CRS Solutions For Labuan OffShore Company
With CRS (common reporting system) already kicked in, all offshore jurisdictions will be affected. Sharing of financial data and ownership by the financial institutions may affect your presence in a particular jurisdiction which you have set up your business entity. The CRS solution is to overcome and to justify to Tax Department is to introduce to your clients the importance of having commercial substance to validate their business having their presence in that particular jurisdiction. For example, if you own a BVI company, your office including banking, meetings, staff employment should operate from BVI. For Labuan jurisdiction, we glad to outline the CRS solutions for Labuan offshore company for your better understanding.
Six (6) key elements of commercial substance for tax proofing your set up which the Tax Department would like to see:
Not every jurisdiction has the advantage for your clients to easily create substance. Here are three (3) major concerns on CRS solutions:
- Too far a distance to fly for meeting and manage operations for jurisdictions like Cayman, BVI, Seychelles or Dubai
- Too expensive for jurisdiction like Mauritius, Hong Kong, and Singapore for operations set-up
- The time difference can also be the added stress on top of managing the operational substance. CRS solutions for Labuan offshore company
Banking account in other jurisdictions away from the registered place may attract closure of bank account in future by the bankers to meet their CRS and internal compliance policies. Tax Department also will not issue Corporate Tax Certificate should the substance criteria not fulfilled. Labuan jurisdiction is a perfect place for Asia cross businesses with the lower cost of operation, strategic location with full infrastructures ready to create a real business with substance. Complete solutions in one place! Let’s take a closer look at what Labuan Jurisdiction has to offer!
12 key advantages of Labuan for affordable operation!
So, how much does it cost you to set up substance @ Labuan?
Check out Labuan Offshore Company Tax Benefit and Compliance!
We provide complete CRS solutions for Labuan offshore company to assist you to comply with the current CRS guidelines to kick start your office operations in Labuan as follows:
- Office space set up
- Business center secretarial service
- Human resource hiring
- Billing assistance. CRS solutions for Labuan offshore company
Validate your business with engaged office space @ Labuan! Being our clients, we will help you to get started easily with an affordable solution at the point of incorporation of your Labuan Company! With the valid address in Labuan, bankers will be confident to build a relationship with you and your business! Have look here! for complete space solutions!
Start your new Labuan Company set up or have your current company to re-domicile to Labuan. We work both ways. Feel free to send us your inquiry for better advise to meet your business objectives in Malaysia. We “simplify the complexities” of your investment in Labuan! CRS Solutions For Labuan OffShore Company