Types of Yayasan/Foundation

By AZIZAM AZIZAM

Yayasan also known as Malaysia Foundation is build up to provide support to the group of people or the needy and is not establish for the purpose of profit making. It can be set up in order to help students, sustain various fields or to offer assistance to special categories of persons (disabled, poor etc.). It is important to know that a foundation gains finances from funds donated by natural persons or legal entities

Do not hesitate to contact us if you want to establish your own foundation

Two types of Foudation/Yayasan that can be set up in Malaysia :

 

YAYASAN (SSM)

YAYASAN (JPM)

Act

Companies Act 2016

Trustees (Incorporation) Act 1952

 

Function

Established exclusively for charitable purposes without any profit oriented.

Established exclusively for charitable purposes without any profit oriented.

Objective

13 Objectives Allowed:

1) Promote recreation or entertainment

2) Promoting trade @ industry

3) Promote the arts

4) Promote science

5) Promoting religion

6) Promote welfare

7) Promoting pension @ retirement scheme

8) Promote any objective that is useful to the community or country such as:

  • Environment
  • Health
  • Education
  • Research
  • Social or Sports

5 Objectives Allowed:

1) Religious

2) Education

3) Literature

4) Scientific

5) Social or Welfare

Duration

More than 3 months 

About 8 months

Fees

1 Million

Do not need 1 Million

Requirement

Minimum 2 trustee

Minimum 3 trustee

Position

Secure

Secure

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