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Sme Status Registration System: Frequently Asked Questions (Faq)

The document provides frequently asked questions about Malaysia's SME Status Registration System. It outlines what the system is, who is eligible to register, required documents for registration, and other details about obtaining and renewing SME status certification.

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David Palash

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0% found this document useful (0 votes)

55 views6 pages

Sme Status Registration System: Frequently Asked Questions (Faq)

Uploaded by

David Palash

We take content rights seriously. If you suspect this is your content, claim it here.

Available Formats

Download as PDF, TXT or read online on Scribd

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SME STATUS REGISTRATION SYSTEM

FREQUENTLY ASKED QUESTIONS (FAQ)

1. What is the SME Status Registration System?

The SME Status Registration System is a new initiative developed by SME
Corp. Malaysia to ensure each SME that applies to participate in Government
programmes or acquire assistance / incentives fulfils the SME definition which
has been set by the Government. Companies / businesses that fulfil the
definition are eligible to participate in programmes and obtain assistance /
incentives provided by the Government through agencies such as SME Corp.
Malaysia or any Ministries or agencies which adopt this SME definition.

Please refer to the SME definition at the following link:

https://www.smecorp.gov.my/images/pdf/2020/Guideline-
SMEDefinition_updated.pdf

2. Is the SME Status Certificate a requirement or mandatory regulation for

SMEs operating their businesses in Malaysia?
The SME Status Certificate is a status acknowledgement offered by SME
Corp. Malaysia to facilitate businesses in participating in programmes or in
applying for incentives and assistance for SMEs. This certificate is not a
requirement or mandatory regulation for operating businesses in Malaysia.

3. Does the SME Status Certificate qualify a company / business to obtain

assistance and incentives for SMEs automatically?
The purpose of the SME Status Certificate is to confirm the size of a firm as
an SME. Companies / businesses that have obtained the status are eligible to
be considered to participate in programmes, as well as to receive assistance
and incentives specially for SMEs. However, it does not give an automatic
approval for companies / businesses to participate in programmes or to obtain
incentives, financial facilities and others because such facilities and facilitation

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typically have other eligibility criteria which has to be fulfilled depending on the
objectives of the programmes.
4. Who is eligible to register through this registration system?
Business entities in all economic sectors that are registered with the
Companies Commission of Malaysia (SSM), relevant business registration
bodies or local authorities (for Sabah and Sarawak) and statutory bodies (for
professional service providers).

5. How to apply through this registration system?

Companies / businesses can visit SME Corp. Malaysia’s website at
www.smecorp.gov.my or click on the link https://smereg.smecorp.gov.my

Steps to register are as follows:

a. Register new account
b. Fill in required information
c. Upload relevant documents
d. Tick on declaration form and click on ‘Submit’ button

6. Is there any guide that companies / businesses can refer to for

registration?
Companies / businesses can download the User Manual at the link
https://smereg.smecorp.gov.my as a reference. This manual is a
comprehensive guide to facilitate the registration of SME status. The manual
also illustrates documents that are required to complete the application.

7. What are the documents that must be uploaded onto the system?
There are four (4) documents that must be made available for uploading for
Private Limited companies (business entities registered with the Registrar of
Companies [ROC]), Enterprises (business entities registered with the
Registrar of Businesses [ROB]) and Limited Liability Partnership (LLP)
(business entities registered under the Limited Liability Partnerships Act
2012).

The required documents are:

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a) Latest SSM company / business registration form

i) Registration under Registration of Business Act 1956:

Form D (Certificate of Registration) & Business profile

ii) Incorporation of Company under Companies Act 2016:

Certificate of Company Incorporation (Section 15) & Company
profile

iii) Registration of Limited Liability Partnership (LLP) under Limited

Liability Partnership Act 2012: Notice of Registration or Certificate
of Registration of LLP & LLP profile

b) Private Limited Companies must provide their latest Audited Financial

Statements either for the current year or previous year. While
Enterprises and LLPs must provide two years of current Profit and Loss
Statements or Management Accounts for a full 12-month period.

c) Private Limited Companies, Enterprises and LLPs must provide their

latest EPF Contribution Statements.

d) All Private Limited companies, Enterprises and LLPs must provide

Information on Current Owners and Information on Shareholders that
lists out ownership and total equity.

