TRADE COMPANY IN LABOAN
Labuan is the federal territorial unit of Malaysia. Back in 1990, the authorities organized an International Offshore Financial Center on this island. Today, a lot of large successful companies register subsidiaries in Labuan. In this article you will get more information about trade company in Laboan.
If you want to register a trading company in Labuan, you can choose the appropriate tax system:
- pay a tax of 3% on net profit;
- pay a fixed amount of 5 thousand EUR per year.
Dividend tax – 0%. After registration, the company receives a tax number.
Confidentiality and governance structure
The register of enterprises in Labuan is closed. Information about the director and shareholders of a legal entity can be obtained only after an official request. Information about the beneficiary is an internal document of the company and is located at the registrar.
A legal entity must have at least one director and one shareholder. The citizenship of the director does not matter. It is possible to use a nominee service. Each company must have a local secretary.
Each year, the company must submit an Annua Report (the report must contain up-to-date information about the company, board of directors, shareholders, legal address).
Companies that have chosen to pay tax at a rate of 3% need to file an annual financial report. This report must be approved by the auditor. For other types of companies, it is not necessary to submit a financial report.
We draw your attention to the fact that this article is for informational purposes only. For more advice, contact us at the contacts listed on the site.