Location Labuan is comprised of a few small islands located off the coast of Sabah, Malaysia. Labuan is part of Malaysia and being formally under British rules is a common law jurisdiction, with an independent English based-legal system.

Type of company Called Labuan Company which in most cases must be companies limited by shares.

Time to incorporate In most cases including reservation of name, a Labuan Company can be incorporated within 1-2 days. A name once reserved is valid for three months. Please allow 1-2 weeks for corporate kits to be sent.

Government's Registration fee From the minimum of US$300.00 to the maximum of US$1500.00 depending on the size of authorised capital chosen. Most company pays the minimum authorized capital fee.

Shelf company availability Yes generally available.

Taxation Trading companies pay 3% tax or app. US$6000.00 whichever is elected on a given tax year. Investment holding companies is not subjected to tax.

Minimum annual government fee RM2600.00 (approx. US$730.00) regardless of capital structure, payable every year the latest one month before the anniversary of the company.

Disclosure of beneficial owner Labuan adopts anti-money laundering/counter terrorism financing legislation under which all licensed service providers are required to know the identity of their customers before accepting a transaction. Not to do so would be an offence under the legislation. Therefore disclosure of beneficial ownership will be made to trust company, bank, insurers, etc. but not to the Authority.

Bearer shares Not permitted. All shares must be in registered form.

Standard minimum paid up None but our standard company comes with a standard paid up of U$1.00.

Standard authorised capital None. Labuan now adopts no par value regime.

Permitted currency of capital Any currency except Malaysian Ringgit although in most cases the US$ is prevalent.

Minimum number of shareholders One and there is no residency or nationality requirement.

Minimum number of directors One and there is no residency or nationality requirement.

Corporate directors Yes.

Local directors Optional.

Company secretary Yes and if more than one is appointed at least one must be a resident secretary. Only an approved officer of a Labuan trust co or its wholly owned subsidiary may be appointed as a resident secretary.

Public record of directors & shareholders No.

Location of directors and shareholders meeting Anywhere.

Telephone board meeting Yes.

Access to Double Tax Treaty With careful planning, Labuan offshore companies may enjoy the benefits of Malaysia's extensive Double Tax Treaties.

Requirement to file account Only for licensed companies and companies electing to pay 3% tax. Nevertheless there is still requirement to keep accounts that will sufficiently show the financial position of the company. With increase compliance, it is commonly excepted that most companies will be required to prepare at least management accounts.

Requirement to file annual return Yes and it is simple.