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What is Labuan company?

Updated time: 19 Jul, 2019, 10:57 (UTC+08:00)

Company Type: Labuan Company (Limited by Shares)

Labuan Company Name: The company cannot have a name resembling any other company’s name in Malaysia. The company name can be in any foreign language using the Latin alphabet. The company name must end with one of the following words or abbreviations: “Labuan”, “Limited”, “Co, Ltd”, “Inc.”, “Ltd”, or “LLC”.

Labuan Taxation: The tax rate is 3% upon the chargeable income from only the Labuan trading activities. This means the income from the Labuan non-trading activities (– ie the holding of investments in securities, stocks, shares, loans, deposits or other properties) of a Labuan entity is not subject to tax at all.

Limited Liability: Company is considered a separate legal entity. Its owner’s liability is limited to their contributions to the company’s capital.

Privacy: The names of directors and shareholders are not publicly accessible

Minimum Director: One. A director can be a natural person or a corporation. Corporate directors can reside in and be citizens from any country. There is no requirement for local directors.

Minimum Shareholder: One. Shareholders can be 100% foreigners.

Minimum Officers: There is no requirement to employ any other officers.

Minimum paid-up Capital/Minimum Issued Share: MYR 1.00

Minimum standard authorized Capital: The standard total authorized capital is $10,000 USD.

Type of share: Bearer shares are not allowed. Preference shares, registered shares with par value, shares with no voting rights and redeemable shares are permitted.

Registered Office and Agent: A Labuan company is required to maintain a local office address provided by a local agent as its registered address.

Accounting: Filing an annual report is required

Audit Report: All management accounts require to be audited by a Labuan auditor. No audit report is required for holding company.

Registration Time: 2 working days

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