Labuan is a mid-shore jurisdiction that lies off the coast of East Malaysian state of Sabah. The Federal Territory of Malaysia is fast emerging as one of Asia’s most sought after offshore financial centers because of business-friendly environment, political stability, and its strategic location in the Southeast Asian region.
In 1990, Labuan Island, which includes another six islands as well, was designated as a free-trade zone and a financial center. As one of Malaysia’s major federal territory, Labuan is renowned for offering excellent, internationally accepted laws as well as structures for investment holding companies, funds, leasing businesses, shipping, banking, insurance, wealth management, and trading services.
Steps Involved In Setting Up A Labuan Company
- Registration of your company
- Applying for a Labuan business visa for you (as the main applicant)
- Applying for entry visa for dependents
- Labuan immigration landing procedure and visa stamping
- Bank account opening and interview
It is a fact that the Malaysian Government is welcoming foreigners to incorporate businesses in Labuan by promising tax benefits and 100 percent company ownership. However, all businesses are required to comply with the requirements specified by relevant authorities such as the Labuan Financial Services Authority, Malaysia Immigration Department, Inland Revenue Authority, and Malaysian Central Bank.
The application processes and regulatory compliances can be a little overwhelming, especially if you are a foreigner trying to set up an offshore company. You will need the help of registered and experienced financial services providers to take you seamlessly through the whole process without any hiccups.
The best financial services provider will make available a comprehensive set of support services which would help you to comply with all legal aspects and ensure that your Labuan company remains active and is neither penalized nor blacklisted, you have a credible bank account in Malaysia, and you are able to renew your Labuan business visa on expiration of the initial two-year period.
QX Trust Is The #1 Financial Service For Incorporating A Company In Labuan
QX Trust is part of QX Group and holds the license from Labuan Financial Services Authority which was set up as per the provisions of the Labuan Financial Services and Securities Act 2010. Managed by a member of the QX Group, QX Trust conducts business activities in Labuan
The founder of QX Trust and his support team are true professionals and have sufficient experience in providing a full range of services for setting up or incorporating your offshore businesses, especially in Labuan, and recommending cross border investments. The key features of the services offered by QX Trust are personalization or customization, and quick turnaround time. In fact, the financial services provider offers bespoke solutions as well as consultancy services their valued clients.
To ensure that you obtain all necessary approvals from relevant authorities, they perform due diligence so that you don’t have to face any disappointments later on. Further, all their services are covered by Service Agreements. Once your personal profile and the objective of setting up a Labuan Company pass the due diligence test, we will provide guidance on the right entity you can set up and the process involved. It includes the following:
- Nature of business and company structure so as to enjoy tax benefits and ensure compliance
- Deciding and ensuring your Company identity; you will have to suggest three names so that they can conduct a search and ascertain availability
- Helping you decide the suffix that should be added after your company’s name (Co. Ltd., Limited, Ltd., LLC, Labuan, or Inc.)
- Deciding on shareholders and ownership proportion
- Bank account opening including profiling and interview with the banker
- Two years’ multiple-entry Labuan work visa for you as well as partners
- Deciding on the inclusion of dependents in the visa application
QX Trust has extensive experience is assisting entrepreneurs to establish their businesses quickly, efficiently and seamlessly. They have an extensive network and offices and they have helped hundreds of businesses of varying sizes in setting up new companies as well as obtaining licenses. This, in turn, has helped them meet their regional as well as international expansion goals.
If you are thinking in terms of setting up a Labuan company, you just have to contact QX Trust. You can contact on phone at +6018-228 9533 or email at consultant@qx-trust.com. QX Trust has offices in Kuala Lumpur (Level 36, Menara Maxis, Kuala Lumpur City Centre 50088, Kuala Lumpur, Malaysia) and Labuan (Unit No. 3A-16, Level 3A, Labuan Time Square 87000 F.T. Labuan, Malaysia).