Malaysia Tax July 2016 Setting up Business in Malaysia 말레이시아주식회사설립가이드 개관 말레이시아주식회사설립가이드 / 기업법개정안 (2015) 주요변경사항 말레이시아에서한국투자자로서설립이가능한회사의형태로는지사 (Branch Office), 유한주식회사 ( Sdn Bhd ), 연락사무소 (Representative Office) 등이있습니다. 그중에서도유한주식회사 ( Sdn Bhd ) 는가장일반적인진출형태입니다. 이번 7 월호뉴스레터에서는말레이시아회사법에따른유한주식회사의설립요건, 관련규제사항, 최소자본금요건, 지분구조등에대한유익한내용을전해드립니다. 더불어 2016 년 4 월 28 일상원을통과하여 2016 년말에발효될것으로예정된기업법개정안 (2015) 에따라관련개정안의주요변경사항을요약, 제공함으로서한국투자자분들의이해를돕고자합니다.
말레이시아유한주식회사설립가이드 1 개인회사의형태주식자본을토대로하는말레이시아회사는 개인주식회사 (Private Limited Companies; Sendirian Berhad: Sdn. Bhd. 로회사명에포함 ) 혹은 주식회사 (Berhad: Bhd. 로회사명에포함 ) 의형태로회사를설립할수있다. 2 공식회사주소 3 등재이사 4 Company Secretary 5 납입자본금 말레이시아회사는반드시회사가받아야할통지서류를송달받을수있는주소를가진적절한공식회사주소를가지고있어야한다. 전문 Company Secretary 사무소를이용할경우해당말레이시아회사의공식주소는 Company Secretary 사무소의주소로대체될수있다. 최소 2 인의현지거주자자격을갖춘거주자이사등재가요구되고있으며, 현지거주자이사는해당자가주주인지아닌지에관계없이등재될수있다. 말레이시아회사법 (1965 년제정 ) 에따라말레이시아회사는최소 1 인의자격을갖춘 Company Secretary 를두도록규정되어있다. 회사설립에는각각최소보통주 MYR 1 이상씩자본금에기여한 2 인이상의출자자자의존재가요구된다. 6 자본등록수수료법인설립건당아래요율에따라자본등록수수료가부과되고있다. Authorised Share Capital (RM) 수권자본금규모 (RM) Fees (RM) 수수료 (RM) Up to 400,000 1,000 400,001-500,000 3,000 500,001-1,000,000 5,000 1,000,001-5,000,000 8,000 5,000,001-10,000,000 10,000 10,000,001-25,000,000 20,000 25,000,001-50,000,000 40,000 50,000,001-100,000,000 50,000 100,000,001 and above 70,000 회사는수권자본금을초과하지않는규모내에서주식발행이가능하나, 실무적으로주식은보통주액면가인 1RM 이하의가격으로발행될수있으며, 추후 잔액청구가가능하다.
7 주주 회사설립에는각각최소 MYR1 이상씩자본금에기여한 2 인이상의출자자자의존재가요구되나, 만일법인이주주로참여할경우해당법인 1 인으로도설립이가능하다. 모회사자본 100% 자회사설립이목적일경우해당주식은회사설립이후송금될수있다. 또말레이시아회사법에따라일반적으로현지거주자주주에대한요건은없으나, 다음행에설명된규제부문에서는특정라이센스및허가가요구되고있다. 8 외국자본규제및 현지자본구조 요건 2003 년 6 월 17 일부터 100% 외국자본으로설립된회사또한제조업투자가가능하도록허용하고있다. 2009 년부터교육, 의료, 여행업, 통신, IT 등의특정서비스업자유화를통해 100% 외국자본회사의투자를허용하고있다. 이슬람금융, 투자은행, 보험업및이슬람보험 ( 타카풀 ;Takaful) 부문에는 최대외국자본에대한규제가있는데, 2009 년발의에따라 2014 년 6 월 9 일부터는 70% 까지의외국자본투자가허용되고있다. 다만 투자신탁운용업에는 100% 외국자본소유구조의투자가허용되고있다. 에너지자원, 수도, 통신업및항만등의국가전략사업부문에는 부미푸트라 (Bumiputra; 말레이시아원주민 ) 자본이요구될수있다. 