Labuan is the official federal region of Malaysia. It consists of Labuan Island and six other miniature islands. It resides in the eastern part of Malaysia off the shore of Sabah. Labuan is usually introduced as an offshore financial center, which allows international, financial and business assistance. Although English is generally spoken in Labuan, the preferred official language of Labuan is Bahasa Malaysia. Therefore, this is an excellent territory for a Labuan Funds License.
Timeframe: within 5 months
Minimum capital requirements – £ 70,000
Labuan is an emerging market economy and displaying a mutual funds company in Malaysia’s federal territory allows the following benefits: a swift and effective certification process, relatively favorable regulatory conditions, Favorable tax conditions which carries a minimum 3% tax to be charged on earnings or a flat rate of RM 20,000, no withholding of tax on distributions to investors and the elimination of payments of stamp duty on share transfer.
To build and license a Labuan private fund, a signed notice must be given Labuan FSA with a data record. This can be carried in through a Labuan trust corporation, bank including Islamic bank and Labuan investment.