Labuan, a Federal Territory of Malaysia, was originally established on 1 October 1990 as an international offshore financial centre to provide for the development of activities in the areas of banking and insurance, trust and fund management, investment holding and other activities. Labuan IBFC was established in year 2008 as the official agency for promotion and marketing of Labuan.
Reasons to do business in Labuan include:
- Favourable tax structure
- A well-regulated jurisdiction
- Modern legislation
- Relationship with Malaysia
- Easy company formation
- Foreign ownership
- Geographical advantages
- Globally connected
- Cost-effective platform
Like all markets in Asia, Labuan has unique business and cultural traits that shape a company’s experience in the city. To avoid any unintentional faux pas and to make life easier, here is a list of important facts about doing business in Labuan:
- Double taxation agreements
- Labuan FSA
- The Labuan Companies Act 1990
- Labuan protected cell companies
- Labuan partnership