Types of Yayasan/Foundation
By AZIZAM AZIZAM
The opening of the Yayasan under JPM is postponed until further notice
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:
|
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 |
