Setting up an IBC in Labuan, Malaysia
By Muhammad Ali
For many of you, you may not be aware that the Island territory of Labuan in Malaysia is officially declared as an offshore banking centre.
I have always advised that after the RV; put together a team to assist you. One of those team members should include a lawyer who specifically advises to High-Net worth Individuals
One piece of advice the lawyer may recommend to you is to open an IBC (International Business Company). There are a ton of references to IBC and the purpose of setting one on the internet so I won’t get into that in this article. You can do your own research on that. This article will mainly focus on setting up an IBC in Malaysia.
Here in Malaysia we are fortunate to have Labuan as an offshore banking facility so we do not need to go as far as Hong Kong or other areas.
One particular important aspect of using a Malaysian IBC is that it can be 100% foreign owned.
What that means, is that let's say for a Singaporean or other foreigner wants to open a Corporation company in Malaysia, one of the directors must be Malaysian. Now this can create complications, especially when we are putting millions into our company bank account. But with a Labuan IBC, you do not need a local Malaysian director. The registered name can be 100% foreigner.
For foreigners you can also setup an IBC for getting a residency visa in Malaysia.
Here are some video links that you will explain more about setting up an IBC in Labuan.
Also many of you may want to set up a corporation for the purpose of taxes or other reasons.
You may be able to use the company sectary's address or something else to consider is to setup a virtual office for the address location.
The purpose of the using a virtual address is to reduce any mails or package deliveries to your house. So the virtual office address will be your business and mailing address.
Here is a company that you can setup a virtual office in Malaysia.
And here are more links to a Labuan IBC.
So whether you want to setup an IBC in Labuan, Hong Kong or somewhere else, you can begin by doing some reading and learning now.
I hope my article has been of some interest to you as I also plan to open an IBC in Labuan after my exchange.
I am the creator of the Currency Exchange Planner, an excel spread sheet, which is the most advanced and affordable planning tool for the Dinar Community.
The No. 1 Planning Tool for the Dinar community.
Available in Desktop PC/MAC and Mobile App (Android & IOS) versions