|
Confidentiality
|
Yes
|
|
Public disclosure on
beneficial owner's info
|
No
|
|
Minimum director
|
One
|
|
Minimum shareholder
|
One
|
|
Must a director be
resident of Malaysia
|
No
|
|
Are corporate
directors/shareholders allowed
|
Yes
|
|
Are nominee
directors/shareholders allowed
|
Yes
|
|
Location of Meetings
|
Anywhere
|
|
Resident secretary
required
|
Yes
|
|
Share capital
currency
|
Any except MYR
|
|
Minimum paid-up share
|
One
|
|
Bearer shares
|
Not permitted
|
|
Who can own a LC
|
No restriction of ownership
|
|
Accounts to be
prepared
|
Yes
|
|
Requirement of audit
|
No, except for licensed entity
|
|
Filing of annual
return
|
Yes
|
|
Filing of tax returns
|
Yes
|
|
Taxation rates :
|
|
|
Labuan trading activity
|
3% of net audited profits or RM20,000
|
|
Labuan non-trading activity
|
Nil
|
|
Withholding tax
|
Exempted
|
|
Tax on Foreign
Sourced Income
|
Exempted
|
|
Stamp Duty charged on
documentation
|
Exempted
|
|
Exchange Control
Restriction
|
None
|
|
Business transaction
in MYR
|
Not Permitted except for defraying admin expenses
|
|
Migration of Domicile
|
Yes
|
|
Timeframe for
Incorporation
|
1-2 days
|
