A Labuan company offers some great advantages for entrepreneurs. Firstly, it is easy and quick to open an LLC in Labuan since it can be incorporated within just one week. The minimum paid up share capital is US$1 and a minimum of one shareholder and one director of any nationality are required. Healy Consultants makes it possible for its Clients to incorporate their business in Labuan without having to travel.
Labuan company incorporation permits 100% foreign ownership. It is possible to structure a Labuan company such that legitimate tax-exemption on international trading can be benefitted from. Labuan has no sales tax, surtax, excise, or import and export duties. An offshore company does not trade and does not pay tax. For trading companies, they may choose to pay either 3% tax on audited net profits or pay a flat rate of US $6,000 per annum.
Furthermore, a Labuan company accesses double taxation treaties Malaysia has signed with 68 countries. There are no withholding taxes on dividends paid by offshore trading or non-trading companies. There are no inheritance, death, or estate taxes. Foreign employees working for Labuan offshore companies are eligible for personal tax concessions such as 50% discount in custom and excise duty on personal vehicles.Labuan offshore companies can own controlling stakes in a Malaysian domestic company and are also allowed to undertake shipping operations with non-residents.
There is no public register of shareholders and directors following Labuan company setup. Labuan has a very liberal policy in relation to exchange controls for offshore business activities.A company allows you to rent real estate in Malaysia, get Labuan visas and hold a bank account in Malaysia.. More than 50 of the world’s top banks have branches in Labuan. Click here to view the list of bank available for investment. Healy Consultants can open a Labuan or international corporate banking accountto support Labuan company incorporation.
Unit 3A-25, U0350
3rd Floor, Labuan Times Square
Jalan Merdeka, 87007 Labuan
Tel: (+65) 6735 0120