Since its conceptualisation in 2009, MyCoID has been fully implemented since 16 February 2011. MyCoID effectively phases out and eliminates the various serial numbers assigned by each agency for public dealings and internal references. At present, Companies Commission of Malaysia (SSM) is waiving the subscription fee until 31 December 2011.
MyCoID was jointly developed by SSM and the Special Task Force to Facilitate Business (PEMUDAH). It refers to the company incorporation number which is used as a single source of reference for registration and transaction purposes with different Government agencies. With MyCoID, the public can use a single series of numbers derived from the incorporation number assigned by SSM for registration, reference and transaction purposes of starting a business in the following agencies:
• Inland Revenue Board (LHDN);
• Employees Provident Fund (EPF);
• Human Resources Development Fund (HRDF);
• Social Security Organisation (SOCSO); and
• SME Corp. Malaysia.
The full implementation of this system would allow the starting of business to be completed through only one procedure in one day, and this significant milestone is expected to further create a facilitative and enabling environment for the growth of businesses in Malaysia. Under the MyCoID system, users are able to conduct the search of company’s name, submission of Form 13A (request for availability of name) and Lodgement of Incorporation Documents and the Memorandum and Articles of Association.
General steps involved for the usage of MyCoID services are:
• For search of company’s name, any member of the public may be a user,and this can be done for free;
• For submission of Form 13A, any member of the public may be a user but they are required to sign up as a subscriber, and pay an annual subscription fee of RM 120.00; and
• For lodgement of incorporation documents, only a licensed company secretary who is a member of a professional body prescribed by the Ministry of Domestic Trade, Co-operatives and Consumerism or licensed by SSM can use the MyCoID system to lodge the said documents and would need to subscribe and pay an annual fee of RM 120.00.
The services provided by the MyCoID system are available 24 hours at the MyCoID portal. However, the processing of applications will be done during office hours only (8.15 am – 5.15 pm) and shall follow the Federal Government working days.
MyCoID was jointly developed by SSM and the Special Task Force to Facilitate Business (PEMUDAH). It refers to the company incorporation number which is used as a single source of reference for registration and transaction purposes with different Government agencies. With MyCoID, the public can use a single series of numbers derived from the incorporation number assigned by SSM for registration, reference and transaction purposes of starting a business in the following agencies:
• Inland Revenue Board (LHDN);
• Employees Provident Fund (EPF);
• Human Resources Development Fund (HRDF);
• Social Security Organisation (SOCSO); and
• SME Corp. Malaysia.
The full implementation of this system would allow the starting of business to be completed through only one procedure in one day, and this significant milestone is expected to further create a facilitative and enabling environment for the growth of businesses in Malaysia. Under the MyCoID system, users are able to conduct the search of company’s name, submission of Form 13A (request for availability of name) and Lodgement of Incorporation Documents and the Memorandum and Articles of Association.
General steps involved for the usage of MyCoID services are:
• For search of company’s name, any member of the public may be a user,and this can be done for free;
• For submission of Form 13A, any member of the public may be a user but they are required to sign up as a subscriber, and pay an annual subscription fee of RM 120.00; and
• For lodgement of incorporation documents, only a licensed company secretary who is a member of a professional body prescribed by the Ministry of Domestic Trade, Co-operatives and Consumerism or licensed by SSM can use the MyCoID system to lodge the said documents and would need to subscribe and pay an annual fee of RM 120.00.
The services provided by the MyCoID system are available 24 hours at the MyCoID portal. However, the processing of applications will be done during office hours only (8.15 am – 5.15 pm) and shall follow the Federal Government working days.
This article is adapted from the MWB Vol.138 19 April 2011