KYB Supporting Document Requirements Guide for Malaysia
1. Verification Process
a. User Verification
- IDs accepted (must be a citizen or resident of the country of sign up)
- Driver’s license
- ID Card
- Passport
b. Document Verification
- Business Profile (issued by SSM or other Malaysia government issuance agencies) or Proof of Business
- NRIC (Front and back)
- For account representatives who are not listed on the business profile
- Provide Authorization Letter Signed by secretary/director of company
- Provide ID of both the account representative and the signing secretary/director [ID containing signatures - e.g. passport]
- Note: Additional requirements may be requested by Compliance after initial documents are provided (e.g. if business requires licenses / permits; beneficial owner info >25% ownership)
c. Bank account
- Companies and LLP must use company bank account for payouts.
- Sole Proprietorships may use bank account with name of owner.
2. Entity types and document requirements
| Entity Type | Document required |
|
- Business (Sole Proprietors) -Company - LLP |
Business/Company Profile issued by SSM Sample documents: https://www.ssm.com.my/Pages/Product/PDF/profil_perniagaan.pdf https://www.ssm.com.my/Pages/Product/PDF/profil_syarikat.pdf https://www.ssm.com.my/Pages/Product/PDF/SAMPEL CURRENT PROFILE LLP.pdf |
| Club Society Charity |
Registration certificate Or Certificate of incorporation, Constitution, Directors resolution, Partnership agreement Identification document of Office bearers |
*Note that HitPay Malaysia no longer accepts unregistered individuals to register as our merchants.
3. How to register a business in Malaysia
a. Business: https://www.ssm.com.my/Pages/Services/Registration-of-Business-(ROB)/Registration/Registration.aspx
b. Company: https://www.ssm.com.my/Pages/Services/Registration-of-Company-(ROC)/Client-Service-Charter.aspx
ii. MyCoID: https://mycoid2016.ssm.com.my/
ii. CLBG: https://www.ssm.com.my/Pages/Services/Registration-of-Company-(ROC)/CLBG/CLBG.aspx