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With globalization and frequent cross-border activities, entrepreneurs have to readjust the way of doing businesses under Automatic Exchange of Information (AEOI) which allows tax authorities freely exchange information commencing from 2018. Along the line, more than 200 countries agreed to report their expatriates (non-residents) accounts through Common Reporting System (CRS).
In this context, it is essential for entrepreneurs to set up their businesses with real commercial substance than having a vehicle operating “virtually”. Labuan could be an alternative in provision of a midshore commercial operation in substance cost effectively to navigate your business dealings in Asia due to the following reasons:
1. Lowest tax rate amongst Asia i. Low and flexible tax option of only 3% on net audited profits. ii. Personal Tax - Directors fee in lieu of salary: 0% (upto year 2020). iii. Expatriates employment under salary: 50% tax rebate on taxable income. 2. A pool of low cost English speaking staff and offices are handily available. 3. 100% foreign and single person ownership, without the need of a local partner! 4. No need for trade licenses to operate your business, as opposed to on-shore companies which require at least one trade license! 5. Bank accounts in foreign currency. 6. No GST, Sales and Service Tax! 7. No Withholding Tax! 8. Dividends are non-taxable! 9. Access to more than 70 Malaysia Treaty Partners! 10. Strategically located in Asia next to Malaysia- easily accessible within hours with international fights for your bank meetings, compare to other offshore jurisdiction which takes days to reach. 11. Sharing common time zone with Asian cities enhancing operation efficiency. 12. All infrastructure is readily available and is able to demonstrate the highest level of control by the owner whilst relatively low cost compared to Singapore or Hong Kong.
Need Assistance Send us an email at info@intershores.hk or by whatsapp at (852) 5681 1114 if you want to learn more on maximization of your business return!
Whatsapp : (852) 5681 1114 Phone : (852) 2186 6936 Email : info@intershores.hk
Disclaimer: Whilst reasonable care has been taken in provision of information above, it does not constitute legal or other professional advice. INTERSHORES does not accept any responsibility, legal or otherwise, for any error omission and accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, readers are advised to take appropriate professional advice before committing themselves to any involvement in jurisdictions, vehicles or practice.
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