Malaysia’s SSM MyCoID portal is online company registration and company incorporation service which was launched by the Companies Commission of Malaysia (SSM).
The Malaysia Corporate Identity Number (MyCoID) is the number used as a single source of reference for registration and transactions conducted with relevant Government agencies. The introduction of this system effectively phased out the need for various serial numbers assigned for the purpose of public dealings and internal references.
Beginning 1 July 2009, MyCoID is the standard identification number of a business entity for use in its interaction with Government agencies. It is the Companies Commission of Malaysia (SSM) business registration number for companies, sole proprietors and partnerships. New businesses registering with SSM from 1 July 2009, can use the MyCoID when registering with the following four agencies:
- Inland Revenue Board (IRB);
- Human Resources Development Fund (HRDF);
- Employees’ Provident Fund (EPF)
- The Social Security Organisation (SOCSO)
How to access the SSM MyCoID System?
For users to access the MyCoID 2016 system, you must be registered as an active user. You may choose to register as an Individual User or a Professional User. The Professional User option is applicable done by a Professional Body or License Secretary. You may then register and incorporate a company in Malaysia through the MyCoID portal, which can be completed in three simple steps:
- Step 1 – Register your business and submit the relevant information on the portal.
- Step 2 – Wait for approval by the SSM
- Step 3 – You will receive a notification of registration from the SSM through email.
The MyCoID 2016 system can be accessed 24 hours a day, 7 days a week. The convenience of this system enables users to conduct company name searches and make payments from anywhere. The only requirement is to have a strong internet connection. This system significantly reduces the waiting time needed to obtain a new company’s incorporation information.
SSM’s MyCoID system accepts payments from major local and foreign issued credit cards through Visa or MasterCard.
What is the benefits of MyCoID System?
The SSM launched the system which will enable Malaysia company incorporation services to be carried out online in a manner which is simple, hassle-free and quick. With the introduction of the MyCoID 2016 system by the SSM, it became possible to enable automatic population of data for simultaneous registration with the relevant Government agencies once the company has been successfully incorporated.
Among the benefits of the SSM MyCoID system include:
- Facilitating the members of the public’s corporate and business community
- Enhancing inter-agency interactions
- Enhancing the efficiency of transactions between the public and the relevant Government agencies
- A vital and basic component which is necessary towards helping the development of a fully automated system. This will enable companies to simultaneously register with the relevant government agencies once incorporated.
- Helps elevate the national corporate and public service delivery system in the 21st century corporate environment.
MyCoID system is currently being used by agencies, including Employees Provident Fund (EPF), Social Security Organisation (SOCSO), Inland Revenue Board (IRB), Human Resource Development Fund (HRDF) and Small and Medium Enterprise Corporation (SME Corp Malaysia).