Malaysia Company Bank Account Opening

Opening a corporate bank account in Malaysia is critical for overseeing corporate financial operations and conducting routine commercial transactions. Following incorporation, companies should establish a corporate bank account to deposit share capital, facilitate daily transaction activities, process revenue receipts from customers, and disburse vendor payments. Furthermore, these accounts are equipped with specialized facilities to enhance business financial management, including foreign currency services, cheque issuance, and overdraft provisions.

Malaysia’s banking sector is robust and offers a wide range of corporate banking solutions tailored to support businesses of all sizes. Tannet are here to help guide you through the process.

Key Benefits of Establishing Bank Accounts in Malaysia

• Jurisdictional Diversification
• Liquidity Management Efficiency
• Enhanced Data Protection Protocols
• Confidentiality
• Global Portfolio Diversification
• Foreign exchange service benefits
• Scalable Financing Solutions
• Wealth Preservation Frameworks

Strategic Benefits of Utilizing Tannet’s Appointment Coordination for Account Initiation

• Tannet’s Banking Partnership & Service Excellence
• Tannet maintains enduring strategic alliances with leading Malaysian banking institutions.
• Receives consistently high performance evaluations from bank agency internal secretariats, with industry-wide commendations for service reliability.
• Delivers precise and actionable guidance on corporate account establishment protocols.
• Provides real-time progress monitoring of approval workflows and post-approval operational consultancy.

Required Documents

• Company registration particulars, such as Company Registration Certificate, Constitution, Incorporation Form or Annual Return, etc
• Identification of shareholders, directors, signers and proof of address in the last 3 months
• Business proof materials such as orders, purchase and sales invoices, contracts, bills of lading, etc
• Registration particulars of affiliated company
• Personal and affiliated company’s bank transaction records in the last 3 months

Methods of Opening Bank Account in Malaysia

Method 1: In-Person Application

Procedure: Directors attend a Malaysian banking institution physically.

Timeline: Mandatory signature formalities completed same-day; account activation typically finalized within 20 business days (subject to institutional approval).

Method 2: Remote Video Verification

Procedure: Directors attend a designated branch in their home jurisdiction; verification overseen by branch personnel.

Timeline: Account activation typically requires 30 business days (bank approval-dependent).

Procedures of Opening Bank Account in Malaysia

Submitting a bank account opening application

Approval by the Due Diligence Department of the bank

Final account number issued upon approval from the Due Diligence Department

Password for online banking delivered

Activating online banking password

First log-in of online banking service

ATM card and password delivered or obtained

Deposit start-up funds

CONTACT US

Tannet is in its sixth five-year development plan stage, and setting the upcoming two five-year plans. Tannet has been always devoted to providing with business solutions for investors all across the world. Should you have further inquiry, please feel free to contact Tannet at +6019-3094988, email to anitayao@citilinkia.com, visit our website https://tannet-group.net/.