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Loosely related with the article, do you need to give significant share to "locals" if you're starting a company in the US? For example, in Malaysia and Singapo
by wiradikusuma 14y ago
Loosely related with the article, do you need to give significant share to "locals" if you're starting a company in the US? For example, in Malaysia and Singapore (CMIIW), unless you put huge amount of money up front, foreigners are required to partner with locals and give >50% share to them. I.e. foreigners cannot have majority share if they start a "normal" company (not big).
- jacquesm 14y agoNo, you don't. You can even incorporate as a sole proprietor without any locals having a stake at all. Ditto in Canada and most of Western Europe with some exceptions.
- czcar 14y agoJust to clarify - this is not the case in Singapore. A local director is required if the directors do not have work visas, but the companies can be wholly owned by foreigners.
- ngsayjoe 14y agoNo way what you're saying is true for both Singapore and Malaysia. Some shares need to be allocated to locals though if you IPO in the country.
- wiradikusuma 14y agohttp://onlinebusinessmalaysia.com/starting-a-business/setting-up-a-business-in-malaysia-for-foreigners/ http://onlinebusinessmalaysia.com/starting-a-business/settin... and read the first comment (by Denis)