Redomicile Guide to Labuan Jurisdiction
Labuan Jurisdiction is one of the destinations you should consider to re-domicile for your business! Labuan is a better place to re-domicile your business to because it has a better reputation compared to other other jurisdictions. Jurisdictions that are zero tax and free of compliance requirements may attract a lot of attention of the tax authorities.
Labuan business set up gives legitimacy and tax proofing to your business. The reason is all businesses are required to submit yearly compliance and annual return to Labuan Finances Services Authority (Labuan FSA) and tax returns to the Inland Revenue Board. This re-domicile guide to Labuan Jurisdiction helps you to understand better why there is more and more companies from other jurisdiction will consider Labuan!
10 main reasons why you should choose Labuan Jurisdiction(Subject to Substance Requirement):
- Labuan is a “mid-shore” jurisdiction which allows you to target international and local Malaysia market for business in one tax rate of 3% for trading and investment holding is 0%
- Labuan location is strategic within ASEAN where the economic growth is and share common time zones with most of part of Asia
- Labuan is CRS compliant jurisdiction, complete with infrastructure supported by West Malaysia to assist your business growth and allow you easily create affordable substance for your business continuity and expansion
- Labuan has a robust regulatory framework with a full range of Legislations and Acts regulated by Labuan FSA under common law practice
- Labuan provides a complete range of business solutions and entities for your choice from the trading business, investment structures for cross-border, international transactions to wealth management tools
- Labuan provide both conventional and Islamic Syariah compliance for banking and wealth management to suit your needs
- Labuan is a well-regulated jurisdiction for private wealth management for trusts, foundation, limited partnership, and private trust companies
- Labuan adopts a simple tax framework under the Labuan Business and Tax Act (LBATA) as follows:
- Trading company – corporate tax will be 3% on net profit
- Investment Holding company – 0% corporate tax on any amount of net profit
9. Labuan does not impose withholding taxes on payments to non-resident persons for payments of dividends, interest, royalties and directors’ fees
10. Malaysia is one of the widest countries with access to more than 70 tax treaties partners to enable you to save further tax.
Labuan re-domiciliation allows your company to maintain the same legal entity. Labuan FSA generally accepts re-domicle businesses from most of the prominent jurisdictions. You are most welcome to speak with us on your business objectives and we can help you to evaluate your profile for successful re-domiciliation to be accepted by Labuan FSA.
Tricor’s ‘One Labuan Platform’ for your convenience to subscribe to all services in one stop to simplify your investment in Labuan from day one! Drop us an inquiry form for advice that Labuan entity is right for you to meet your objectives. Alternatively, call us at +603-2783 9191 (Labuan Division) for a face to face meeting at our Kuala Lumpur office.
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