도 / 소매및무역업은관련외국자본규제가이드라인 (Foreign Participation in the Distributive Trade Services) 에따라최소자본금을 RM10 만 RM25 만까지 다양하게규정하고있으며, 30% - 70% 에이르는최저현지자본에대한요건이 존재한다. 석유및천연가스부문의서비스공급자들에게는 Petronas 라이센스취득이 요구되고있으며, 기본적으로 100,000RM 의최저자본요건, 세부서비스 부문에따라 30%, 51% 혹은 100% 에이르는최저현지자본요건을만족시켜야 한다. 9 취업비자신청및 발급을위한 최저자본금요건 외국인고용및취업비자발급을위한최저요구자본금규모는다음과같다. 100% 현지소유기업 - RM250,000 이상현지 + 외국자본합작기업 RM350,000 이상 100% 외국인소유기업 RM 500,000 이상
10 말레이시아회사 설립단계및 소요기간 말레이시아회사설립을위해서는일반적으로다음의서류제출이요구된다. - 승인된회사명 - 사업의내용 - 등재이사 / 주주의이름, 최신거주지주소, 공증처리된여권사본, 국적및직급, 각주주의소유지분. Note. ( 다만주주가회사 ( 법인 ) 일경우공증처리된법인설립증서, ROC 또는에서발급하는회사소개서및위임장, 그리고 corporate representative certificate 와 notice 중적용가능한서류를제출해야한다.) ( 현재말레이시아법인의설립은모든서류가적절히제출된다는가정하에 2-3 영업일이내로그절차를완료할수있다.) 11 현지계좌개설 말레이시아회사는말레이시아중앙은행에서정한모든은행에서계좌를개설할수있고계좌개설에소요되는시간은이용하는은행의특성에따라최소 2주 최대 2개월으로다양하다. 12 연차주주총회 ( AGM ) 법인세율 13 말레이시아회사는연간감사보고서개시를위해 1 년에 1 회연차주주총회 (AGM) 를개최해야한다. 주주총회일자는회계연도말이후 6 개월을초과할수없으며, 연간감사보고서는연차주주총회를개최한날로부터 1 개월이내에 ROC 로제출되어야하며, 주주의승인이요구되는특별결의가필요할경우임시주주총회 (EGM) 를개최할수있다. 말레이시아회사는회계연도마감이후 7 개월이내에말레이시아국세청 (IRB) 에법인세신고및납부를할의무가있다. 말레이시아회사에적용되는법인세율은 24% (2016 회계연도기준 ) 로, 납입자본금규모가 2.5mil RM 을초과하지않는중소기업에는아래의법인세율이적용되고있다. 14 투자수익 / 이익의 송금 최초 RM500,000 19% RM500,000 이상 24% 투자에대한수익배분형태로서의배당은회사의유보이익으로부터지급될수있으며, 배당지급액은주주의국적에상관없이주주들의개인소득에서세액면제대상으로취급되고있다.
2015 기업법개정안 (2015) 의주요변경사항 기업법개정안 (2015) 이말레이시아하원 (4 월 4 일 ) 과상원 (4 월 28 일 ) 을통과하였으며, 2016 년말에발효될것으로예상됩니다. 본개정안은말레이시아內사업의진행을용이하게함과동시에기업지배구조를강화하는목적을가지고있습니다., 다만해당내용은말레이시아內이미법인을설립하였거나설립을진행중인한국투자자분들의이해를돕기위해제공되며, 요약된내용은완전한내용이아님을알려드립니다. 기업법개정에따른주요변경사항 Private Company( 개인회사 ) Public Company( 상장회사 ) 1 최소등재이사인원 현행법최소 2 인의현지거주자자격을갖춘거주자이사등재가요구되고있다. 상장회사는최소 2 명의이사를등재 해야한다. 개정법회사는최소 1 인의현지거주자자격을갖춘자에의해설립될수있으며, 해당인은 sole director(1 인이사 ) 로등재될수있다. 2 연차주주총회 (AGM) 현행법말레이시아회사는연간감사보고서의개시를위해 1 년에 1 회연차주주총회 (AGM) 를개최해야한다. 주주총회일자는회계연도말이후 6 개월을초과할수없다. 상장회사는연차주주총회개최가 요구된다. 개정법 개인회사의경우더이상 연차주주총회가요구되지않는다. 연차주주총회폐지에따라, 주주들의회계감사진행기간에대한가이드라인이배포될예정이다.
