Advantages of Labuan

1) Labuan offers the businessman a place to focus his business through the use of Labuan companies as there are many advantages: -

The following are some of the advantages: -

a. There is no exchange control restrictions;
b. Time zone for Asian Market;
c. DTA network and Malaysian Tax Residence;
d. Enjoys good communications facilities;
e. Broad legislative base;
f. Multi lingual work force;
g. Liberal Immigration Policy for Insurance of work permits for expatriates employed by Labuan companies based in Labuan.

2) There is an English speaking work force and multi lingual work force. Recently, OECD passes judgement and it is noted that Labuan was classified in Group 2.

3) There are new development in the Labuan Offshore Financial Industry being drawn up to stimulate the fund industry, development of Islamic Money Market and the provision of a backroom services from Labuan to complement the nearby financial centres in Asia. A new Exchange, Labuan International Financial Exchange ["LFX"] was launched to facilitate the listing of funds and financial instruments. Soon LFX will be an offshore exchange complete with listing and trading capabilities.

4) There is a renewed interest in Labuan Offshore Financial Centre and a different perception of Labuan as just not only a centre for Brass plates offices but as a place where International Business can be conducted.