | Separate legal entity | Separate legal entity |
Ownership | Partners | Shareholders |
Management | Partners | Directors & shareholders |
Compliance | Annual declaration; no audit required | Annual audit, AGM, tax filing, secretarial |
Suitable for | Professionals, SMEs, joint ventures | Growing businesses, fundraising, larger operations |
How do I close or strike off an LLP?
An LLP can be voluntarily wound up or struck off if it is no longer operating. This involves settling liabilities, notifying partners, and filing with SSM. We offer full assistance for this process.
What are your service fees for LLP setup and compliance?
We offer competitive packages:
- Incorporation package: RM1,500–2,000 (including RM500 govt fee)
- Registered office & compliance officer (per year): RM700–1,000
- Annual compliance filing: RM400–700/year
- Optional services (bank account, conversion, winding-up): Quoted upon request.
Why should I choose your firm to handle my LLP?
- We provide end-to-end support, from name reservation to bank account opening.
- We ensure full SSM compliance with timely annual filings.
- We offer customized advisory for tax, accounting, and licensing needs.
- We are experienced in serving foreign clients and navigating local requirements.
LLP Cost & Pricing
Service |
Estimate |
---|---|
Incorporation (name check, registration docs, filing) | RM 1,500–2,000 (includes govt fee RM 500) |
Registered office & compliance officer (1 year) | RM 700–1,000 (plus mail handling) |
Annual compliance package (declaration + updates) | RM 400–700/yr |
Conversion / winding up services | RM 1,000+ depending on complexity |
Enquiry Now
Switching to us is simple and hassle-free. Once you’re ready, we handle everything by coordinating directly with your current provider to ensure a seamless transition.