The island also has a good airport with daily flights to Kuala Lumpur and most Asian capitals.
It has a warm, humid tropical climate with daily temperatures averaging around +30°C with two monsoon seasons, from April to June and September to December.
The official language is Malay, however, English, Tamil and various Chinese dialects are widely spoken. Many documents and regulations are available in English. The currency of Malaysia is the Malaysian ringgit (RM).
To date, Malaysia has signed 74 double taxation agreements (including with Russia).
choosing a country
choosing a bank
payment (by any method)
bank account opening
From all the possible types of advantages that open up to the founders when incorporating a company, it is definitely worth noting:
According to the current laws of Malaysia, namely the Labuan Companies Act of 1990 (LCA 1990), it is possible to incorporate your company in the following legal forms:
Based on the analysis of the current legislation regulating the activities of business entities, the following can be highlighted with regards to the specifics of the process of registering your business:
The state has the following features for levying taxes and fees
Annual reporting in the prescribed form is required on an annual basis.
Labuan offshore companies that engage in trading operations pay 3% tax on net income or an amount of RM20,000 (about USD4,800) if the company does not carry out an annual audit. Non-trading companies are exempt from income tax.
No goods and services tax (turnover tax) or value added tax (VAT).
No capital gains tax.
Licensed activities: banking, insurance/insurance-related, fund management, leasing, factoring and company management.