Understand the Jurisdictions Setup Requirement Before Proceed Your Labuan Company Formation
Labuan comprises of a few small islands located off the coast of Sabah, and it is part of the Federal Territory of the Federation of Malaysia. Following the passage of the new commercial laws, Labuan is now an international financial center. It is also the major getaway to the markets in the greater Malaysia as well as the hub of international business in the region. These and many other factors make the prospects of starting a business in Labuan promising. It is also easy to understand why so many entrepreneurs are interested in Labuan company formation. You’ll be glad to know that it is one of the three islands in the country where goods are free of taxes.
The Benefits of Setting Up a Company in Labuan
Labuan developed as a centre for the domiciliation of offshore business, and as such, it has very simply incorporation procedures and highly attractive taxation system. One of the things you will find admirable in Labuan is that the company registration in the country allows for full foreign ownership. Additionally, only one person is needed to form a company – they will double up as a shareholder and as a director.
It is also important to point out that the company formation process can be completed in just two weeks, and the investor doesn’t have to be physically present in the country during this period. As such, all you need is a reliable corporate service provider like us to task with the process of company formation as you concentrate on the other aspects of starting your business in Labuan.
Important Facts about Company Formation in Labuan
Here are a few company formation facts you should know about Labuan-:
- Time to incorporate a company. You can complete the Labuan company formation within two days, including the reservation of name. After the reservation of company name, it will be valid for up to three months.
- Registration fees. There are a minimum and maximum registration fees of $300 and $1500 respectively depending on the amount of capital you will be starting with. However, it is common for most companies to pay the minimum registration fees.
- Taxation. It is the taxation system that draws most people to start businesses in Labuan. For trading companies, the tax is just 3% on the annual profits. Meanwhile, investment companies don’t have to pay any tax.
- Annual government fee. There is an annual government fee of RM2600 irrespective of the capital structure.
- Local registered office. It is a legal requirement that any business incorporation must have a registered office.
Why Use Our Services
Working with us for your Labuan company formation comes with a wide range of benefits, including but not limited to:
- You get all services under one roof – we are a team of skilled and experienced accountants, lawyers and tax consultants.
- We offer fast, reliable and customized company formation services.
- We are a fully-fledged Labuan Trust Company recognized by Labuan IBFC. Contrary to other service providers, we will not charge you insane rates.
- We have connections with international tax and audit firms in Labuan, Singapore, and Kuala Lumpur
- Our rates are affordable and always willing to help you start smooth operations in Labuan
At 3E Accounting United Kingdom, we can take care of the company registration process from beginning to end. Work with us in your Labuan company formation for a seamless process. Contact us via phone or send us an email if you need more information about our incorporation services.