Company registration in Labuan where and how?

[bountymounty]

Hello,

I seems we never discussed the jurisdiction Labuan / Malaysia for company registration and setup of offshore banking!

Doing some research in seems to be the ultimate best offshore jurisdiction in 2017 and many years ahead to protect privacy, assets and avoid any taxes!

Now I was wondering, what is the reason for why no one has mentioned Labuan company formation at any time? Is it because no one know about this tax heaven? or no one want to talk about it?

When reading about Labuan which is located in Malaysia it seems any government worldwide have put it on the black list as "the offshore jurisdiction no 1" which can't be penetrated at all!

So does anyone has any information about it?

 

[Nomad]

Many countries exclude Labuan from DTI. If you need a residence permit, minimum paidup capital needs to be 250K MYR.

 

[JohnSeed]

The only service I have found for this jurisdiction Labuan is Labuan | Offshore Company Formation @ Offshore4Asia where it looks like we can register a Company for $2750 first year.

I have no experience with this service provider so I can't tell you if they are legit. This may be used as an starting poing in your research. Then Again, they can't open an offshore account in Labuan but do it in UAE which is a bick no go Bank Accounts | Offshore Company Formation @ Offshore4Asia

 

[JohnSeed]

Many countries exclude Labuan from DTI. If you need a residence permit, minimum paidup capital needs to be 250K MYR.

So is this not true:

Standard minimum paid up: None but our standard company comes with a standard paid up of U$1.00.
Standard authorised capital: Normally 13,000 no par value shares.

 

[Nomad]

@moneynetwork

1) Many countries exclude Labuan from DTI. This is true. 14 countries do that.
Read Malaysia DTA for Labuan Entities
2) If you need a residence permit, minimum paidup capital needs to be 250K MYR <<< Only if you need a employment pass/residence permit.

 

[JohnSeed]

Thank you.. how much is 250K MYR in USD?

 

[Nomad]

I think its something like 57K USD

 

[negon]

Is there any provider of such company registration that is cheaper and may even be cheaper? also one that is able to open a bank account in Labuan?

I understand that if you don't look for residence permit the share capital is 1US$ right?

 

[negon]

The 14 countries that have exluded Labuan from the DTA are:
Australia, United Kingdom, Japan, Netherlands, Sweden, Luxembourg, Seychelles, Chile,Indonesia,Spain, South Africa, India, Germany and South Korea.

Okay, that's clear, but as I read somewhere, they refuse to participate in any TIEA or other Information Exchange program world wide, is that true?

 

[Nomad]

AEOI is the thing now. Who needs TIEA? You are always required to answer questions from tax department.

 

[hiju]

AEOI is the thing now.

You think that it apply for company formation in Labuan? I did some Google research, according to BBC it is the best protected offshore jurisdiction in the world. Most criminal activity point to this jurisdiction because authorities can't get any information there?

 

[Nomad]

@hiju, If your company don't need a bank account or primary intention is not lowering tax, why you need to setup a company in labuan?

 

[hiju]

Because I would like to find a place for a real entity without fake docs/ darks but where my privacy is secured and no one can get their clammy hands on it!

 

[Nomad]

In that case why don't you Incorporate in St. Kitts ?

 

[hiju]

Because after I found OP's thread and did my research it seems nothing can be compared to Labuan! I hope OP will find a service provider and register a corp there and report back. Otherwise I will do it once I have found a service provider of Labuan company registration I feel I trust.

 

[Nomad]

I was wondering for what business you will be using a Labuan company. Labuan got 3% tax ( audited books) or pay flat 20000 MYR ( around 4500$) as tax. And there will be annual fees like registered office, secretary etc. If you are willing spend this much, you are definitely into some solid business. In that case what will you do for a real bank account? You plan to use Leupay and operate company from your home country ?

 

[hiju]

Well, the fees you list apply for all companies / jurisdictions. $4500 is nothing.. if you don't have such money you should not even think about any offshore solution.

I will not go into details about why and how I will operate this company, I just want to ask if someone know a reliable provider of Labuan company formation! In the past I was fine with a simple Seychelles corp with my real ID but not today as you may know, I have several entities with darks which works great. Anyway I want something with my own name to safe up money and assets, buy property etc. it should be bullet proof as what I read Labuan can do.

 

[lavel]

@moneynetwork

1) Many countries exclude Labuan from DTI. This is true. 14 countries do that.
Read Malaysia DTA for Labuan Entities
2) If you need a residence permit, minimum paidup capital needs to be 250K MYR <<< Only if you need a employment pass/residence permit.

Have you actually tried to setup a company there?

Well, the fees you list apply for all companies / jurisdictions. $4500 is nothing.. if you don't have such money you should not even think about any offshore solution.

second that, if you don't have that money don't consider to go offshore at all. stay at home and watch TV or grow your business so it's worth going offshore!

to OP, Labuan looks really interesting, however, I'm missing a link to the BBC article (if any available) and I'm missing any information about what agreements they have signed (if any) with the rest of the world?!

 

[maxmoney]

Interesting topic. Labuan as a place to register a offshore company seems to be the last place where it may be safe to keep your assets.

 

[bountymounty]

I'm still looking for someones experience to with the registration of a company in Labuan / Malaysia - I'm in contact with a few service providers so far total amateurs to chat with