Malaysian Business Bank Account

Not every banking plan is created equal. Our team is ready to advise you on the best choice for your business needs.

We’ve partnered with banking institutions that offer secure and convenient digital banking services in addition to excellent customer service. They can even offer door-step service to help you set up your 1st bank account!

What Is a Business Bank Account?

A current bank account created in the name of a business and used to receive and manage all company funds. Opening a business bank account is a necessary step for any company to do business.

Benefits of a Business Bank Account

Just to show why you must have one here in Malaysia!

Credibility

A corporate account helps build trust among shareholders, investors, customers and suppliers. Some parties refuse to do business with a company without a corporate account.

Protection

A corporate account keeps the company’s funds and assets separate from the business owner’s, offering the latter full liability protection of personal assets.

Clarity

A corporate account provides business owners and directors with a clear snapshot of the company’s financial standing, allowing them to plan ahead.

Flexibility

A corporate account allows the company to easily invest any excess funds into bonds, stocks, and other assets. Corporate accounts also come with overdraft facilities to help businesses that need short-term cash injections.

Top 4 Features of SME-Friendly Banks

Doorstep Service

The bank sends a relationship manager to meet with you to open your 1st bank account.

Easy Bulk Transactions

The bank allows account holders to approve multiple transactions simultaneously.

Lower Start Up Funds & Deposit Obligations

A good bank will understand and accommodate your financial situation to help you get started.

Swift Account Opening

Going by today’s standards, it should take no more than a week, and can even be instantaneous!

Our Banking Partners

Frequently Asked Questions

Is it mandatory to open a Corporate Bank Account in Malaysia?

Effectively, yes. While not a legal requirement, the benefits offered by a corporate bank account and the severe limitations of not having one means that a company cannot operate effectively without one.

How long does it take to set up a Corporate Bank Account in Malaysia?

Anywhere from 2 – 3 weeks for standard cases, though it can go up to several months if it involves complex situation.
MISHU’s experienced team can help solve any issues that could otherwise delay your account opening.

What documents are required to set up a Corporate Bank Account in Malaysia?

*Company Constitution
*Resolution from the Board of Directors to open the account with complete list of authorised signatories
*Certificate of incorporation (section 17)
*Return of allotment of shares (section 78)
*List of directors (section 58)
*Registered office address (section 46) As part of MISHU’s incorporation package, our team can compile and provide all the relevant documentation to help you open your account.

Can foreigners living overseas open a Corporate Bank Account in Malaysia?

Absolutely. However, certain banks may require you to perform some additional KYC checks and need you to nominate a local representative to handle the paperwork.

What is a doorstep service for banks?

It is a feature where the bank sends their relationship manager to come and meet you physically at your office/home for account opening, form signing and KYC checks.

How much does one need to deposit in order to set up a Corporate Bank Account in Malaysia?

It varies from bank to bank, though the average starting amount is usually RM1,000.

If I run a sole proprietorship or partnership, do I need a Corporate Bank Account?

While not as necessary, having a separate bank account for business funds provides sole proprietorships and partnerships with the same benefits as companies, and it is therefore highly advisable for these businesses to create one as well.