Benefits of Writing a Will: What You Need to Know
Writing a will is an important task that everyone should consider. It is a legal document that outlines how you want your assets to be distributed after you pass away. Writing a will can help ensure that your assets are distributed according to your wishes and can help avoid family disputes and legal battles. Engaging a lawyer to write your will can be beneficial as they can provide you with legal advice and ensure that your will is legally binding.
Grant of Probate: What It Is and How It Works With a Will?
Probate is a legal process that validates and administers the distribution of a deceased person’s estate, assets, and possessions according to their last will and testament.
When someone passes away, their estate (property, bank accounts, investments, personal belongings, etc.) needs to be properly handled and distributed to beneficiaries or heirs. Probate serves several important purposes.
Frequently Asked Questions (FAQ) on Industrial Design in Malaysia
Looking to delve into the world of industrial design in Malaysia? Unravel the key FAQs about registration, characteristics, ownership, and more to make the most of your creative journey. Explore now!
2022/2023 Stamp Duty Exemption and Remission under i-Miliki Home Ownership Programme for First Home Buyers
The Malaysian government’s i-Miliki initiative introduces updates to the Stamp Duty Exemption and Remission program, aiming to boost home ownership. With attractive incentives, individuals purchasing residential properties within specific price ranges can benefit from significant stamp duty exemptions and remissions. By reducing the financial burden associated with property transactions, these measures encourage affordable housing and stimulate economic growth. Eligibility requirements, such as executing a Sale and Purchase Agreement and not owning any previous residential property, ensure that the benefits reach those in need. Through these updates, the government aims to create a more inclusive and accessible housing market for Malaysian citizens.
Uncontested Divorce: Divorce Without Kids and Agreed By Both Parties
In Malaysia, the estimated timeline for an uncontested divorce without children can vary depending on several factors. While it’s challenging to provide an exact timeframe, the typical duration is around six months. The process involves filing a divorce petition, serving it to the other spouse, and obtaining a divorce certificate. However, please note that the timeline depends on factors such as court workload and specific circumstances.
Navigating Investment Scams in Malaysia: Your Action Plan to Counter Financial Fraud
Fallen victim to an investment scam? Our comprehensive guide lays out the necessary steps to protect your interests and recoup your losses. Learn about the importance of gathering evidence, the process of reporting to authorities like Bank Negara Malaysia, and the critical aspects of the Contract Act 1950. We delve into crucial definitions such as fraud and misrepresentation, and discuss the conditions under which a contract can be voided. Our experienced law firm is equipped to support you in this challenging situation, protecting your rights and helping you navigate the complexities of investment fraud cases.
RCEP and CPTPP agreements: How will they benefit Malaysia?
In the rapidly evolving global trade landscape, Malaysia has secured a strategic position through its involvement in the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). These groundbreaking Free Trade Agreements open up vast markets, streamline regulatory procedures, and offer numerous benefits to Malaysian businesses.
RCEP, the world’s largest free trade agreement, encompasses a population accounting for almost 30% of the global total and similar proportions of the world’s GDP and trade volume. This alliance offers Malaysian businesses unprecedented access to markets, raw materials, and opportunities for supply chain integration, while promoting information sharing, cooperation, and trade facilitation.
The CPTPP, on the other hand, offers access to untapped markets, such as Canada, Mexico, and Peru, with the potential inclusion of the United Kingdom. It promises to make almost all Malaysian exports duty-free by 2033, fostering a more secure and transparent trading environment with provisions for good governance, anti-corruption measures, and user-friendly compliance regulations.
Both RCEP and CPTPP are reshaping international rules, procedures, and measures, creating a smoother and more efficient trade and investment environment. Malaysian business owners stand to benefit significantly from these agreements, not just in terms of market access and cost savings, but also through enhanced competitiveness and business growth opportunities. These strategic partnerships are also projected to boost Malaysia’s economic reputation and overall welfare in the long run.
Find out more about how RCEP and CPTPP are set to drive the next wave of economic growth and prosperity for Malaysian businesses in our comprehensive analysis.
RPGT: Real Property Gain Tax Rate 2023 for individuals and companies & how to calculate it?
Explore Malaysia’s Real Property Gain Tax (RPGT), a tax on profit from the sale of land, shares in Real Property Companies, or real property by individuals and companies. Learn about the 2023 RPGT rates for citizens, permanent residents, non-citizens, and companies, as well as available RPGT exemptions, including once-in-a-lifetime exemptions and gifts between family members. Understand the importance of timely payment and potential penalties for non-compliance. Stay informed on the latest changes to the Real Property Gains Tax Act 1976 and Finance Act 2021.
Legal Perspective: How to buy an auction property?
Learn how to buy an auction property with this legal perspective guide. Discover the types of auction properties, pre-auction procedures such as research, inspection, and registration, and understand the bidding process and post-auction steps. Ensure a smooth transaction by seeking legal advice and being well-prepared before participating in a property auction.
Protect your brand & logo: How to register trademark abroad?
Explore the process of registering an international trademark from Malaysia under the Madrid Protocol. Key requirements include Malaysian nationality or establishment, and a registered or applied mark in Malaysia. Submit applications and fees through MyIPO and WIPO, with fees varying based on mark reproduction and designated countries. The timeline involves MyIPO review, WIPO examination, and potential irregularity resolution, taking approximately 2 months before registration, publication, and certificate issuance.
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