Proxy Shareholding In Malaysia

Summary

Setting up a proxy to hold company shares in trust in Malaysia involves drafting a trust agreement, defining beneficiary designations, and determining proxy compensation. Ensure compliance with Malaysian laws, such as the Companies Act 2016, and seek legal advice to make documents legally binding. Register the trust agreement with relevant authorities and maintain ongoing compliance with legal requirements.

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I have company in Malaysia,
Great, ****. ****! How can I assist you with your company in Malaysia? Are you looking for information on company registration, compliance, taxes, or any other specific issue?
i would like to have a proxy hold *% of the company shares in trust, it will be transferred back to my preferred beneficiary, and this proxy can retain certain percentage of the shares for their proxy services
Hi ****. ****! This sounds like a complex arrangement. Here are some general points to consider in Malaysia:
- Trust Agreement: Ensure a legally binding trust agreement is in place outlining the terms.
- Beneficiary Designation: Clearly state who the beneficiary is and the conditions for transfer.
- Proxy Services Compensation: Define the percentage of shares the proxy retains as payment.
- Legal Compliance: Ensure compliance with Malaysian laws and regulations.
Do you need detailed steps or have specific questions about setting this up?
Go ahead and give me detailed steps
Case Rating: *
Sure, here are detailed steps to set up a proxy holding shares in trust in Malaysia:
*. Draft a Trust Agreement:
- Outline the terms and conditions of the trust.
- Clearly state the roles and responsibilities of the proxy.
- Include details about the transfer back to the beneficiary.
*. Define Beneficiary Designation:
- Specify the preferred beneficiary.
- Include conditions under which the shares will be transferred back to the beneficiary.
*. Proxy Services Compensation:
- Determine the percentage of shares to be retained by the proxy for their services.
- Include this in the trust agreement.
*. Legal Compliance:
- Ensure the arrangement complies with the Companies Act * and other relevant Malaysian laws.
- Seek legal advice to ensure all documents are legally binding and enforceable.
*. Register the Trust Agreement:
- Register the trust agreement with the relevant authorities in Malaysia.
- Ensure all parties involved sign the agreement.
*. Ongoing Compliance:
- Maintain records of all transactions and changes related to the shares.
- Ensure ongoing compliance with Malaysian legal requirements.
Would you like more specific details on any of these steps?