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ADGM, Labuan IBFC Strenghen Cooperation

by Lorys Charalambous, Lowtax.net, Cyprus
31 July, 2017

Abu Dhabi Global Market (ADGM), the low-tax international financial center, and the Labuan International Business and Financial Centre (Labuan IBFC) have agreed to cooperate more deeply on the regulation of financial services.

Two cooperation agreements have been signed, under which the two entities will share information on banking, financial services, securities legislation and regulations in each market. The centers will also explore beneficial projects to facilitate long-term opportunities in infrastructure financing, new innovations in financial technology (Fintech), and green finance. The centers will also cooperate on supervising financial institutions and support cross-border activities in the Abu Dhabi and Malaysian financial sectors.

Labuan IBFC is located on the island of Labuan, a federal territory under the administration of the Federal Government of Malaysia. It offers a preferential tax regime, including no capital tax gains, no tax on investment holding activities, no stamp duty on instruments related to offshore business activities, and no withholding tax on dividends, technical fees, interest, and royalties.

ADGM is an international financial center established in 2013. It offers a range of attractive benefits to firms, including exemption from taxes guaranteed for 50 years, and relaxed rules on the repatriation of profits. ADGM permits 100 percent foreign ownership.


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