Opening of business in Labuan
How to open a business in the Mauritius?
Labuan, a small island forming part of Malaysia, currently is the largest centre of concentration of business. Open port and convenient location in the vicinity of the Philippines and Brunei allow effective conduct of business not only with the representatives of this Asian region, but also with the whole world. The history of establishment of a progressive entrepreneurial centre goes back into the distant 1990, when an offshore area operated on this territory, which was later, in 2010, re-qualified into completely unlimited. The legality of the operations conducted here is confirmed by the report of the US Department of State Control.
Business in Labuan
Labuan is party to more than 40 agreements on the prevention of double taxation. France, Austria, Russia, China, the Netherlands, Australia and many other states are among the parties to these agreements. Illustrative example of leading powers maintaining political and economic relations with small Malaysian administrative island attracts entrepreneurs from all the world.
Business in Labuan is simple and transparent. Effective tax policy creates a feverish boom, since in respect of local business owners the following taxes are absent here:
- On sales and services,
- On goods and services,
- Retention on dividends,
- On capital gains.
Business in Labuan is a peculiar kind of offshore.
Main activities are:
- Insurance,
- Management of private property,
- Bank leasing,
- Trade.
Registration of business in Labuan
Legislation allows entrepreneurs to legalize different forms of enterprises. Among them, the most optimal for a non-resident are:
- Commercial
- Non-commercial
The following companies are distinguished by type and limit of responsibility, :
- At the rate of issued shares,
- With limited liability,
- With unlimited liability.
This division is characterized by various forms of fiscal regulation. The tax rate here is the smallest. It is 3% or not more than $ 5,000 for trading companies. In case of paying a fixed fee, the state withdraws the requirement to appoint an accountant and annual financial reports. For non-trading companies, 0% is provided.
The minimum shareholder contribution is $ 1. The number of shareholders is from 1 to 50.
The establishment of the company is carried out in the shortest possible time and does not require the direct presence of the founder in the country. In addition, the director can be not the citizen of Malaysia, since the non-resident owner can act in this role as a director and as a founder.
The necessary minimum package of documents for successful registration of business in Labuan includes:
- Application,
- Statute,
- Declaration on observance of legal norms,
- Certificate of payment of state duties,
- Protocol on the appointment of a director.
Registration of business in Labuan and the benefits resulting from this fact:
- Quickly in 1-2 days,
- Absence of currency control,
- Exclusion of double taxation,
- Low tax rates,
- Getting rid of most income penalties,
- Leadership the company directly by the founder,
- 00% probability of obtaining a business visa,
- Rights and duties of residents.
Our company specializes in opening businesses all over the world, including Labuan. Having a staff of qualified specialists, we will carry out it quickly and safely. By contacting us you can start your own business in this country remotely and without delays. Becoming the owner of a profitable business has never been so simple.
Please, select organizational and legal form of the company You are interested in:
