General Trades Companies in Malaysia
A General Trades Company (GTC) is a company that is registered with the Malaysian Ministry of International Trade and Industry (MITI) to carry out businesses that are related to general trading.
A GTC is allowed to import and export a wide range of products, including but not limited to food, beverages, tobacco, textile, timber, minerals, and chemicals.
A GTC must have a paid-up capital of at least RM2.5 million, and at least 51% of its shares must be owned by bumiputera (Malaysian citizens of indigenous descent).
The main advantage of setting up a GTC is that it allows businesses to import and export a wide range of products without having to apply for separate licenses for each product.
However, GTCs are subject to certain restrictions, such as a requirement to maintain a minimum level of paid-up capital, and a limit on the ownership of shares by non-bumiputera.
A GTC is allowed to import and export a wide range of products, including but not limited to food, beverages, tobacco, textile, timber, minerals, and chemicals.
A GTC must have a paid-up capital of at least RM2.5 million, and at least 51% of its shares must be owned by bumiputera (Malaysian citizens of indigenous descent).
The main advantage of setting up a GTC is that it allows businesses to import and export a wide range of products without having to apply for separate licenses for each product.
However, GTCs are subject to certain restrictions, such as a requirement to maintain a minimum level of paid-up capital, and a limit on the ownership of shares by non-bumiputera.
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