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Labuan's Free Port Status to Ease the Trading Activities in the Future

Written by: Editor

 
Labuan is a significant offshore jurisdiction that provides an appealing business climate and asset protection of foreigners. Having a relaxed tax structure is for sure among the reasons why investors decide to run their activities in Malaysia. The duty-free ports and their status have been recently debated by the Federal Territories Ministry in Malaysia and came to a favorable conclusion in this matter: the free port status of Labuan should remain unchanged and no restrictions should be imposed for foreign vessels. Our company formation specialists in Labuan are at the disposal of investors who would like to know the tax regime for companies in this jurisdiction and for those who want to set up an offshore in Labuan.
 

Having no limitations for import and export sector in Labuan

 
The Malaysian authorities know the huge importance of Labuan’s free port status and the ways in which such position helps the development of the trading activities in Malaysia. At the moment, foreign vessels can enter the duty-free island and can develop their operations without having to consider any taxes in this direction. The authorities consider that there should be even more openness for foreign investors and business partners from Japan, China, and European countries and that the status of a duty-free island should remain the same. Direct shipments are coming in Labuan’s main ports without limitations or specific conditions, and this is definitely a major plus in terms of economy and solid industries.
 

More support for foreign entrepreneurs

 
Even though there are many tax advantages in Labuan, Malaysia’s significant offshore jurisdiction, the authorities think that the ports must offer even more access, especially for European and other Asian countries interested in placing their goods on the island. There are strong considerations to believe that Labuan’s free port status will ease even more the trading activities in this jurisdiction if the rules will be improved.
 
If you are a foreign investor who wants to open a company in Labuan, we invite you to get in touch with our team of company incorporation agents in Labuan.