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It’s convenient, flexible and hassle-free.
Flexible tax system is the lifeblood of Labuan. Its business-friendly environment, anchored by a simple and attractive tax system, is well-supported by a robust, modern and internationally-recognised legal framework enforced by its regulator, Labuan Financial Services Authority (Labuan FSA). Labuan International Business and Financial Centre (IBFC) boasts a wide range of business and investment structures facilitating cross-border transactions, business dealings and wealth management needs. These unique qualities offer sound options for regional businesses going global or global businesses looking into penetrating Asia’s markets.
Labuan company has the lowest tax rate within southeast Asia which is 3% from net profit, no withholding tax and more for companies involved in trading activities. Whereas, for Labuan companies solely for investment holding purposes, there will be no tax charges and audit reports are not required.
Proximity to time zones and strategic location. Ideally located in Asia as such of Hong Kong, China, Japan, Korea, India, and Malaysia and of course being part of ASEAN which has a combined population of more than 600 million people, make us the world’s third largest market.
Including a robust network of banks offering both conventional banking as well as Islamic banking products and solutions. Most offshore companies make use of virtual office services, for accounting needs, employees/staff or a physical office, as this is more cost effective.
Operation cost is low compared to some of the other major Asian cities. Educated population being a source of skilled workers with English widely spoken. Also, Labuan work permit enables foreign businessmen to stay and work in Malaysia.
Cost of doing business is low compared to other major business centre. Traditionally, you were required to have a local citizen as your associate in order to register a company in Malaysia. Now, the country’s commercial legislation foreigners to incorporate a company with 100 percent ownership. This regulation is applicable in Labuan as well.
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