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Transmission of Shares in Malaysia
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
Introduction to Malaysia Digital Status
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.
Main Difference between RO and LLC in Vietnam
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.
New Rules on Hiring Foreigners in Vietnam
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.
Legal Representative of a Vietnam Company
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.
Basic Certificates Required for Establishing a FIE in Vietnam
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
Guide to Setting up of Representative Office/Regional Office in Malaysia
Expanding business operations internationally can be an exciting challenge, and Malaysia’s strategic location, growing economy and tax incentives presents itself as an attractive destination for foreign companies looking to establish a presence in Southeast Asia. One common approach to enter the Malaysian market is through the establishment of a Representative Office/ Regional Office.
Statutory Audit Requirement in Cambodia
The following types of business entities are obligated to be independently audited for each financial period in accordance with the relevant laws and regulations of Cambodia. Public enterprises. Enterprises with public accountabilities, for example, banks insurances and those that have debt instruments traded in the domestic or international stock market.
Beneficial Ownership Disclosure of a Malaysia Company
BOs are always natural persons who ultimately own or control a legal entity or arrangement. Section 2 of the Companies Act 2016 (CA 2016) defines BO as the ultimate owner of the shares and does not include a nominee of any description. The definition of BO must also be read together with Section 8 of the CA 2016.
Regulatory Compliance for the Manufacturing Industry in Malaysia
The Industrial Coordination Act, 1975 (ICA 1975) governs Malaysia’s industrial sector. Companies that are or plan to be active in the manufacturing business must comply with the regulations mandated by the ICA 1975. The ICA 1975 defines manufacturing activity as “the making, altering, blending, ornamenting, finishing or otherwise treating or adapting any article or substance with a view to its use, sale, transport