What Is It

A Limited Liability Partnership (LLP, known as PLt in Malaysia) is an alternative business vehicle that combines the flexibility of a traditional partnership with the limited liability status of a Sdn Bhd company. It is governed by the Limited Liability Partnerships Act 2012.

Who Is Eligible

  • Minimum of two (2) partners (individuals or corporations).
  • Must appoint at least one (1) Compliance Officer (who must be a partner or a qualified secretary and reside in Malaysia).

    • Required Documents

  • Proposed LLP Name: (Ends with 'PLT').
  • MyKad / Passport: Copies for partners and compliance officer.
  • Registered Address: Office address in Malaysia.
  • LLP Agreement: (Optional; if none, the default rules under the Act apply).

    • Step-by-Step Procedure

    1. MyLLP Portal: Register an account on the MyLLP portal (myllp.com.my). 2. Name Reservation: Check availability and reserve the proposed LLP name (fee: RM30). 3. Submit Registration: Fill in partnership details, business activities, and profiles of partners and compliance officer. 4. Pay Registration Fee: Pay the incorporation fee of RM500 online. 5. Approval: Upon approval, SSM issues a Registration Notice.

    Cost & Processing Time

  • Cost: Name reservation: RM30. Registration fee: RM500 (significantly cheaper than Sdn Bhd).
  • Processing Time: Typically processed in 2 to 3 working days.

    • Where to Apply

  • SSM MyLLP Portal: Online (myllp.com.my) or SSM service counters.

    • Important Notes

  • An LLP has no requirement for audited financial accounts (unlike Sdn Bhd) but must submit an Annual Declaration to SSM every year.