One of the few popular offshore financial centers in Asia is Labuan, Malaysia. It has attracted a wide array of foreign investors and multinational businesses from all over of the globe by using Labuan as the operational center of their international business. One of the major benefits that attract the foreign entrepreneurs is the low tax regime. You can trade within the country at a very low tax percentage, to trade outside Malaysia, you don’t need to pay any tax. You don’t need to pay service tax & sales, and GST for your sales transaction. Thus, with Labuan offshore company formation you can save a big and can avail heavy tax exempt. Moreover, Incorporation Company grants you to receive your sales in your chosen foreign currency that are in Euro, USD, etc. Additionally, there is no Withholding tax for interest, management, technical, dividend, lease rental, or royalty. On the basis of your election, the yearly taxation on the profit for trading businesses is very low that is 3% only. There is no Tax on the Investment Holding Company structure.
Another key advantage is that Labuan offshore company is the simplest form of jurisdiction, where Incorporation of Labuan International Company can be owned 100% by foreigners, No local Malaysia partner is required for the incorporation. Also, a huge range of trading activities is permissible in this jurisdiction. It has a simple legal structure of for the offshore company formation that is instead of heavy documentation and complex structure, the formation needs only need one Director and one Shareholder. Additionally, both the position can be of the same person.
After the Labuan offshore company formation, personal bank account or corporate bank account can easily be opened in Malaysia in any foreign currencies and in RM. With an offshore bank account, you can easily do the transaction from any corner of the world and at any time. With the Labuan jurisdiction, you can avail the benefits including low taxation, privacy & confidentiality, business-friendly environment, great business infrastructure, offshore bank account, and a huge range of opportunities for growth.
Labuan offshore company formation opens the door of a huge range of opportunities for growth including 600 million potential of Asian Economic Community. If you are looking to set up a hub for your business, then Labuan might be a perfect offshore jurisdiction for you and for your business. Incorporation of Labuan offshore company is comparatively simpler and quick and can be completed within 14 days. Whether you are forming the company for import, export, eCommerce, trading, or consultancy businesses, you don’t need Trade Licenses.