If you change your tax residency status from Malaysia tax resident to (i) non-Malaysia tax resident or (ii) dual tax residency status or (iii) U.S. Person, you are required to take the following steps:
(a) Firstly, you must update / notify BR Capital of such change in your tax residency status by emailing brcsupport@bursamalaysia.com;
- If applicable, you are responsible for bearing any withholding tax imposed by the IRBM on the interest or profit payable to you, and comply with all requirements in relation to withholding tax. BR Capital shall deduct the applicable amount of withholding tax from the interest or profit payable, and remit the said withholding tax amount to IRBM;
(b) Secondly, you are not permitted to further invest in any new Investment Note;
- If you still have investment amounts in your Investor account, you may either hold your existing Investment Note up to its maturity or dispose your existing Investment Note in the Secondary Market; and
(c) Lastly, you will need to close your Investor account within five (5) business days from the date your Investor account has zero balance (i.e., zero investment balance and zero cash balance). If you fail to close your Investor account within the stipulated timeframe, the Investor account will be closed by BR Capital and we shall not be liable to any party for any reason for the closure of the Investor account.