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Company registration in Labuan in 2020

Doing business in this jurisdiction has the following benefits:

  • A developed economy and a favorable geographical location;
  • Labuan is a large banking center with a stable financial system;
  • Low tax rates; - A lot of double taxation avoidance agreements;
  • The possibility of 100% foreign ownership of the company;
  • You can register a company without a personal visit.

Business registration in Labuan – from 3600 €

Company registration period – from 10 days

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Labuan is one of the largest federal territories of Malaysia. It is located in the South China Sea, northwest of Borneo island. Labuan`s area includes 1 large and 6 smaller islands.
Today, this jurisdiction is an actively developing Asian International Business and Financial Centre with a stable circulation of financial flows of Malaysia, the Philippines and the Sultanate of Brunei. The strongest sectors of economy are: banking, financial and insurance services, tourism, oil and gas industry, food industry.
Setting up a company in Labuan can be a good idea both for launching a startup and for a business expansion.

Business advantages

If you are interested in registering a company in Labuan and opening a corporate account in Labuan bank, then here you can take a look at the main advantages of this jurisdiction:

  • Labuan is a part of Malaysia with the 3rd greatest economy in South-East Asia;
  • Malaysia ranked 23rd place on competitiveness in the world;
  • Free Trade Zone and a Free Port;
  • High quality of life;
  • Favorable climate for investment and development of small and medium-sized businesses;
  • Skilled labour;
  • Highly developed banking system (more than 60 financial institutions located in Labuan);
  • 68 DTAs with Switzerland, Belgium, Canada, Australia, Czech Republic, Germany and others;
  • Flexible taxation system.
Legal forms

If you want to set up a company in Labuan remotely you should know that there are only two business types allowed in this jurisdiction: Trading and Non-trading companies.

You can open a Trading Company choosing such business spheres as: import and export operations, banking, financial and consulting services, etc.

And if you want to open a Non-Trading company, you can give preference to dealing with shares, investment, deposits and the like non-trading instruments.

Regulator`s conditions

In the first case, if you want to register a Trading Company in Labuan, you will need to meet the following conditions of the Regulator:

  • Minimum 1 director and 1 shareholder of any nationality (individuals or entities);
  • Minimum paid up share capital – 1 USD;
  • Statutory audit for all accounts of the company;
  • No trade license requirements;
  • No requirements for resident director, shareholder or manager;
  • No local registered office requirements.

And, in the second case, if you would like to open a Non-Trading Company in Labuan you should meet all the above conditions, except the statutory audit.

Tax rates

Entrepreneurs, which are planning to register a company in Labuan and open a business account in Labuan bank should know that non-trading companies in Labuan are exempt from the income tax. Also, trading companies are subject to 3% income tax on annual net profits.

As for the other taxes, there are no requirements for:

  • VAT;
  • Custom duties;
  • Stamp duties;
  • Withholding taxes on dividends, interest payments and royalties.
How to open your own business in Labuan

If you are interested in registering a company in Labuan remotely it will be better to consult our competent lawyer. IQ Decision company can propose you a full set of legal services, such as: a corporate account opening, conducting a business analysis of jurisdiction, fast preparation of papers and many others.

The registration process usually takes 7 days.

  • The information outlined in the article is actual at the time of its publication.

  • Please refer to our specialists for checking possible solutions for your business.

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