주주의특정이의제기가없을 시, 감사의자동연임제도가 적용된다. 개인회사의경우주로결의문의 형태를통해기업의사결정이 진행된다. 3 무액면제도 현행법회사설립에는각각최소보통주 MYR1 이상씩자본금에기여한 2 인이상의출자자의존재가요구된다. 개정법 주식발행시액면가제한이없다. 대가에알맞은가격에주식이발행된다. 주식액면초과액계정, 자본상환적립, 수권자본개념은더이상적용되지 않는다. 주식액면초과액계정개정법준수를위한 24 개월의과도기간이 주어진다. 4 ( M&A ) 회사정관 및부속정관 현행법 회사정관및부속정관은 IRB 의공식인지가필요하며, RM100 이부과되고 있다. 개정법회사에게는더이상정관이요구되지않는다. 하지만, 회사가자사의특정조항의변경을원하는경우, 헌법 ( 회사법 ) 에따른기존정관을따르지않을수있으며, 기존의회사들의정관은개정법에따라적용될것이다. 5 상환능력평가제도 도입 현행법 해당조항없음 개정법다양한상황에적용될수있는보다세분화된상환능력평가 (Solvency test) 가마련된다. 또한, 이사들은회사가아래해당되는내용에착수할때, 상환능력이있는지확인하기위해공식문서 (statutory declaration) 에서명을해야한다. 자본금의감자 우선주의환매 재정지원의제공
주식환매 상환능력평가 (Solvency test) 에위반되는경우, 해당이사들의개인적책임 및형사상제재가가해질수있다. 배당제도 현행법 투자에대한수익배분형태로서의배당은회사의유보이익으로부터지급될 6 수있다. 개정법 이윤에한하여분배가이루어질수있다. 배당은회사가지불능력이있을경우에만가능하다. 즉, 배당이이루어진 직후 12 개월이내에회사가채무이행이가능한상태에서진행될수 있다. 승인이이루어졌으나배당이진행되기전, 회사가지불할능력을잃게 되면, 이사들은배당중단을위한필수절차를진행해야한다. 회사는주주로부터배당금을되찾을수있다. 면책조항 해당한국어버전은한국인담당자의이해를돕기위해대략적인번역을한정보이므로오류나누락된부분에대하여책임을지지않습니다. 명확한내용과조건 등은반드시영어원문을확인하시길바랍니다. 이자료는일반정보만을포함하고있으며딜로이트가제시하는전문적인조언이나서비스가아닙니다. 자신의재무나사업에영향을미칠수있는모든결정이나 조치를내리기에앞서서전문상담사에게문의하시기바랍니다. 딜로이트네트워크에포함된어느누구도이책자를이용한개인의모든손실에대해책임을지지 않습니다. 딜로이트는영국의보증책임회사인딜로이트투쉬토마츠사 ( DTTL ), 딜로이트의회원기업네트워크그리고관련사업체중 1 개이상을지칭합니다. DTTL 과 각각의회원기업들은법적으로분리된독립적인사업체입니다. DTTL( 또한 딜로이트글로벌 이라고도불려짐 ) 은고객들에게서비스를제공하지않습니다. DTTL 과회원기업들에대한자세한정보는 www.deloitte.com/my/about 을참고하시기바랍니다. 2016 Deloitte Tax Services Sdn Bhd
Setting up Business in Malaysia There are types of business organization which include the branch of a foreign company, limited company, representative office, etc available for Korean investors. Among, the private limited company is the most popular form of organisation. Herewith, we list down the requirements and restrictions for setting up a private limited company in Malaysia, the minimum share capital requirement, equity condition, etc. Setting Up of a Malaysian Company Limited by Shares 1 Name of a Malaysian Company 2 Registered Office A Malaysian Company having a share capital may be incorporated as a private limited company (identified through the words Sendirian Berhad or Sdn. Bhd. appearing together with the company's name) or public limited company (identified through the word Berhad or Bhd appearing together with the company s name). The Malaysian Company must have a Registered Office where all communications and notices may be addressed to. (If the Company Secretary is a professional firm, the address of the Company Secretary is usually the address of the Registered Office of the Malaysian Company.) 3 Directors A minimum of two directors who must be natural persons and each has his principal or only place of residence within Malaysia. The directors of a Malaysian Company may be the same or different persons from the shareholders. 4 Resident Secretary 5 Paid Up Share Capital 6 Share Capital Duty The Malaysian Company must have at least one qualified Secretary (as defined under the Malaysian Companies Act, 1965) who must be a natural person. The minimum paid-up and issued capital for a Malaysian Company is RM2.00 comprising at least two ordinary shares of RM1.00 each. Each application for the incorporation of a company shall be accompanied with share capital duty payment as per the following schedule: Authorised Share Capital (RM) Fees (RM) Up to 400,000 1,000 400,001-500,000 3,000 500,001-1,000,000 5,000 1,000,001-5,000,000 8,000 5,000,001-10,000,000 10,000 10,000,001-25,000,000 20,000 25,000,001-50,000,000 40,000 50,000,001-100,000,000 50,000 100,000,001 and above 70,000 The issued share capital can be at any amount not exceeding the authorised share capital.
