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Labuan

Labuan Flag

Country: Labuan
Region: Asia-Pacific
Currency: US dollar (USD) (US$), Malaysian Ringgit (MYR) (RM)
Languages: English, Malay, Chinese, Tamil
Time Zone: UTC +8

Phone Code: +608

Communications: Very Good

Formation Cost: 3200 - 4600 USD$
Formation Time: 1 - 2 days
Maintenance cost: 2200 - 2800 USD$

Executive Summary: Although Labuan is part of Malaysia, it has its own ‘offshore’ regime. Labuan companies can make use of Malaysia's extensive double tax treaty network, and as a result the island has become a preferred conduit for FDI to a number of ASEAN countries. A stock exchange aimed primarily at the listing of Islamic financial debt issues has had considerable successes. Offshore companies engaged in trade pay 3% tax or can elect to pay a fix sum of RM20,000 (approx. US$6,500); all other offshore companies are exempt. There are many incentives and exemptions which make it possible for most mainland Malaysian profits to be repatriated tax-free through Labuan. The FSA has built an e-commerce infrastructure which can be used by incoming e-commerce operations and new financial markets.

Suitable for: Wealth Management, Banking, Insurance, Fund Management, Shipping, Aviation, Trading Goods, Trading Financial, Intellectual Property/Licensing, Holding Companies
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Company Purpose Stats:

Wealth Management:

 

Treasury Management:

 

Banking:

 

Insurance:

 

Fund Management:

 

Shipping:

 

Aviation:

 

Yachting:

 

Trading Companies Goods:

 

Trading Companies Financial:

 

Intellectual Property:

 

Holding Companies:

 

E-Commerce:

 

E-Gaming:

 

Property Ownership:

 
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Vehicle Types: Limited companies, public limited companies, branches, trusts, foundations, general partnerships, limited partnerships and protected cell companies

Capital primary business districts: Labuan Town, Kuala Lumpur

Good Relationships: China, India, Indonesia, Japan, Malaysia, Singapore, United States

Bad Relationships: Cuba, Iran, Korea (Democratic People's Republic of), Libya, Somalia

Tax Burden - Business: Very Light

Tax Burden - Individual: Light

Headline tax rates: CIT 25% (offshore trading company 3%; non-trading 0%), PIT 26%, VAT 0%

Treaty Jurisdictions: Albania, Australia, Austria, Bahrain, Bangladesh, Belgium, Brunei, Canada, China, Croatia, Czech Republic, Denmark, Egypt, Fiji, Finland, France, Hong Kong, Hungary, India, Iran, Ireland, Italy, Jordan, Kazakhstan, Korea, Republic of, Kuwait, Kyrgyzstan, Laos, Lebanon, Malta, Mauritius, Mongolia, Morocco, Myanmar, Namibia, New Zealand, Norway, Pakistan, Papua New Guinea, Philippines, Poland, Qatar, Romania, Russia, San Marino, Saudi Arabia, Singapore, Sri Lanka, Sudan, Switzerland, Syria, Taiwan, Thailand, Turkey, Turkmenistan, United Arab Emirates, Uzbekistan, Venezuela, Vietnam, Zimbabwe

TIEA Jurisdictions: Bermuda

Information Links:

 

 

 

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Important Notice: Wolters Kluwer TAA Limited has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.

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