Quick answer
Malaysian banks open a corporate current account after due diligence on the company, its directors, shareholders and beneficial owners, as required under anti-money-laundering rules. Typical documents are the SSM company information, constitution, a board resolution authorising the account and signatories, and identification of directors and owners. Our service prepares the documents and resolution, coordinates with the bank officer and follows up; approval remains at the bank's discretion.
Last reviewed： · Reviewed by：ONEKEY BIZ compliance team
01
Overview
A new company cannot invoice, pay staff or collect payment properly until it has a corporate bank account — and account opening is where many new companies lose weeks.
Banks in Malaysia must carry out customer due diligence before opening an account. They look at the SSM records, who the directors, shareholders and beneficial owners are, what the business does, and where its money comes from. Foreign shareholders, a newly incorporated company, or a business model the officer does not understand all lead to extra questions.
We prepare the SSM documents and board resolution, brief you on the questions the bank will ask, coordinate the appointment with the bank officer and follow up until the account is opened. We work with banks including OCBC, and suggest the bank that suits your profile.
Who needs this
- Newly incorporated Sdn. Bhd. companies
- Foreign-owned Malaysian companies
- Companies adding a second bank or switching banks
02
Documents you need to prepare
Company
- SSM company information (Sections 14/58 or e-info)
- Constitution, if any
- Board resolution to open the account and appoint signatories
People
- IC or passport of directors, signatories and beneficial owners
- Proof of residential address
Business
- Business profile, expected transactions, customers and suppliers
- Tenancy of business premises
- Signatories may be required to attend the bank in person.
- Account approval is always subject to the bank's own policies and due diligence.
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How to get it done with ONEKEY BIZ
- 1Profile check Day 1
Business and ownership reviewed for bank due diligence.
- 2Documents & resolution Day 1–3
SSM documents and board resolution prepared.
- 3Bank appointment Week 1
Bank officer engaged; appointment set.
- 4Application Week 1–2
Forms signed and submitted.
- 5Account opened Per bank
Account number and online banking set up.
You do
- Provide business information
- Attend the bank appointment with signatories
We do
- Prepare SSM documents and board resolution
- Coordinate with the bank officer
- Follow up until the account is opened
04
What you receive
SSM documents, resolution and forms.
Once approved by the bank.
Rules and requirements in detail
Frequently asked questions
Can you guarantee the account?
No. The bank decides; we prepare the application properly.
Can foreign directors open an account?
Yes, but banks usually ask for more documents and may require attendance.
Which bank do you use?
We work with several banks, including OCBC, and choose by your profile.