In practice, though, the share can be issued at full nominal value of RM1 or a part of it with the balance to be called upon at later stages. 7 Shareholder A minimum of two individual subscribers is required. If the shareholder is a corporation, the company may have only one shareholder. If the intention is to have a wholly owned subsidiary, these shares may be transferred to a corporate entity at a later date. There is no requirement for a Malaysian Company to have resident shareholders unless specified in certain permits or licenses as further elaborated below. 8 Foreign and bumiputra equity participation With effect from 17 June 2003, 100% foreign participation is allowed for manufacturing sector. There were liberalisation initiatives in several services sub-sectors (e.g. education, healthcare, tourism, telecommunication, IT related etc), allowing for up to 100% foreign participation in these sectors since 2009. The limit on foreign equity ownership of Islamic banks, investment banks, insurance companies and takaful operators is 70% from 2009 onward. With effect from 9 June 2014, 100% foreign equity ownership is allowed for unit trust management companies. Bumiputra equity conditions may be imposed in the strategic sectors such as energy, water, telecommunications, and ports. In relation to the wholesale, retail and trade business, based on the guidelines on foreign participation in the distributive trade services Malaysia issued, the minimum share capital requirement is ranging from RM1 million to RM25 million and there is a need for bumiputra participation from 30% to 70%. For service providers operating in the oil and gas industry that require a Petronas license, they are required to have paid up share capital of not less than RM 100,000 and minimum bumiputera shareholding participation of either 30%, 51% or 100% depending on the type of services. 9 Share capital Requirement for Work Permit 10 Information and Time Required for Incorporating a Malaysian Company The minimum share capital for a company to employ an expatriate under a work permit is as follows: 100% local company owned RM250,000 Local + foreign owned RM350,000 100% foreign owned RM500,000 and above To incorporate a Malaysian Company, the following is needed: - The name of the proposed company. - Type of business activity. - The names, latest residential address, certified passport copy, nationality and business occupation of the directors and shareholders of the proposed company and for shareholders, the number of shares subscribed by each subscriber. (If the shareholder is a corporation, certified copies of the
Certificate of Incorporation, company profile from the Registrar of Companies ( ROC ) and Power of Attorney or a corporate representative certificate or notice (whichever is applicable) is required.) (The incorporation of a Malaysian Company would take 2-3 working days if all the documents for submission to the ROC are complete and in order.) 11 Opening of Bank Accounts 12 Annual General Meeting ( AGM ) The Malaysian Company may open bank accounts with any banks licensed with the Central Bank of Malaysia. (The timeline for opening of a bank account depends on the bank concerned; may be as fast as two weeks or up to two months.) A Malaysian Company is required to convene its AGM once a year to table its audited accounts made up to a date not more than six months before the date of the AGM. The audited accounts is required to be lodged with the ROC within a month from the date of the AGM. Under certain circumstances, approval from shareholders can be obtained by convening an Extraordinary General Meeting ( EGM ). 13 Tax Rate For a Malaysian Company A Malaysian company required to submit its tax return to the Malaysian Inland Revenue Board within seven months after its financial year end. A Malaysian Company is subject to corporate tax rate of 24%. In the case of a SME company where the paid up share capital is not more than RM2.5m, the corporate tax rate is as follows: First RM500,000 19% In excess of RM500,000 24% 14 Return on Investment / Repatriation of Profits Return of investment into a company is in the form of dividend. Dividend can be distributed out of the retained earnings of the company. Dividend payment is exempt from tax in the hand of the shareholders, both local and foreign shareholders.
Key Changes Under the Companies Bill 2015 The Companies Bill 2015 ( the Bill ) was passed at Dewan Rakyat on 4 April 2016 and Dewan Negara on 28 April 2016. It is anticipated that it will come into force by end of 2016. The Bill aims at easing the undertaking of business in Malaysia and strengthening the corporate governance. In this connection, we are pleased to provide you with the summary of the key changes under the Bill, the summary is non exhaustive. This update would certainly be helpful to the Korean Companies in better understanding the changes made as many Korean investors are already having companies or in the midst of setting up their companies in Malaysia. Key Changes Under the Companies Bill 2015 1 Minimum Number of Directors 2 Annual General Meeting ( AGM ) Private Company Existing Acts A minimum of two directors who must be natural persons and each has his principal or only place of residence within Malaysia. Revised Acts A company can be incorporated by a single member and that single member can also be the sole director. Existing Acts A private company is required to convene its AGM once a year to table its audited accounts made up to a date not more than six months before the date of the AGM. Revised Acts Private companies are no longer required to hold AGM. Public Company Public company must have at least two directors. Public companies are still required to hold AGM every calendar year. Following the abolishment of AGM, there will be a timeline to circulate the audited accounts among the shareholders. There is also a mechanism for the automatic reappointment of auditors, unless the shareholders decide otherwise.
