Capital:
Bandar-LabuanForm of government:
Constitutional monarchyArea:
92 km2Population:
86 908 personCurrency:
Малайзийский ринггитLabuan
A dependent federal territory of Malaysia called Labuan is located near the northwestern coast of the island of Barneo. It includes the island of the same name Pulau Labuan, as well as several small islands with a total area of 93 sq. km. About 86 thousand people live here, who speak mainly Malay and English. The monetary unit of Labuan is the Malaysian ringgit.
Advantages
Since 1990, Labuan has had the status of an international offshore center. Opening an offshore business in Labuan has several advantages:
- minimum expenses for company maintenance;
- income tax rate can range from 0 to 3%;
- Labuan has a formal agreement with 48 states that excludes double taxation;
- offshore companies are exempt from stamp duty;
- holding companies enjoy special tax conditions in Labuan;
- repatriation of income at low rates;
- business confidentiality.
Corporate Law of Labuan
Labuan Business Activity Tax Act 1990
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Labuan Financial Services and Securities Act 2010
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Labuan Foundations Act 2010
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Labuan Limited Partnerships
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Labuan Trusts Act 1996
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