Just like a car, a company once created is required by the Companies Act to be maintained every year, and for these there are fees involved. Unlike car which can break down if not maintained regularly, a company can be liable for a fine or struck off the register if the maintenance required are not done on time. Its Company Secretary can be liable to a fine and blacklisting too. So what your company is required to do annually on time are,

  1. Hold an Annual General meeting,
  2. Lodge an Annual Return together with the Audited Account with the Companies Commission one month before the AGM. But if the company’s shareholders are not more than 20, and none is a corporation (exempt private company), it need not lodge Audited Account and only need to lodge a certificate signed by the Director, the Company Secretary and the Auditor stating that the company is an exempt private company, its Audited Account complies with the provisions of the Companies Act and has been tabled in the company’s AGM, and the company is able to meet it liabilities.
  3. Lodge the following statutory documents whenever there are changes made in its registered particulars;
    1. FORM 49 – If there is change of Directors, Managers or Secretaries,
    2. FORM 44 – If its Registered Office or Office Hours is changed,
    3. FORM 24 – If there is any dealing made in its shares,
    4. FORM 11 – Whenever the company passed a resolution,
    5. FORM 25 – If shares were allotted otherwise than for cash,
    6. FORM 27 – If any preference shares were redeemed, and
    7. FORM 28 – If the company increased its share capital.

 

Here at Law & Commerce, our fees are roughly as follows;
 

NO ITEMS FEE – RM
1 Lodging Annual Return with the Companies Commission 150
2 Company Secretary’s annual retainer fee at RM60 a month 720
3 Fees for secretarial work the company requests it to do from time to time such as preparing resolution, lodging statutory documents and legalization of documents. Can range from RM70 to thousands of ringgit.
4 Disbursement fees like courier charges, printing etc. 100
5 Accountant’s fee to prepare the company’s account Depending on the service provider and the amount of work. Can range anything from RM200 to thousands of ringgit.
6 Auditor’s fee to audit that account afterwards
7 Tax Agent’s fee to handle the company’s taxation matters