Labuan
Capital: Labuan.
Official languages: Malay.
Currency: Malaysian ringgit.
Company registration provides the following benefits
- Low tax rates.
- Well-developed supporting infrastructure.
- Fast registration procedure.
- Entering the Malaysian market.
- Well-regulated financial system.
Labuan is a federal territory of the Federation of Malaya.
In Labuan, companies can register with minimal tax obligations and enjoy unique offshore financial opportunities. The financial sector industry formed in this region has its roots in the 90s of the last century when the International Offshore Financial Center was created in Labuan.
This region is also distinguished by its favorable geographical location: Labuan is located between Malaysia, the Philippines, and Brunei and is adjacent to global financial and economic centers such as Hong Kong, Singapore, Jakarta, and Kuala Lumpur.
Features of taxation and reporting
The Labuan regime provides for a minimal reporting burden and low taxes for offshore businesses.
- Corporate income tax is 3% of a company's net taxable income.
- There is no VAT, sales tax or withholding tax.
- Financial statements are submitted once a year. Se companies require a mandatory annual audit.
Company registration
Time frame for company registration: 3 days.
The most common form for company registration is Labuan company limited by shares (LCL).
The first step for registration is the preparation of a set of legal documents for submission to the state registration authorities.
Among other things, in order to register a company you will need to indicate the main type of activity of the company, expected outgoing and incoming payments, capital and number of shares.
To register a company remotely, you will need to provide the following information:
- Choosing a company name: three options are required.
- Company Charter (Memorandum of Association) and Company Regulations (Articles of Association).
- Copies of passports of shareholders and directors.
- Resume of the director of the company and certificate of income.
- The company's registered office address is in Labuan.
A quick guide to registering a company in Labuan:
To quickly register an LCL in Labuan, contact IT-OFFSHORE specialists. Our services cost includes:
- Preparation of documents (collection, filling, notarization, etc.).
- Company registration.
- Payment of all government fees.
- Registration agent services for one year with an extension possibility.
- Translation services.
- Delivery of registration documents to any address.
The bottom line
Registering a company in Labuan provides attractive conditions for entrepreneurs who want to minimize tax obligations and take advantage of the advantages of an offshore center. Correct adherence to procedures and the provision of necessary documents are essential for the company's successful registration and further legal functioning in this financial center.
We recommend that you seek advice from qualified IT-OFFSHORE consulting specialists who have experience working in this jurisdiction and will be able to register your company in Labuan in the shortest possible time.
We offer legal support for company registration and a wide range of services, including accounting services, nominee services, and full support of the company after its registration. Thus, we provide full year-round service to your company.