8. My company is registered less than a year (new entity). Can I proceed

with the SME Status registration? What are the documents that I need to
submit?
The company can still proceed with the SME Status registration. The
documents that must be submitted are the same based on the set guidelines.
However, the company is exempted from providing the Audited Financial
Statements. Instead the company is required to provide the current Profit and
Loss Statement or Management Account. If the company does not have any
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of these documents, it can submit a valid Bank Account Statement. For other
documents, the set guidelines must be adhered to accordingly.

9. The company that I have registered with SSM only has a trustee and
not shareholders. Can I proceed with the SME Status registration?
A company that has a trustee is categorized as a company limited by
guarantee (CLBG). Based on the Companies Act 2016, a CLBG is not profit
motivated and also not a pure business entity. In this case, the company
should not proceed with the SME Status registration because the status is
only for pure business entities only.

10. What document proves a company / business has an SME status?

For companies / businesses that have registered and are confirmed having
SME status, SME Corp. Malaysia will issue the SME Status Certificate (digital
copy) when they have made payment of RM100.00. The certificate has a
validity period of two (2) years.

11. What are the payments charged to obtain the SME Status?
No payment will be charged if companies / businesses are only checking on
whether or not they are classified as SMEs. However, payment of RM100.00
will be charged if the companies / businesses would like to obtain the SME
Status Certificate (digitally). The certificate has a validity period of two (2)
years.

12. The SME Status Certificate has a validity period of two (2) years. If a
company has graduated from the SME definition before the expiry of
the 2-year period, is the SME Status Certificate still applicable?
Any company / business is considered as having graduated from the SME
definition if it has exceeded the threshold set under both criteria of annual
sales turnover and number of full-time employees for a period of two (2)
consecutive years. During the validity period, if there are changes to both
criteria or shareholding structure that result in the company / business to be
no longer an SME, then the SME Status Certificate will automatically
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become null and void.
13. I am an accountant and registered with the Malaysian Institute of
Accountants (MIA). Can I still proceed with the SME Status registration
as my firm is not registered with the Companies Commission of
Malaysia (SSM)?
Professional service providers (such as doctors, dentists, lawyers,
accountants, auditors and others) that are registered with SSM can still
proceed with the SME Status registration. They need to provide registration
documents issued by the relevant Statutory Bodies such as the Ministry of
Health Malaysia (MOH), Malaysian Bar, Malaysian Institute of Accountants
(MIA), Institute of Internal Auditors Malaysia (IIA Malaysia) and others. Other
documents that must be furnished are as follows:

a) Current year Profit and Loss Statements or Management Accounts for

a period of 2 years

b) Latest EPF Contribution Statements

c) Firm ownership document for than one (1) owners, if available

If the firm is registered with SSM, SSM registration document must be

provided and the documents that must be submitted are based on the
category of the company / business.

14. How long does it take to receive feedback on applications submitted?

If applications submitted are complete, feedback will be given within ten (10)
working days.

15. Can the SME Status Certificate be renewed automatically after the expiry
of the 2-year validity period?
The SME Status Certificate cannot be renewed automatically. Companies /
businesses must submit new applications and follow all steps in the
application process accordingly.

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16. I find it difficult to fill up the application.
Does SME Corp. Malaysia have appointed agents / representatives that
can help companies / businesses fill up their applications?
SME Corp. Malaysia has never appointed any agent / representative to fill up
applications for companies / businesses. Companies / businesses can refer to
the User Manual which is provided for a detailed guide on registration of SME
status.

17. Can the SME Status Certificate be revoked by SME Corp. Malaysia
before the expiry of the 2-year validity period?
SME Corp. Malaysia has the right to revoke the SME Status Certificate before
the expiry of the 2-year validity period should there be any falsification of
documents, submission of inaccurate information, change in the company
shareholding structure and other justifiable reasons.