Your Business Account in Malaysia 🇲🇾

Yes, it is possible to open a business bank account online in Malaysia in some banks, but the service is only available to existing customers. The first encounter with the bank will still require personal presence.

For fully online onboarding consider opening an account in of the alternative payment institutions with a focus on cross-border transactions such as MultiPass.

Yes, foreign companies can generally open a bank account in Malaysia for a locally-registered business. The specific requirements and procedures may vary among banks. Typically, foreign companies will need to provide documents such as the Certificate of Incorporation or Registration, Memorandum and Articles of Association, and other relevant corporate documents.

The requirements for foreigners to open a business bank account in Malaysia typically include a valid passport, business visa or work permit, company registration documents, proof of address, and initial deposit. Some banks may also require additional documents or information, so it's advisable to contact the bank directly for accurate and up-to-date requirements.

The process is straightforward for local companies, however, might be more troublesome for companies with foreign directors. It is advisable to have a local representative to initiate and handle the application process.