Foreign investors may enter the Vietnam market through an equity acquisition of an existing Vietnamese enterprise (hereinafter referred to as “foreign equity acquisition”) in addition to setting up a foreign invested enterprise in Vietnam directly. Currently, Vietnam has not yet enacted any special laws or regulations on foreign equity acquisition.
What are the popular locations for opening a restaurant in Malaysia? What type of company and minimum capital are required for foreigner to set up a restaurant in Malaysia? Besides the WRT License, what other licenses are required for opening a restaurant? What are the requirements of the restaurant’s signboard?
The company’s Constitution is a legal document which sets out the objects and powers of a company and also governs internal affairs and management of the company. Under the Malaysian Companies Act 2016 (CA 2016), the M&A is replaced by Constitution. A company has the option of whether to have a Constitution as the CA 2016 has set out rights, powers, duties and obligations of company’s directors and shareholders which can be used in the absence of a Constitution.
Pursuant to Section 267(2) of the CA 2016, the Registrar shall have the power to exempt any private company from the requirement to appoint an auditor for each financial year of the company. Practice Directive No. 3/2017 issued by the Companies Commission of Malaysia (CCM) has set out the qualifying criteria for certain categories of private companies from having appoint an auditor in a financial year, i.e. audit exemption.
In Malaysia, the Companies Act 2016 (“CA 2016”) recognise the distinction between “transfer” and “transmission” of shares. Both transfers and transmissions of shares are pivotal transactions that entail changes in ownership in a private company. One significant difference between a transfer and transmission of shares under the CA 2016 is that a transfer of shares is a voluntary act by the holder of shares by way of contract
Since its introduction in 1996, Multimedia Super Corridor (MSC) Malaysia has catalysed and transformed Malaysia into a knowledge-based economy. MSC Malaysia, driven by Malaysia Digital Economy Corporation (MDEC) as the nation’s lead digital economy agency, has contributed immensely towards the growth of the nation’s digital economy.
The establishment of a Representative office (RO) and limited liability company (LLC) are two common forms of foreign direct investment in Vietnam. The main differences between the two forms are as follows: The company bears its own liabilities. Parent company bears liabilities. LLC Can engage in any registered business activities that are not prohibited by local laws.
According to the Decree No. 70/2023/ND-CP which came into force from 18 September 2023, the major changes on hiring foreigners in Vietnam are as follows. According to the Decree No. 70/2023/ND-CP, foreign expert work permit applicants shall have at least a bachelor’s degree or equivalent and 3 years of working experience. Technician work permit applicants shall have at least 1 year of training and 3 years of working experience.
According to the Law on Enterprises of Vietnam, a Vietnam company shall appoint at least one legal representative. The legal representative usually concurrently holds the poison of the chairman of the board of directors, president, director, or general director, depending on the organization structure of the company.
In most cases, the first step to set up a foreign invested enterprise (FIE) in Vietnam is to apply for and obtain an Investment Registration Certificate (IRC) from the competent authority of the location where the investment project will be based. According to the Law on Investment of Vietnam, the Investment Registration Certificate is required for enterprises