Labuan Malaysia 🇲🇾 - Little Known AMAZING Offshore Jurisdiction

☎️ Book a call with Michael: https://calendly.com/michael-rosmer Little Known AMAZING Offshore Jurisdiction - this is an appealing place to form a company, to do banking, to run operations from, etc. Which place am I talking about? Labuan in Malaysia! Labuan is an island, 2 and a half-hour away from Kuala Lumpur by plane. We really like Labuan for forming companies, and we will tell you why. You could potentially have ZERO tax if you form a holding company. If this is not the case you can end up paying 3% tax, which is still very appealing. Besides taxes, Labuan is also great for banking. You will have access to all the banks in Malaysia, as well as Singaporean banks. In a world where it's getting harder and harder to bank, this is a very appealing option. What about substance requirements? Many jurisdictions are now requiring substance, meaning that you have to have a real operations and employees, rather than just forming a company on paper. We talked about this quite a bit, and this is one of the big reasons why many traditionally famous offshore jurisdictions are no longer good - you simply cannot have substance there. This is not the case for Labuan. In Labuan, you can hire people for wages that will not break your bank. The cost of office space is also quite low, making it quite easy for you to actually have substance here. You will need 2 full-time employees and some office space. Also, you'll need to spend at least 50 000 RM per year, which is about $12 500. This amount can be included in the wages and office space. If you own a holding company you will need to spend more money per year. However, if you have a pure equity holding company, you don't have any requirements regarding employees locally, and you need to spend only $5000 per year. Labuan is included in many tax treaties, so you will be covered from that side as well. Labuan can provide a good stable long-term structure, which will not raise flags in your country of origin. This is why I am personally a big fan of forming companies here. Who are we and what do we do? We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc. We have lots of interesting articles on different topics, we have relevant information up to date. Author: Michael Rosmer ☎️ Book a call with Michael: https://calendly.com/michael-rosmer