The main method for private companies to make decision will be by way of written resolutions. 3 No-Par Value Regime Existing Acts The minimum paid-up and issued capital for a Malaysian Company is RM2.00 comprising at least two ordinary shares of RM1.00 each. Revised Acts Shares to be issued are without par value. Shares will be issued at a price. Share premium account, capital redemption reserves ( CRR ) and the concept of authorised capital will no longer be applicable. Transitional period of 24 months will be given to companies to utilise the amount standing in credit in the company s share premium account. 4 Memorandum and Articles of Association ( M&A ) Existing Acts An original of the Memorandum and Article of association shall each be stamped at RM100.00. Stamps are affixed at the Inland Revenue Board s stamp office. Revised Acts Companies will no longer be required to have a M&A. However, if a company wishes to tailor certain provisions for itself, it can then adopt a Constitution. Existing companies will have their respective M&A be deemed to be the new Constitution. 5 Introduction of Solvency Statements Existing Acts No such provision. Revised Acts There will be different varieties of new solvency test that will be applied for different situations. Directors must sign on the equivalent of a statutory declaration to verify that the company is solvent when the company undertakes the following: Reduction of capital Redemption of preference shares Provision of financial assistance Share buyback 6 Distribution of Dividends Where there is a breach of this solvency test, the directors will be personally liable and may face criminal sanctions. Existing Acts Return of investment into a company is in the form of dividend. Dividend can be distributed out of profits of the company. Revised Acts Dividends may only be distributed out of profits. Distribution can only be made when the company is solvent i.e. the company is able to pay debts as and when they fall due within 12 months immediately after the distribution is made.
If after authorization but before distribution is made, the company ceases to be solvent, the directors must take necessary steps to prevent the distribution. Company may recover distribution paid from shareholder Disclaimer If there is any inconsistency or conflict between the Korean and English versions, the English version shall prevail for all purposes. This publication contains general information only, and should not be construed as rendering professional advice or services by Deloitte. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser. No entity in the Deloitte Network shall be responsible for any loss whatsoever sustained by any person who relies on this publication. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ( DTTL ), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as Deloitte Global ) does not provide services to clients. Please see www.deloitte.com/my/about for a more detailed description of DTTL and its member firms. 2016 Deloitte Tax Services Sdn Bhd
Contact Us Services / Names Designation Email Telephone Korean Services Group Lily Park ( 박성은 ) Associate Director, 부장 lipark@deloitte.com (603) 7610 8595 Veronica Kim ( 김혜수 ) Jaden Ku ( 구자경 ) Semi Senior, 사원 Senior Executive, 사원 rokim@deloitte.com jaku@deloitte.com (603) 7610 8214 (603) 7610 8494 Lily Park ( 박성은 ) Veronica Kim ( 김혜수 ) Jaden Ku ( 구자경 ) Deloitte Malaysia Add Deloitte as a safe sender Deloitte Level 16, Menara LGB 1, Jalan Wan Kadir Taman Tun Dr. Ismail 60000 Kuala Lumpur, Malaysia Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ( DTTL ), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as Deloitte Global ) does not provide services to clients. Please see www.deloitte.com/my/about for a more detailed description of DTTL and its member firms. Deloitte provides audit, consulting, financial advisory, risk management, tax and related services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte s more than 225,000 professionals are committed to making an impact that matters. Deloitte serves 4 out of 5 Fortune Global 500 companies. This communication contains general information only, and none of Deloitte Touche Tohmatsu Limited, its member firms, or their related entities (collectively, the Deloitte network ) is, by means of this communication, rendering professional advice or services. No entity in the Deloitte network shall be responsible for any loss whatsoever sustained by any person who relies on this communication. About Deloitte in Malaysia In Malaysia, services are provided by Deloitte Tax Services Sdn Bhd and its affiliates. 2016 Deloitte Tax Services Sdn Bhd To no longer receive emails about this topic please send a return email to the sender with the word Unsubscribe in the subject line.